Global Car Rental Market: Size, Trends & Forecasts (2017-2021)
Scope of the Report
The report entitled “Global Car Rental Market: Size, Trends & Forecasts (2017-2021)”, provides analysis of the global car rental market, with detailed analysis of market size in terms of value and its segments.
The report also includes a detailed regional analysis of the car rental market in regions such as North America, Europe, Asia Pacific (Excluding Japan) and Latin America. Under competitive landscape different players in the global, the US and Europe car rental market have been compared on basis of their market share.
Moreover, the report assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall car rental market has also been forecasted for the years 2017-2021, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
Enterprise Holdings, Hertz Global Holdings Inc., and Avis Budget Group Inc. are some of the key players operating in the global car rental market whose company profiling is done in the report. In this segment of the report, business overview, financial overview and the business strategies of the companies are provided.
Hertz Global Inc.
Avis Budget Group Inc.
A car rental also known as a hire car, or car hire agency is a company that provides car rental services for shorter durations of time to customers for different purposes, such as outstation visits, sightseeing as well as business trips for corporates, etc. They are mainly located near airports or busy urban localities where the demand for car rental services in generally high.
The global car rental market can be divided on the basis of location, customer, vehicle type and mode of booking. On the basis of location, the market can be divided into off airport and on airport. On the basis of customer, the market can be divided into business, leisure and other activities. Luxury cars, executive cars, SUV and MUV are the sub segments under vehicle type. On the other hand, on the basis of customer booking the market can be divided into offline and online modes.
The global car rental market is expected to increase at high growth rates during the forecast period (2017-2021). The global car rental market is supported by various factors such as spike in air travel, increase in hotel occupancy rates and upsurge in disposable income.
Increase in the number of off lease vehicles, over fleeting in the US car rental market and high competition from car share providers are some of the challenges faced by the market. However, evolution of telematics solutions, introduction of autonomous cars and partnership of car rentals with app based cab companies are some of the latest trends in the market.