The future of the airport car rental market looks promising with opportunities in business and leisure travelers. The airport car rental market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $42.0 billion by 2025 with a CAGR of 1% to 3% from 2020 to 2025. The major drivers for this market are increasing air travel, high volume of domestic and international tourism, and a rising level of disposable income.
Emerging trends, which have a direct impact on the dynamics of the airport car rental industry, include increasing adaptation of electric vehicle and integration of IoT to provide value added services, such as booking, passenger safety, and assistance.
A total of 127 figures / charts and 97 tables are provided in this 200 -page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies research and other details of this airport car rental market report download the report brochure.
In this market, on-line is the largest segment by booking type, whereas economy cars is the largest segment by vehicle type. Growth in various segments of the airport car rental market are given below:
Airport Car Rental Market by Segments
The study includes the airport car rental market size and forecast for the airport car rental market through 2025, segmented by traveler type, vehicle type, booking type, transmission type, and region, as follows:
Airport Car Rental Market by Traveler Type ($ Billion from 2014 to 2025)
Airport Car Rental Market by Vehicle Type ($ Billion from 2014 to 2025)
- Economy car
- Luxury car
- Compact car
Airport Car Rental Market by Booking Type ($ Billion from 2014 to 2025)
Airport Car Rental Market by Transmission Type ($ Billion from 2014 to 2025)
Airport Car Rental Market by Region ($ Billion from 2014 to 2025)
- North America
- United Kingdom
- Asia Pacific
- Hong Kong
- The Rest of the World
Some of the airport car rental companies profiled in this report include Enterprise Rent A Car, Hertz Global Holdings, Avis Budget, Europcar, Uber, Sixt, Localiza Rent a Car, Ichinen Holdings, Redcap Tour, Empresas Tattersall, and Warisan.
On the basis of its comprehensive research, Lucintel forecasts that the economy car will remain the largest vehicle type used for car rental over the forecast period due to its low cost rental and easy availability.
Within the airport car rental industry, the leisure traveler is expected to remain the largest segment and it is also expected to witness the highest growth over the forecast period due to the rise in air travel and increasing domestic tourism.
North America is expected to remain the largest region mainly due to an increase in the volume of inbound and outbound tourists, and rising awareness for car sharing. Asia Pacific is expected to witness the highest growth over the forecast period due to the increasing air passenger traffic, rising disposable income, and construction of new airports.
Some of the features of this report:
- Market size estimates: Airport car rental market size estimation in terms of value ($B) shipment.
- Trend and forecast analysis: Market trend (2014-2019) and forecast (2020-2025) by application, and end use industry.
- Segmentation analysis: Airport car rental market size by various customer, transmission, vehicle, and booking in terms of value and volume shipment.
- Regional analysis: Airport car rental market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth opportunities: Analysis on growth opportunities in different applications and regions of airport car rental in the airport car rental market.
- Strategic analysis: This includes M&A, new product development, and competitive landscape of airport car rental in the airport car rental market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the airport car rental market by traveler (business, leisure and other), by vehicle (economy car, compact car, luxury car, SUV’s, and others), by booking (on-line and off-line), by transmission (manual and automatic), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this airport car rental market?
Q.6. What are the emerging trends in this airport car rental market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the airport car rental market?
Q.8. What are the new developments in the airport car rental market? Which companies are leading these developments?
Q.9. Who are the major players in this airport car rental market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this airport car rental market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the airport car rental industry?
Key Features Description
Base Year for Estimation 2019
(Actual Estimates) 2014-2019
Forecast Period 2020-2025
Market Representation / Units Revenue in US $ Billion
Report Coverage Market Trends & Forecasts, Competitor Analysis, New Product Development, Company Expansion, Merger Acquisitions & Joint Venture, and Company Profiling
Market Segments By traveler (business, leisure and other), By vehicle (economy car, compact car, luxury car, SUV’s, and others), By booking (on-line and off-line), By transmission (manual and automatic)
Regional Scope North America (United States, Canada,and Mexico), Europe (Germany, France, Spain, the United Kingdom, and Italy), Asia Pacific (China, Japan, Hong Kong, India, and Indonesia), and RoW (Brazil and Argentina)
Customization 10% Customization Without any Additional Cost