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Worldwide Car Rental Industry to 2026 - Key Players Include Avis Budget Group, Sixt and Localiza Among Others - ResearchAndMarkets.com

July 2, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Jul 2, 2021--

The “Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.

The global car rental market reached a value of US$ 93.7 Billion in 2020. Looking forward, the publisher expects the market to reach a value of US$ 144.7 Billion by 2026, growing at a CAGR of 7.2% during 2021-2026.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

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Car rental refers to the facility of renting automobiles temporarily for a predefined period through online or offline channels. Car rental services are primarily aimed at serving travelers and individuals who do not own private vehicles. Renting automobiles is considered to be a more cost-effective alternative to owning a vehicle as it offers freedom of movement, low-cost traveling and enables the evasion of high ownership costs. The service providers also offer various other products, such as car damage repair, insurance compensation policies, entertainment systems, global positioning systems (GPS) and Wi-Fi networks, for providing enhanced convenience to users.

Significant growth in the travel and tourism industry across the globe is one of the key factors driving the growth of the car rental industry. Furthermore, the rising urban population with increasing inclination toward adventure and travel is also providing a boost to the market growth. In line with this, individuals are adopting car rental services in the form of taxis and carpooling for increased mobility and cost-effective traveling.

The implementation of favorable government policies, along with the increasing awareness regarding environment conservation, is acting as another growth-inducing factor. Governments of both the developed and emerging economies are emphasizing on minimizing their vehicular emissions and promoting car rental services as one of the most economical modes of transportation. Other factors, including the introduction of car rental services through websites and smartphone-based applications, coupled with increasing expenditure capacities of the masses, are expected to drive the market further.

Companies Mentioned

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  • Avis Budget Group, Inc.
  • Carzonrent India Private Limited
  • Eco rent a car
  • Sixt SE
  • Localiza
  • Enterprise Holdings, Inc.
  • Enterprise Rent-A-Car
  • Europcar
  • The Hertz Corporation

Key Questions Answered in This Report:

  • How has the global car rental market performed so far and how will it perform in the coming years?
  • What are the key regional markets?
  • What has been the impact of COVID-19 on the global car rental market?
  • What is the breakup of the market based on the booking?
  • What is the breakup of the market based on the rental length?
  • What is the breakup of the market based on the vehicle type?
  • What is the breakup of the market based on the application?
  • What is the breakup of the market based on the end-user?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the market?
  • What is the structure of the global car rental market and who are the key players?
  • What is the degree of competition in the market?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Car Rental Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Forecast

6 Market Breakup by Booking

7 Market Breakup by Rental Length

8 Market Breakup by Vehicle Type

9 Market Breakup by Application

10 Market Breakup by End-User

11 Market Breakup by Region

12 SWOT Analysis

13 Value Chain Analysis

14 Porters Five Forces Analysis

15 Price Indicators

16 Competitive Landscape

16.1 Market Structure

16.2 Key Players

16.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/h099p2

View source version on businesswire.com:https://www.businesswire.com/news/home/20210702005280/en/

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KEYWORD:

INDUSTRY KEYWORD: AUTOMOTIVE GENERAL AUTOMOTIVE

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 07/02/2021 10:27 AM/DISC: 07/02/2021 10:27 AM

http://www.businesswire.com/news/home/20210702005280/en