The Global Car Rental Industry 2016-2021: Trends, Forecast, and Opportunity Analysis, February 2016
According to a new market report published by looks good with opportunities in the on-airport and off-airport market segment. The global carrental industry is forecast to grow at a CAGR of 5.6% from 2016 to 2021. The major drivers ofgrowth for this market are rising global tourism industry, increasing globalization of corporateoperations, and increasing income levels across the globe.
In this industry, car rental location (On-Airport and Off Airport), customer type, vehicle type, andmode of booking (Online and offline) are some of the major segments of car rental market. On thebasis of its comprehensive research, Lucintel forecasts that the location and mode of bookingsegments are expected to show above average growth during the forecast period.
Within the global car rental industry, On-Airport and Off-Airport segment is expected to remain asthe largest segment. Increase in air travel and domestic tourism is expected to increase thecustomers in airport locations, which would spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest market due to rapid urbanization and increasedexpenditure on traveling by domestic tourists. North America and Rest of the World are expectedto witness significant growth over the forecast period because of improving economy, increasingdomestic as well international tourists, and high quality road infrastructure.
For market expansion, the report suggests development of new and value added service toenhance the performance of car rental services. The report further suggests the development ofpartnerships with customers to create win-win situations and development of low-cost solutionsfor customers.
Emerging trends, which have a direct impact on the dynamics of the industry, include enhanceduser experience through digitization, introduction of green vehicles in car fleet, enhancedtechnologies in car rental service, and concept of self-drive instead of hiring driver. Enterprise
Rent-A-Car, Hertz Global Holdings, Inc., Avis Budget Group Inc., Europcar Groupe S.A., and Sixt
AG are the major car rental service providers in the global car rental industry. Some companiesare opting for merger & acquisition as strategic initiatives for driving growth.car rental industry by location, customer, vehicle type, mode of booking, and region and hascome up with a comprehensive research report, “The Global Car Rental Industry 2016-2021:
Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard forgrowth strategy, as it provides a comprehensive data and analysis on trends, key drivers, anddirections. The study includes the forecast for the global car rental industry through 2021,segmented by location, customer, vehicle type, mode of booking, and region as follows:
By location ($ billion from 2010 to 2021):
By customer ($ billion from 2010 to 2021):
By vehicle type ($ billion from 2010 to 2021):
By mode of booking ($ billion from 2010 to 2021):
By region ($ billion from 2010 to 2021)
Rest of the World
This unique report from Lucintel will provide you with valuable information, insights, and toolsneeded to identify new growth opportunities and operate your business successfully in thismarket. This report will save hundreds of hours of your own personal research time and willsignificantly benefit you in expanding your business in this market. In today’s stringent economy,you need every advantage that you can find.
Features of This Report:
To make business, investment, and strategic decisions, you need timely, useful information. Thismarket report fulfills this core need and is an indispensable reference guide for multinationalmaterials suppliers, product manufacturers, investors, executives, distributors, and many morethat operate in this market.
Some of the features of “The Global Car Rental Industry 2016-2021: Trends, Forecast, and
Opportunity Analysis” include:
Market size estimates: Global car rental industry size estimation in terms of value ($
Trend and forecast analysis: Global car rental industry size trend (2010-2015) andforecast (2016-2021) by region and segments.
Segmentation analysis: Global car rental industry size by various vehicle types such asexecutive cars, luxury cars, economy cars, SUVs and MUVs in terms of value .
Regional analysis: Global car rental industry size breakdown by key regions such as
North America, Europe, Asia Pacific, and Rest of World.
Growth opportunities: Analysis on growth opportunities in different segments and regions.
Strategic analysis: This includes M&A, new service development, competitive landscape,and expansion strategies of global car rental industry players.
Emerging Trends: Emerging applications of global car rental industry in various markets.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model."
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