LONDON--(BUSINESS WIRE)--The car rental market is expected to grow by USD 103.75 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the car rental market in optimistic, probable, and pessimistic forecast scenarios.
The car rental market will witness Negative and Inferior impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase as compared to 2019.
Enterprises will go through Respond, Recover and Renew phases. Download free report sample
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through respond, recover and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID crisis and towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
Download the Post-Pandemic Business Planning Structure. Click here
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Car Rental Market Participants:
- Avis Budget Group Inc.
- Carzonrent India Pvt. Ltd.
- Enterprise Holdings Inc.
- Europcar Mobility Group SA
- Expedia Group Inc.
- Hertz Global Holdings, Inc.
- Localiza Rent a Car SA
- Movida Participações SA
- SIXT SE
- Turo Inc.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/ car rental market-industry-analysis
Car Rental Market 2020-2024: Segmentation
Car Rental is segmented as below:
- Economy cars
- executive cars
- luxury cars
Mode of Booking
- Airport transport
- Local transport
- Outstation transport
- Other transport
- North America
- South America
The car rental market is driven by incorporation of advanced digital technologies. In addition, other factors such as advances in rental processes is expected to trigger car rental market toward witnessing a CAGR of over 17% during the forecast period.
Get more insights about the global trends impacting the future of Car Rental Market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR40065
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.