Special occasions, change in consumer preferences, and popularity of flexible rental options are expected to drive the growth of the global luxury car rental market.
PORTLAND, Ore., Dec. 12, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Luxury Car Rental Market by Rental Type (Business, and Leisure), Booking Mode Type (Online, and Offline), and End-User (Self-driven, and Chauffeur-driven): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global luxury car rental market size was valued at $30,274.1 million in 2022 and is projected to reach $70,388.8 million by 2032, registering a CAGR of 9.4% from 2023 to 2032.
(We are providing luxury car rental industry report as per your research requirement, including the Latest Industry Insight’s Evolution, Potential and Russia-Ukraine War Impact Analysis)
119 – Tables
55 – Charts
305 – Pages
Download Sample Pages – https://www.alliedmarketresearch.com/request-sample/12625
Prime determinants of growth
The growth of the luxury car rental market is intricately tied to key determinants across its segmented landscape. In the business rental type, the escalating demand is propelled by the corporate sector’s increasing need for transportation solutions, particularly for executive travel and high-profile events. Simultaneously, the leisure rental type thrives on the desire for recreational pursuits, with consumers seeking exclusive experiences and stylish transportation for special occasions. The growth in the online booking mode type is driven by the influence of digital trends, providing tech-savvy consumers with seamless, real-time booking experiences. Meanwhile, the offline booking mode type sustains growth by preserving a classic touch and delivering personalized assistance.
The self-driven end-user segment flourishes as individuals seek the thrill of the driver’s seat, while the chauffeur-driven segment capitalizes on the demand for stress-free, professional chauffeur services, appealing to those who prioritize comfort and convenience. These prime determinants collectively fuel the expansion of the luxury car rental market, creating a dynamic landscape that caters to diverse consumer preferences and lifestyle choices.
Report Coverage and Details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$30.3 billion |
|
Market Size in 2032 |
$70.4 billion |
|
CAGR |
9.4 % |
|
No. of Pages in Report |
305 |
|
Segments covered |
Rental Type, Booking Mode Type, End-User, and Region. |
|
Drivers |
Special Occasions to Drive Sales in the Luxury Car Rental Market Change in Consumer Preferences is Expected to Increase the Sales of Luxury Car Rentals The Popularity of Flexible Rental Options to Increase the Demand for Luxury Car Rentals |
|
Opportunities |
Expanding Tourism Industry to Create Lucrative Opportunities in the Market Corporate Partnerships and Events to Drive the Success of Luxury Car Rental Market |
|
Restraints |
Competition from Various Other Segments to limit the Luxury Car Rental Sales High Operating Costs is a Challenge in Luxury Car Rental Market |
The leisure luxury car rental segment to maintain its leadership status throughout the forecast period
Based on rental type, the leisure luxury car rental segment held the highest market share in 2022, accounting for more than half of the global luxury car rental market revenue, and is estimated to maintain its leadership status throughout the forecast period. Meanwhile, the business segment is projected to hold a suitable CAGR of 7.7% during the forecast period.
The online segment to maintain its leadership status throughout the forecast period
Based on booking mode type, the online segment held the highest market share in 2022, accounting for around three-fifths of the global luxury car rental market and is projected to grow at a CAGR of 11.0% during the forecast period. Meanwhile, the offline segment is projected to hold a suitable CAGR of 6.3% during the forecast period.
The end-user segment to maintain its leadership status throughout the forecast period
Based on end-user, the self-driven segment held the highest market share in 2022, accounting for more than three-fifths of the global luxury car rental market, and is projected to grow at a CAGR of 7.5% during the forecast period. Meanwhile, the chauffeur-driven segment is projected to hold a suitable CAGR of 12.6% during the forecast period.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global luxury car rental market revenue. However, Asia-Pacific is projected to hold a suitable CAGR of 12.2% during the forecast period.
Procure Complete Research Report (PDF with Qualitative and Quotative Data, Insights, Statistics, Tables, Charts, Figures) – https://www.alliedmarketresearch.com/luxury-car-rental-market/purchase-options
Leading Market Players: –
Auto Europe
Avis Prestige
Budget Rent A Car System, Inc.
Enterprise Holdings Inc.
Europcar
Hertz Dream Collection
Paddock Rent a Car
Red Fox Luxury Lifestyle Ltd.
Sixt Luxury Cars
Thrifty Car Rental
The report provides a detailed analysis of these key players in the global luxury car rental market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Similar Reports We Have on Automotive Industry:
Car Rental Market Research Report 2023-2032
Truck Rental and Leasing Market Research Report 2023-2032
Bike Rental Market Research Report 2023-2032
Tourism Vehicle Rental Market Research Report 2023-2032
Boat Rental Market Research Report 2023-2032
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
USA/Canada (Toll Free):
+1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
