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

Car Rental Market - Global Industry Analysis, Trend, Size, Share and Forecast 2016 - 2024

Car Rental Market: Snapshot 

The global car rental market is driven by the growing number of inbound and domestic travelers. The increasing number of air travelers is also positively impacting the growth of this market. Travelers across the globe are demanding high quality and reliable travel services for their tours. Leading car rental service providers are offering quality services and promoting their brands at airports and this is helping customers to adopt their services. Players in the market are concentrating on broadening their fleet size by including technical gadgets. Gadgets such as GPS and music systems are being used increasingly for profitability. This is expected to intensify the competition among players in the years to come. 

However, the fluctuation of oil price will restrict the growth of this market. The growing price of petrol and gasoline will affect the consumer spending level and this expected to act as a challenge. On a positive note however, the rise in GDP levels and increasing disposable income of consumers will have a positive influence on the market. 

car rental market

North America to Lead in Car Rental Market 

North America accounted for 30% of the market in 2015. In 2015, the North American market was worth US$26.40 bn.  The Hertz Corp., Avis Budget Group Inc., and Enterprise Rent A Car are key companies from the U.S. and Canada. The European market for car rentals will also witness high growth during the coming years. France is expected to be a leading contributor to the European car rental market. Europe is expected to be the second lucrative regional market in the car rental market. The strengthening position of the medical tourism industry will drive the Asia Pacific market for car rentals during the period from 2016 to 2024. 

Airport Transport Segment to Lead in Car Rental Market 

On the basis of category, the global car rental market is segmented into local usage, airport transport, and outstation. Of these, the airport transport segment is anticipated to contribute the most to the growth of the car rental market. The increase in the number of air travelers and increasing industrialization will push the growth of this segment in the years to come. The local usage segment will trail the airport transport segment. The high increase in the demand and adoption of cab sharing and car pool services will drive the car rental services for local usage. 

Information Technology to Make Car Bookings Easier 

The penetration of information technology in the car rental industry has made car bookings and car reservations much simpler, reliable, easier, and safer and thus, customers are increasingly adopting these services. Stringent emissions standards by governments across countries will hamper the growth of this market. The increasing number of warnings by The International Energy Agency regarding the rising emissions of carbon dioxide will restrict the growth of this market in the years to come. International meetings and agreements are demanding mature economies and emerging nations to reduce carbon emissions. Thus, green movement has become a trend that is becoming popular. Leading companies are thus, adopting green car rentals.

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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