Sci-Tech

Global Car Rental Market is Expected to Garner $164,335 million By 2022 With a CAGR 11.6%

Car Rental Market
Press Release

The global car rental market was valued at $79,648 million in 2015, and is expected to reach $164,335 million by 2022, growing at a CAGR of 11.6% during the forecast period. The economical car segment is anticipated to dominate the market throughout the analysis period. North America accounted for approximately 40% share of the global market in 2015.

By the type of car, the car rental market is categorized into luxury car, executive car, economical car, sports utility vehicle (SUV), and multi-utility vehicle (MUV). The economical car segment accounted for the highest revenue in 2015 is anticipated to grow at a CAGR of 12.5%, owing to high rate of adoption of economy cars in the emerging economies of Asia-Pacific and LAMEA.

By rental category, the car rental market is befitted into on-airport and off-airport. The off-airport category is further divided into local usage, outstation, and others. In 2015, the off-airport rental category segment accounted for over 61% of the market share, and is anticipated to register a CAGR of 12.0%. This is attributed to the development of travel industry and rise in disposable income globally. The outstation off-airport rental category is anticipated to witness fastest growth, registering a CAGR of 12.8%, due to improvement in road infrastructure globally.

With growth in pollution level and population, the car rental industry has experienced a drastic transformation over the past few years, and is one of the most prominent industries in fleet transportation. Manufacturers and consumers rely on different car rental schemes, which are cost-effective. In addition, car rentals are majorly contributing to curb the pollution level of the atmosphere by reducing the volumetric sales of owned vehicles. Moreover, with increase in air traffic and growth in rise in trend of online booking in travel industry, car rentals are the preferred options to travel, as cars are the most economical and faster mode of transportation. These advantages are promoting the growth of the car rental industry at an exponential rate.

Get Sample Report for More Details @ https://www.alliedmarketresearch.com/request-sample/2073

Furthermore, North America accounted for the highest revenue in 2015, and is anticipated to grow at a CAGR of 8.8%, owing to the rise in disposable income of people in countries such as the U.S. and CanadaAsia-Pacific is projected to grow at the highest CAGR of 16.5% owing to high rate of adoption of economy and executive cars.

The key players operating in the market include Avis Budget Group, Inc., Carzonrent India Pvt Ltd., Enterprise Holdings Inc., Europcar, The Hertz Corporation, Sixt Rent a Car, Uber Technologies Inc., Localiza, Eco Rent a Car, Budget Rent a Car System, Inc., German Rent a Car, Tempest Car Hire, DTG Operations, Inc., and Alamo.

Key Benefits

  • The study provides an in-depth analysis of the global car rental market with current trends and future estimations to elucidate the imminent investment pockets.
  • It offers a quantitative analysis from 2014 to 2022, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
  • It also provides market estimation for 2014 and 2015 and Y-o-Y forecasts from 2016 to 2022, considering 2015 as base.

Inquire more about this report @ https://www.alliedmarketresearch.com/purchase-enquiry/2073

Car Rental Market Key Segments

By Type Of Car

  • Luxury Car
  • Executive Car
  • Economical Car
  • Sports Utility Vehicle (SUV)
  • Multi Utility Vehicle (MUV)

By Rental Category

  • On Airport
  • Off Airport
  • Local Usage
  • Outstation
  • Others

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa

5933 NE Win Sivers Drive

#205, Portland, OR 97220

United States

Toll Free: +1-800-792-5285

UK: +44-845-528-1300

Hong Kong: +852-301-84916

India (Pune): +91-20-66346060

Fax: +1?855?550-5975

[email protected]

Web: https://www.alliedmarketresearch.com

This post was originally published on Trading Herald

RSS news