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
Car rental companies offer automobiles on rent with a suitable fee for a certain duration, which can range from hours to months. Presently, various types of cars including economy cars, executive cars, luxury cars, SUVs, and MUVs are available on rent. These cars are rented for different purposes such as airport transport, local usage, outstation, event transportation, self-drive, and employee transportation. Besides basic vehicle renting, car rental firms often offer additional services such as entertainment systems, GPS navigation systems, and insurance. These companies offer their facilities to people who do not own a vehicle, whose vehicles are out for maintenance, or have no access or limited access to personal vehicles. In addition, owners of broken vehicles and tourists & travelers avail these services. This service is generally structured across various local branches that facilitate customers to easily return vehicles at their preferred locations. The car rental procedure is often managed through websites, making way for customers to book their vehicles online. The market is anticipated to witness significant growth over the years, owing to low rate of car ownership among millennials and increasing trend of on-demand transportation services. The global car rental market is segmented on the basis of application, rental category, vehicle type, and geography. By application, it is classified into leisure and commercial. By rental category, it is divided into on-airport and off airport. On the basis of vehicle type, it is categorized into luxury car, executive car, economical car, sports utility vehicle (SUV), and multi utility vehicle (MUV). Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.. The key players analyzed in the Car rental market include Avis Budget Group, Inc, EuropeCar, Enterprise Holdings, Inc., Hertz System, Inc., Localiza, Sixt, Carzonrent India Pvt Ltd., Eco Rent a Car, and ANI Technologies Pvt. Ltd.
KEY BENEFITS FOR STAKEHOLDERS • This study presents the analytical depiction of the global car rental market along with the current trends and future estimations to depict the imminent investment pockets. • The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market. • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis. • The current market is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the market. • Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
By Application o Leisure o commercial
By Rental category o On airport o Off airport
By Car type o Luxury car o Executive car o Economical car o Sports utility vehicle (SUV) o Multi utility vehicle (MUV)
By Region o North America - U.S. - Canada - Mexico o Europe - UK - Germany - France - Spain - Rest of Europe o Asia-Pacific - China - Japan - India - South Korea - Rest of Asia-Pacific o LAMEA - Latin America - Middle East - Africa
KEY MARKET PLAYERS o Avis Budget Group o Europcar o Enterprise Holdings Inc. o Hertz System, Inc. o Localiza o SIXT o Uber Technologies, Inc. o Carzonrent India Pvt Ltd. o Eco Rent a Car o ANI Technologies Pvt. Ltd. (OLA TAXI’S)
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