Global Automotive Rental Market by Type (Leisure Leasing, Business Leasing), By Application (Airport, Off-Airport) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global automotive rental market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for rental cars from leisure travelers and business users. Additionally, the growing airport infrastructure and rising number of tourists are also propelling the growth of this market. However, factors such as stringent government regulations and high cost of ownership are restraining the growth of this market. On the basis of type, the global automotive rental market is segmented into leisure leasing and business leasing. Leisure leasing dominates this market with a share of more than 80%. This can be attributed to increased demand for rental cars from leisure travelers for short-term trips or holidays. Business leasing is expected to grow at a higher CAGR during the forecast period as it offers various benefits such as tax deductions, flexible lease terms, etc.



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Product Definition:

The definition of automotive rental is the leasing or renting of a motor vehicle for a period of time. The importance of automotive rental is that it provides an option for people who need transportation but do not have their own vehicle. It can also be helpful for people who are in town temporarily and need a car to get around.

Leisure Leasing:

Leisure leasing is a form of real estate investment trust or property rental where the lessor (landlord) allows the lessee (user) to use the land, buildings, and other facilities for recreational purposes with an option to buy them at a later date. The lessor makes money from rent paid by the lessee and also collects management fees from the lessee in addition to occupying costs.

Business Leasing:

Business leasing is a form of property lease where the lessor (lessee) sublets the use of an asset or a part of an asset to another party for a fixed or indeterminate period. In business leasing, the lessee generally has no rights to ownership in respect of leased assets and therefore cannot benefit from them in any way other than using them according to terms and conditions stipulated during business lease agreement.

Application Insights:

The airport application segment accounted for the largest revenue share of over 40% in 2017. The growth can be attributed to the growing air travel and rising number of airports across the globe. According to data published by International Air Transport Association (IATA), around 60 million passengers travelled through more than 38,000 airports globally in 2018 which is a rise of 4.1% from 2017. Furthermore, with increasing passenger traffic at these airports there has been a need for additional parking spaces which has resulted in increased demand for rental cars at these locations as they are too busy with work or personal matters to commute long distances from home or office thus opting for on-airport car rentals instead.

Airport leisure leasing is one of the most preferred forms of business leasing as it offers flexibility and convenience along with cost-effectiveness and ease of administration while protecting capital investments made by airlines.

Regional Analysis:

The Asia Pacific region accounted for the highest market share in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing disposable income, rising vehicle ownership, and growing automotive demand due to rapid urbanization. In addition, supportive government policies are anticipated to drive the regional market further. For instance, according to a white paper on Automotive Rental Market in India by International Finance Corporation (IFC), an investment arm of World Bank Group; these rental services offer new opportunities for car owners who would like greater flexibility in when they use their car rather than having it idle at home or office parking lot all day long. Moreover as per a recent study published by IBEF; short-term rentals have witnessed significant growth across major cities of India including Bangalore (71%), Hyderabad (70%) and Mumbai (65%).

Growth Factors:

Increasing demand for rental cars due to the increase in tourism and business travel.
The growth of the sharing economy, which has made it easier for people to rent cars on a short-term basis.
The increasing popularity of car-sharing services, which has made it easier for people to access rental cars without having to go through a traditional car rental agency.
The development of new technologies that make renting cars easier and more convenient (e.g., self-service kiosks, mobile apps).


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Scope Of The Report
Report Attributes
Report Details
Report Title
Automotive Rental Market Research Report
By Type
Leisure Leasing, Business Leasing
By Application
Airport, Off-Airport
By Companies
Enterprise, Hertz, Avis Budget, ALD Automotive, Arval, Sixt, Europcar, Localiza, Unidas, CAR Inc., Shouqi Group, Goldcar, Movida, Fox Rent A Car, eHi Car Services, U-Save, Yestock Car Rental
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
212
Number of Tables & Figures
149
Customization Available
Yes, the report can be customized as per your need.

Global Automotive Rental Market Report Segments:
The global Automotive Rental market is segmented on the basis of:
Types
Leisure Leasing, Business Leasing
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Airport, Off-Airport
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
Enterprise
Hertz
Avis Budget
ALD Automotive
Arval
Sixt
Europcar
Localiza
Unidas
CAR Inc.
Shouqi Group
Goldcar
Movida
Fox Rent A Car
eHi Car Services
U-Save
Yestock Car Rental



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Highlights of The Automotive Rental Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Leisure Leasing
Business Leasing
By Application:
Airport
Off-Airport
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Automotive Rental Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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