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Published Date: 2017-03-01Number of Pages: 136

Car Rental Market (Car Type - Luxury Cars, Executive Cars, Economy Cars, SUVs, and MUVs; Category Type - Local Usage, Airport Transport, and Outstation) - Global Industry Analysis, Trend, Size, Share and Forecast 2016 - 2024

Global Car Rental Market: Snapshot 

The global market for car rental is heavily influenced by the increasing volumes of inbound and domestic travelers. The rise in the GDP levels, disposable income of consumers, and the improving road infrastructure are also amongst the key factors behind the growth of this market. In addition, the significant growth in the business class, particularly in emerging economies, and the green revolution in the automotive sector are likely to drive this market further in the near future. However, the negative impact of volatile prices of gasoline and petroleum products on the consumers spending levels and the economic conditions across the world is projected to hamper the market’s growth over the forthcoming years. 

The global car rental market stood at US$87.07 bn in 2015. Rising at a CAGR of 14.40% between 2014 and 2024, the market’s opportunity is likely to increase to US$290.07 bn by the end of 2024. 

car rental market

Demand for Car Rental Services to Remain High for Airport Transport 

Airport transport, outstation traveling, and local usage are the main categories of car rental services. Airport transport, among these, has emerged as the key contributor to the overall revenue generated in this market. Thanks to the rising number of air travelers, together with the increasing globalization and industrialization, the scenario is likely to remain unchanged for the next few years. 

Airport transport is closely followed by the local usage segment, which is expected to hold the second position over the forthcoming years. The substantial rise in car pool services and cab sharing in the recent times is anticipated to give rise to the car rental services for the local usage in the near future. 

Despite Slow Growth, North America to Remain Market Leader 

Based on the geography, the worldwide car rental market is bifurcated into Latin America, North America, Europe, the Middle East and Africa, and Asia Pacific. In terms of revenue, the global market is vastly driven by North America. In 2015, the regional market generated US$26.40 bn in revenues. Currently, the market for car rentals in North America is highly concentrated with the significant presence of The Hertz Corp., Enterprise Rent A Car, Avis Budget Group Inc., and various other regional and domestic enterprises, across the U.S. and Canada. The Europe market for car rentals, which held the second position in 2015, demonstrates a comparatively fragmented landscape. In this region, France holds the lead and is expected to remain seated in this position in the near future. 

Over the forthcoming years, even though Europe and North America will continue on their respective positions, the growth in both the regional markets is likely to slow down due to their maturing state. On the other hand, Asia Pacific will show a great deal of progress in the years to come, thanks to the strengthening tourism industry in this region. 

Some of the leading players in the global car rental market are Carzonrent, Localiza Rent A Car, Eco Rent A Car, Al-Futtaim Group, EuropCar, The Hertz Corp., Enterprise Rent A Car, Sixt Rent A Car, and Avis Budget Group Inc.

Section 01 Preface
1.1 Research Scope
1.2 Market Segmentation
1.3 Research Objectives 
1.4 Key Questions Answered

Section 02 Assumptions and Research Methodology
2.1. Report Assumptions
2.2. Acronyms Used
2.3. Research Methodology

Section 03 Executive Summary
3.1. Global Car Rental Market Snapshot 
3.2. Drivers
3.3. Key Trends
3.4. Restraints

Section 04 Market Overview
4.1 Overview
4.2 Key Trend Analysis
4.3 Drivers and Restraints Snapshot Analysis
4.4. Drivers
4.5. Restraints
4.6. Opportunity Analysis
4.7. Porter's Analysis
4.8. Supply Chain Analysis of Car Rental Market
4.9. Car Rental Market Share Analysis by Company
4.10. Competitive strategies adopted by major players
4.11. Market Attractiveness Analysis

Section 05 Car Rental Market Analysis, By Car Type
5.1. Introduction 
5.2. Global Car Rental Market Value Share Analysis, By Car Type 
5.3. Global Car Rental Market Revenue and Forecast, By Car Type 
5.4. Luxury Cars
5.5. Executive Cars
5.6. Economy Cars
5.7. SUVs
5.8. MUVs

Section 06 Car Rental Market Analysis, By Category
6.1. Introduction
6.2. Global Car Rental Market Value Share Analysis, By Category Type
6.3. Global Car Rental Market Revenue and Forecast, By Category Type
6.4. Local Usage 
6.5. Airport Transport
6.6. Outstation
6.7. Others

