Car Rental Market to Discern Magnified Growth During 2015-2025

Press Release

This Market Insights report examines the ‘Global Car Rental” market for the period 2014-2025. The primary objective of the report is to offer updates on the advancements in the car rental market, examining the marketing efforts and to identify the market opportunities in the global car rental market.     

Awareness about car rental services is rising at a considerable pace in the developed economies across the globe, which in turn is driving demand for car rental services in the concerned markets.

The report depicts the marketing strategies undertaken by the service providers, which are significantly driving the car rental market. This study analyses, estimates and forecasts the global car rental market from the supply perspective, in terms of revenue (US$ Bn) during the forecast period from 2015 to 2025. The report also highlights the impact of various drivers and restraints in the concerned regions, during the forecast period.

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Car rental services include wide-ranging services related to renting vehicles/automobiles for specific time periods, ranging from a few hours to a few months, for an appropriate fee. These services are often offered via websites and through online reservations. Car rental services are generally availed by people who need a vehicle temporarily; usually, they are either travellers or car owners who need to briefly relinquish their own cars for service, repair or insurance compensation requests.

To understand and assess the opportunities in this market, the report is categorically divided under various sections such as market analysis, by region (North America, Western Europe, Eastern Europe Asia Pacific Excluding Japan, Latin America, Japan and the Middle East & Africa), by end use, by customer type, by booking type, by sector, by car type, and competitive landscape (inclusive of competition dashboard, opportunity matrix and company profiles). The report analyses the global car rental market in terms of market value (US$ Bn).

The report starts with an overview of the car rental market across the globe. In the other sections, FMI covers the key trends, drivers and inhibitors from supply and demand perspective. It also covers the market opportunities in the car rental market. Impact analysis of the key growth drivers and inhibitors, based on the weighted average model, is included in the report to better equip and arm clients with crystal clear decision making insights.

The next section of the report analyses the market based on end use segments and presents the forecast in terms of value for the next 10 years. 

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Regions covered in the report include: North America Western Europe Eastern Europe APEJ Japan Latin America MEA

To calculate the market size, the report considers various aspects based on secondary research. Furthermore, data points such as regional split and market split, by segment, and qualitative inputs from primary respondents have also been incorporated to arrive at appropriate market estimates.

The forecast presented here assesses the total revenue generated in the car rental market. While forecasting the market, sizing the current market is considered to be the starting point, which forms the basis for the forecast, as to how the market is anticipated to take shape in the near future. Given the characteristics of the market, we triangulated the data via different analyses, based on supply side, demand side, and dynamics of the related markets. However, quantifying the market on the basis of the above-mentioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed.

It is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the market and to identify the right opportunities in the car rental market.

Another key feature of this report is the analysis of the car rental market, by region, and its revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global car rental market.

Furthermore, to understand the key growth segments in terms of growth & performance of car rental market, Market Insights developed the market attractiveness index. The resulting index should help providers identify real market opportunities.        

Few of the market players featured in the section include: Enterprise Holdings Inc. The Hertz Corporation Avis Budget Group, Inc. Europcar Group S.A. Carzonrent India Pvt Ltd. Sixt SE Al Futtaim Group Localiza- Rent a Car SA Eco Rent a Car GlobalCARS

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