NEW YORK, December 08, 2020 (GLOBE NEWSWIRE) – Facts and Factors has published a new research report titled âCar Rental Market by Car Type (Luxury Economy Car, SUV, MUV and Executive Car), by Booking Type (Online Access and Offline Access), by Application (Airport Transportation, Remote Station, Local Use et al) and by Region: global industry outlook, market size, business intelligence, consumer preferences, statistical surveys, comprehensive analysis, historical developments, current trends and forecasts, 2020-2026 â.
According to the research study, the global share and revenue in the Car rental market The segment is expected to reach USD 60 billion in 2019. Revenue is expected to show an annual growth rate (CAGR 2020-2026) of 7%, which will translate into a projected market volume of USD 111.6 billion by 2026.
Car rental has become a popular activity around the world due to the ease of booking and the availability of cars for rental purposes. The demand for hassle-free money transfer, easy booking, live tracking and high security are all helping to increase the demand in the car rental market. Moreover, the increasing usage of smartphones and internet users is expected to boost the global car rental market.
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â¢ Report Introduction, Industry Overview and In-Depth Analysis
â¢ More than 190 research report pages
â¢ Provide chapter-by-chapter advice on demand
â¢ Regional analysis with graphical representation of size, share and trends
â¢ Includes a list of tables and figures
â¢ The report includes major market players with their business strategy, sales volume and revenue analysis.
â¢ Methodology for researching facts and factors
(Note: The sample in this report is updated with the COVID-19 impact analysis before delivery)
- Market Size and Forecast by Revenue | 2020-2026
- Market dynamics – Key trends, growth drivers, constraints and investment opportunities
- Market Segmentation – A detailed analysis by product, types, end user, applications, segments and geography
- Competitive Landscape – Top Key Suppliers and Other Leading Suppliers
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Profitability and demand for affordable rides among mass customers is expected to drive global market growth Car rental market share during the forecast period. In addition, the growing number of business and leisure travel has increased the use of luxury and premium car rental services. The concept of sharing and pooling is likely to attract more customers among the cheapest interested customers and thus propel the growth of the global car rental market. In addition, growing environmental and health concerns have prompted customers to adopt environmentally friendly products or services. The main objective is to reduce pollution by reducing the number of cars on the road. High disposable income, improved road infrastructure in emerging or developed economies have increased the number of leisure and business travel which in turn will fuel the growth of the market.
Best market players:
- The Hertz company
- Enterprise Rent-A-Car
- Sixt SE
- Budget Opinion Group.
Dominance of the market segment:
- Economy car category expected to dominate global car rental market
The economy car category is expected to hold the largest share of the global car rental market due to its compact size and cost efficiency. In addition, it is one of the most commonly preferred modes of transport for airport and intra-urban travel.
- Airport transport is expected to experience substantial growth over the forecast period
Due to the growing interest in tourism, the use of the plane for leisure and business is also increasing among tourists. Thus, the demand for car rental services is increasing in the tourism sector.
Browse the entirety âCar Rental Market by Car Type (Luxury Economy Car, SUV, MUV and Executive Car), by Booking Type (Online Access and Offline Access), by Application (Airport Transportation, Remote Station, Local Use et al) and by Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends and Forecasts, 2020-2026 “ in relation to https://www.fnfresearch.com/global-car-rental-market-by-car-type-luxury-785
Global Car Rental Market: Car Type Segmentation Analysis
- Luxury car
- Executive Car
- Economy car
- Sport utility vehicle (SUV)
- Multi-utility vehicle (MUV)
Global Car Rental Market: Booking Type Segmentation Analysis
- Offline access
- Online access
Global Car Rental Market: Application Segmentation Analysis
- Airport transport
- Local use
- External post
- North America is expected to dominate the global car rental market during the forecast period
North America held the majority of the global car rental market share in 2018 and is expected to continue to grow during the forecast period. The increasing number of business and leisure trips to various regions, whether local or international, has a positive impact on the growth of the regional market. In addition to this, the growing inclination of the population towards rental services and the presence of well-known service providers are expected to accelerate the global car rental market.
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