Car Rental Market Trends, Size, Growth, Opportunity

According to the latest report by IMARC Group, titled “Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027”, the global car rental market has reached a value of US$76.7 billion in 2021. IMARC Group expects the market to reach US$96.5 billion by 2027, growing at a CAGR of 3.8% during the period 2022- 2027.

COVID-19 impact analysis:

We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.

Get a free sample of this report:

Car rental represents the possibility of temporarily renting automobiles for a predefined period through offline or online channels. This service is intended primarily for travelers and individuals who do not own a private vehicle. Car rental is a more cost-effective alternative to owning a vehicle as it provides freedom of movement and avoids high ownership costs. Facility providers also offer various other products, such as insurance policies, auto damage repair, global positioning systems (GPS), entertainment, and Wi-Fi networks for user convenience.

Car Rental Market Trends:

Rising urban population with growing trend towards adventure activities and expanding travel and tourism industry across the globe are some of the major factors driving the car rental market. Furthermore, the emerging trend of such services in the form of taxis and ride-sharing for enhanced mobility and cost-effective travel further increases the market growth. Additionally, the growing awareness of environmental preservation and the initiation of several policies by government agencies to promote car rental facilities as one of the most economical modes of transportation to minimize vehicle emissions are catalyzing also the world market. Apart from this, introduction of various services through smartphone-based websites and apps and inflation in personal income levels are expected to propel the car rental market over the forecast period.

Competitive analysis and segmentation of the car rental market 2022-2027:

Competitive landscape with key players:

The competitive landscape of the Car Rental market has been studied in the report along with the detailed profiles of key players operating in the market.

Some of these key players include:

• Avis Budget Group, Inc.
• Carzonrent India Private Limited
• Eco rent a car
• Sixt SE
• Location
• Enterprise Holdings, Inc.
• Enterprise Rent-A-Car
• Europcar
• The Hertz company

Key Market Segmentation:

The report has segmented the global car rental market on the basis of booking type, rental duration, vehicle type, application, end user and region.

Breakdown by booking type:

• Offline booking
• Online booking

Breakdown by rental duration:

• Short term
• Long term

Breakdown by type of vehicle:

• Luxury
• Executive
• Economy
• SUVs
• Others

Breakdown by application:

• Leisure/Tourism
• Company

Breakdown by end user:

• Autonomous
• with driver

Breakdown by region:

• North America (United States, Canada)
• Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, South Africa, Others)

Ask the analyst for a customization and explore the full report with table of contents and list of figures:

Main highlights of the report:

• Market performance (2016-2021)
• Market Outlook (2022-2027)
• Market trends
• Market drivers and success factors
• Impact of COVID-19
• Value chain analysis
• Complete mapping of the competitive landscape

If you need specific information that is not currently covered in the report, we will provide it to you as part of the customization.

Contact us:
30 N Gould St, Ste R
Sheridan, WY 82801, United States
Americas: +1-631-791-1145 | Europe and Africa: +44-753-713-2163 | Asia: +91-120-433-0800

About Us

The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.

IMARC’s information products include major business, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high-tech organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and new processing methods are at the top of the list. company expertise.

Our offerings include comprehensive market information in the form of research reports, production cost reports, feasibility studies and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our client base, ranging from small and medium-sized businesses to Fortune 1000 companies.

This press release was published on openPR.

Pamela W. Robbins