Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

  • June 2020 •
  • 111 pages •
  • Report ID: 5917256 •
  • Format: PDF
The global car rental market is currently witnessing strong growth.

Car rental refers to the facility of renting automobiles temporarily for a predefined period through online or offline channels. Car rental services are primarily aimed at serving travelers and individuals who do not own private vehicles. Renting automobiles is considered to be a more cost-effective alternative to owning a vehicle as it offers freedom of movement, low-cost traveling and enables the evasion of high ownership costs. The service providers also offer various other products, such as car damage repair, insurance compensation policies, entertainment systems, global positioning systems (GPS) and Wi-Fi networks, for providing enhanced convenience to users.

Significant growth in the travel and tourism industry across the globe is one of the key factors driving the growth of the market. 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. Additionally, 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 projected to drive the market further. Looking forward, the analyst expects the market to register a CAGR of around 7% during 2020-2025.

Breakup by Booking:
Offline Booking
Online Booking

Breakup by Rental Length:
Short Term
Long Term

Breakup by Vehicle Type:
Luxury
Executive
Economy
SUVs
Others

Breakup by Application:
Leisure/Tourism
Business

Breakup by End-User:
Self-Driven
Chauffeur-Driven

Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Avis Budget Group, Inc., Carzonrent India Private Limited, Eco rent a car, Enterprise Holdings, Inc., Enterprise Rent-A-Car, Europcar, Localiza, Sixt SE, The Hertz Corporation, etc.

Key Questions Answered in This Report:
How has the global car rental market performed so far and how will it perform in the coming years?
What are the key regional markets?
What is the breakup of the market based on the booking?
What is the breakup of the market based on the rental length?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end-user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the market?
What is the structure of the global car rental market and who are the key players?
What is the degree of competition in the market?