Car Rental Market By Vehicle Type (Economic Vehicle, Executive Vehicle, Small Utility Vehicle, Medium Utility Vehicle, and Luxury Cars), By Rental Category (Airport Transport, Local Transport, Outstation Transport) Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023

This report analyzes the global car rental market in terms of vehicle type, rental category, and geography. On the basis of vehicle type, the global car rental market is segmented into economic vehicles, executive vehicles, SUVs, MUVs, and luxury cars. Similarly, on the basis of rental category, the global car rental is further classified into airport transport, local transport, and outstation transport. The geographical distribution of the global car rental market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Overview:

The perpetual rise in the number of air travelers for leisure as well as business trips is driving the car rental market worldwide. The advancements in technologies leading to the integration of telematics and navigation solutions in cars has been instrumental in ensuring transparency and winning confidence of people over car rental services. The introduction of car rental apps has further augmented the reach of car rental services. The availability of wide range of vehicles with different cost plans has allowed consumers the flexibility of choosing vehicles as per their need, thereby supporting the market growth. These factors are expected to contribute towards a double digit compounded annual growth rate (CAGR) during the forecast period 2016 – 2023.
 

1.1    Report Description

Purpose of the Report

The purpose of this strategic research study titled “Car Rental Market - Growth, Share, Opportunities, and Competitive Analysis, 2016 – 2023” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global car rental industry.

1.1.1   Target Audience

• Industry Investors
• Car Rental Service Providers
• App Developers
• End-users
•  

1.1.2   USP and Key Offerings

The report titled “Global Car Rental Market - Growth, Share, Opportunities, and Competitive Analysis, 2016 – 2023” offers strategic insights into the global car rental market along with the market size and estimates for the duration 2014 to 2023. The said research study covers in-depth analysis of multiple market segments based on vehicle type, rental category, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the key industry participants, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and recent developments. Other in-depth analysis provided in the report includes:

• An overview of the global car rental market
• Current and future market trends to justify the forthcoming attractive sub-markets within the digital car rental market
• Qualitative assessment tools such as market drivers, challenges and future prospects, value chain, and attractive investment proposition.
• Focus on each level of market segmentation based on product approvals, launch, and current and anticipated market dynamics.
• A general overview of the industry structure
• Company profiles highlighting key information about the major players operating in the global car rental market
• Market competition scrutiny tools such as market share analysis, fractal map, etc.
• SRC (Segment-Region-Country) Analysis
•  

Overall, the research study provides a holistic view of the global car rental market, offering market size and estimates for the period from 2014 to 2023, keeping in mind the above mentioned factors

On the basis of geography, the global car rental market is segmented into following regions and countries.

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • France
  • Germany
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Rest of Asia Pacific
• Rest of the World
  • Latin America
  • Middle East and Africa

North America comprising Canada and the United States is currently the largest regional car rental market followed by Europe and Asia Pacific. As of 2015, the region accounted for over 38 percent of the global market revenue. The trend shall prolong and the region is presumed to remain the largest car rental market throughout the forecast period 2016 – 2023. The growth in the region is driven by easy availability of insurance and rise in the number of air travelers for leisure as well as corporate trips. On the other hand, 

Asia Pacific is expected to witness maximum growth, outpacing North America and Europe during the same period. Japan remains one of the most prominent car rental markets in the region. Surge in inbound arrivals has supported the car rental market in the country. The leading car rental companies in the country like Toyota are focusing on tapping foreign travelers by offering features like WiFi, multi-language booking platforms and in-car navigation among others.