Car Rental Industry Analysis: Global Market Share, Demand, Scope, & Trends

New York, USA, 2018-Jul-30 — /EPR Network/ —According to Goldstein Research, Global car rental market is expected to reach USD8.51 billion by the end of 2024, growing at a CAGR of 5.7% over the forecast period, 2016-2024. The growth in travel and tourism industry, internet penetration and government policies in favour of foreigners driving the vehicles, are the major factors driving the growth of car rental market.

Global Car rental market segmentation has been done on the basis of rental type, services, vehicles, mode of booking and geography. Online booking segment had taken over the market share with 70% in 2016. Offline mode of booking is expected to decline by 15% over the forecast period. Global Car rental market is dominated by North America with 40% revenue share in 2016. Asia-Pacific region observes the growing travel and tourism sector, thus accounts for high opportunities for growth of car rental services.

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Market Segmentation

On the basis of our in-depth analysis, Global Car Rental Market can be segmented as follows:

By Rental Type

• Interstate Services
• Intrastate Services
• Airport Transfers

By Services Type

• Chauffeur Drive
• Special Events
• Self-Driving
• Car Pool
• Taxi Services

By Vehicles

• Luxury Cars
• Executive Cars
• Economy Cars
• Sports Utility Vehicles
• Multi Utility Vehicles

By Mode of Booking

• Online Bookings
• App-based car rental services
• Telephonic car rental services
• Web-Based Car Rental Services
• Offline Bookings

On the basis of region

• North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
• Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of the Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Asia Pacific Car Rental Market (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

“Car Rental Industry Analysis” contains the detailed overview of the Global Car rental market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by rental type, service type, vehicles and mode of booking.

Further, for the in-depth analysis, Global Car Rental Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This  market analysis report also includes competitive outlook of some of the major players profiling of companies such Rent-A-Car, Hertz Global Holdings, Inc., Avis Budget Group Inc., Europcar Groupe S.A., Sixt AG., Carzonrent, Enterprise Holding, Uber, OLA, LYFT, Hailo, Grab Taxi, Didi Dache, Gett, LeCAb, cavity,etc.

The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents the global car rental market trends along with the market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

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