Global Car Rental Business Industry to 2027 - Young Travelers to Provide Traction to Car Rental Business - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Car Rental Business - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Amid the COVID-19 crisis, the global market for Car Rental Business estimated at US$69.6 Billion in the year 2020, is projected to reach a revised size of US$89.6 Billion by 2027, growing at a CAGR of 3.7% over the period 2020-2027.

Airport, one of the segments analyzed in the report, is projected to record 2.8% CAGR and reach US$35.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-Airport segment is readjusted to a revised 4.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $26.9 Billion, While China is Forecast to Grow at 8% CAGR

The Car Rental Business market in the U.S. is estimated at US$26.9 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$12.2 Billion by the year 2027 trailing a CAGR of 8% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.7% CAGR.

Select Competitors (Total 131 Featured) -

• Avis Budget Group, Inc.
• Enterprise Holdings, Inc.
• Europcar Mobility Group
• Rent-A-Wreck of America, Inc.
• Sixt AG
• The Hertz Corporation

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• As Covid-19 Pandemic Decimates the Demand, Car Rental Business Market Set to Incur Huge Losses in 2020
• Battered Global Travel & Tourism Industry Steals All Hope From Car Rental Businesses
• An Introduction to Car Rental Business
• Evolution of Rent-A-Car Concept Over the Years
• Fleet Ownership Patterns: A Review
• Classification of Car Rental Business by Location & Sector
• Car Rental Business by Location
• Car Rental Business by Sector
• Car Rental Business: Current Market Scenario and Outlook
• Developed Regions: Primary Revenue Contributors
• High Growth Opportunities in Developing Regions
• COVID-19 Pandemic Set to Dent Economic Growth Across All Regions, While Inducing Weakness Into Car Rental Business Sector
• COMPETITIVE SCENARIO
• Car Rental Market: A Diverse Playfield
• Leading Car Rental Firms across Regional Markets
• Emphasis on Innovative Strategies
• Personalized Offers and Specialized Services
• Subscription Packages: The New Marketing Approach
• Price Matching Systems for Assuring Customers
• End-to-End Customer Support Remains Major Focus Area
• Mergers & Acquisitions (M&A) Gather Steam
• Recent Market Activity
• Car Rental Companies Lean Towards Shared Mobility Service

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Technology Innovations to Spearhead Growth in Post Covid Environment
• Automation Steps-In to Augment Car Rental Business Performance
• IoT Holds Positive Ramifications for Car Rental Automation
• AI Identified as the New Transformative Vehicle
• Convenient Bookings and Innovative Payment Options
• Online Booking Takes Car Rentals to Higher Grounds
• Smartphones & Mobile Apps Widen Scope & Span of Car Rental Business
• Increasing Implementation of GPS & Telematics
• Cloud-Based Car Rental Software: The Latest 'Tech' Innovation
• Medical Tourism, Overseas Education, and Large Sporting Events: Among Prominent Demand Drivers
• Key Medical Tourism Destinations by Region
• Select Most Attended Sporting Events in the World
• Young Travelers to Provide Traction to Car Rental Business
• Apprehensions Remain High on Revival of Luxury Car Rental Market
• Issues & Challenges
• Rise of Car Sharing Throws Up Biggest Challenge to Traditional Rent-A-Car Market
• Peer-to-Peer Ridehailing Drives Momentum in Car Sharing Volumes
• Car Sharing Attracts New Groups of Enterprises
• Car Manufacturers
• Power Companies
• Micromobility: Another Fast Emerging 'Muscular' Competitor
• Apprehensions Over Hidden and Additional Costs Among Cost Wary and Cost Conscious Consumers
• A Note on Additional Charges Levied In Addition to Base Rental Charges
• Growing Role of Video Conferencing and Digital Technologies in Business Communication

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/5ccc2u