Car Rental Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2019 - 2025

Report Code: AM 75423 Report Format: PDF + Excel (Delivery in 48 Hrs)

Car Rental Market: Overview

The recovery of the global economy in the past decade played a significant role in the progression of the travel industry. The growing trend and consumers' interest in travel is enhancing the car rental market when companies are providing positive services and output. Some applied innovative fronts such as easy to book over mobile apps, 24x7 availability of the car, and cost affordability is driving rental cars demand. The global car rental market had a market size of $64.47 billion in 2018 and opportunities are poised growing with a compound annual growth rate (CAGR) of 11.53% during the forecast period 2019-2025.

North America is positioned as the leading region in the global car rental market. Burgeoning tourism sector in the region is one of the factor for region's growth. Furthermore, increasing air travelers for business and vacation trips are opting for such services while touring different territories away from home. In 2018, North America served 29.98% of the overall revenue generation in 2018. However, the exponential growth of disposable income among the urban population in emerging economies is cultivating substantial opportunities in the Asia Pacific.

Car Rental Market: Outlook

A car rental or hire a car agency is a company that provides service of renting automobiles for the short-time duration. Car rental companies purchase the number of fleet vehicles and rent them to customers with a fee. ACRISS Car Classification Coding system is important factor to define the car models. The matrix to define car models consist of vehicle type, chassis type, transmission, fuel type according to which four character code is created and assigned to the car.

Economical car and executive car are major segments adding high revenue in the car rental market. The growing usage of these cars for airport service are driving the market owing to which the application segment is growing rapidly with a CAGR of 12.72% going through 2025.

Car Rental Market: Growth Drivers

· Growth of international tourism coupled with increasing cognizance about car rental service is driving the car rental market.

· Several companies are offering mobile apps for booking rental cars or to check for their availability. Moreover, additional promotional strategies such as promotional offers,  discount coupons, wallet cash are some factors inclining consumers towards cost-effective car rental services.

· Various travel agencies are promoting car rental companies that will further promote the value of the car rental market.

· Rising demand for car rental services from students and youth population for road trips, short vacation is influencing the car rental market.

Car Rental Market: Trends

· Offering car rental on hourly basis is one of the trends in the car rental market.

· Many car rentals companies have launched the car hop service which comprises of path-breaking one way, inter-city self-drive. The service provides the option of renting a car from point A to B and again pick up a car from another city at point C from same car rental company. Due to features such as convenience travel option and flexibility, the hopping service is gaining traction from consumers in the car rental market.

· With increases in demand for cars there is a need to match the increasing supply. The increase in the mergers between car manufacturing companies and car rental companies are expanding the fleet and opportunities for both companies to leverage their business revenue.

· Luxury and premium car models always fascinate the customers. The launch of renting luxury cars service is gaining popularity among wide population. Increasing number of booking for hotel travel desk, event transportation, wedding & parties are adding high incentive in the car rental market.

· The growing options of vintage cars renting service is another factor fueling the car rental market.

· The car rental companies are focusing on merging with a local population known as peer-to-peer car sharing. People who own a car but do not use it often can merge with the rental companies to give their own car for renting service and earn the profit. The collaboration between two are gaining immense popularity in the car rental market.

Car Rental Market: Challenge

One of the main challenge faced by car rental companies is to provide superior customer service. Lack of information on payment options, long booking and non-availability of the cars are some factors that can hamper demand in the car rental market. Dire need of technology to overcome the challenges has led to the innovation of mobile software and various mergers among car manufacturers and car rental companies to increase the number of cars. Such developments will determine the car rental market value in the near future.  

Car Rental Market: Key Players Perspective

Some of the major players in the car rental market are Avis Budget Group Inc., Eco Rent a Car, Advantage Rent-a-car, Enterprise Holdings Inc. Global CARS, U-save-Auto-Rental System, Ace Rent-a-car, Eco Rent a Car, Europcar and Budget Rent A Car System, Inc.

Car Rental Market Research Scope:

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the car rental market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of car rental market, and its segmentation on the basis of product type that includes luxury car, executive car, economical car, sport utility car, and multi utility car.

Global Car Rental Market Report: Industry Coverage

The report analyses the product demands by the car rental market on the basis of rental category that includes on airport and off airport.

The car rental market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:

  • North America: The U.S., Canada, Mexico
  • South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
  • Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
  • APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
  • Middle East and Africa: Israel, South Africa, Saudi Arabia

Key Questions Addressed in the Car Rental Market Report

Is the market demand for car rental growing? How long will it continue to grow and at what rate?

Which type of car rental presents the major growth opportunities?

Is there a possibility for change in the market structure over time?

Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?

Do the key vendors look for partnerships to expand their businesses with respect to geography or product?

What are the short-term, long-term, and medium-term growth drivers for the market?

What are the short-term, medium-term, and long-term challenges for the market?

What are the short-term, medium-term, and long-term opportunities for the market

Who are the top players/companies of the market?

What are the recent innovations in the market?

How many patents have been filed by the leading players?

What are the types of patents filed by the leading players?

What is our Vision 2030 for car rental market?