Section 07 Car Rental Market Analysis, by Region
7.1. North America
7.2. Europe
7.3. Asia Pacific
7.4. Middle East and Africa
7.5. Latin America 
7.6. Geographical scenario 
7.7. Car Rental Market Value Share Analysis, By Region 
7.8. Car Rental Market Revenue and Forecast, By Region 

Section 08 North America Car Rental Market Analysis
8.1 North America Car Rental Market Value Share Analysis, By Car Type 
8.2 North America Car Rental Market Revenue and Forecast, By Car Type
8.3 North America Car Rental Market Value Share Analysis, By Category Type 
8.4. North America Car Rental Market Revenue and Forecast, By Category Type
8.5. North America Car Rental Market Value Share Analysis, By Country Type
8.6. North America Car Rental Market Revenue and Forecast, By Country Type
8.7. U.S. Car Rental Market Analysis
8.8. Canada Car Rental Market Analysis
8.9. Mexico Car Rental Market Analysis

Section 09 Europe Car Rental Market Analysis
9.1 Europe Car Rental Market Value Share Analysis, By Car Type
9.2. Europe Car Rental Market Revenue and Forecast, By Car Type
9.3. Europe Car Rental Market Value Share Analysis, By Category Type 
9.4. Europe Car Rental Market Revenue and Forecast, By Category Type
9.5. Europe Car Rental Market Value Share Analysis, By Country Type
9.6. Europe Car Rental Market Revenue and Forecast, By Country Type
9.7.  U.K. Car Rental Market Analysis
9.8. Germany Car Rental Market Analysis
9.9. France Car Rental Market Analysis
9.10. Italy Car Rental Market Analysis
9.11. Rest of Europe Car Rental Market

Section 10 Asia Pacific Car Rental Market Analysis
10.1. Asia Pacific Car Rental Market Value Share Analysis, By Car Type
10.2. Asia Pacific Car Rental Market revenue and Forecast, By Car Type
10.3. Asia Pacific Car Rental Market Value Share Analysis, By Category Type
10.4. Asia Pacific Car Rental Market Revenue and Forecast, By Category Type
10.5. Asia Pacific Car Rental Market Value Share Analysis, By Country Type
10.6. Asia Pacific Car Rental Market revenue and Forecast, By Country Type
10.7. China Car Rental Market Analysis
10.8. India Car Rental Market Analysis
10.9. Japan Car Rental Market Analysis
10.10. Rest of Asia Pacific Car Rental Market Analysis
 
Section 11 Middle East and Africa Car Rental Market Analysis 
11.1. Middle East and Africa Car Rental Market Value Share Analysis, By Car Type 
11.2. Middle East and Africa Car Rental Market Revenue and Forecast, By Car Type 
11.3. Middle East and Africa Car Rental Market Value Share Analysis, By Category Type
11.4. Middle East and Africa Car Rental Market revenue and Forecast, By Category
11.5. Middle East and Africa Car Rental Market Value Share Analysis, By Country
11.6. Middle east and Africa Car Rental Market Revenue and Forecast, By Country
11.7. UAE Car Rental Market Analysis
11.8. South Africa Car Rental Market Analysis
11.9. Middle East and Africa Car Rental Market Analysis

Section 12 Latin America Car Rental Market Analysis
11.1. Latin America Car Rental Market Value Share Analysis, By Car Type
11.2. Latin America Car Rental Market revenue and Forecast, By car Type
11.3. Latin America Car Rental Market value Share Analysis, By category Type
11.4. Latin America Car Rental market Revenue and Forecast, By Category Type
11.5. Latin America Car Rental Market Value Share Analysis, By Country
11.6. Latin America Car Rental Market Revenue and Forecast, By Country
11.7. Brazil Car Rental Market Analysis
11.8. Argentina Car Rental market
11.9. Rest of Latin America Car Rental Market Analysis

