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Published Date: 2014-06-05Number of Pages: 85

Car Rental Market - Global and U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019

Global car rental market was valued at USD 36.89 billion in 2013, growing at a CAGR of 13.6% from 2014 to 2019. A car rental company rents out vehicles/automobiles for a specific period of time ranging from a few hours to a few months for an appropriate fee. The service is often organized across various local branches, facilitating customers to return the vehicle in a location of their convenience. In addition, car rental services are often complemented by websites, allowing online reservations and car rental offices are primarily located near airports or busy city areas. Car rental agencies serve people whose cars are temporarily out of service or the ones who do not have access to their vehicles, for example owners of damaged vehicles who are awaiting insurance or repair compensation, or travelers from outside the town. Alongside the basic rental of a vehicle, car rental agencies typically offer extra services, such as GPS navigation systems, insurance and entertainment systems.

The global car rental market is segmented by region into North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW). Increasing GDP levels, increasing volumes of both inbound and domestic tourists coupled with rise in disposable incomes and improving road infrastructure are factors driving the car rental industry. The emerging business class in India and China along with the green revolution in the automobile industry is further driving the car rental market. However, the volatility in petroleum product prices, along with high gasoline price, is expected to affect both consumers spending levels and economic conditions across the globe, thereby leaving a moderate impact on the global car rental industry.

Geographically, North America led the global car rental market in 2013 and the region is expected to continue its dominance in 2019. The car rental market in North America is highly concentrated by players, such as Enterprise, Hertz, Avis Budget Group and other regional and local companies, which have substantial presence at various airports across the U.S. and Canada. Europe and Asia-Pacific followed North America in the global car rental market to collectively account for almost half of the global market revenue share.

The car rental industry is segmented on the basis of types of cars into luxury cars, executive cars, economy cars, SUV’s and MUV’s. Among all, economy cars is the most popular and widely-used segment and most companies prefer the usage of economy cars, owing to their cost effectiveness. However, executive cars and luxury cars are widely used for corporate and leisure purposes. MUV’s are expected to grow at the highest growth rate in comparison to other types of cars, owing to the rising popularity of car pooling and car sharing services.

The car rental market is further segmented by categories into local usage, airport transport, outstation and others. The global car rental market is majorly dominated by airport transport, as it provides flexibility, fast service and comfort to the customers. Almost all the major companies have their offices at airports along with designated parking places. Airport transport segment dominated the global car rental market in 2013 accounting for almost half of the global market revenue share. Outstation and others segments accounted for over one-third of the global car rental market revenue share in 2013.

Chapter 1 Preface

1.1 Report Description

1.2 Research Scope

1.3 Research Methodology

 

Chapter 2 Executive Summary

 

Chapter 3 Market Overview

3.1 Introduction

3.2 Supply chain analysis

3.3 Market Drivers

      3.3.1 Growth in number of air travelers

      3.3.2 Growth in leisure and business trips across the globe

      3.3.3 Increasing population and internet users

3.4 Market Restraints

      3.4.1 Tightening emission standards and volatility in crude oil prices

3.5 Market opportunities

      3.5.1 Epoch of Electric/Hybrid Vehicles

3.6 Porter’s Five Forces Analysis

      3.6.1 Bargaining power of suppliers

      3.6.2 Bargaining power of buyers

      3.6.3 Threat of new entrants

      3.6.4 Threat from substitutes

      3.6.5 Degree of competition

3.7 Car rental: Market attractiveness analysis

 

Chapter 4 Global Car rental Market: By Type of Car

4.1 Car rental market: Type overview

      4.1.1 Global car rental market revenue share, by type of car, 2013 – 2019

4.2 Luxury Cars

      4.2.1 Global luxury cars market, 2013 – 2019, (USD Billion) 

4.3 Executive Cars

      4.3.1 Global executive cars market, 2013 – 2019, (USD Billion) 

4.4 Economy Cars

      4.4.1 Global economy cars market, 2013 – 2019, (USD Billion) 

4.5 SUV’s Cars

      4.5.1 Global SUV’s cars market, 2013 – 2019, (USD Billion) 

4.6 MUV’s Cars

      4.6.1 Global MUV’s cars market, 2013 – 2019, (USD Billion) 

 

