The report on global car rental market provides qualitative and quantitative analysis for the period of 2016 to 2024. The report predicts the global car rental market to grow with a CAGR of 10.9% over the forecast period of 2018-2024. The study on car rental market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Row for the period of 2016 to 2024.
Increase in international tourism coupled with awareness about rental car services are anticipated to be the major factors driving the growth of the car rental market. Additionally, increasing trend of using internet for customizing travel trips and online reservations and bookings are expected to boost the use of technology in the car rental market over the upcoming years. Moreover, leading car rental service providers are offering quality services and promoting their brands at airports and this is helping customers to adopt their services. However, Fluctuation in the crude oil prices and increased operational cost are the factors anticipated to hamper the growth of the car rental market over the forecast period.
On the other hand, Several car companies are using mobile-based applications to communicate the fare, discount coupons, promotional offers, availability of cars, and real-time tracking details to the consumers .This in turn is providing several opportunities for the key players in the car rental market. Furthermore, trouble free process of online reservations and bookings increases convenience for both the operators and customers, which is anticipated to open doors of opportunity for the industry growth in the upcoming years.
Among the geographies, North America dominated the car rental market followed by Asia Pacific owing to the consumer preference coupled with presence of large number of key operators in the North American regions. Moreover, growing number of business trips as both domestic and international and number of air travelers is expected to increase the demand of such services in the North American regions. On the other hand, expansion of leading car rental companies along with technological advancements in the regions such as Asia Pacific is anticipated to nurture demand for car rental services in the upcoming years. Moreover, strengthening position of the medical tourism industry is augmented to drive the Asia Pacific market for car rentals in the years to come.
The report on car rental market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global car rental market over the period of 2016 to 2024. Moreover, the report is collective presentation of primary and secondary research findings.
Porter’s five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global car rental market over the period of 2016 to 2024. Further, IGR- Growth Matrix given in the report brings an insight on the investment areas that existing or new market players can consider.
A) Primary Research
Our primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached through
1. Key Opinion Leaders associated with Infinium Global Research
2. Internal and External subject matter experts
3. Professionals and participants from LinkedIn, Hoovers, Factiva and Bloggers
Our primary research respondents typically include
1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/ country managers
5. Vice President level executives.
B) Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.
The secondary sources of the data typically include
1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
The global car rental market is segmented on the basis of car type, category and fuel type.
Global Car Rental Market by Car Type
? Luxury Cars
? Economy Cars
Global Car Rental Market by Category
? Local Usage
? Airport Transport
Global Car Rental Market by Fuel Type
? Gasoline And Petrol
? Al-Futtaim Group
? The Hertz Coorporation
? Avis Budget Group, Inc.
? Enterprise Rent-A-Car
? Uber Technologies.inc
? Enterprise Holding inc.
? Al-Futtaim Group
How this report delivers?
1. Comprehensive analysis of global as well as regional markets of car rental market.
2. Complete coverage of all the segments in car rental market to analyze the trends, developments in the global market and forecast of market size up to 2024.
3. Comprehensive analysis of the companies operating in global car rental market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. IGR- Growth Matrix presents analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.