Car Rental Market 2021-2026: Size, Share, Growth, Industry Trends, Leading Companies, Demand and Future Scope

June 11 16:00 2021
Car Rental Market 2021-2026: Size, Share, Growth, Industry Trends, Leading Companies, Demand and Future Scope
The global car rental market reached a value of US$ 93.70 Billion in 2020. Looking forward, the market value is expected to reach US$ 144.7 Billion by 2026, growing at a CAGR of 7.2% during 2021-2026.

According to IMARC Group’s latest report, titled “Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global car rental market reached a value of US$ 93.70 Billion in 2020. Looking forward, the market value is expected to reach US$ 144.7 Billion by 2026, growing at a CAGR of 7.2% during 2021-2026.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.

Request for a free sample copy of this report: https://www.imarcgroup.com/car-rental-market/requestsample

Car rental, or hire a car facility, refers to the process of renting a car for a short duration. These car rental services are provided by agencies that purchase several fleet vehicles and rent them to customers for a fee. Nowadays, individuals prefer to hire a car on rent as it is a more cost-effective alternative than owning a vehicle and offers freedom of movement and low-cost traveling. Some rental cars are also equipped with entertainment systems, global positioning systems (GPS), and Wi-Fi networks.

Market Trends and Drivers:

The global car rental market is primarily driven by the rapid growth of the information technology (IT) sector. With the rising penetration of smartphones, renting a car through online platforms has become the most preferred choice. Besides this, increased travel and tourism activities have encouraged individuals to opt for car rental services, such as taxis and carpooling, for improved mobility and cost-effective traveling. The high usage rate of car rental services by daily commuters and office goers is also providing a positive outlook to the market. Besides this, governments of various countries are emphasizing on minimizing their vehicular emissions. Consequently, car rental services have emerged as one of the most economical modes of transportation.

Car Rental Market 2021-2026 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the global car rental market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • Avis Budget Group Inc. (NASDAQ: CAR)
  • Eco rent a car
  • Localiza (BVMF: RENT3)
  • Enterprise Holdings Inc.
  • Europcar (EPA: EUCAR)
  • Sixt SE (ETR: SIX2)
  • Carzonrent India Private Limited
  • Enterprise Rent-A-Car
  • The Hertz Corporation

 

Key Market Segmentation:

The report has segmented the global car rental market on the basis of booking, rental length, vehicle type, application, end-user and region.

Breakup by Booking:

  • Offline Booking
  • Online Booking

 

Breakup by Rental Length:

  • Short Term
  • Long Term

 

Breakup by Vehicle Type:

  • Luxury
  • Executive
  • Economy
  • SUVs
  • Others

 

Breakup by Application:

  • Leisure/Tourism
  • Business

 

Breakup by End-User:

  • Self-Driven
  • Chauffeur-Driven

 

Breakup by Region:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

 

Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/car-rental-market

 

Key Highlights of the Report:

  • Market Performance (2015-2020)
  • Market Outlook (2021-2026)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • The Impact of COVID-19 on the Global Market
  • Value Chain Analysis
  • Structure of the Global Market
  • Comprehensive mapping of the competitive landscape

 

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

 

Browse Related Reports:

Used Car Market Report: https://www.imarcgroup.com/used-car-market

North America Logistics Market Report: https://www.imarcgroup.com/north-america-logistics-market

Europe Business Travel Market Report: https://www.imarcgroup.com/europe-business-travel-market

Asia Pacific Business Travel Market Report: https://www.imarcgroup.com/asia-pacific-business-travel-market

Latin America Business Travel Market Report: https://www.imarcgroup.com/latin-america-business-travel-market

India Business Travel Market Report: https://www.imarcgroup.com/india-business-travel-market

United States Business Travel Market Report: https://www.imarcgroup.com/united-states-business-travel-market

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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