Chapter 5 Global Car Rental Market: By Category

5.1 Car rental market: Category overview

      5.1.1 Global car rental market revenue share, by technology, 2012 – 2019

5.2 Local usage

      5.2.1 Local usage market, 2013 – 2019, (USD Billion) 

5.3 Airport Transport

      5.3.1 Airport transport market, 2013 – 2019, (USD Billion) 

5.4 Outstation

      5.4.1 Outstation market, 2013 – 2019, (USD Billion) 

5.5 Others

      5.5.1 Others segment market, 2013 – 2019, (USD Billion) 

 

Chapter 6 Competitive Landscape

6.1 Car Rental: Company market share analysis

 

Chapter 7 Global Car Rental Market –By Region

7.1 Global car rental market: Regional overview

      7.1.1 Global car rental market revenue share, by geography, 2013 and 2019

7.2 North America

               7.2.1.1 North America Car Rental market, 2013 – 2019, (USD Billion) 

               7.2.1.2 North America Car Rental market, by type of car, 2013 – 2019, (USD Billion) 

               7.2.1.3 North America Car Rental market, by category, 2013 – 2019, (USD Billion) 

      7.2.2 U.S. 

               7.2.2.1 U.S. Car Rental market, 2013 – 2019, (USD Billion) 

               7.2.2.2 U.S. Car Rental market, by type of car, 2013 – 2019, (USD Billion) 

               7.2.2.3 U.S. Car Rental market, by category, 2013 – 2019, (USD Billion) 

      7.2.3 Others

               7.2.3.1 Others Car Rental market, 2013 – 2019, (USD Billion) 

               7.2.3.2 Others Car Rental market, by type of car, 2013 – 2019, (USD Billion) 

               7.2.3.3 Others Car Rental market, by category, 2013 – 2019, (USD Billion) 

7.3 Europe

      7.3.1 Europe Car Rental market, 2013 – 2019, (USD Billion) 

      7.3.2 Europe Car Rental market, by type of car, 2013 – 2019, (USD Billion) 

      7.3.3 Europe Car Rental market, by category, 2013 – 2019, (USD Billion) 

7.4 Asia Pacific (APAC) 

      7.4.1 Asia Pacific Car Rental market, 2013 – 2019, (USD Billion) 

      7.4.2 Asia Pacific Car Rental market, by type of car, 2013 – 2019, (USD Billion) 

      7.4.3 Asia Pacific Car Rental market, by category, 2013 – 2019, (USD Billion) 

7.5 Rest of the World (RoW) 

      7.5.1 Rest of the World Car Rental market, 2013 – 2019, (USD Billion) 

      7.5.2 Rest of the World Car Rental market, by type of car, 2013 – 2019, (USD Billion) 

      7.5.3 Rest of the World Car Rental market, by category, 2013 – 2019, (USD Billion) 

 