Section 12 Company Profiles
12.1 Avis Budget Group, Inc.
       12.1.1 Company Details (HQ, Foundation Year, Employee Strength)
       12.1.2 Market Presence, By Segment and Geography
       12.1.3 Strategy and SWOT Analysis
       12.1.4 Revenue and Y-o-Y Growth
12.2 sixt Rent A Car
       12.2.1 Company Details (HQ, Foundation Year, Employee Strength)
       12.2.2 Market Presence, By Segment and Geography
       12.2.3 Strategy and SWOT Analysis
       12.2.4 Revenue and Y-o-Y Growth
12.3 Enterprise Rent A Car
       12.3.1 Company Details (HQ, Foundation Year, Employee Strength)
       12.3.2 Market Presence, By Segment and Geography
       12.3.3 Strategy and SWOT Analysis
       12.3.4 Revenue and Y-o-Y Growth
12.4 The Hertz Coorporation
       12.4.1 Company Details (HQ, Foundation Year, Employee Strength)
       12.4.2 Market Presence, By Segment and Geography
       12.4.3 Strategy and SWOT Analysis
       12.4.4 Revenue and Y-o-Y Growth
12.5 EuropCar
       12.5.1 Company Details (HQ, Foundation Year, Employee Strength)
       12.5.2 Market Presence, By Segment and Geography
       12.5.3 Strategy and SWOT Analysis
       12.5.4 Revenue and Y-o-Y Growth
12.6 Al-Futtaim Group
       12.6.1 Company Details (HQ, Foundation Year, Employee Strength)
       12.6.2 Market Presence, By Segment and Geography
       12.6.3 Strategy and SWOT Analysis
       12.6.4 Revenue and Y-o-Y Growth
12.7 Eco Rent A Car
       12.7.1 Company Details (HQ, Foundation Year, Employee Strength)
       12.7.2 Market Presence, By Segment and Geography
       12.7.3 Strategy and SWOT Analysis
       12.7.4 Revenue and Y-o-Y Growth
12.8 Localiza Rent A Car
       12.8.1 Company Details (HQ, Foundation Year, Employee Strength)
       12.8.2 Market Presence, By Segment and Geography
       12.8.3 Strategy and SWOT Analysis
       12.8.4 Revenue and Y-o-Y Growth
12.10 Carzonrent
       12.10.1 Company Details (HQ, Foundation Year, Employee Strength)
       12.10.2 Market Presence, By Segment and Geography
       12.10.3 Strategy and SWOT Analysis 12.10.4 Revenue and Y-o-Y Growt

