DUBLIN, March 15, 2023 /PRNewswire/ — The “Car Rental Business: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Car Rental Business estimated at US$66.6 Billion in the year 2022, is projected to reach a revised size of US$102.8 Billion by 2030, growing at a CAGR of 5.6% over the analysis period 2022-2030.
Airport, one of the segments analyzed in the report, is projected to record 4.6% CAGR and reach US$39.3 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Non-Airport segment is readjusted to a revised 6.2% CAGR for the next 8-year period.
The U.S. Market is Estimated at $25.3 Billion, While China is Forecast to Grow at 10.3% CAGR
The Car Rental Business market in the U.S. is estimated at US$25.3 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$15.8 Billion by the year 2030 trailing a CAGR of 10.3% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 4.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR.
Select Competitors (Total 131 Featured) –
- Avis Budget Group, Inc.
- Enterprise Holdings, Inc.
- Europcar Mobility Group
- Rent-A-Wreck of America, Inc.
- Sixt AG
- The Hertz Corporation
What`s New for 2023?
- Special coverage on Russia–Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- As Covid-19 Pandemic Decimates the Demand, Car Rental Business Market Set to Incur Huge Losses in 2020
- Monthly Change in International Tourist Arrivals for January, February, & March 2020
- Global Travel &Tourism Industry Revenues (In US$ Billion) for the Years 2019 & 2020
- Global Flight Departures in First Week of April 2020 & 2019
- Battered Global Travel & Tourism Industry Steals All Hope From Car Rental Businesses
- An Introduction to Car Rental Business
- Evolution of Rent-A-Car Concept Over the Years
- Fleet Ownership Patterns: A Review
- Classification of Car Rental Business by Location & Sector
- Car Rental Business by Location
- Car Rental Business by Sector
- Car Rental Business: Current Market Scenario and Outlook
- Developed Regions: Primary Revenue Contributors
- World Car Rental Business Market by Region (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
- High Growth Opportunities in Developing Regions
- World Car Rental Business Market – Geographic Regions Ranked by % CAGR (Revenues) for 2020-2027: China, Asia-Pacific, Middle East, Latin America, Africa, Canada, USA, Japan, and Europe
- COVID-19 Pandemic Set to Dent Economic Growth Across All Regions, While Inducing Weakness Into Car Rental Business Sector
- World Economic Growth Projections (Real GDP, annual % Change) for 2019, 2020 & 2021
- COMPETITIVE SCENARIO
- Car Rental Market: A Diverse Playfield
- Leading Car Rental Firms across Regional Markets
- Emphasis on Innovative Strategies
- Personalized Offers and Specialized Services
- Subscription Packages: The New Marketing Approach
- Price Matching Systems for Assuring Customers
- End-to-End Customer Support Remains Major Focus Area
- Mergers & Acquisitions (M&A) Gather Steam
- Recent Market Activity
- Car Rental Companies Lean Towards Shared Mobility Service
- Car Rental Business – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Technology Innovations to Spearhead Growth in Post Covid Environment
- Automation Steps-In to Augment Car Rental Business Performance
- IoT Holds Positive Ramifications for Car Rental Automation
- AI Identified as the New Transformative Vehicle
- Convenient Bookings and Innovative Payment Options
- Online Booking Takes Car Rentals to Higher Grounds
- Smartphones & Mobile Apps Widen Scope & Span of Car Rental Business
- Smartphone Penetration (as a Proportion of Total Mobile Users) by Region for the Years 2018 and 2025
- Increasing Implementation of GPS & Telematics
- Cloud-Based Car Rental Software: The Latest ‘Tech’ Innovation
- Medical Tourism, Overseas Education, and Large Sporting Events: Among Prominent Demand Drivers
- Breakdown of International Student Enrolments (in %) by Country for the Year 2018
- Key Medical Tourism Destinations by Region
- Select Most Attended Sporting Events in the World
- Young Travelers to Provide Traction to Car Rental Business
- Apprehensions Remain High on Revival of Luxury Car Rental Market
- Issues & Challenges
- Rise of Car Sharing Throws Up Biggest Challenge to Traditional Rent-A-Car Market
- Peer-to-Peer Ridehailing Drives Momentum in Car Sharing Volumes
- Car Sharing Attracts New Groups of Enterprises
- Car Manufacturers
- Power Companies
- Micromobility: Another Fast Emerging ‘Muscular’ Competitor
- Apprehensions Over Hidden and Additional Costs Among Cost Wary and Cost Conscious Consumers
- A Note on Additional Charges Levied In Addition to Base Rental Charges
- Growing Role of Video Conferencing and Digital Technologies in Business Communication
4. GLOBAL MARKET PERSPECTIVE
- es for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
- Table 19: World Car Rental Business Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/sl8lkg
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SOURCE Research and Markets
