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Opportunities For The Global Car Rental Industry To Reach $120 Billion By 2025
According to a new market report published by Lucintel, the future of the global car rental industry looks promising with opportunities in the business and leisure travel. The global car rental industry is expected to reach an estimated $120 billion by 2025 with a CAGR of 6.1% from 2020 to 2025. The major drivers for this market are increasing income level and growth in air passenger traffic.
In this market, the leisure customer will remain the largest segment over the forecast period due to growth in air travel and domestic tourism.
By location, car rental market is segmented into on-airport and off-airport. Lucintel forecasts that on-airport segment will remain the largest market and it is also expected to witness the highest growth during the forecast period as air connectivity improves across sAQq 1`maller cities around the world.
North America will remain the largest region due to the growing adoption of rental vehicles, gains in per capita disposable income, and increasing corporate travel. Asia Pacific is expected to witness highest growth over the forecast period due to rapid urbanization and increased ...
... expenditure on traveling by domestic tourists.
Emerging trends, which have a direct impact on the dynamics of the industry, include enhanced user experience through digitization, additional green vehicles in the fleets of rental car companies, and the concept of self-driving instead of hiring a driver. Enterprise Rent-A-Car, Hertz Group AG, Avis Budget Group Inc., Europcar Mobility Group S.A., and Sixt AG are the major car rental service providers in the global car rental industry.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global car rental industry by location type, customer type, mode of booking, vehicle type, and region, and compiled a comprehensive research report entitled “Growth Opportunities in the Global Car Rental Industry 2020-2025: Trends, Forecast, and Opportunity Analysis”. The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global car rental industry by location type, customer type, mode of booking, vehicle type, and region as follows:
By Location [$B Shipment analysis from 2014 to 2025]:
By Customer Type [$B Shipment analysis from 2014 to 2025]:
By Mode of Booking [$B Shipment analysis from 2014 to 2025]:
By Vehicle Type [$B Shipment analysis from 2014 to 2025]:
• Luxury Cars
• Executive Cars
• Economy Cars
• Sports Utility Vehicles
By region [$B Shipment analysis from 2014 to 2025]:
• North America
o United Kingdom
• Asia Pacific
o Hong Kong
o South Korea
• The Rest of the World
This 154-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056, or email us at firstname.lastname@example.org. Lucintel offerings include Mass Transportation, Transportation Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global car rental industry by location (on-airport and off-airport), type of customer (business, leisure, and others), mode of booking (on-line and off-Line), vehicle type (luxury cars, executive cars, economy cars, sports utility vehicles, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5 What are the business risks and competitive threats in this market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are some of the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10 What are some of the competing service and processes in this market and how big of a threat do they pose for loss of market share by service substitution?
Q.11 What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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