Growth In The Global Leisure And Corporate Travelers is expected to impact positively on Car Rental Market Growth Till 2024
“The car rental market size was valued at USD 72.74 billion in 2015. The industry is primarily driven by the growth as well as expansion of the global travel and tourism industry.�
The global Car Rental Market is expected to witness a substantial growth over the forecast period, reaching USD 119.56 billion by 2024, according to a new report by Grand View Research, Inc. The industry is primarily driven by the growth as well as expansion of the global travel and tourism industry. There has been a significant increase in the number of business and leisure trips worldwide over the past few years. Access Full Research Report on Global Car Rental Market: http://www.grandviewresearch.com/industry-analysis/car-rental-market-analysismarket The advent of online rental portals has helped shape the dynamics of the car rental industry. Growing usage of smartphones and tablets has helped customers to book and reserve cars from anywhere at any point of time. Major players, such as Enterprise RentA-Car and Avis Budget Group, are now focusing on developing smartphone applications and optimizing their customer-friendly websites to facilitate quick and convenient bookings.
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However, compliance with stringent vehicle emission regulations is expected to challenge the demand for these services across the world. In addition to this, the instability in crudeoil prices and growing demand for publictransportation are presumed to challenge the growth to some degree over the forecast period. Further key findings from the study suggest:
An emerging trend in the travel and tourism industry which is gaining immense popularity is the evolution of “Bleisure”, which refers to a combination of leisure travel with business trips. The growth in this trend is presumed to propel the demand for car rentals among businesses as well as leisure travelers.
Executive cars are expected to witness a considerable growth with an estimated CAGR of close to 7% from 2016 to 2024. Swift globalization culminating into increased business trips across the globe is the primary factor propelling the growth of these cars in the near future.
In terms of application, airport transport dominated the overall industry share in 2015 and is presumed to retain its dominance over the next eight years. Rapid globalization has resulted in a significant increase in the number of air travelers across the globe, which, in turn, has bolstered the growth prospects of the industry.
The Asia Pacific market was valued at over USD 12 billion in 2015 and is presumed to witness a substantial growth over the forecast period. The significant regional growth prospects can be attributed to the rising economic development, enhanced road and infrastructure facilities, and growth in tourism over the forecast period.
Grand View Research has segmented the Car Rental Market on the basis of vehicle type, application, and region. Read Our Blogs on Reports from this category By Grand View Research: http://www.grandviewresearch.com/blogs/technology Table of Content of Global Car Rental Market Research Report: Chapter 1 Methodology and Scope 1.1 Research Methodology 1.2 Research Scope & Assumptions
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1.3 List of Data Sources Chapter 2 Executive Summary Chapter 3 Market Snapshot 3.1 Car Rental - Industry snapshot & key buying criteria, 2013 - 2024 Chapter 4 Industry Outlook 4.1 Market segmentation & scope 4.2 Car rental market size and growth prospects 4.2.1 Car rental market - A perspective 4.3 Car rental - Value chain analysis 4.3.1 Car rental - Supply chain analysis 4.4 Car rental market dynamics 4.4.1 Market Driver Analysis 4.4.1.1 Growth in the global leisure and corporate travelers 4.4.1.2 Increase in the number of mobile and Internet users worldwide 4.4.1.3 Globalization and increase in the global air travel 4.4.2 Market restraint analysis 4.4.2.1 Introduction of and compliance with stringent emission standards 4.4.2.2 Growth in the low-cost public transportation 4.4.2.3 Volatility in the crude oil prices 4.5 Industry Analysis - Porter’s 4.6 Car rental- Key company analysis, 2015 4.6.1 Key company analysis, 2015 4.7 Car rental - PESTEL analysis 4.8 Car rental - Market trends 4.8.1 Intermediaries
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4.8.2 Value segment 4.8.3 Rental process improvements 4.8.4 Alternative service providers 4.8.5 Operating models 4.9 Perils in the car rental market 4.9.1 Pricing & consumer perception 4.9.2 Losing potential customers &higher distribution costs 4.9.3 Minimal loyalty for brands 4.9.4 Retention failure 4.9.5 Higher cost of customer acquisition Chapter 5 Market Categorization 1: Vehicle Type Estimates & Trend Analysis 5.1 Car rental market: Vehicle-type movement analysis 5.1.1 Luxury cars 5.1.2 Executive cars 5.1.3 Economy cars 5.1.4 Sports Utility Vehicles (SUVs) 5.1.5 Multi Utility Vehicles (MUVs) Chapter 6 Market Categorization 2: Application Estimates & Trend Analysis 6.1 Car rental market: Application movement analysis 6.1.1 On-airport car rental 6.1.2 Off-airport car rental 6.1.2.1 Local usage 6.1.2.2 Outstation 6.1.2.3 Others Chapter 7 Market Categorization 3: Regional Estimates & Trend Analysis 7.1 Car rental market share by region, 2015 & 2024 7.2 North America
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7.2.1 U.S. 7.3 Europe 7.3.1 France 7.3.2 Germany 7.3.3 UK 7.4 Asia Pacific 7.4.1 Japan 7.4.2 Korea 7.4.3 China 7.4.4 India 7.5 South America 7.6 Middle East and Africa (MEA) Chapter 8 Competitive Landscape 8.1 Al-Futtaim Vehicle Rentals Company LLC 8.1.1 Company Overview 8.1.2 Financial Performance 8.1.3 Product Benchmarking 8.1.4 Strategic Initiatives 8.2 Avis Budget Group, Inc. 8.2.1 Company Overview 8.2.2 Financial Performance 8.2.3 Product Benchmarking 8.2.4 Strategic Initiatives 8.3 Carzonrent India Private Limited (CIPL) 8.3.1 Company Overview 8.3.2 Financial Performance 8.3.3 Product Benchmarking
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8.3.4 Strategic Initiatives 8.4 Eco Rent A Car 8.4.1 Company Overview 8.4.2 Financial Performance 8.4.3 Product Benchmarking 8.4.4 Strategic Initiatives 8.5 Enterprise Rent-A-Car 8.5.1 Company Overview 8.5.2 Financial Performance 8.5.3 Product Benchmarking 8.5.4 Strategic Initiatives 8.6 Europcar 8.6.1 Company Overview 8.6.2 Financial Performance 8.6.3 Product Benchmarking 8.6.4 Strategic Initiatives 8.7 Localiza Rent a Car SA 8.7.1 Company Overview 8.7.2 Financial Performance 8.7.3 Product Benchmarking 8.7.4 Strategic Initiatives 8.8 The Hertz Corporation 8.8.1 Company Overview 8.8.2 Financial Performance 8.8.3 Product Benchmarking 8.8.4 Strategic Initiatives 8.9 Sixt SE
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8.9.1 Company Overview 8.9.2 Financial Performance 8.9.3 Product Benchmarking 8.9.4 Strategic Initiatives About Grand View Research, Inc.:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc Phone: 1-415- 349-0058 Toll Free: 1-888- 202-9519 Email: sales@grandviewresearch.com For More Information: http://www.grandviewresearch.com
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