List of Figures 

FIG. 1 Global Market Size, Indicative (US $ Bn)
FIG. 2 Market Share, By Category Type, 2015
FIG. 3 Global Population and Internet Users
FIG. 4 Global Carbon dioxide emissions, 2000-2030 (Billion Metric Tones)
FIG. 5 Supply Chain Analysis of CarRental Market
FIG. 6 Global Car Rental Market Share Analysis, By Company (2015)
FIG. 7 Market Attractiveness Analysis, By Region, 2015
FIG. 8 Global Car Rental Market Value Share Analysis By Car Type, 2015 and 2024 
FIG. 9 Global Car Rental Market Revenue, Luxury Cars (US$ Bn), 2015-2024 
FIG. 10 Global Car Rental Market Revenue, Executive Cars (US$ Bn), 2015-2024
FIG. 11 Global Car Rental Market Revenue, Economy Cars (US$ Bn), 2015-2024
FIG. 12 Global Car Rental Market Revenue, SUVs, (US$ Bn), 2015-2024
FIG. 13 Global Car Rental Market Revenue, MUVs, (US$ Bn), 2015-2024
FIG. 14 Global Car Rental Market Value Share Analysis, By Category Type, 2015 and 2024
FIG. 15 Global Car Rental Market Revenue, Local Usage (US$ Bn), 2015-2024
FIG 16 Global Car Rental Market Revenue, Airport Transport (US$ Bn), 2015-2024 
FIG. 17 Global Car Rental Market Revenue, Outstation (US$ Bn), 2015-2024 
FIG. 18 Global Car Rental Market Revenue, Others (US$ Bn), 2015-2024 
FIG. 19 Global Car Rental Market Value Share Analysis, By Region, 2015 and 2024 
FIG. 20 North America Car Rental Market Value Share Analysis, By Car Type, 2015 and 2024
FIG. 21 North America Car Rental Market Value Share Analysis, By Category Type, 2015 and 2024
FIG. 22 North America Market Value Share Analysis, By Country, 2015 and 2024
FIG. 23 U.S. Car Rental Market Revenue (US$ Bn), 2015-2024
FIG. 24 Canada Car Rental Market Revenue (US$ Bn), 2015-2024
FIG. 25. Mexico Car Rental Market Revenue (US$ Bn), 2015-2024 Adaptive Optics Market 
FIG. 26 Europe Car Rental Market Value Share Analysis, By Car Type, 2015-2024
FIG. 27 Europe Car Rental Market Value Share Analysis, By Category Type, 2015-2024 
FIG. 28 Europe Car Rental Market Value Share Analysis, By Country, 2015-2024 
FIG. 29 U.K. Car Rental Market Revenue (US$ Bn), 2015-2024 
FIG. 30 Germany Car Rental Market Revenue (US$ Bn), 2015-2024 
FIG. 31 France Car Rental Market Revenue (US$ Bn), 2015-2024
FIG. 32 Italy Car Rental Market Revenue (US$ Bn), 2015-2024
FIG. 33 Rest of Europe Car Rental Market Revenue (US$ Bn), 2015-2024
FIG. 34 Asia Pacific Car Rental Market Value Share Analysis, By Car Type,2015-2024 
FIG. 35 Asia Pacific Car Rental Market Value Share Analysis, By Category, 2015-2024 
FIG. 36 Asia Pacific Car Rental Market Value Share Analysis, By Country, 2015-2024 
FIG. 37 China Car Rental Market Revenue (US$ Bn), 2015-2024
FIG  38 India Car Rental Market Revenue (US$ Bn), 2015-2024 
FIG. 39 Japan Car Rental Market Revenue (US$ Bn), 2015-2024 
FIG. 40 Rest of Asia Pacific Car Rental Market Revenue (US$ Bn), 2015-2024 
FIG. 41 Middle East and Africa Car Rental Market Value Share Analysis, By Car Type, 2015-2024 
FIG. 42 Middle East and Africa Car Rental Market Value Share Analysis, By Category Type, 2015 and 2024. 
FIG. 43 Middle East and Africa Car Rental Market Value Share Analysis, By Country, 2015 and 2024
FIG. 44 UAE Car Rental Market Revenue (US$ Bn), 2015-2024
FIG. 45 South Africa Car Rental Market Revenue (US$ Bn), 2015-2024
FIG. 46 Rest of Middle East and Africa CarRental Market Revenue (US$ Bn), 2015-2024
FIG. 47 Latin America Car Rental Market Value Share Analysis By Car Type, 2015 and 2024 
FIG. 48 Latin America Car Rental Market Value Share Analysis By Category Type, 2015 and 2024
FIG. 49 Latin America Car Rental Market Value Share Analysis By Country, 2015 and 2024
FIG. 50 BrazilCar Rental Market Revenue (US$ Bn), 2015-2024 
FIG. 51 Argentina Car Rental Market Revenue (US$ Bn), 2015-2024 
FIG. 52 Rest of Latin America Car Rental Market Revenue (US$ Bn), 2015-2024 

List of Tables

TABLE 1 Growth in number of Air Passengers
TABLE 2 Global Car Rental Market Revenue (US$ Bn) and Forecast, By Car Type, 2015-2024 Size
TABLE 3 Global Car Rental Market Revenue (US$ Bn) and Forecast, By Category Type, 2015-2024 
TABLE 4 Global Car Rental Market Revenue (US$ Bn) and Forecast, By Region, 2015-2024 
TABLE 5 North America Car Rental Market Revenue (US$ Bn) and Forecast, By Car Type, 2015-2024 
TABLE 6 NorthAmerica Car Rental Market Revenue (US$ Bn) and Forecast, By Category Type, 2015-2024 
TABLE 7 North America Car Rental Market Revenue (US$ Bn) and Forecast, By Country, 2015-2024 
TABLE 8 Europe Car Rental Market Revenue (US$ Bn) and Forecast, By Car Type, 2015-2024 
TABLE 9 Europe Car Rental Market Revenue (US$ Bn) and Forecast, By Category Type, 2015-2024 
TABLE 10 Europe Car Rental Market Revenue (US$ Bn) and Forecast, By Country, 2015-2024 
TABLE 11 Asia Pacific Car Rental Market Revenue (US$ Bn) and Forecast, By Car Type, 2015-2024
TABLE 12 Asia Pacific Car Rental Market Revenue (US$ Bn) and Forecast, By Category Type, 2015-2024
TABLE 13 Asia Pacific Car Rental Market Revenue (US$ Bn) and Forecast, By Country Type, 2015-2024 
TABLE 14 Middle East and Africa Car Rental Market Revenue (US$ Bn) and Forecast, By Car Type, 2015-2024 
TABLE 15 Middle East and Africa Car Rental Market Revenue (US$ Bn) and Forecast, By Category Type, 2015-2024 
TABLE 16 Middle East and Africa Car Rental Market Revenue (US$ Bn) and Forecast, By Country, 2015-2024 
TABLE 17 Latin America Car Rental Market Revenue (US$ Bn) and Forecast, By Car Type, 2015-2024 
TABLE 18 Latin America Car Rental Market Revenue (US$ Bn) and Forecast, By Category Type, 2015-2024 
TABLE 19 Latin America Car Rental Market Revenue (US$ Bn) and Forecast, By Country, 2015-2024

