Global Tourism Vehicle Rental Market by Type (Mid-Level, Luxury, Other), By Application (Online, Offline) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global tourism vehicle rental market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X% during the forecast period. The market growth can be attributed to the increasing demand for luxury vehicles for tourism purposes and the growing online tourism industry. On the basis of type, the global tourism vehicle rental market has been segmented into mid-level, luxury, and other vehicles. The luxury segment is expected to account for a major share of the global tourism vehicle rental market during the forecast period owing to rising demand from high-end tourists. On the basis of application,the global Tourism Vehicle Rental Market has been segmented into online and offline segments.



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Product Definition:

Tourism Vehicle Rental is a service that provides rental vehicles to tourists visiting a destination. This service can be helpful in allowing tourists to explore the area they are visiting without having to rely on public transportation or taxi services. Additionally, renting a vehicle can often be more affordable than relying on other forms of transportation, especially for groups of people.

Mid-Level:

Mid-level is the level between budget and premium. It can be defined as a category of hotel between 2 star and 5 star hotels. The growth factor in this market is increasing demand for mid-level accommodation during tourism or business trips, especially from consumers who are visiting several cities within a short period.

Luxury:

Luxury is a value-added feature, which adds attractiveness and worth to the product or service. It can be defined as comfort, convenience or aesthetic features that provide greater satisfaction for the money paid. Luxury in tourism vehicle rental means providing vehicles with all the facilities that are expected to enhance customer’s traveling experience without compromising on safety and comfort.

Application Insights:

The online segment accounted for more than 70.0% of the global revenue share in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to an increase in online advertising campaigns by various companies, especially those operating in the tourism industry, which has resulted in attracting a large number of consumers towards their services.

Offline applications include travel agencies and hotels booking offices that book tours for tourists from different parts of the world. Offline application segment is expected to witness significant growth over the forecast period owing to increased spending on marketing activities by hotel chains and travel agents with an aim toward increasing their market share across various countries worldwide.  Increasing popularity among travelers from emerging economies such as China, India, Thailand & Singapore coupled with rising expenditure on marketing activities by hotel chains & travel agents are some factors anticipated to boost offline tourism demand globally over the coming years.

Regional Analysis:

Asia Pacific dominated the global market in 2017. The region is expected to continue its dominance over the forecast period as well, owing to growing middle-class population and increasing disposable income. Moreover, rising popularity of low-cost travel destinations such as Thailand and Malaysia among international tourists will have a positive impact on regional growth.

Europe is anticipated to be the fastest-growing regional market from 2018 to 2030 due to high demand for luxury vehicle rentals in countries such as Germany, U.K., Italy, France and Spain among others.

North America accounted for a significant share of global revenue in 2017 owing to high preference for mid-level vehicles amongst consumers within U.S.

Growth Factors:

Increasing disposable income of people: The growth in the tourism vehicle rental market is majorly attributed to the increasing disposable income of people across the globe. With increase in disposable income, people are preferring to spend on luxury items such as tourism vehicles, which is resulting in the growth of this market.
Proliferation of online booking platforms: Availability of online booking platforms has made it easier for customers to book tourism vehicles as per their convenience and requirements. This is another factor that is contributing significantly to the growth of this market.
Growing popularity of road trips: Road trips have gained immense popularity in recent years, owing to which a large number of people are now opting for tourism vehicle rentals instead traditional modes transportation such as trains or buses. This is further propelling the growth prospects for this market worldwide.


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Scope Of The Report
Report Attributes
Report Details
Report Title
Tourism Vehicle Rental Market Research Report
By Type
Mid-Level, Luxury, Other
By Application
Online, Offline
By Companies
Carzonrent, Easycar, Europcar, Hertz, Avis, Europe Luxury Car Hire, Kemwel, Sixt, Zoomcar, Autoeurope
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
207
Number of Tables & Figures
145
Customization Available
Yes, the report can be customized as per your need.

Global Tourism Vehicle Rental Market Report Segments:
The global Tourism Vehicle Rental market is segmented on the basis of:
Types
Mid-Level, Luxury, Other
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
Online, Offline
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:
Carzonrent
Easycar
Europcar
Hertz
Avis
Europe Luxury Car Hire
Kemwel
Sixt
Zoomcar
Autoeurope



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Highlights of The Tourism Vehicle 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:
Mid-Level
Luxury
Other
By Application:
Online
Offline
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 Tourism Vehicle 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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