Consumer & Luxury Goods Market Research News

New research examines key players in the car rental market

Consumer Market Research

The Global Car Rental market is estimated to grow at a CAGR of 14.17% from 2018 to reach USD 89.3 Billion by the year 2023.

GLOBAL CAR RENTAL MARKET Make an Inquiry about this news was valued at USD 35.5 Billion in the year 2017. 

North America region holds the highest market share in 2017 whereas the Asia-Pacific market is considered as the fastest growing region in the forecasted period. At the country level, developed markets like the US with highest population base holds the notable market share in 2017 and it is projected to grow strongly in the coming years.

Sixt SE (Germany), Avis Budget Group, Inc. (US), The Hertz Corporation (US), Enterprise Holdings Inc.

(US) are some of the key players in the Car Rental market with The Hertz Corporation holding the substantial market share because of its better global presence both at production and at an operational level. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.

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Drivers:

             The rise in the tourism industry

             Rising demand from the corporate sector

Restraints:

             High initial investments

Opportunities:

             Introduction of autonomous cars

Challenges:

             Logistics management

Amongst vehicle types such as Economy cars, Executive cars, Luxury cars and SUVs & MUVs, it is observed that the Economy cars segment because of the growing popularity and availability is expected to hold the highest market share during the forecasted period.

On the other hand Executive cars for this market is expected to grow at the highest CAGR of X.X% during the year 2018-2023.

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Key Benefits for Stakeholders

Car Manufacturers, Distributors, and Retailers

Research and Consulting organization

Technology Standards Organizations, Forums, Alliances and Associations

End-use industries

Regulatory bodies, policy actors, and consumers.

By Vehicle Type

Executive Cars

Economic Cars

Luxury Cars

Multi Utility Vehicles (MUVs)

Sports Utility Vehicles (SUVs)

By Rental Category

Local Transport

Outstation Transport

Airport Transport

Others

By Mode of Booking

Online Booking

Offline Booking

By Region

North America

Europe

Asia-Pacific

LAMEA

Key Market Players

1 Europcar (France)

2 Avis Budget Group, Inc. (US)

3 Enterprise Holdings Inc. (US)

4 Carzonrent India Pvt Ltd. (India)

5 The Hertz Corporation (US)

6 Alamo (US)

7 Sixt SE (Germany)

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News From

Genesis Market InsightsGenesis Market Insights
Category: Market Research Publishers and RetailersCompany about: Genesis Market Insights (GMI), is a subsidiary of Genesis Management & Market Research Pvt.Ltd. (GMMR) having a strong experience both in primary and secondary market research serving small to large scale enterprises across the globe. Established in 1993, GMMR has become a recommended brand for Market Research for various international and MNC Corporations with its strong data foundation. With its exhaustive research capabilities, strong analytics services and in-house data validation tools, ...
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