Airport Car Rental Market: Trends, Opportunities and Competitive Analysis
NEW YORK, Nov. 18, 2022 --
Trends, opportunities and forecast in airport car rental market to 2027 by customer (business, leisure and other), by vehicle (luxury car, executive car, economy car, SUV’s, and MUV’s), 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)
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Airport Car Rental Market Trends and Forecast
The future of the global airport car rental industry looks promising with opportunities in business and leisure travel segments. The global airport car rental industry is expected to reach an estimated $63.4 billion by 2027 with a CAGR of 6.1% from 2021 to 2027. The major drivers for this market are increasing in air travel, rising increased volume of domestic and inbound tourists, and rising level of disposable income.
Emerging Trends in the Airport Car Rental Market
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing adaptation of electric vehicle and integration of IoT to provide value added services, such as booking, passenger safety, and assistance.
Airport Car Rental Market by Segments
The analyst forecasts that leisure travelers will remain the largest segment, and it is also expected to witness the highest growth over the forecast period. The study includes trends and forecast for the global airport car rental market by customer type, booking type, vehicle type, transmission, and region, as follows:
Airport Car Rental Market by Customer Type [$B Shipment analysis from 2016 to 2027]
• Business
• Leisure
• Others
Airport Car Rental Market by Booking Type [$B Shipment analysis from 2016 to 2027]
• On-Line
• Off-Line
Airport Car Rental Market by Vehicle Type [$B Shipment analysis from 2016 to 2027]
• Luxury Cars
• Executive Cars
• Economy Cars
• Sports Utility Vehicles
• Others
Airport Car Rental Market by Transmission Type [$B Shipment analysis from 2016 to 2027]
• Manual
• Automatic
Airport Car Rental Market by Region [$B Shipment analysis from 2016 to 2027]
• North America
• US
• Canada
• Mexico
• Europe
• Germany
• France
• Spain
• United Kingdom
• Italy
• Asia Pacific
• China
• India
• Japan
• Hong Kong
• South Korea
• Malaysia
• Taiwan
• Philippines
• Vietnam
• Indonesia
• Thailand
• Sri Lanka
• The Rest of the World
• Brazil
• Argentina
List of Airport Car Rental Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies airport car rental companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the airport car rental companies profiled in this report includes.
• Enterprise Rent-A-Car
• Hertz Group
• Avis Budget Group Inc.
• Europcar Mobility Group
• Sixt SE
• Localiza Rent a Car
• Ichinen Holdings
• Redcap Tour
• Empresas Tattersall
Airport Car Rental Market Insights
• The analyst forecasts that leisure customer will remain the largest market by location type and it is also expected to witness the highest growth during 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 expansion in the distribution network in suburban or under served areas. 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. The market is moving towards consolidation as big players are acquiring small players to increase their market share.
Features of the Global Airport Car Rental Market
• Market Size Estimates: Global airport car rental market size estimation in terms of value ($B).
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments.
• Segmentation Analysis: Global airport car rental market size by various segments, such as by customer type, vehicle type, booking type, and transmission in terms of value.
• Regional Analysis: Global airport car rental market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different segments and regions for the global airport car rental market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the global airport car rental market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model
FAQ
Q1. What is the airport car rental market size?
Answer: The global airport car rental market is expected to reach an estimated $63.4 billion by 2027.
Q2. What is the growth forecast for airport car rental market?
Answer: The airport car rental market is expected to grow at a CAGR of 6.1% from 2021 to 2027.
Q3. What are the major drivers influencing the growth of the airport car rental market?
Answer: The major drivers for this market are increasing in air travel, rising increased volume of domestic and inbound tourists, and rising level of disposable income.
Q4. What are the major traveler types or end use industries for airport car rental?
Answer: Leisure travel is the major segment by traveler type for airport car rental.
Q5. What are the emerging trends in airport car rental market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include increasing adaptation of electric vehicle and integration of IoT to provide value added services, such as booking, passenger safety, and assistance.
Q6. Who are the key airport car rental companies?
Answer: Some of the key airport car rental companies are as follows:
• Enterprise Rent-A-Car
• Hertz Group
• Avis Budget Group Inc.
• Europcar Mobility Group
• Sixt SE
• Localiza Rent a Car
• Ichinen Holdings
• Redcap Tour
• Empresas Tattersall
Q7. Which airport car rental customer type segment will be the largest in future?
Answer: The analyst forecasts that leisure customer will remain the largest market by customer type and it is also expected to witness the highest growth during the forecast period due to the rise in air travel and increasing domestic tourism.
Q8: In airport car rental market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to remain the largest region mainly due to an increase in the volume of inbound and outbound tourists and expansion in the distribution network in suburban or under served areas. 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. The market is moving towards consolidation as big players are acquiring small players to increase their market share.
Q9. Do we receive customization in this report?
Answer: Yes, The analyst provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions
Q.1 What are some of the most promising growth opportunities for the global airport car rental market by customer (business, leisure and other), by vehicle (luxury car, executive car, economy car, SUV’s, and MUV’s), 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 drivers and challenges, and business risks in this market?
Q.5 What are the business risks and competitive threats in this market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are some of the changing demands of customers in the market?
Q.8 What are the new developments in the market and which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being taken by key players for business growth?
Q.10 What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q.11 What M&A activity has occurred in the last five years?
For any questions related to airport car rental market or related to airport car rental market share, airport car rental market analysis, airport car rental market size, write Lucintel analyst at email: [email protected]. We will be glad to get back to you soon.
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