The Global Car Rental Market, valued at USD 66.35 Billion in the year 2020 has been witnessing unprecedented growth in the last few years on the back of growing urbanisation and rising economy. Additionally, increasing digitalisation and rising travel and tourism sector will drive the Car Rental Market value in the near future. The COVID-19 pandemic has a major impact on the functioning and performance of car rental industry as the pandemic resulted in lockdowns and travel restrictions but as mass vaccination progresses and restrictions eased, the industry is likely to resume growth in the second half of 2021.
Among the Customer in the Car Rental Market (Business and Leisure), Leisure is globally popular because the demand to travel by own and road trips with family is growing and the rising digitalisation and internet penetration is expected to drive market in the forecast period.
Among the Application of the Car Rental Market (Airport and Off-Airport), Off-Airport holds large share and dominates Car Rental industry globally and is expected to keep growing rapidly in the forecast period. The rising demand to travel within country with family is main factor for growth. Also, the rising demand of rental cars for business purpose will be driving the demand in future.
Among the Type of the Car Rental Market (Economy, Executive, Luxury, MUV and SUV), Economy type is largely popular in Car Rental Market globally as it is widely used and is expected to keep growing rapidly in the forecast period as economy car is cost efficient, which is preferred by most of the users.
The North American market is expected to lead the global market throughout the forecast period. The rising business trips in the region with rising tourism sector expected to infuse market growth tremendously.
Scope of the Report
- The report presents the analysis of Car Rental Market for the historical period of 2016-2020 and the forecast period of 2021-2026.
- The report analyses the Car Rental Market by Customer (Business and Leisure).
- The report analyses the Car Rental Market by Application (Airport and Off-Airport).
- The report analyses the Car Rental Market by Type (Economy, Executive, Luxury, MUV, SUV).
- The Global Car Rental Market has been analysed By Region (North America, Europe, Asia Pacific and ROW) and By Country (U.S., Canada, Germany, France, U.K., China, India, Brazil, Saudi Arabia and UAE).
- The attractiveness of the market has been presented by region, by Customer, by Application and by Type. Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Hertz Global Holdings, Enterprise Holdings, Avis Budget Group, Europcar, Sixt SE, China Auto Rental Inc., eHi Car Services, UBER Technologies Inc., Localiza and Ola Cabs.
- The report analyses the impact of Covid-19 on Car Rental Market.
Key Target Audience
- Car Rental Vendors
- Consulting and Advisory Firms
- Government and Policy Makers
- Investment Banks and Equity Firms
- Regulatory Authorities