Global Car Rental Market Industry Opportunities and Forecast 2022-2027: A US$96.5 Billion Market by 2027 –

DUBLIN–(BUSINESS WIRE)–The report “Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027” has been added to from offer.

The global car rental market reached a value of US$76.7 billion in 2021. The market is expected to reach US$96.5 billion by 2027, growing at a CAGR of 3.8% in 2022- 2027.

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 smartphone-based websites and apps, coupled with increasing spending capabilities of the masses, are expected to further boost the market.

The report provides an analysis of the main trends in each sub-segment of the global car rental market, as well as forecasts at the global, regional and country levels from 2022 to 2027.

The report categorized the market based on booking type, rental duration, vehicle type, application and end user.

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

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

Key questions answered by 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 by booking type?

  • 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?

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Pamela W. Robbins