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Car Rental Market Size, Demand, Revenue Growth, Structure and Competitive Analysis by 2025

by Atul Darmora 2 months ago in industry

Car Rental Market

The global car rental market grew at a CAGR of around 8% during 2014-2019. Looking forward, IMARC Group expects the global market has huge potential for growth during 2020-2025. Car rental is the facility of renting vehicles temporarily for a predefined period through online or offline channels. Car rental services are primarily focused on serving travelers and individuals who do not own private automobiles. Car rental is a cost-effective alternative to owning a vehicle as it offers low-cost traveling, freedom of movement, and reduced fuel consumption on individual vehicles. Several car rental service providers also offer various other services, such as car damage repair, insurance compensation policies, entertainment systems, GPS and Wi-Fi networks, for an enhanced consumer experience.

The rising urban population, coupled with significant expansion of the travel and tourism industry across the globe, are primarily driving the car rental market growth. Furthermore, the rising adoption of car rental services in the form of taxis and carpooling for increased mobility and cost-effective traveling is also propelling the global market. Additionally, due to the rising air pollution, the governments of several countries are focusing on minimizing vehicular emissions and promoting car rental services as one of the most economical and sustainable modes of transportation. Other factors, such as the introduction of car rental services through websites and smartphone-based applications, rising consumer disposable income levels, the growing number of car rental service providers, etc., are further expected to drive the global car rental market growth in the coming years.

Get a PDF sample of this research report: https://www.imarcgroup.com/car-rental-market/requestsample

Car Rental Market 2020-2025 Competitive Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the global car rental market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Avis Budget Group Inc.

• Europcar

• Carzonrent India Private Limited

• Eco rent a car

• Enterprise Holdings Inc.

• Enterprise Rent-A-Car

• Localiza

• Sixt SE

• The Hertz Corporation

The report has segmented the global car rental market on the basis of booking, rental length, vehicle type, application, end-user and region.

Breakup by Booking:

• Offline Booking

• Online Booking

Breakup by Rental Length:

• Short Term

• Long Term

Breakup by Vehicle Type:

• Luxury

• Executive

• Economy

• SUVs

• Others

Breakup by Application:

• Leisure/Tourism

• Business

Breakup by End-User:

• Self-Driven

• Chauffeur-Driven

Breakup by Region:

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East and Africa

Explore full report with table of contents: https://www.imarcgroup.com/car-rental-market

Key highlights of the report:

• Market Performance (2014-2019)

• Market Outlook (2020- 2025)

• Industry Trends

• Market Drivers and Success Factors

• The Impact of COVID-19 on the Market

• Value Chain Analysis

• Structure of the Global Market

• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Atul Darmora
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