Car Rental Market Research Report: Global Industry Analysis and Forecast to 2024 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Car Rental Market Research Report: By Vehicle Type, Channel, Purpose, Usage, Geographical Outlook - Global Industry Analysis and Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The World Travel and Tourism Council reported that in 2018, a growth of 3.9% was witnessed by the global travel and tourism industry. It created more than 319 million jobs worldwide and amassed $8.8 trillion in 2018.

This massive growth in the industry also boosted the growth of other related industries, such as car rental. Nowadays, tourists prefer renting cars to explore a new place as it gives them the flexibility of planning their own itinerary without the fear of relying on public transport system.

Witnessing a 7.9% CAGR, the car rental market is expected to generate a revenue of $122.6 billion in the coming years. Car rental services are offered via three different vehicle types: luxury, executive, and economy. During 2014-2018, the economy vehicle type was used the most for car rental services.

These cars are inexpensive and are smaller in size and have a seating capacity of four to five persons. Being smaller in size, these cars have a high fuel efficiency, which makes them a suitable option for rental services. Further, amidst growing environmental concerns, these cars are witnessing a high demand as their impact on the environment is not as severe as other cars.

In the coming years, the luxury cars are predicted to register a faster growth in demand, as the global disposable income is improving. These cars offer superior performance, comfort, and have better configuration.

One of the key trends in the car rental market is the deployment of electric vehicles for rental purposes. In wake of rising concerns about vehicular emission, governments of many countries are bringing in stringent regulatory policies to cut down on such emissions. From offering subsidies and incentives to creating awareness about the harmful effects of conventional energy sources on the environment, governments and various organizations are working toward popularizing the use of electric vehicles.

The popularity of the internet has resulted in the development of the online or digital car rental system, which is helping the car rental sector become more organized. Online car rental allows the consumers to shortlist the car of choice, and make bookings well in advance without the hassle of visiting the office. Therefore, the digitization of the car rental process has made it much safer, transparent, and cost-effective, which has been instrumental in making these services popular.

Key Topics Covered:

Chapter 1. Research Background

1.1 Research Objectives

1.2 Market Definition

1.3 Research Scope

1.3.1 Market Segmentation by Vehicle Type

1.3.2 Market Segmentation by Channel

1.3.3 Market Segmentation by Purpose

1.3.4 Market Segmentation by Usage

1.3.5 Market Segmentation by Region

1.3.6 Analysis Period

1.3.7 Market Data Reporting Unit

1.3.7.1 Value

1.4 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research

2.2 Primary Research

2.2.1 Breakdown of Primary Research Respondents

2.2.1.1 By region

2.2.1.2 By industry participant

2.2.1.3 By company type

2.3 Market Size Estimation

2.4 Data Triangulation

2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction

4.1 Definition of Market Segments

4.1.1 By Vehicle Type

4.1.1.1 Economy

4.1.1.2 Executive

4.1.1.3 Luxury

4.1.2 By Channel

4.1.2.1 Online

4.1.2.2 Offline

4.1.3 By Purpose

4.1.3.1 Business

4.1.3.2 Personal

4.1.4 By Usage

4.1.4.1 Local

4.1.4.2 Airport

4.1.4.3 Outstation

4.2 Value Chain Analysis

4.3 Market Dynamics

4.3.2 Drivers

4.3.3 Restraints

4.3.4 Opportunities

4.4 Porter's Five Forces Analysis

Chapter 5. Global Market Size and Forecast

Chapter 6. North America Market Size and Forecast

Chapter 7. Europe Market Size and Forecast

Chapter 8. APAC Market Size and Forecast

Chapter 9. RoW Market Size and Forecast

Chapter 10. User Analysis

10.1 North America

10.1.1 Car Rental User Analysis

10.1.1.1 By gender

10.1.1.2 By usage

10.1.1.3 By rental length

10.1.2 Customers' Motivation

10.1.3 Customer Behavior and Trends

10.2 Europe

10.3 APAC

Chapter 11. Competitive Landscape

11.1 Market Share Analysis of Key Players

11.2 Benchmarking of Key Players

11.3 Strategic Developments of Key Players

11.3.1 New Service Launch

11.3.2 Mergers and Acquisitions

11.3.3 Partnership

11.3.4 Service Expansions

11.3.5 Geographic Expansion

11.3.6 Other Developments

Chapter 12. Company Profiles

12.1 ANI Technologies Pvt. Ltd.

12.2 Uber Technologies Inc.

12.3 Beijing Xiaoju Technology Co. Ltd. (Didi Chuxing)

12.4 Addison Lee Ltd.

12.5 Shenzhou Youche (Fujian) Information Technology Co. Ltd. (UCAR)

12.6 Hertz Global Holdings Inc.

12.7 Avis Budget Group Inc.

12.8 Enterprise Holdings Inc.

12.9 Europcar Mobility Group S.A.

12.10 Sixt SE

12.11 Car2Go Ltd.

12.12 Localiza Rent a Car S.A.

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