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Car Rental Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Publisher Global Market Insights
Published Jan 09, 2025
Length 182 Pages
SKU # GMI19636266

Description

Car rental market size is anticipated to witness over 7% CAGR between 2024 and 2032 driven by the surging demand for flexible transportation. As urbanization takes hold and disposable incomes rise, more individuals are turning to car rentals as an alternative to ownership, especially for short-term needs. According to Worldbank.org, urban areas currently house 50% of the global population. This trend is bolstered by the advantages of rental services, which, when compared to long-term ownership, offer savings on maintenance, insurance, and depreciation. Technological innovations, including mobile apps and online booking platforms, are revolutionizing the car rental landscape, making it more accessible and user-friendly. Furthermore, the adoption of smart technologies, such as GPS and telematics, not only streamlines vehicle management but also elevates customer satisfaction, driving up market growth. The industry is divided into booking channel, rental length, vehicle, application, end user, and region. Based on booking channel, the car rental market size from the online segment is slated to witness significant growth during 2024-2032. This surge is attributed to the unmatched convenience and accessibility these channels offer. With online platforms and mobile applications, customers can effortlessly search, compare, and book rental vehicles anytime, anywhere. This digital approach alleviates traditional hurdles like tedious paperwork and in-person dealings. Car rental market value from the leisure/ tourism application segment will foresee considerable growth up to 2032. Travelers are increasingly leaning towards flexible and tailored transportation to enrich their journeys. Renting vehicles empowers tourists to navigate destinations at their rhythm, reach off-the-beaten-path locales, and optimize their schedules. This growing demand spans diverse preferences and group sizes. Asia Pacific car rental industry size is anticipated to witness substantial growth through 2032 attributed to rising disposable incomes, along with increased travel and tourism activities in the region. As cities expand and the population grows, there is a higher demand for flexible transportation solutions that car rentals provide. The increasing middle-class population with higher spending power also contributes to a greater need for temporary vehicle access in APAC.