Chapter 8 Company Profiles

8.1 Avis Budget Group, Inc. 

      8.1.1 Company overview

      8.1.2 Financial overview

      8.1.3 Business strategy

      8.1.4 SWOT analysis

      8.1.5 Recent developments

8.2 Sixt Rent A Car

      8.2.1 Company overview

      8.2.2 Financial overview

      8.2.3 Business strategy

      8.2.4 SWOT analysis

      8.2.5 Recent developments

8.3 Enterprise Rent-A-Car

      8.3.1 Company overview

      8.3.2 Financial overview

      8.3.3 Business strategy

      8.3.4 SWOT analysis

      8.3.5 Recent developments

8.4 The Hertz Corporation

      8.4.1 Company overview

      8.4.2 Financial overview

      8.4.3 Business strategy

      8.4.4 SWOT analysis

      8.4.5 Recent developments

8.5 EuropCar

      8.5.1 Company overview

      8.5.2 Financial overview

      8.5.3 Business strategy

      8.5.4 SWOT analysis

      8.5.5 Recent developments

8.6 Al-Futtaim Group

      8.6.1 Company overview

      8.6.2 Financial overview

      8.6.3 Business strategy

      8.6.4 SWOT analysis

      8.6.5 Recent developments

8.7 Carzonrent

      8.7.1 Company overview

      8.7.2 Financial overview

      8.7.3 Business strategy

      8.7.4 SWOT analysis

      8.7.5 Recent developments

8.8 Localiza Rent A Car

      8.8.1 Company overview

      8.8.2 Financial overview

      8.8.3 Business strategy

      8.8.4 SWOT analysis

      8.8.5 Recent developments

8.9 Eco Rent A Car

      8.9.1 Company overview

      8.9.2 Financial overview

      8.9.3 Business strategy

      8.9.4 SWOT analysis

      8.9.5 Recent developments

List of Figures

 

FIG. 1 Supply chain analysis of car rental

FIG. 2 Annual international air passenger growth, 2011-2013 (RPK) 

FIG. 3 Global population and internet users, 2000-2020

FIG. 4 Global carbon dioxide emissions, 2000-2030, (Billion metric tons) 

FIG. 5 Global crude oil price volatility, 2008-2012, (USD per barrel) 

FIG. 6 Porter’s Five Forces Analysis

FIG. 7 Market attractiveness analysis of car rental market, by geography, 2013

FIG. 8 Global car rental market revenue share, by type of car, 2013 – 2019

FIG. 9 Global luxury cars market, 2013 – 2019, (USD Billion) 

FIG. 10 Global executive cars market, 2013 – 2019, (USD Billion) 

FIG. 11 Global economy cars market, 2013 – 2019, (USD Billion) 

FIG. 12 Global SUV’s cars market, 2013 – 2019, (USD Billion) 

FIG. 13 Global MUV’s cars market, 2013 – 2019, (USD Billion) 

FIG. 14 Global car rental market revenue share, by technology, 2012 and 2019

FIG. 15 Global local usage segment market, 2013 – 2019, (USD Billion) 

FIG. 16 Global airport transport segment market, 2013 – 2019, (USD Billion) 

FIG. 17 Global outstation segment market, 2013 – 2019, (USD Billion) 

FIG. 18 Global others segment market, 2013 – 2019, (USD Billion) 

FIG. 19 Car Rental: Company market share analysis, 2013 (%)

FIG. 20 Global car rental market revenue share, by geography, 2013 and 2019

FIG. 21 North America Car Rental market, 2013 – 2019, (USD Billion) 

FIG. 22 U.S. Car Rental market, 2013 – 2019, (USD Billion) 

FIG. 23 Others Car Rental market, 2013 – 2019, (USD Billion) 

FIG. 24 Europe Car Rental market, 2013 – 2019, (USD Billion) 

FIG. 25 Asia Pacific Car Rental market, 2013 – 2019, (USD Billion) 

FIG. 26 Rest of the World Car Rental market, 2013 – 2019, (USD Billion) 

FIG. 27 Avis Budget Group annual revenue, 2011-2013 (USD Billion) 

FIG. 28 Sixt annual revenue, 2011-2013 (USD Million) 

FIG. 29 Enterprise Holdings annual revenue, 2011-2013 (USD Billion) 

FIG. 30 The Hertz Corporation annual revenue, 2011-2013 (USD Million) 

FIG. 31 EuropCar annual revenue, 2010-2012, (USD Billion) 

FIG. 32 Localiza-rent-A-Car annual revenue, 2011-2013 (USD Billion)

List of Tables

 

TABLE 1 Snapshot: Global Car Rental Market

TABLE 2 Drivers for the car rental market: Impact analysis

TABLE 3 Air Traffic Forecast

TABLE 4 Restraints for the global car rental market: Impact analysis

TABLE 5 Electric car sales, 2013

TABLE 6 North America Car Rental market, by type of car, 2013 – 2019, (USD Billion) 

TABLE 7 North America Car Rental market, by category, 2013 – 2019, (USD Billion) 

TABLE 8 U.S. Car Rental market, by type of car, 2013 – 2019, (USD Billion) 

