Global Car Rental Market to Reach $96.5 Billion by 2027
DUBLIN, Sept. 2, 2022 -- The "Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global car rental market reached a value of US$ 76.7 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 96.5 Billion by 2027, exhibiting a CAGR of 3.8% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Global Car Rental Market Trends and Drivers:
Significant growth in the travel and tourism industry across the globe is one of the key factors driving the growth of the car rental industry. Furthermore, the rising urban population with increasing inclination toward adventure and travel is also providing a boost to the market growth. In line with this, individuals are adopting car rental services in the form of taxis and carpooling for increased mobility and cost-effective traveling.
The implementation of favorable government policies, along with the increasing awareness regarding environment conservation, is acting as another growth-inducing factor. Governments of both the developed and emerging economies are emphasizing on minimizing their vehicular emissions and promoting car rental services as one of the most economical modes of transportation. Other factors, including the introduction of car rental services through websites and smartphone-based applications, coupled with increasing expenditure capacities of the masses, are expected to drive the market further.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global car rental market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on booking type, rental length, vehicle type, application and end-user.
Breakup by Booking Type:
- Offline Booking
- Online Booking
Breakup by Rental Length:
- Short Term
- Long Term
Breakup by Vehicle Type:
Breakup by Application:
Breakup by End-User:
Breakup by Region:
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Competitive Landscape:The global car rental industry is highly fragmented with the presence of several small and large players. Some of the major players in the market are:
- Avis Budget Group, Inc.
- Carzonrent India Private Limited
- Eco rent a car
- Sixt SE
- Enterprise Holdings, Inc.
- Enterprise Rent-A-Car
- The Hertz Corporation
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
5 Global Car Rental Market
6 Market Breakup by Booking Type
7 Market Breakup by Rental Length
8 Market Breakup by Vehicle Type
9 Market Breakup by Application
10 Market Breakup by End-User
11 Market Breakup by Region
12 SWOT Analysis
13 Value Chain Analysis
14 Porters Five Forces Analysis
15 Price Indicators
16 Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/687ibg
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets