Car Rental in the US
The Car Rental industry has prospered over the five years to 2019. Rising per capita disposable income and a low unemployment rate have encouraged consumers to increase their level of spending on both car leases and car rentals for leisure trips. Elevated corporate profit has further boosted industry revenue, as a large share of rentals are for business purposes. Finally, despite constituting a relatively small portion of the industry, car sharing services have experienced growth in demand that has further driven the industry's expansion during the period. IBISWorld expects the industry to continue expanding over the five years to 2024. Industry demand is anticipated to rise alongside an increase in domestic travel, supported by expansion in the US economy. Growth in demand for car rental services is expected to be augmented by rising per capita disposable income and an accelerated expansion in corporate profit. Additionally, anticipated growth in the number of inbound trips to the United States by foreign visitors over the next five years is expected to boost industry demand at airports.
Operators in the Car Rental industry rent or lease passenger cars to customers. Car rentals typically last a short time (30 days or fewer) while leasing agreements last longer (12 months or more). This industry excludes the rental or leasing of cars with drivers or trucks.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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