Car rental Market Share, Demand Analysis, Growth, Trends and Forecast – 2028

 

The global car rental market is anticipated to grow at a considerable CAGR of 4.5% during the forecast period (2022-2028). Technology is an important component that is expected to drive the market growth during the forecast period. The rising adoption of IT in automobiles is transforming the industry and enabling operators to deliver improved services to the customers. This includes the use of corporate and customer information management along with the development of a simple online booking application. The growing reliance of users on smartphones to perform the various traditional tasks performed by personal computers has greatly positively influenced the feeling of renting a car to customers. This has also enhanced the availability of demand-based movement solutions. Industry players such as Sixt SE, Uber, and Avis have launched mobile apps where customers can easily select cars from portfolios.

The car rental service is usually organized with many local branches, usually located near airports or busy areas of the city, and supported by a website to allow online bookings. With the increase in pollution levels, the car rental industry has undergone a major transformation over the past few years, becoming one of the leading shipping industries. Manufacturers and buyers rely on a variety of inexpensive car rental programs, such as renting car owners for up to three years and then renting these cars with app-based bookings. Car rental is very effective in curbing pollution by reducing the sales of high-volume vehicles. 

Scope of the Car rental Report

The research study analyzes the Car rental industry from a 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments

o Market Overview and growth analysis

o Import and Export Overview

o Volume Analysis

o Current Market Trends and Future Outlook

o Market Opportunistic and Attractive Investment Segment

Car rental Market Segmentation:

By Boking Type 

• Offline Access
• Online Access

By Application

• Leisure/ Tourism
• Business

By Vehicle Type

• Luxury/ Premium Car
• Economy Car

By End-Users

• Self-Driven 
• Chauffeur-Driven

Competitive Landscape-Avis Budget Group Inc., Enterprise Holdings Inc., Europcar Group., Hertz Corp., and Sixt, among others.

Geographic Coverage

o North America Market Size and/or Volume

o Latin America Market Size and/or Volume

o Europe Market Size and/or Volume

o Asia-Pacific Market Size and/or Volume

o Rest of the world Market Size and/or Volume

Key questions answered in this report:

• What is the size of the Car rental market and what is its expected growth rate?
• What are the primary driving factors that push the Car rental Market forward?
• What are the Car rental Industry’s top companies?
• What are the different categories that the Car rental Market caters to?
• What will be the fastest-growing segment or region?
• In the value chain, what role do essential players play?
• What is the procedure for getting a free copy of the Car rental Market sample report and company profiles?