DUBLIN--(BUSINESS WIRE)--The "Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global car rental market reached a value of US$ 76.7 Billion in 2021. The market is forecast to reach US$ 96.5 Billion by 2027, exhibiting a CAGR of 3.8% during 2022-2027.
Significant growth in the travel and tourism industry across the globe is one of the key factors driving the growth of the car rental industry. Furthermore, the rising urban population with increasing inclination toward adventure and travel is also providing a boost to the market growth. In line with this, individuals are adopting car rental services in the form of taxis and carpooling for increased mobility and cost-effective traveling.
The implementation of favorable government policies, along with the increasing awareness regarding environment conservation, is acting as another growth-inducing factor. Governments of both the developed and emerging economies are emphasizing on minimizing their vehicular emissions and promoting car rental services as one of the most economical modes of transportation. Other factors, including the introduction of car rental services through websites and smartphone-based applications, coupled with increasing expenditure capacities of the masses, are expected to drive the market further.
The report provides an analysis of the key trends in each sub-segment of the global car rental market, along with forecasts at the global, regional and country level from 2022-2027.
The report has categorized the market based on booking type, rental length, vehicle type, application and end-user.
Breakup by Booking Type:
- Offline Booking
- Online Booking
Breakup by Rental Length:
- Short Term
- Long Term
Breakup by Vehicle Type:
- Luxury
- Executive
- Economy
- SUVs
- Others
Breakup by Application:
- Leisure/Tourism
- Business
Breakup by End-User:
- Self-Driven
- Chauffeur-Driven
Competitive Landscape:
The global car rental industry is highly fragmented with the presence of several small and large players. Some of the major players in the market are:
- Avis Budget Group, Inc.
- Carzonrent India Private Limited
- Eco rent a car
- Sixt SE
- Localiza
- Enterprise Holdings, Inc.
- Enterprise Rent-A-Car
- Europcar
- The Hertz Corporation
Key Questions Answered in this Report:
- How has the global car rental market performed so far and how will it perform in the coming years?
- What are the key regional markets?
- What has been the impact of COVID-19 on the global car rental market?
- What is the breakup of the market based on the booking type?
- What is the breakup of the market based on the rental length?
- What is the breakup of the market based on the vehicle type?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end-user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the market?
- What is the structure of the global car rental market and who are the key players?
- What is the degree of competition in the market?
For more information about this report visit https://www.researchandmarkets.com/r/jr2k0m
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