TABLE 9 U.S. Car Rental market, by category, 2013 – 2019, (USD Billion) 

TABLE 10 Others Car Rental market, by type of car, 2013 – 2019, (USD Billion) 

TABLE 11 Others Car Rental market, by category, 2013 – 2019, (USD Billion) 

TABLE 12 Europe Car Rental market, by type of car, 2013 – 2019, (USD Billion) 

TABLE 13 Europe Car Rental market, by category, 2013 – 2019, (USD Billion) 

TABLE 14 Asia Pacific Car Rental market, by type of car, 2013 – 2019, (USD Billion) 

TABLE 15 Asia Pacific Car Rental market, by category, 2013 – 2019, (USD Billion) 

TABLE 16 Rest of the World Car Rental market, by type of car, 2013 – 2019, (USD Billion) 

TABLE 17 Rest of the World Car Rental market, by category, 2013 – 2019, (USD Billion) 

Global and U.S. Car Rental Market: Overview 

The rising trend of international travel for business as well as leisure has driven the global and the U.S. car rental market significantly in the recent times. With augmented international travel volume, the global car rental market, which held an opportunity of US$36.9 bn in 2013, is likely to rise at a CAGR of 13.60% during the period from 2014 to 2019 and reach a value of US$79.4 bn by the end of the forecast period.

This research report has been specially prepared with an objective to present a better understanding of the current as well as the future status of the global and the U.S. car rental market to participants in a bid to assist them in making crucial strategies for the expansion of their businesses.

Global and U.S. Car Rental Market: Trends and Opportunities

The global market for car rental services is highly influenced by the escalating penetration of Internet across the world, thanks to the convenience provided by Internet in availing car rental services. Besides, the growing trend of medical tourism is expected to fuel the demand for rental cars in the coming years, propelling the market substantially. In addition to this, the technological advancements, such as integration of GPS services and entertainment systems is also projected to boost the uptake of car rental services, globally.

On the flip side, the global car rental market is projected to experience severe hindrances in its growth trajectory due stringent regulations regarding the harmful emission by cars. However, the emergence of environment-friendly electric cars is likely to open up lucrative opportunities for players in this market.

The soaring demand for executive cars and MUVs will emerge as the key trend in the global and the U.S. car rental market in the coming years. Airports will surface as the prime application areas for car rental market.

Global and U.S. Car Rental Market: Geographical Analysis

On the geographical basis, North America dominated the global car rental market in 2013 and is expected to maintain its leadership throughout the forecast period. The presence of the leading participants, such as Hertz and Avis Budget Group as well as various other local companies with substantial presence at various airports across Canada and the U.S. is the prime factor behind the dominance of North America in the global car rental market.

Europe and Asia Pacific are also projected to witness a remarkable rise in the demand for car rental services over the next few years. The increasing number of tourists traveling to the U.K. and other European countries for leisure or various other purposes is likely to drive the Europe market for car rentals significantly in the coming years.

The rise in the disposable income of consumers in emerging economies in Asia Pacific is resulting in a considerable increase in international travel for leisure purposes, thereby favoring the growth of the car rental market in this region.

Companies mentioned in the research report

Avis Budget Group, Six Rent A Car, Carzonrent, Enterprise Rent-A-Car, Hertz Corp., and Eco Rent A Car are some of the leading providers of car rental services across the world.

Key Segments of Global and U.S. Car Rental Market

By Type of Car

  • Luxury Cars
  • Executive Cars
  • Economy Cars
  • SUVs
  • MUVs

By Category

  • Local Usage
  • Airport Transport
  • Outstation
  • Others (Self-drive, Event Transportation, Employee Transportation Solutions)

Major regions analyzed under this research report are:

  • Europe
  • North America
  • Asia Pacific
  • Rest of the World

This report gives you access to decisive data such as:

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for the coming years

Key highlights of this report

  • Overview of key market forces propelling and restraining market growth
  • Up-to-date analyses of market trends and technological improvements
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors
  • An array of graphics and SWOT analysis of major industry segments
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis
  • Offers a clear understanding of the competitive landscape and key product segments


 
 
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