Market Overview:
The global car rental services market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for on-demand mobility solutions and rising number of tourists and business travelers. In terms of type, the offline access segment is expected to hold the largest share in the global car rental services market during the forecast period. This can be attributed to factors such as ease of use and availability of cars in major cities across the world. However, with advancements in technology, mobile applications are becoming more popular among consumers for booking car rentals.
Product Definition:
car rental services are a way to get around town without having to rely on public transportation or your own car. You can rent a car for a day, a week, or even longer if you need it. Car rental services are important because they give people the freedom to move around without worrying about where they're going to park or how they're going to get there.
Offline Access:
Offline access is the physical key or card that allows the customer to enter a property without any additional security measures. The service has been around for decades and is still being used by many companies as their primary revenue generating strategy. In recent times, however, with the advent of technology and changing consumer preferences; this service has started facing challenges in terms of delivering value to both customers and management teams.
Mobile Application:
Mobile application is a software designed for mobile devices such as smartphones and tablets. It allows the user to access rental services from any place using internet. Mobile applications are widely used in the car rental services industry owing to its features such as online reservations, payment methods, vehicle details, and many more. The major factor that propels the growth of this market is increasing penetration of smartphone users globally which in turn increases demand for mobile applications significantly across the globe.
Application Insights:
On the basis of application, the global car rental services market has been segmented into intercity, intracity and others. The intercity segment dominated the market in 2017 and is expected to maintain its dominance over the forecast period. This can be attributed to growing demand for automobile rentals for business purposes or travel purposes across countries. Moreover, increasing number of airports where car rental services are available is also likely to contribute towards higher shareholding by this segment in future.
The intracity application segment is expected to witness significant growth over the forecast period owing to rising demand from consumers who have a preference for on-demand or short-term vehicle rentals within cities as well as nearby areas around them such as their workplace or residential complexes instead of opting for long-distance travel by road every now and then.
Regional Analysis:
The North American regional market dominated the global industry in 2017. The growth of the region can be attributed to increasing online and mobile car rental services. The Asia Pacific is expected to witness significant growth over the forecast period owing to increasing number of automobile manufacturers in countries, such as India, China, and Japan. Moreover, rising disposable income levels are anticipated to fuel demand for premium cars that require less maintenance and offer greater comfort compared with other vehicles in the same class. This trend is projected to further propel regional market growth over the next eight years.
The Latin American regional market also presents a wide scope for new investments from both offline & online car rental service providers due to high demand for cost-effective as well as luxury vehicle rentals on account of growing popularity of tourist destinations across Brazil (Sao Paulo), Argentina (Buenos Aires) & Chile ( Santiago).
Growth Factors:
- Increasing urbanization: The global population is increasingly moving to cities, and this is particularly true in developing countries. This trend is expected to continue, which will lead to increased demand for car rental services as people seek convenient and affordable transportation options within cities.
- Rising income levels: As incomes rise around the world, people have more money available to spend on discretionary items like car rental services. In addition, as more women enter the workforce, there is an increasing demand for car rental services that can provide safe and reliable transportation for both men and women.
- Improved infrastructure: Many developing countries are investing in new infrastructure projects that will make it easier and faster for people to travel around their cities. This improved infrastructure will benefit the car rental industry by making it easier for people to get where they need to go quickly and easily.
Scope Of The Report
Report Attributes
Report Details
Report Title
Car Rental Services Market Research Report
By Type
Offline Access, Mobile Application, Others
By Application
Intercity, Intracity, On-Airport, Others
By Companies
Enterprise, Hertz, Avis Budget, Sixt, Europcar, Localiza, CAR Inc., Movida, Unidas, Goldcar, eHi Car Services, Fox Rent A Car
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
201
Number of Tables & Figures
141
Customization Available
Yes, the report can be customized as per your need.
Global Car Rental Services Market Report Segments:
The global Car Rental Services market is segmented on the basis of:
Types
Offline Access, Mobile Application, Others
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
Intercity, Intracity, On-Airport, Others
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
- Sixt
- Europcar
- Localiza
- CAR Inc.
- Movida
- Unidas
- Goldcar
- eHi Car Services
- Fox Rent A Car
Highlights of The Car Rental Services 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:
- Offline Access
- Mobile Application
- Others
- By Application:
- Intercity
- Intracity
- On-Airport
- Others
- 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 Car Rental Services 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
Frequently Asked Questions?
Car rental services are a great way to get around when you're on vacation. You can rent a car from a variety of different companies, and you can choose from a variety of different types of cars.
Some of the key players operating in the car rental services market are Enterprise, Hertz, Avis Budget, Sixt, Europcar, Localiza, CAR Inc., Movida, Unidas, Goldcar, eHi Car Services, Fox Rent A Car.
The car rental services market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Car Rental Services Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Car Rental Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Car Rental Services Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Car Rental Services Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Car Rental Services Market Size & Forecast, 2020-2028
4.5.1 Car Rental Services Market Size and Y-o-Y Growth
4.5.2 Car Rental Services Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Offline Access
5.2.2 Mobile Application
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Intercity
6.2.2 Intracity
6.2.3 On-Airport
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Car Rental Services Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Car Rental Services Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Offline Access
9.6.2 Mobile Application
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Intercity
9.10.2 Intracity
9.10.3 On-Airport
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Offline Access
10.6.2 Mobile Application
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Intercity
10.10.2 Intracity
10.10.3 On-Airport
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Offline Access
11.6.2 Mobile Application
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Intercity
11.10.2 Intracity
11.10.3 On-Airport
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Offline Access
12.6.2 Mobile Application
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Intercity
12.10.2 Intracity
12.10.3 On-Airport
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Offline Access
13.6.2 Mobile Application
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Intercity
13.10.2 Intracity
13.10.3 On-Airport
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Car Rental Services Market: Competitive Dashboard
14.2 Global Car Rental Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Enterprise
14.3.2 Hertz
14.3.3 Avis Budget
14.3.4 Sixt
14.3.5 Europcar
14.3.6 Localiza
14.3.7 CAR Inc.
14.3.8 Movida
14.3.9 Unidas
14.3.10 Goldcar
14.3.11 eHi Car Services
14.3.12 Fox Rent A Car
