Car Rental Market Trends, Share & Future Scope With Industry Regional Growth and Competitive Outlook – IMARC Group

According to IMARC Group’s recent report, titled “Car Rental Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2021-2026”, the global car rental market reached a value of US$ 93.70 Billion in 2020. Looking forward, IMARC Group expects the global market to continue its strong growth during the next five years (2021-2026).

Car rental is the facility of renting vehicles temporarily for a predefined period through online or offline channels. Car rental services are primarily focused on serving travelers and individuals who do not own private automobiles. Car rental is a cost-effective alternative to owning a vehicle as it offers low-cost traveling, freedom of movement, and reduced fuel consumption on individual vehicles. Several car rental service providers also offer various other services, such as car damage repair, insurance compensation policies, entertainment systems, GPS and Wi-Fi networks, for an enhanced consumer experience.

The rising urban population, coupled with significant expansion of the travel and tourism industry across the globe, are primarily driving the global car rental market growth. Furthermore, the rising adoption of car rental services in the form of taxis and carpooling for increased mobility and cost-effective traveling is also propelling the global market. Additionally, due to the rising air pollution, the governments of several countries are focusing on minimizing vehicular emissions and promoting car rental services as one of the most economical and sustainable modes of transportation. Other factors, such as the introduction of car rental services through websites and smartphone-based applications, rising consumer disposable income levels, the growing number of car rental service providers, etc., are further expected to drive the car rental market growth in the coming years.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Get a PDF sample for more detailed market insights: https://www.imarcgroup.com/car-rental-market/requestsample

Car Rental Market 2021-2026 Segmentation and Competitive Analysis:

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

Breakup by Region:

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

Breakup by Booking:                                                       

  • 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

Competitive Landscape:

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:                            

  • Localiza
  • Avis Budget Group Inc.
  • Eco rent a car
  • Europcar
  • Sixt SE
  • Carzonrent India Private Limited
  • Enterprise Rent-A-Car
  • The Hertz Corporation
  • Enterprise Holdings Inc.

Explore full report with table of contentshttps://www.imarcgroup.com/car-rental-market

Key highlights of the report:

  • Market Performance (2015-2020)
  • Market Outlook (2021-2026)
  • Historical, Current and Future Trends
  • Market Drivers and Success Factors
  • Structure of the Global Market
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape
  • The Impact of COVID-19 on the Global Market

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.

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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.

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Smith Ivo

Five years in chemical & material has made Ivo Smith more or less an expert in everything related to medicines, drugs, chemicals and related sectors – at least from the PR front. Through his insider access to the sector, he has gained valuable insight into the entire manufacturing process of chemical and material.
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