Table of Contents

182 Pages
Chapter 1 Research Methodology
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates and calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
Chapter 2 Executive Summary
2.1 Industry 360 degree synopsis, 2021-2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2024 - 2032
2.2.1.1 TAM trends
2.3 Regional trends
2.4 Booking Channel trends
2.5 Rental Length trends
2.6 Vehicle trends
2.7 Application trends
2.8 End use trends
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Car OEMs
3.1.2 Component suppliers
3.1.3 Technology providers
3.1.4 Service providers
3.1.5 Distribution channel
3.1.6 End users
3.2 Supplier landscape
3.3 Technology and innovation landscape
3.3.1.1 Internet of Things (IoT)
3.3.1.2 Artificial Intelligence (AI) & Machine Learning (ML)
3.3.1.3 Cloud computing
3.3.1.4 Blockchain technology
3.3.1.5 Autonomous Vehicles (Self-Driving Cars)
3.4 Patent analysis
3.5 Key news and initiatives
3.6 Regulatory landscape
3.6.1 North America
3.6.2 Europe
3.6.3 Asia Pacific
3.6.4 Latin America
3.6.5 MEA
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.1.1 Growing travel & tourism industry
3.7.1.2 Shift towards on-demand mobility services
3.7.1.3 Increasing demand for rental services at airports
3.7.1.4 Rising middle class population and urbanization in Asia Pacific
3.7.2 Industry pitfalls and challenges
3.7.2.1 Price fluctuations and competition from ride-sharing services
3.7.2.2 High operational cost
3.8 Growth potential analysis
3.9 Porter's analysis
3.10 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Car Rental Market, By Booking Channel
5.1 Key trends
5.2 Online
5.3 Offline
Chapter 6 Car Rental Market, By Rental Length
6.1 Key trends
6.2 Short term
6.3 Long term
Chapter 7 Car Rental Market, By Vehicle
7.1 Key trends
7.2 Luxury cars
7.3 Executive cars
7.4 Economy cars
7.5 SUVs
7.6 MUVs
Chapter 8 Car Rental Market, By Application
8.1 Key trends
8.2 Leisure/Tourism
8.3 Business
Chapter 9 Car Rental Market, by End User
9.1 Key trends
9.2 Self-driven
9.3 Chauffeur-driven
Chapter 10 Car Rental Market, By Region
10.1 Key trends
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.4.1 South Korea
10.5 Latin America
10.6 MEA
Chapter 11 Company Profiles
11.1 ACE Rent-a-Car Reservations, Inc.
11.1.1 Global Overview
11.1.2 Market/Business Overview
11.1.3 Financial Data
11.1.3.1 Sales Revenue, 2022-2024
11.1.4 Product Landscape
11.1.5 SWOT Analysis
11.2 Advantage Rent-a-Car
11.2.1 Global Overview
11.2.2 Market/Business Overview
11.2.3 Financial Data
11.2.4 Product Landscape
11.2.5 Strategic Outlook
11.2.6 SWOT Analysis
11.3 Alamo Rent-a-Car LLC
11.3.1 Global Overview
11.3.2 Market/Business Overview
11.3.3 Financial Data
11.3.4 Product Landscape
11.3.5 SWOT Analysis
11.4 ANI Technologies Pvt. Ltd.
11.4.1 Global Overview
11.4.2 Market/Business Overview
11.4.3 Financial Data
11.4.4 Product Landscape
11.4.5 SWOT Analysis
11.5 Avis Budget Group
11.5.1 Global Overview
11.5.2 Market/Business Overview
11.5.3 Financial Data
11.5.3.1 Sales Revenue, 2022-2024
11.5.4 Product Landscape
11.5.5 SWOT Analysis
11.6 Budget Rent a Car System Inc.
11.6.1 Global Overview
11.6.2 Market/Business Overview
11.6.3 Financial Data
11.6.3.1 Sales Revenue, 2022-2024
11.6.4 Product Landscape
11.6.5 SWOT Analysis
11.7 Carzonrent India Pvt. Ltd.
11.7.1 Global Overview
11.7.2 Market/Business Overview
11.7.3 Financial Data
11.7.4 Product Landscape
11.7.5 SWOT Analysis
11.8 Dollar Rent a Car Inc.
11.8.1 Global Overview
11.8.2 Market/Business Overview
11.8.3 Financial Data
11.8.3.1 Sales Revenue, 2022-2024
11.8.4 Product Landscape
11.8.6 Strategic Outlook
11.8.7 SWOT Analysis
11.9 Enterprise Holdings Inc.
11.9.1 Global Overview
11.9.2 Market/Business Overview
11.9.3 Financial Data
11.9.4 Product Landscape
11.9.5 Strategic Outlook
11.9.6 SWOT Analysis
11.10 Europcar
11.10.1 Global Overview
11.10.2 Market/Business Overview
11.10.3 Financial Data
11.10.3.1 Sales and Revenue 2021-2024
11.10.4 Product Landscape
11.10.5 Strategic Outlook
11.10.6 SWOT Analysis
11.11 Fox Rent a Car, Inc.
11.11.1 Global Overview
11.11.2 Market/Business Overview
11.11.3 Financial Data
11.11.3.1 Sales and Revenue 2021-2024
11.11.4 Product Landscape
11.11.5 SWOT Analysis
11.12 Hertz Global Holdings, Inc
11.12.1 Global Overview
11.12.2 Market/Business Overview
11.12.3 Financial Data
11.12.3.1 Sales Revenue, 2021-2023
11.12.4 Product Landscape
11.12.5 Strategic Outlook
11.12.6 SWOT Analysis
11.13 Localiza
11.13.1 Global Overview
11.13.2 Market/Business Overview
11.13.3 Financial data
11.13.3.1 Sales Revenue, 2020-2023
11.13.4 Product Landscape
11.13.5 SWOT analysis
11.14 National Car Rental
11.14.1 Global Overview
11.14.2 Market/Business Overview
11.14.3 Financial data
11.14.4 Product Landscape
11.14.5 SWOT analysis
11.15 SIXT SE
11.15.1 Global Overview
11.15.2 Market/Business Overview
11.15.3 Financial data
11.15.3.1 Sales Revenue, 2020-2023
11.15.4 Product Landscape
11.15.5 SWOT analysis
11.16 Thrifty Car Rental, Inc.
11.16.1 Global Overview
11.16.2 Market/Business Overview
11.16.3 Financial data
11.16.3.1 Sales Revenue, 2021-2023
11.16.4 Product Landscape
11.16.5 SWOT analysis
11.17 Toyota Rent-a-Car
11.17.1 Global Overview
11.17.2 Market/Business Overview
11.17.3 Financial Data
11.17.3.1 Sales Revenue, 2021-2024
11.17.4 Product Landscape
11.17.5 SWOT analysis
11.18 Uber Technologies Inc.
11.18.1 Global Overview
11.18.2 Market/Business Overview
11.18.3 Financial data
11.18.3.1 Sales Revenue, 2021-2023
11.18.4 Product Landscape
11.18.5 Strategic Outlook
11.18.6 SWOT analysis
11.19 Zipcar
11.19.1 Global Overview
11.19.2 Market/Business Overview
11.19.3 Financial data
11.19.3.1 Sales Revenue, 2022-2024
11.19.4 Product Landscape
11.19.5 Strategic Outlook
11.19.6 SWOT analysis
11.20 Zoomcar
11.20.1 Global Overview
11.20.2 Market/Business Overview
11.20.3 Financial Data
11.20.3.1 Sales Revenue, 2021-2023
11.20.4 Product Landscape
11.20.5 SWOT Analysis

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