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Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Publisher IMARC Services Pvt. Ltd.
Published Feb 21, 2023
Length 145 Pages
SKU # IMRC17808372

Description

Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global car rental market size reached US$ 79.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 95.7 Billion by 2028, exhibiting a growth rate (CAGR) of 3.1% during 2023-2028.

Car rental refers to the facility of renting automobiles temporarily for a predefined period through online or offline channels. Car rental services are primarily aimed at serving travelers and individuals who do not own private vehicles. Renting automobiles is considered to be a more cost-effective alternative to owning a vehicle as it offers freedom of movement, low-cost traveling and enables the evasion of high ownership costs. The service providers also offer various other products, such as car damage repair, insurance compensation policies, entertainment systems, global positioning systems (GPS) and Wi-Fi networks, for providing enhanced convenience to users.

Car Rental Market Trends:
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.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global car rental market report, along with forecasts at the global, regional and country level from 2023-2028. Our 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

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

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

1. What was the size of the global car rental market in 2022?
2. What is the expected growth rate of the global car rental market during 2023-2028?
3. What are the key factors driving the global car rental market?
4. What has been the impact of COVID-19 on the global car rental market?
5. What is the breakup of the global car rental market based on the booking type?
6. What is the breakup of the global car rental market based on the rental length?
7. What is the breakup of the global car rental market based on the vehicle type?
8. What is the breakup of the global car rental market based on the application?
9. What is the breakup of the global car rental market based on the end user?
10. What are the key regions in the global car rental market?
11. Who are the key players/companies in the global car rental market?

Table of Contents

145 Pages
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Car Rental Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Booking Type
6.1 Offline Booking
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Online Booking
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Rental Length
7.1 Short Term
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Long Term
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Vehicle Type
8.1 Luxury
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Executive
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Economy
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 SUVs
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by Application
9.1 Leisure/Tourism
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Business
9.2.1 Market Trends
9.2.2 Market Forecast
10 Market Breakup by End-User
10.1 Self-Driven
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Chauffeur-Driven
10.2.1 Market Trends
10.2.2 Market Forecast
11 Market Breakup by Region
11.1 North America
11.1.1 United States
11.1.1.1 Market Trends
11.1.1.2 Market Forecast
11.1.2 Canada
11.1.2.1 Market Trends
11.1.2.2 Market Forecast
11.2 Asia Pacific
11.2.1 China
11.2.1.1 Market Trends
11.2.1.2 Market Forecast
11.2.2 Japan
11.2.2.1 Market Trends
11.2.2.2 Market Forecast
11.2.3 India
11.2.3.1 Market Trends
11.2.3.2 Market Forecast
11.2.4 South Korea
11.2.4.1 Market Trends
11.2.4.2 Market Forecast
11.2.5 Australia
11.2.5.1 Market Trends
11.2.5.2 Market Forecast
11.2.6 Indonesia
11.2.6.1 Market Trends
11.2.6.2 Market Forecast
11.2.7 Others
11.2.7.1 Market Trends
11.2.7.2 Market Forecast
11.3 Europe
11.3.1 Germany
11.3.1.1 Market Trends
11.3.1.2 Market Forecast
11.3.2 France
11.3.2.1 Market Trends
11.3.2.2 Market Forecast
11.3.3 United Kingdom
11.3.3.1 Market Trends
11.3.3.2 Market Forecast
11.3.4 Italy
11.3.4.1 Market Trends
11.3.4.2 Market Forecast
11.3.5 Spain
11.3.5.1 Market Trends
11.3.5.2 Market Forecast
11.3.6 Russia
11.3.6.1 Market Trends
11.3.6.2 Market Forecast
11.3.7 Others
11.3.7.1 Market Trends
11.3.7.2 Market Forecast
11.4 Latin America
11.4.1 Brazil
11.4.1.1 Market Trends
11.4.1.2 Market Forecast
11.4.2 Mexico
11.4.2.1 Market Trends
11.4.2.2 Market Forecast
11.4.3 Others
11.4.3.1 Market Trends
11.4.3.2 Market Forecast
11.5 Middle East and Africa
11.5.1 Market Trends
11.5.2 Market Breakup by Country
11.5.3 Market Forecast
12 SWOT Analysis
12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats
13 Value Chain Analysis
14 Porters Five Forces Analysis
14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes
15 Price Indicators
16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
16.3.1 Avis Budget Group, Inc.
16.3.1.1 Company Overview
16.3.1.2 Product Portfolio
16.3.1.3 Financials
16.3.1.4 SWOT Analysis
16.3.2 Carzonrent India Private Limited
16.3.2.1 Company Overview
16.3.2.2 Product Portfolio
16.3.3 Eco rent a car
16.3.3.1 Company Overview
16.3.3.2 Product Portfolio
16.3.4 Enterprise Holdings, Inc.
16.3.4.1 Company Overview
16.3.4.2 Product Portfolio
16.3.4.3 SWOT Analysis
16.3.5 Enterprise Rent-A-Car
16.3.5.1 Company Overview
16.3.5.2 Product Portfolio
16.3.5.3 Financials
16.3.6 Europcar
16.3.6.1 Company Overview
16.3.6.2 Product Portfolio
16.3.6.3 Financials
16.3.7 Localiza
16.3.7.1 Company Overview
16.3.7.2 Product Portfolio
16.3.7.3 Financials
16.3.8 Sixt SE
16.3.8.1 Company Overview
16.3.8.2 Product Portfolio
16.3.8.3 Financials
16.3.9 The Hertz Corporation
16.3.9.1 Company Overview
16.3.9.2 Product Portfolio

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