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
