Europe Car Rental Service Market to 2027 - Regional Analysis and Forecasts by Rental Location (Non Airport, and On Airport & Train Station); Car Category (Mini & Economy, Compact & Intermediate, Standard, Full Size, Premium, Luxury, and Special); Customer Type (B2B and B2C)
The Europe car rental service market accounted for US$ 14.17 Bn in 2018 and is expected to grow at a CAGR of 6.2% over the forecast period 2019-2027, to account for US$ 24.00 Bn in 2027.
During the forecast period of 2019 to 2027, the positive growth outlook towards the continuous increasing in air-passenger traffic propelling demand for on-airport car rental services is expected to drive the Europe car rental service worldwide. However, the challenges related to introduction of car sharing or ride hailing service may restrain the future growth of the Europe car rental service market. Despite these limitations, the growing adoption of low-cost car rental services is projected to offer ample growth opportunities for the players operating in the Europe car rental service market during the forecast period. Some of the leading players in Europe car rental service market are highly focusing on strategic market initiatives to enrich their production capabilities as well as to expand their geographical presence across the globe. Also, the players are focusing on receiving numerous strategies to focus strongly on the Europe car rental service market. This, in turn, is contributing to the growth of the Europe car rental service market.
The Europe car rental service market has been segmented on the basis of rental location, car category, customer type, and geography. Based on rental location, the market has been segmented into non airport, and on airport & train station. The non airport segment represented the largest share of the overall market throughout the forecast period and is expected to be the fastest-growing. Based on customer type, the Europe car rental service market has been segmented into B2B and B2C. In 2018, B2B segment contributed a substantial share in the Europe car rental service market.
The Europe car rental service market is further segmented on the basis of different countries such as UK, Germany, France, Italy, Spain, Russia, Poland, Austria, Switzerland, Sweden, Norway, Belgium, Netherlands, and Rest of Europe. France contributed more than 19% to the overall revenue of the Europe car rental service market in the year 2018. The Germany and UK held the second and third position in the Europe car rental service market in 2018 with market shares of more than 10% and 13%, respectively. The market in the Netherlands is anticipated to grow at the highest growth rate from 2019 to 2027. Other countries such as the Poland and Sweden are also anticipated to offer ample growth opportunities to the Europe car rental service market players during 2019-2027.
The overall Europe car rental service market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the vendor management software market. It also provides the overview and forecast for the Europe car rental service market based on all the segmentation provided with respect to fourteen major countries such as UK, Germany, France, Italy, Spain, Russia, Poland, Austria, Switzerland, Sweden, Norway, Belgium, Netherlands, and Rest of Europe. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the Europe car rental service market. Some of the players present in Europe car rental service market are Avis Budget Group, Inc., AB Car Rental Bonaire, ALD Automotive, Arval BNP Paribas Group, DriveNow, Europcar Mobility Group S.A., Green Motion International, National Car Rental (Enterprise Holdings), Sixt SE , and The Hertz Corporation among others.
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