The Auto Channel
The Largest Independent Automotive Research Resource
The Largest Independent Automotive Research Resource
Official Website of the New Car Buyer

Car Rental Market to Garner $214.04 Bn, Globally, by 2027 at 10.7% CAGR: Allied Market Research

PORTLAND, Oregon, May 5, 2020 -- Allied Market Research recently published a report, "Car Rental Market by Application (Leisure and Commercial), Rental Category (On Airport and Off airport), and Vehicle Type (Luxury car, Executive car, Economical car, Sports Utility Vehicle (SUV), and Multi Utility Vehicle (MUV)): Global Opportunity Analysis and Industry Forecast, 2020–2027". According to the report, the global car rental industry was pegged at $92.92 billion in 2019, and is projected to reach $214.04 billion by 2027, growing at a CAGR of 10.7% from 2020 to 2027.

Download Sample Report (252 Pages) @ https://www.alliedmarketresearch.com/request-sample/2073

Major driver of the market growth

Rise in trend of on-demand transportation services and low rate of car ownership among millennials have boosted the growth of the global car rental market. However, low rate of Internet penetration in developing countries hampers the market growth. On the contrary, adoption of car rental management software is anticipated to open new opportunities in the coming years.

Commercial segment to portray highest CAGR through 2027

By application, the commercial segment is anticipated to manifest the highest CAGR of 11.5% during the forecast period. The tie-up between the commercial organization and car rental services providers to provide lucrative offers to the consumers makes commercial the fastest segment in the application. However, the leisure segment held the largest share in 2019, accounting for more than half of the market, due to rising urbanization, increase in fleet transportation and growing travel and tourism industry.

Get detailed Pre & Post COVID-19 Impact Analysis on the Car Rental Market @ https://www.alliedmarketresearch.com/request-for-customization/2073?reqfor=covid

Economical car held the largest share

The economical car held the largest share in 2019, contributing to nearly one-third of the market. This is due to expansion and progression of the travel & tourism industry and enhanced road infrastructure. However, the sports utility vehicle (SUV) segment is anticipated to register the fastest CAGR of 14.7% during the study period, owing to rise in population and increase in demand for rental cars due to the booming travel and tourism industry.

North America dominated the market

The market across North America held the largest share in 2019, contributing to more than two-fifths of the total revenue. This is owing to lack of route flexibility in public transportation and need of greener environment. However, the market across LAMEA is projected to portray the highest CAGR of 15.1% during the study period, due to development of the travel & tourism industry, rise in disposable income of people.

Interested to Procure The Data? Inquire Here: https://www.alliedmarketresearch.com/purchase-enquiry/2073

Major market players

  • Avis Budget Group, Inc
  • Enterprise Holdings, Inc.
  • EuropeCar
  • Localiza
  • Hertz System, Inc.
  • Carzonrent India Pvt Ltd.
  • Sixt
  • ANI Technologies Pvt. Ltd.
  • Eco Rent a Car

Avenue | the Market Research Library Access

Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. Avenue is a premium subscription-based model that serves as an informative solution on which the world-leading companies can rely on.

Avenue is a premium subscription-based model that serves as an informative solution on which the world-leading companies can rely on.

Sign up and start using your 14-day free trial: https://www.alliedmarketresearch.com/avenueTrial

Similar Reports: (15% Discount – Limited Offer)

Ride-Hailing Service Market

Electric Vehicle Market

Luxury Car Market

Luxury Yacht Market

Pre-book Offer 12% Discount:

Truck Rental and Leasing Market

Mobility on Demand Market

Car Rental Market in GCC Region - (Company Profile)

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]

Web: https://www.alliedmarketresearch.com 
Follow us on: https://www.linkedin.com/company/allied-market-research 
Allied Market Research Blog: blog.alliedmarketresearch.com   

SOURCE Allied Market Research