Global Car Rental Market (2021 to 2026)

Dublin, 05 July 2021 (GLOBE NEWSWIRE) β€” The report β€œCar Rental Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2021-2026” has been added to from offer.

The global car rental market reached a value of US$93.7 billion in 2020. Looking ahead, the publisher expects the market to reach a value of US$144.7 billion by 2026, growing at a CAGR of 7.2% over the period 2021-2026. Keeping in mind the uncertainties of COVID-19, we continuously monitor and assess the direct and indirect influence of the pandemic on different end-use sectors. This information is included in the report as a major market contributor.

Car rental refers to the ability to temporarily rent automobiles for a predefined period through online or offline channels. Car rental services are primarily aimed at travelers and individuals who do not own a private vehicle. Auto leasing is considered a more cost-effective alternative to owning a vehicle, as it provides freedom of movement, low-cost travel, and avoids high ownership costs. Service providers also offer various other products, such as auto damage repair, insurance compensation policies, entertainment systems, global positioning systems (GPS) and Wi-Fi networks, to offer a increased user comfort.

Global car rental market trends and drivers:

The significant growth in the travel and tourism industry across the globe is one of the major growth factors in the car rental industry. Additionally, the growing urban population with an increasing trend towards adventure and travel is also driving the growth of the market. With this in mind, individuals are adopting car rental services in the form of taxis and carpooling for increased mobility and economical travel.

The implementation of favorable government policies, along with the growing awareness of environmental preservation, acts as another growth factor. Governments in both developed and emerging economies are emphasizing reducing emissions from their vehicles and promoting car rental services as one of the most economical modes of transportation. Other factors including the introduction of car rental services through websites and smartphone-based apps, coupled with increasing spending capabilities of the masses, are expected to further boost the market.

Key Market Segmentation:

The publisher provides analysis of key trends in each sub-segment of the global car rental market along with growth forecasts at global, regional and country levels from 2021 to 2026. Our report has categorized the market based on type reservation, rental duration, vehicle type, application, end user and region.

Breakdown by booking type:

  • Offline booking
  • Online booking

Breakdown by rental duration:

Breakdown by type of vehicle:

  • Luxury
  • Executive
  • Economy
  • SUV
  • Others

Breakdown by application:

Breakdown by end user:

  • Autonomous
  • With driver

Breakdown by region:

  • North America
  • United States
  • Canada
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
  • Latin America
  • Brazil
  • Mexico
  • Middle East and Africa

Competitive Landscape:

The global car rental industry is highly fragmented with the presence of several small and large players. Some of the major market players are:

  • 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

Answers to key questions in this report:

  • How has the global car rental market behaved so far and how will it behave in the years to come?
  • What are the main regional markets?
  • What has been the impact of COVID-19 on the global car rental market?
  • What is the market breakdown based on booking?
  • What is the breakdown of the market according to rental duration?
  • What is the market breakdown by type of vehicle?
  • What is the market breakdown by application?
  • What is the market breakdown by end user?
  • What are the different stages of the industry value chain?
  • What are the major market drivers and challenges?
  • What is the structure of the global car rental market and who are the main players?
  • How competitive is the market?

Main topics covered:

1 Preface

2 Scope and methodology

3 Executive summary

4 Presentation
4.1 Overview
4.2 Key Industry Trends

5 Global car rental market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 Breakdown of the market by booking
6.1 Offline booking
6.1.1 Market trends
6.1.2 Market Forecast
6.2 Online booking
6.2.1 Market trends
6.2.2 Market Forecast

7 Breakdown of the market by rental duration
7.1 Short term
7.1.1 Market trends
7.1.2 Market Forecast
7.2 Long term
7.2.1 Market trends
7.2.2 Market Forecast

8 Market Breakdown by Vehicle Type
8.1 Luxury
8.1.1 Market trends
8.1.2 Market Forecast
8.2 Executive
8.2.1 Market trends
8.2.2 Market Forecast
8.3 Economy
8.3.1 Market trends
8.3.2 Market Forecast
8.4 SUV
8.4.1 Market trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market trends
8.5.2 Market Forecast

9 Market Breakdown by Application
9.1 Leisure/Tourism
9.1.1 Market trends
9.1.2 Market Forecast
9.2 Company
9.2.1 Market trends
9.2.2 Market Forecast

10 Market Breakdown by End User
10.1 Autonomous
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Driver
10.2.1 Market Trends
10.2.2 Market Forecast

11 Market Breakdown by Region

12 SWOT Analysis

13 Value chain analysis

14 Analysis of the five forces of carriers

15 price indicators

16 Competitive landscape
16.1 Market structure
16.2 Key Players
16.3 Profiles of Key Players
16.3.1 Avis Budget Group, Inc. Company overview Product portfolio Finance SWOT Analysis
16.3.2 Carzonrent India Private Limited Presentation of the company Product portfolio
16.3.3 Eco rent a car Company Overview Product portfolio
16.3.4 Enterprise Holdings, Inc. Company Overview Product Portfolio SWOT Analysis
16.3.5 Enterprise Rent-A-Car Company Overview Product Portfolio Finance
16.3.6 Europcar Company Overview Product Portfolio Finance
16.3.7 Locate Company Overview Product portfolio Finance
16.3.8 Sixt SE Company Overview Product portfolio Finance
16.3.9 The Hertz Company Company Overview Product Portfolio

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Pamela W. Robbins