A Few Focus Points Of This Research Are Given Below:

  • Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
  • Provide an overview of the product portfolio, including product planning, development, and positioning
  • Discuss the role of technology companies in partnerships
  • Explore the regional sales activities
  • Analyze the market size and giving the forecast for current and future global car rental market during the forecast 2019–2025
  • Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures.
1. Car Rental Market - Overview
        1.1 Definitions and Scope
2. Car Rental Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Car Rental Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Car Rental Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Car Rental Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Car Rental Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Car Rental Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Car Rental Market - By Type Of Car (Market Size -$Million / $Billion)
        8.1 Market Size and Market Share Analysis
        8.2 Application Revenue and Trend Research
        8.3 Product Segment Analysis
            8.3.1 Luxury Car
            8.3.2 Executive Car
            8.3.3 Economical Car
            8.3.4 Sport Utility Vehicle
            8.3.5 Multi Utility Vehicle
9. Car Rental Market - By Rental Category(Market Size -$Million / $Billion)
9.1 On Airport
9.2 Off Airport
9.2.1 Local Usage Off Airport Car Rental
9.2.2 Outstation Off Airport Car Rental
9.2.3 Others Off Airport Car Rental
10. Car Rental - By Application (Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
11. Car Rental- By Geography (Market Size -$Million / $Billion)
        11.1 Car Rental Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Car Rental- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Car Rental- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Car Rental - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Car Rental - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Car Rental Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Car Rental Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Car Rental Market - Key Company List by Country Premium
15. Car Rental Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Avis Budget Group
        15.3 Budget Rent A Car System, Inc
        15.4 Carzonrent India Pvt Ltd
        15.5 Eco Rent A Car
        15.6 Enterpise Holding Inc
        15.7 Europcar
        15.8 Localiza
        15.9 Sixt
        15.10 The Hertz Corporation
        15.11 Uber Technology Inc
        15.12 Company 12
        15.13 Company 13 & More
*Financials would be provided on a best efforts basis for private companies
16. Car Rental Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Car Rental Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

