The Mexican Car Rental Market is Expected to Grow at a CAGR of 8.6% Between 2022 and 2027 | Hertz Corporation, Sixt SE, Avis Budget Group Inc., Alamo, National Car Rental
Coherent Market Insights offers global research and analysis-based studies on “Global Car rental in Mexico Market report, history and forecast 2022-2027, breakdown data by companies, key regions, types and application“. This study provides an in-depth analysis of market drivers and restraints. The Mexico car rental market statistical reports also present data on global socio-economic data and give historical forecast for the industry. The facts, tables and figures in this report can be used by key stakeholders for strategic planning that will lead to organizational success. It provides information on key production, revenue, and consumption trends that companies can use to boost sales and growth in the global market.
The economy car segment was valued at US$378.4 million in the car rental market in Mexico in 2018 and is expected to register a CAGR of 8.6% between 2019 and 2027.
𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗮 𝘀𝗮𝗺𝗽𝗹𝗲 𝘁𝗼 𝗼𝗯𝘁𝗮𝗶𝗻 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗮𝗻𝗱 𝗰𝗼𝗺𝗽𝗿𝗲𝗵𝗲𝗻𝘀𝗶𝘃𝗲 𝗺𝗮𝗿𝗸𝗲𝘁 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗮𝘁-
The data in the Mexico Car Rental market research report can be broken down by market status, share, growth rate, future trends, market drivers, opportunities and challenges, emerging trends, risks and barriers to entry, sales channels and distributors, among others. . This business research provides the latest industry data and market forecasts, allowing you to identify products and end users driving revenue growth and profitability. The research also includes information on detailed segmentation analysis, revenue forecasts, and market geographies, which helps all the businesses to flourish. The report, with the help of detailed business profiles, hands-on project analysis, SWOT analysis, Porter Five Forces model and some different information about the major organizations working in the car rental market in Mexico, presents a point-by-point scientific dossier. of the competitive scenario of the market. The report also presents a review of the effect of recent market developments on the future development prospects of the market.
𝗧𝗼𝗽 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗜𝗻𝗰𝗹𝘂𝗱𝗲: Hertz Corporation, Sixt SE, Avis Budget Group Inc., Alamo, National Car Rental, Europcar Group SA, MEX Rent a Car, Budget Rent A Car System, Inc., Fox Rent A Car and Thrifty Car Rental, Inc.
- Car rental market in Mexico, by car type:
- Economy car
- compact car
- Intermediate car
- high-end car
- Luxury car
- sport utility vehicle
- Others (includes minivans, vans, etc.)
- Mexico car rental market, by booking type:
- Offline access
- Mobile app
- Other internet access
𝗚𝗲𝘁 𝗣𝗗𝗙 𝗕𝗿𝗼𝗰𝗵𝘂𝗿𝗲 𝗗𝗶𝘀𝗰𝗼𝘃𝗲𝗿 𝗺𝗼𝗿𝗲 𝗮𝗯𝗼𝘂𝘁 𝗿𝗲𝗽𝗼𝗿𝘁 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝘄𝗶𝘁𝗵 𝗳𝗶𝗴𝘂𝗿𝗲𝘀 𝗮𝗻𝗱 𝗱𝗮𝘁𝗮 𝘁𝗮𝗯𝗹𝗲𝘀 𝘁𝗮𝗯𝗹𝗲𝘀 𝘁𝗮𝗯𝗹𝗲𝘀 𝘁𝗮𝗯𝗹𝗲𝘀 𝘁𝗮𝗯𝗹𝗲𝘀 𝗮𝗹𝗼𝗻𝗴 𝗮𝗹𝗼𝗻𝗴 𝘁𝗵𝗲 𝘁𝗮𝗯𝗹𝗲 𝗼𝗳 𝗰𝗼𝗻𝘁𝗲𝗻𝘁𝘀 𝗰𝗼𝗻𝘁𝗲𝗻𝘁𝘀 𝗰𝗼𝗻𝘁𝗲𝗻𝘁𝘀: https://www.coherentmarketinsights.com/insight/request-pdf/3177
A car rental, vehicle rental, or rent-a-car service is a private business that rents cars to the general public, typically for several days to a few months. Car rentals are available in almost every city, state and country around the world. Car rental services are very popular all over the world. Since most people prefer to lease rather than buy a new vehicle, car rental companies have grown rapidly over the years and can be found in almost every city and country.
Key Market Drivers:
Improving living standards and growing number of leisure travelers in Mexico are driving the growth of the Mexican car rental market. Thus, the expansion of travel and tourism will also promote the growth of the market. According to Mexican embassies abroad, in the first quarter of 2021, US nationals accounted for 75% of all passengers arriving in Mexico by air. Of all arrivals, Canadians represented 1.6%, Europeans 7.1% and South Americans 11.6% (mainly from Colombia 2.8% and Brazil 2.2%).
The increasing adoption of growth strategies such as mergers and acquisitions by key players is expected to drive the market growth. For example, in August 2021, Hyatt Hotels Corporation announced that Hyatt had entered into a definitive agreement to acquire Apple Leisure Group (ALG), a luxury resort management, travel and hospitality services group, from subsidiaries of each from KKR and KSL Capital Partners, LLC for $2.7 billion in cash.
Covid-19 impact analysis
The spread of Covid-19 has had a huge impact on the travel and tourism industry due to travel restrictions. The negative effect on travel and tourism had a parallel impact on the car rental market. With the lockdown rules and regulations in place, demand for rental cars near airports was low. This has had a negative impact on the growth of the car rental market in Mexico.
Key points to remember:
The Mexican car rental market is expected to show a CAGR of 8.6% over the forecast period, due to the increasing launch of advanced approaches for car rental agencies in Mexico.
An increasing number of partnerships and collaborations to expand customer reach is driving the growth of the market. For example, in June 2017, HTZ announced that its subsidiary The Hertz Corporation had signed an agreement with Hertz Mexico (operated by Avasa) and the main Mexican airline – Aeroméxico.
𝗚𝗲𝘁 𝟮𝟬𝟬𝟬 𝗨𝗦𝗗 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 𝗼𝗻 𝗕𝘂𝘆𝗶𝗻𝗴 𝘁𝗵𝗶𝘀:
➣ What is the Mexico Car Rental market size and what is the expected growth rate?
➣ What are the main variables driving the Mexican car rental market forward?
➣ What are the main car rental companies in Mexico?
➣ What are the many types of car rental market in Mexico?
➣ Which segment or region will experience the fastest growth?
➣ What role do critical actors play in the value chain?
➣ Over the forecast period, which applications and product segments are expected to be the most profitable?
➣ What factors are expected to hinder the expansion of the Global Mexico car rental market?
𝗧𝗮𝗯𝗹𝗲 𝗢𝗳 𝗖𝗼𝗻𝘁𝗲𝗻𝘁:
1. Market Overview
¤ Research objective and hypothesis
¤ Research objectives
2. Competence of the market
¤ Description of the report
¤ Definition and scope of the market
¤ Executive Summary
• Market extract, by function
• Market extract, by application
• Market extract, by region
¤ Coherent Map of Opportunities (COM)
3.Analysis of market dynamics, regulations and trends
¤ Market dynamics
• Market opportunities
• Regulatory scenario
• Industry trend
• Merger and acquisition
• Launch/Approvals of the new system
• Value chain analysis
• Porter’s analysis
• PEST analysis
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Mexico Car Rental Market Expected to Grow at a CAGR of 8.6% Between 2022 and 2027 | Hertz Corporation, Sixt SE, Avis Budget Group Inc., Alamo, National Car Rental appeared first on Gatorledger.