The Infinium Global Research analyzes the report of Car Rental Market over the period of 2018 to 2024. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in Global Car Rental Market. It will help a lot of decision makers to develop strategies and find new opportunities in the Global markets of Car Rental.
The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Car Rental Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Car Rental Market are Carzonrent, Al-Futtaim Group, EuropCar, The Hertz Coorporation, sixt, Avis Budget Group, Inc., Enterprise Rent-A-Car, Uber Technologies.inc, Enterprise Holding inc. and Al-Futtaim Group. According to report the global car rental market is projected to grow at a CAGR of 10.9% over the forecast period of 2018-2024.
A car rental agency is a company that rents automobiles for short periods generally ranging from a few hours to a few weeks. Additionally, Car rental agencies primarily serve people who require a temporary vehicle. Along with the basic rental of a vehicle, car rental agencies offer extra products such as insurance, global positioning system (GPS) navigation systems, entertainment systems, mobile phones, and portable Wi-Fi and child safety seats.
Increase in international tourism coupled with awareness about rental car services are anticipated to be the major factors driving the growth of the car rental market. Additionally, increasing trend of using internet for customizing travel trips and online reservations and bookings are expected to boost the use of technology in the car rental market over the upcoming years. Moreover, leading car rental service providers are offering quality services and promoting their brands at airports and this is helping customers to adopt their services. However, Fluctuation in the crude oil prices and increased operational cost are the factors anticipated to hamper the growth of the car rental market over the forecast period.
On the other hand, Several car companies are using mobile-based applications to communicate the fare, discount coupons, promotional offers, availability of cars, and real-time tracking details to the consumers .This in turn is providing several opportunities for the key players in the car rental market. Furthermore, trouble free process of online reservations and bookings increases convenience for both the operators and customers, which are anticipated to open doors of opportunity for the industry growth in the upcoming years.
Among the geographies, North America dominated the car rental market followed by Asia Pacific owing to the consumer preference coupled with presence of large number of key operators in the North American regions. Moreover, growing number of business trips as both domestic and international and number of air travelers is expected to increase the demand of such services in the North American regions. On the other hand, expansion of leading car rental companies along with technological advancements in the regions such as Asia Pacific is anticipated to nurture demand for car rental services in the upcoming years. Moreover, strengthening position of the medical tourism industry is augmented to drive the Asia Pacific market for car rentals in the years to come.
The major players in the car rental market are Avis, Hertz, Sixt and GLobalCARS. These players in the car rental industry are concentrating on providing low-cost car services particularly for leisure markets. Additionally, Mahindra group’s e-vehicle arm Mahindra Electric has extended its partnership with car rental firm Zoom car. Moreover, Car services provider Avis India has announced the launch of its international transport drive service in the Indian market. On the other hand, Avis has provided its car rental services across 110 countries across EMEA, APAC, USA and Canada for its Indian customers.
The report on global car rental market covers segments such as, car type, and application and fuel type. On the basis of car type the global car rental market is categorized into luxury cars, economy cars, suvs and muvs. On the basis of application the global car rental market is categorized into local usage, airport transport and outstation. On the basis of fuel type the global car rental market is categorized into gasoline and petrol and diesel.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
Major Key Players Mentioned in this Premium Report
The report provides profiles of the companies in the global car rental market such as, Carzonrent, Al-Futtaim Group, EuropCar, The Hertz Coorporation, sixt, Avis Budget Group, Inc., Enterprise Rent-A-Car, Uber Technologies.inc, Enterprise Holding inc. and Al-Futtaim Group.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global car rental market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of car rental market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the car rental market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the car rental market to understand the present and future trends in this market and formulate their strategies accordingly.
Browse Detailed TOC, Description, and Companies Mentioned in Report @ https://www.infiniumglobalresearch.com/automotive/global-car-rental-market