Car Rental Market Trends, Size, Industry Growth, Key Players, Demand and Forecast 2022-27

Transportation and Logistics

According to IMARC Group’s latest report, titled “Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,the global car rental market size reached US$ 76.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 96.5 Billion by 2027, exhibiting at a CAGR of 3.8% during 2022-2027.

A car rental, or hire car, service allows individuals to rent automobiles temporarily for a specific time, generally ranging from a few hours to a few weeks through offline or online channels. Such services are most widely aimed at offering individuals and travelers who do not own personal vehicles. They are often organized with various local branches, which allow any customer to return a vehicle to a separate location, and are generally stationed near airports or busy city areas. Renting a vehicle is more cost effective than owning a vehicle as it provides freedom of movement and low-cost traveling, as well as enables avoiding high ownership costs.

Note: We are updating our reports, if you want the report with the latest primary and secondary data (2023-2028) including industry trends, market size and competitive landscape, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

Request a Free PDF Sample of the Report: https://www.imarcgroup.com/car-rental-market/requestsample

Market Trends and Drivers:

The increasing number of individuals going on leisure and business trips, coupled with the growing travel and tourism industry, is driving the car rental market growth across the globe. Furthermore, technological advancements are encouraging the market growth. For instance, improved corporate and customer information management, as well as hassle-free internet booking applications, are positively influencing the demand for car rental services. Additionally, these service providers offer several other products, including insurance compensation policies, car damage repair, global positioning systems (GPS), Wi-Fi networks, and entertainment systems, which are expected to boost the market growth.

Car Rental Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the car rental market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • 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 Market Segmentation:

The report has segmented the global car rental market based on booking type, rental length, vehicle type, application, end-user and region.

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
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/car-rental-market

Key Highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact US:
IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800

Leave a Reply