Car Rental Market Future Trends, Prominent Players, Industry Impact and Forecast by 2024


Posted November 26, 2020 by Rahul_Gautam

Car Rental Market to Register 7.9% CAGR during 2019–2024
 
The travel and tourism industry across the globe has been registering significant growth over the past few years. As per the World Travel and Tourism Council, the global travel & tourism industry registered a growth of 3.9% in 2018, as compared to the previous years. Since the disposable income of people has been increasing in both developed and developing countries, they are becoming more inclined towards spending on leisure activities such as travelling. Transportation is an important part of the travel & tourism industry, which is why several hotels provide scooter and car rental services so that the guests can indulge in sightseeing activities with ease.

Attributed to this, the demand for car rental services is rising swiftly. According to a P&S Intelligence report, the global car rental market is predicted to generate a revenue of $122.6 billion by 2024, rising from $78.7 billion in 2018, advancing at a 7.9% CAGR during the forecast period (2019–2024). Car rental services are offered via luxury, economy, and executive vehicles, among which, the demand for economy vehicles was the highest in the past. This is because of the high fuel efficiency of these cars, which increases their adoption by fleet operators for providing car rental services.

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This Study Covers:

Historical and the present size of the market segments and understand their comparative future potential
Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
Major players operating in the market and their service offerings
Recent strategic developments by the major players in the market
Market Segmentation by Vehicle Type

Economy
Executive
Luxury
Market Segmentation by Channel

Online
Offline
Market Segmentation by Purpose

Business
Personal
Market Segmentation by Usage

Local
Airport
Outstation
Market Segmentation by Region

North America Car Rental Market
By vehicle type
By channel
By purpose
By usage
By country- U.S. and Canada
Europe Car Rental Market
By vehicle type
By channel
By purpose
By usage
By country- Germany, U.K., France, Italy, Spain, Netherlands, and Rest of Europe
APAC Car Rental Market
By vehicle type
By channel
By purpose
By usage
By country- China, Japan, India, Australia, and Rest of APAC
RoW Car Rental Market
By vehicle type
By channel
By purpose
By usage
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Issued By Rahul Gautam
Country India
Categories Automotive , Business , Research
Tags apac car rental market , asia car rental market , car rental market , car rental market forecast , car rental market report
Last Updated November 26, 2020