Global car rental market to reach $96.5 billion by 2027
DUBLIN, September 2, 2022 /PRNewswire/ — The report “Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027” has been added to from ResearchAndMarkets.com offer.
The global car rental market reached a value of US$76.7 billion in 2021. Looking ahead, the publisher expects the market to reach US$96.5 billion by 2027, posting a CAGR of 3.8% over the period 2022-2027. 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.
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, as well as forecasts at the global, regional and country levels from 2022 to 2027. Our report has categorized the market based on type of reservation, 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:
Breakdown by application:
Breakdown by end user:
- With driver
Breakdown by region:
- North America
- United States
- Asia Pacific
- South Korea
- Latin America
- 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
- Enterprise Holdings, Inc.
- Enterprise Rent-A-Car
- The Hertz Company
Main topics covered:
2 Scope and methodology
3 Executive Summary
5 Global car rental market
6 Market Breakdown by Booking Type
7 Breakdown of the market by rental duration
8 Market Breakdown by Vehicle Type
9 Market Breakdown by Application
10 Market Breakdown by End User
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
For more information about this report visit https://www.researchandmarkets.com/r/687ibg
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SOURCE Research and Markets