Car Rental Market size was valued at USD 98 billion in 2019 and is poised to grow from USD 102.12 billion in 2023 to USD 141.93 billion by 2031, growing at a CAGR of 4.2% in the forecast period (2024-2031).
The Research report on Car Rental Market presents a complete judgment of the market through strategic insights on future trends, growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing analysis. It also provides and a lot of business matrices including Porters Five Forces Analysis, PESTLE Analysis, Value Chain Analysis, 4 Ps' Analysis, Market Attractiveness Analysis, BPS Analysis, Ecosystem Analysis.
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Segmental Analysis
- ApplicationLeisure/Tourism and Business, Local Usage, Airport Transport and others
- Vehicle type lLuxury/Premium Car and Economy/Budget Cars and others
- End userSelf-driven and Chauffeur-driven
Market Dynamics
Car Rental Market Drivers
Digitizing Payment Process to Open New Revenue Channels in Global Market
- The expansion of car rental market services demands for technological developments.On the global scale, the market is growing dramatically. Therefore, to improve the efficiency, it is necessary to adopt the automatic technology which will help the participants and competitors to provide the better services, increasing bookings. Along with the car rental market, every business around the globe is trying to digitize because it helps to enhance the customer experience that in turn results in growth of the segment.
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By Regions and Countries
o North America
o Europe
o Asia-Pacific
o South America
o Middle East & Africa
Following are the players analyzed in the report
- Avis Budget Group
- Sixt
- Enterprise Holdings
- Europcar Mobility Group
- Hertz Global Holdings
- Alamo Rent A Car
- National Car Rental
- Dollar Rent A Car
- Thrifty Car Rental
- Advantage Rent A Car
- Payless Car Rental
- Budget Rent A Car
- National Car Rental
- Firefly Car Rental
- Rent-A-Wreck
- ACE Rent A Car
- Fox Rent A Car
- E-Z Rent-A-Car
- Silvercar
- Carzonrent India
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The research provides answers to the following key questions:
• What is the estimated growth rate of the market for the forecast period 2024-2031? What will be the market size during the estimated period?
• What are the key driving forces responsible for shaping the fate of the Car Rental Market during the forecast period?
• Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Car Rental Market?
• What are the prominent market trends influencing the development of the Car Rental Market across different regions?
• What are the major threats and challenges likely to act as a barrier in the growth of the Car Rental Market?
• What are the major opportunities the market leaders can rely on to gain success and profitability?