Market Research Logo

Car Rental Market Analysis By Vehicle Type (Luxury Cars, Executive Cars, Economy Cars, SUVs, MUVs), By Application (Local Usage, Airport Transport, Outstation) And Segment Forecasts To 2024

Car Rental Market Analysis By Vehicle Type (Luxury Cars, Executive Cars, Economy Cars, SUVs, MUVs), By Application (Local Usage, Airport Transport, Outstation) And Segment Forecasts To 2024

The global car rental market is expected to witness a substantial growth over the forecast period, reaching USD 119.56 billion by 2024, according to a new report by Grand View Research, Inc. The industry is primarily driven by the growth as well as expansion of the global travel and tourism industry. There has been a significant increase in the number of business and leisure trips worldwide over the past few years.

The advent of online rental portals has helped shape the dynamics of the car rental industry. Growing usage of smartphones and tablets has helped customers to book and reserve cars from anywhere at any point of time. Major players, such as Enterprise Rent-A-Car and Avis Budget Group, are now focusing on developing smartphone applications and optimizing their customer-friendly websites to facilitate quick and convenient bookings.

However, compliance with stringent vehicle emission regulations is expected to challenge the demand for these services across the world. In addition to this, the instability in crudeoil prices and growing demand for publictransportation are presumed to challenge the growth to some degree over the forecast period.

Further key findings from the report suggest:

An emerging trend in the travel and tourism industry which is gaining immense popularity is the evolution of “Bleisure”, which refers to a combination of leisure travel with business trips. The growth in this trend is presumed to propel the demand for car rentals among businesses as well as leisure travelers.

Executive cars are expected to witness a considerable growth with an estimated CAGR of close to 7% from 2016 to 2024. Swift globalization culminating into increased business trips across the globe is the primary factor propelling the growth of these cars in the near future.

In terms of application, airport transport dominated the overall industry share in 2015 and is presumed to retain its dominance over the next eight years. Rapid globalization has resulted in a significant increase in the number of air travelers across the globe, which, in turn, has bolstered the growth prospects of the industry.

The Asia Pacific market was valued at over USD 12 billion in 2015 and is presumed to witness a substantial growth over the forecast period. The significant regional growth prospects can be attributed to the rising economic development, enhanced road and infrastructure facilities, and growth in tourism over the forecast period.


Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
Chapter 3 Market Snapshot
3.1 Car Rental - Industry snapshot & key buying criteria, 2013 - 2024
Chapter 4 Industry Outlook
4.1 Market segmentation & scope
4.2 Car rental market size and growth prospects
4.2.1 Car rental market - A perspective
4.3 Car rental - Value chain analysis
4.3.1 Car rental - Supply chain analysis
4.4 Car rental market dynamics
4.4.1 Market Driver Analysis
4.4.1.1 Growth in the global leisure and corporate travelers
4.4.1.2 Increase in the number of mobile and Internet users worldwide
4.4.1.3 Globalization and increase in the global air travel
4.4.2 Market restraint analysis
4.4.2.1 Introduction of and compliance with stringent emission standards
4.4.2.2 Growth in the low-cost public transportation
4.4.2.3 Volatility in the crude oil prices
4.5 Industry Analysis - Porter’s
4.6 Car rental- Key company analysis, 2015
4.6.1 Key company analysis, 2015
4.7 Car rental - PESTEL analysis
4.8 Car rental - Market trends
4.8.1 Intermediaries
4.8.2 Value segment
4.8.3 Rental process improvements
4.8.4 Alternative service providers
4.8.5 Operating models
4.9 Perils in the car rental market
4.9.1 Pricing & consumer perception
4.9.2 Losing potential customers &higher distribution costs
4.9.3 Minimal loyalty for brands
4.9.4 Retention failure
4.9.5 Higher cost of customer acquisition
Chapter 5 Market Categorization 1: Vehicle Type Estimates & Trend Analysis
5.1 Car rental market: Vehicle-type movement analysis
5.1.1 Luxury cars
5.1.2 Executive cars
5.1.3 Economy cars
5.1.4 Sports Utility Vehicles (SUVs)
5.1.5 Multi Utility Vehicles (MUVs)
Chapter 6 Market Categorization 2: Application Estimates & Trend Analysis
6.1 Car rental market: Application movement analysis
6.1.1 On-airport car rental
6.1.2 Off-airport car rental
6.1.2.1 Local usage
6.1.2.2 Outstation
6.1.2.3 Others
Chapter 7 Market Categorization 3: Regional Estimates & Trend Analysis
7.1 Car rental market share by region, 2015 & 2024
7.2 North America
7.2.1 U.S.
7.3 Europe
7.3.1 France
7.3.2 Germany
7.3.3 UK
7.4 Asia Pacific
7.4.1 Japan
7.4.2 Korea
7.4.3 China
7.4.4 India
7.5 South America
7.6 Middle East and Africa (MEA)
Chapter 8 Competitive Landscape
8.1 Al-Futtaim Vehicle Rentals Company LLC
8.1.1 Company Overview
8.1.2 Financial Performance
8.1.3 Product Benchmarking
8.1.4 Strategic Initiatives
8.2 Avis Budget Group, Inc.
8.2.1 Company Overview
8.2.2 Financial Performance
8.2.3 Product Benchmarking
8.2.4 Strategic Initiatives
8.3 Carzonrent India Private Limited (CIPL)
8.3.1 Company Overview
8.3.2 Financial Performance
8.3.3 Product Benchmarking
8.3.4 Strategic Initiatives
8.4 Eco Rent A Car
8.4.1 Company Overview
8.4.2 Financial Performance
8.4.3 Product Benchmarking
8.4.4 Strategic Initiatives
8.5 Enterprise Rent-A-Car
8.5.1 Company Overview
8.5.2 Financial Performance
8.5.3 Product Benchmarking
8.5.4 Strategic Initiatives
8.6 Europcar
8.6.1 Company Overview
8.6.2 Financial Performance
8.6.3 Product Benchmarking
8.6.4 Strategic Initiatives
8.7 Localiza Rent a Car SA
8.7.1 Company Overview
8.7.2 Financial Performance
8.7.3 Product Benchmarking
8.7.4 Strategic Initiatives
8.8 The Hertz Corporation
8.8.1 Company Overview
8.8.2 Financial Performance
8.8.3 Product Benchmarking
8.8.4 Strategic Initiatives
8.9 Sixt SE
8.9.1 Company Overview
8.9.2 Financial Performance
8.9.3 Product Benchmarking
8.9.4 Strategic Initiatives
List of Tables
TABLE 1 Car Rental - Industry snapshot & key buying criteria, 2013 - 2024
TABLE 2 Global car rental market, 2013 - 2024 (USD Billion)
TABLE 3 Global car rental market estimates and forecasts by vehicle type, 2013 - 2024 (USD Billion)
TABLE 4 Global car rental market estimates and forecasts by application, 2013 - 2024 (USD Billion)
TABLE 5 Value addition by various entities involved in the value chain
TABLE 6 Car rental - Key market driver impact
TABLE 7 Global luxury car rental market by region, 2013 - 2024 (USD Million)
TABLE 8 Global executive car rental market by region, 2013 - 2024 (USD Million)
TABLE 9 Global economy car rental market by region, 2013 - 2024 (USD Million)
TABLE 10 Global SUV rental market by region, 2013 - 2024 (USD Million)
TABLE 11 Global MUV rental market by region, 2013 - 2024 (USD Million)
TABLE 12 Global on-airport car rental market by region, 2013 - 2024 (USD Million)
TABLE 13 Global car rental market for local usage by region, 2013 - 2024 (USD Million)
TABLE 14 Global car rental market for outstation purposes by region, 2013 - 2024 (USD Million)
TABLE 15 Global car rental market for other activities by region, 2013 - 2024 (USD Million)
TABLE 16 North America car rental market by vehicle type, 2013 - 2024 (USD Million)