Global Car Rental Market: Overview 

Car rental has emerged to be one of the most prominent services operating in the urban transport sector.Rising demand for car sharing, growth of megacities and increase in the number of business travelers are some of the crucial reasons which will lead to a huge growth in the car rental industry. The leading car rental companies operating in the global market such as, Avis Budget Group, Inc., The Hertz Corporation and The Sixt Rent, have been adding cars to their existing fleet which have advanced telematics and navigation solutions. The market is highly competitive with several international and regional companies operating in the market. A car rental company rents and leases vehicles for a particular period of time for a specified amount of fees. The time can range from a few hours to a few months. Car rental companies are also accompanied by websites for allowing online reservations which are hassle-free and convenient compared to traditional reservation methods. 

The car rental industry is majorly driven by expansion and growth of the travelling and tourism industry. The globally rising disposable incomes, coupled with  enhanced road infrastructure are the key factors which have boosted the number of leisure and business trips, this in turn will drive the growth trajectories of the global car rental market. In recent years, the car rental industry has witnessed implementation of information technology. The use of internet for arranging trips and online reservations is becoming increasingly prevalent. 

The advent of information technology in this industry has made the entire procedures of booking and reserving trips quicker, safer and easier and reliable for the customers.However, tighteningof emission standards and volatility of crude oil prices is expected to have moderate negative impact on the car rental industry.The International Energy agency has constantly warned about the increase in carbon dioxide emissions over the years. Many international meetings and agreements have demanded both the emerging and mature economies to cut down emissions significantly. Thus, this factor creates the need for green energy generation, in order to reduce carbon dioxide emissions and overall environmental pollution. As a result, leading companies, such as Enterprise Rent-A-Car, have adopted green car rentals. Other players are also aiming to adopting the same soon. 

Global Car Rental Market: Segmentation 

The global car rental market report segments the market on the basis of geography as North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and Latin America, and these have been estimated in terms of revenue (USD billion). The report also segments the market based on the types of cars, which include luxury cars, executive cars, economy cars, SUV’s and MUV’s. The global car rental market is further segregated on the basis of category into local usage, airport, outstation, and others (self-drive, event transportation, employee transportation solutions). All these segments have also been estimated on the basis of geography in terms of revenue (USD billion). 

For a more detailed understanding of the market, a supply chain analysis along with Porter’s Five Forces analysis has been given. These two analysis will give a brief idea about the intensity of competition present in the market. Additionally, our study also provides a market attractiveness analysis, where the car type segment has been analyzed based on their market scope, general attractiveness and growth rate. 

Global Car Rental Market: Competitive Analysis 

The report provides company market share analysis of various industry participants. The company profiles are inclusive of the company overview, financial overview, business strategies, SWOT analysis, and recent developments in the field of car rental. Some of the major market participants profiled in this report include Enterprise Rent-A-Car, The Hertz Corporation, Avis Budget Group, Inc., EuropCar and Sixt among others. 

The global car rental market has been segmented as follows: 

By Car Type

  • Luxury Cars
  • Executive Cars
  • Economy Cars
  • SUVs
  • MUVS 

By Category

  • Local Usage
  • Airport Transport
  • Outstation
  • Others 

By Geography

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Middle East and Africa (MEA)
    • U.A.E
    • South Africa
    • Rest of Middle-East and Africa
  • Latin America
    • Brazil
    • Rest of Latin America
    • Rest of Latin America


 
 
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