LIST OF TABLES

1.Global Car Rental Market, By Type Of Car Market 2019-2024 ($M)
1.1 Luxury Car Market 2019-2024 ($M) - Global Industry Research
1.2 Executive Car Market 2019-2024 ($M) - Global Industry Research
1.3 Economical Car Market 2019-2024 ($M) - Global Industry Research
1.4 Sport Utility Vehicle Market 2019-2024 ($M) - Global Industry Research
1.5 Multi Utility Vehicle Market 2019-2024 ($M) - Global Industry Research
2.Global Car Rental Market, By Rental Category Market 2019-2024 ($M)
2.1 On Airport Market 2019-2024 ($M) - Global Industry Research
2.2 Off Airport Market 2019-2024 ($M) - Global Industry Research
2.2.1 Local Usage Off Airport Car Rental Market 2019-2024 ($M)
2.2.2 Outstation Off Airport Car Rental Market 2019-2024 ($M)
3.Global Car Rental Market, By Type Of Car Market 2019-2024 (Volume/Units)
3.1 Luxury Car Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Executive Car Market 2019-2024 (Volume/Units) - Global Industry Research
3.3 Economical Car Market 2019-2024 (Volume/Units) - Global Industry Research
3.4 Sport Utility Vehicle Market 2019-2024 (Volume/Units) - Global Industry Research
3.5 Multi Utility Vehicle Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Car Rental Market, By Rental Category Market 2019-2024 (Volume/Units)
4.1 On Airport Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Off Airport Market 2019-2024 (Volume/Units) - Global Industry Research
4.2.1 Local Usage Off Airport Car Rental Market 2019-2024 (Volume/Units)
4.2.2 Outstation Off Airport Car Rental Market 2019-2024 (Volume/Units)
5.North America Car Rental Market, By Type Of Car Market 2019-2024 ($M)
5.1 Luxury Car Market 2019-2024 ($M) - Regional Industry Research
5.2 Executive Car Market 2019-2024 ($M) - Regional Industry Research
5.3 Economical Car Market 2019-2024 ($M) - Regional Industry Research
5.4 Sport Utility Vehicle Market 2019-2024 ($M) - Regional Industry Research
5.5 Multi Utility Vehicle Market 2019-2024 ($M) - Regional Industry Research
6.North America Car Rental Market, By Rental Category Market 2019-2024 ($M)
6.1 On Airport Market 2019-2024 ($M) - Regional Industry Research
6.2 Off Airport Market 2019-2024 ($M) - Regional Industry Research
6.2.1 Local Usage Off Airport Car Rental Market 2019-2024 ($M)
6.2.2 Outstation Off Airport Car Rental Market 2019-2024 ($M)
7.South America Car Rental Market, By Type Of Car Market 2019-2024 ($M)
7.1 Luxury Car Market 2019-2024 ($M) - Regional Industry Research
7.2 Executive Car Market 2019-2024 ($M) - Regional Industry Research
7.3 Economical Car Market 2019-2024 ($M) - Regional Industry Research
7.4 Sport Utility Vehicle Market 2019-2024 ($M) - Regional Industry Research
7.5 Multi Utility Vehicle Market 2019-2024 ($M) - Regional Industry Research
8.South America Car Rental Market, By Rental Category Market 2019-2024 ($M)
8.1 On Airport Market 2019-2024 ($M) - Regional Industry Research
8.2 Off Airport Market 2019-2024 ($M) - Regional Industry Research
8.2.1 Local Usage Off Airport Car Rental Market 2019-2024 ($M)
8.2.2 Outstation Off Airport Car Rental Market 2019-2024 ($M)
9.Europe Car Rental Market, By Type Of Car Market 2019-2024 ($M)
9.1 Luxury Car Market 2019-2024 ($M) - Regional Industry Research
9.2 Executive Car Market 2019-2024 ($M) - Regional Industry Research
9.3 Economical Car Market 2019-2024 ($M) - Regional Industry Research
9.4 Sport Utility Vehicle Market 2019-2024 ($M) - Regional Industry Research
9.5 Multi Utility Vehicle Market 2019-2024 ($M) - Regional Industry Research
10.Europe Car Rental Market, By Rental Category Market 2019-2024 ($M)
10.1 On Airport Market 2019-2024 ($M) - Regional Industry Research
10.2 Off Airport Market 2019-2024 ($M) - Regional Industry Research
10.2.1 Local Usage Off Airport Car Rental Market 2019-2024 ($M)
10.2.2 Outstation Off Airport Car Rental Market 2019-2024 ($M)
11.APAC Car Rental Market, By Type Of Car Market 2019-2024 ($M)
11.1 Luxury Car Market 2019-2024 ($M) - Regional Industry Research
11.2 Executive Car Market 2019-2024 ($M) - Regional Industry Research
11.3 Economical Car Market 2019-2024 ($M) - Regional Industry Research
11.4 Sport Utility Vehicle Market 2019-2024 ($M) - Regional Industry Research
11.5 Multi Utility Vehicle Market 2019-2024 ($M) - Regional Industry Research
12.APAC Car Rental Market, By Rental Category Market 2019-2024 ($M)
12.1 On Airport Market 2019-2024 ($M) - Regional Industry Research
12.2 Off Airport Market 2019-2024 ($M) - Regional Industry Research
12.2.1 Local Usage Off Airport Car Rental Market 2019-2024 ($M)
12.2.2 Outstation Off Airport Car Rental Market 2019-2024 ($M)
13.MENA Car Rental Market, By Type Of Car Market 2019-2024 ($M)
13.1 Luxury Car Market 2019-2024 ($M) - Regional Industry Research
13.2 Executive Car Market 2019-2024 ($M) - Regional Industry Research
13.3 Economical Car Market 2019-2024 ($M) - Regional Industry Research
13.4 Sport Utility Vehicle Market 2019-2024 ($M) - Regional Industry Research
13.5 Multi Utility Vehicle Market 2019-2024 ($M) - Regional Industry Research
14.MENA Car Rental Market, By Rental Category Market 2019-2024 ($M)
14.1 On Airport Market 2019-2024 ($M) - Regional Industry Research
14.2 Off Airport Market 2019-2024 ($M) - Regional Industry Research
14.2.1 Local Usage Off Airport Car Rental Market 2019-2024 ($M)
14.2.2 Outstation Off Airport Car Rental Market 2019-2024 ($M)

LIST OF FIGURES

1.US Car Rental Market Revenue, 2019-2024 ($M)
2.Canada Car Rental Market Revenue, 2019-2024 ($M)
3.Mexico Car Rental Market Revenue, 2019-2024 ($M)
4.Brazil Car Rental Market Revenue, 2019-2024 ($M)
5.Argentina Car Rental Market Revenue, 2019-2024 ($M)
6.Peru Car Rental Market Revenue, 2019-2024 ($M)
7.Colombia Car Rental Market Revenue, 2019-2024 ($M)
8.Chile Car Rental Market Revenue, 2019-2024 ($M)
9.Rest of South America Car Rental Market Revenue, 2019-2024 ($M)
10.UK Car Rental Market Revenue, 2019-2024 ($M)
11.Germany Car Rental Market Revenue, 2019-2024 ($M)
12.France Car Rental Market Revenue, 2019-2024 ($M)
13.Italy Car Rental Market Revenue, 2019-2024 ($M)
14.Spain Car Rental Market Revenue, 2019-2024 ($M)
15.Rest of Europe Car Rental Market Revenue, 2019-2024 ($M)
16.China Car Rental Market Revenue, 2019-2024 ($M)
17.India Car Rental Market Revenue, 2019-2024 ($M)
18.Japan Car Rental Market Revenue, 2019-2024 ($M)
19.South Korea Car Rental Market Revenue, 2019-2024 ($M)
20.South Africa Car Rental Market Revenue, 2019-2024 ($M)
21.North America Car Rental By Application
22.South America Car Rental By Application
23.Europe Car Rental By Application
24.APAC Car Rental By Application
25.MENA Car Rental By Application
26.Avis Budget Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Carzonrent India Pvt Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Enterpise Holding Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Europcar, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.The Hertz Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Sixt, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Uber Technology Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Localiza, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Eco Rent A Car, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Budget Rent A Car System, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)