TABLE 17 North America car rental market by application, 2013 - 2024 (USD Million)
TABLE 18 U.S. car rental market by vehicle type, 2013 - 2024 (USD Million)
TABLE 19 U.S. car rental market by application, 2013 - 2024 (USD Million)
TABLE 20 U.S. car rental market by application, 2013 - 2024 (USD Million) (granular-level split)
TABLE 21 Europe car rental market by vehicle type, 2013 - 2024 (USD Million)
TABLE 22 Europe car rental market by application, 2013 - 2024 (USD Million)
TABLE 23 France car rental market by vehicle type, 2013 - 2024 (USD Million)
TABLE 24 France car rental market by application, 2013 - 2024 (USD Million)
TABLE 25 Germany car rental market by vehicle type, 2013 - 2024 (USD Million)
TABLE 26 Germany car rental market by application, 2013 - 2024 (USD Million)
TABLE 27 UK car rental market by vehicle type, 2013 - 2024 (USD Million)
TABLE 28 UK car rental market by application, 2013 - 2024 (USD Million)
TABLE 29 Asia Pacific car rental market by vehicle type, 2013 - 2024 (USD Million)
TABLE 30 Asia Pacific car rental market by application, 2013 - 2024 (USD Million)
TABLE 31 Japan car rental market by vehicle type, 2013 - 2024 (USD Million)
TABLE 32 Japan car rental market by application, 2013 - 2024 (USD Million)
TABLE 33 Korea car rental market by vehicle type, 2013 - 2024 (USD Million)
TABLE 34 Korea car rental market by application, 2013 - 2024 (USD Million)
TABLE 35 China car rental market by vehicle type, 2013 - 2024 (USD Million)
TABLE 36 China car rental market by application, 2013 - 2024 (USD Million)
TABLE 37 India car rental market by vehicle type, 2013 - 2024 (USD Million)
TABLE 38 India car rental market by application, 2013 - 2024 (USD Million)
TABLE 39 South America car rental market by vehicle type, 2013 - 2024 (USD Million)
TABLE 40 South America car rental market by application, 2013 - 2024 (USD Million)
TABLE 41 MEA car rental market by vehicle type, 2013 - 2024 (USD Million)
TABLE 42 MEA car rental market by application, 2013 - 2024 (USD Million)
List of Figures
FIG. 1 Market segmentation & scope
FIG. 2 Car rentals market size and growth prospects
FIG. 3 Car rental - Value chain analysis
FIG. 4 Interrelation of value chain and customer lifecycle
FIG. 5 Various connections of car rental market with the external ecosystem
FIG. 6 Car rental - Supply chain analysis
FIG. 7 Market dynamics
FIG. 8 Internet usage in developed and developing countries, 2005 - 2015 (Million)
FIG. 9 Internet usage, by region, 2005-2015 (Million)
FIG. 10 U.S. crude oil first purchase price, 2015 - 2016 (USD Per Barrel)
FIG. 11 Porter’s Five Forces Analysis
FIG. 12 Car rental - Key company analysis, 2015
FIG. 13 Car rental - PESTEL analysis
FIG. 14 Car rental market vehicle type outlook key takeaways
FIG. 15 Car rental market: Vehicle-type movement analysis
FIG. 16 Global luxury car rental market, 2013 - 2024 (USD Million)
FIG. 17 Global executive car rental market, 2013 - 2024 (USD Million)
FIG. 18 Global economy car rental market, 2013 - 2024 (USD Million)
FIG. 19 Global SUV rental market, 2013 - 2024 (USD Million)
FIG. 20 Global MUV rental market, 2013 - 2024 (USD Million)
FIG. 21 Car rental market application outlook key takeaways
FIG. 22 Car rental market: Application movement analysis
FIG. 23 Global car rental market for airport transport, 2013 - 2024 (USD Million)
FIG. 24 Global car rental market for local usage, 2013 - 2024 (USD Million)
FIG. 25 Global car rental market for outstation purposes, 2013 - 2024 (USD Million)
FIG. 26 Global car rental market for other activities, 2013 - 2024 (USD Million)
FIG. 27 Regional marketplace: Key takeaways
FIG. 28 Regional outlook, 2015 & 2024
FIG. 29 North America car rental market by vehicle type, 2013 - 2024 (USD Million)
FIG. 30 North America car rental market by application, 2013 - 2024 (USD Million)
FIG. 31 U.S. car rental market by application, 2013 - 2024 (USD Million)
FIG. 32 U.S. car rental market by application (granular-level split), 2013 - 2024 (USD Million)
FIG. 33 Europe car rental market by vehicle type, 2013 - 2024 (USD Million)
FIG. 34 Europe car rental market by application, 2013 - 2024 (USD Million)
FIG. 35 Asia Pacific car rental market by vehicle type, 2013 - 2024 (USD Million)
FIG. 36 Asia Pacific car rental market by application, 2013 - 2024 (USD Million)
FIG. 37 South America car rental market by vehicle type, 2013 - 2024 (USD Million)
FIG. 38 South America car rental market by application, 2013 - 2024 (USD Million)
FIG. 39 MEA car rental market by vehicle type, 2013 - 2024 (USD Million)
FIG. 40 MEA car rental market by application, 2013 - 2024 (USD Million)

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report