Market Overview:
The global luxury car rental market is expected to grow at a CAGR of 6.5% during the forecast period 2018-2030. The market growth can be attributed to the increasing demand for luxury cars for business and leisure rentals. Additionally, the rising disposable income of consumers and growing tourism industry are also fuelling the growth of this market. On the basis of type, the global luxury car rental market is segmented into business rental and leisure rental. The business rental segment dominates this market owing to increased demand from corporate customers for short-term rentals. On the basis of application, airport accounted for majority share in 2017 and is expected to maintain its dominance during forecast period due to increase in number of air passengers globally.
Product Definition:
Luxury car rental is a service that provides people with access to high-end cars for a short period of time. The importance of luxury car rental lies in the fact that it allows people to experience some of the most luxurious vehicles on the market without having to purchase them outright. This can be a great way for people to test out different models and styles before they make a final purchase decision. Additionally, luxury car rental can be an excellent way for businesses or individuals who need to impress clients or guests to make a good impression.
Business Rental:
Business rental is a form of lease where the lessor (lessee) does not possess the property and the lessee (user) occupies it for a specific period. The lessor obtains an economic benefit by leasing out his property, while the lessee utilizes facilities for conducting business.
Leisure Rental:
A leisure rental is a type of accommodation where the owner (usually an individual) allows tourists or travelers to use their property for vacations, events, business trips or any other purpose. The main aim of this service is to generate income by allowing tourists access to private properties without the need for buying the property.
The global market has been witnessing strong growth over recent years.
Application Insights:
Airport rental accounted for the largest revenue share of over 80% in 2017. The increasing number of airports across the world has been a major factor in growing the market. According to aviation statistics, airport authorities recorded a total of 648 million passengers who flew worldwide and arrived or departed from an airport during 2017. Increasing air traffic is expected to drive demand for luxury car rentals at airports globally.
The off-airport application segment is projected to witness significant growth over the forecast period owing to rising consumer preference towards vehicle rentals that offer flexibility and convenience while traveling away from home or business destinations, as they provide access to more than one location within minutes without having any physical contact with vehicles involved in accidents on blind turns or narrow lanes where visibility may be reduced due to fog, rainwater etcetera making it difficult for drivers using conventional vehicles resulting in increased adoption of off-airport rental services globally which will have a positive impact on industry growth over the forecast period.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. This growth can be attributed to increasing disposable income, especially among the middle-class population of developing countries such as India and China. Moreover, rising demand for luxury car rental services owing to an increase in travel options has led to a subsequent rise in demand for these services across this region.
The Asia Pacific regional market is characterized by high economic growth along with increasing per capita income levels across emerging economies such as India and China. These factors have resulted in increased spending on leisure activities by consumers of this region, thereby driving industry growth over the forecast period. The Middle East & Africa (MEA) regional market also presents significant opportunities due to growing disposable incomes coupled with high tourism activity across countries including UAE, Saudi Arabia and Egypt among others; thus leading towards a subsequent rise in demand for luxury car rental services within this region over the next eight years or so (until 2030).
Growth Factors:
- Increasing disposable income of the population: The luxury car rental market is expected to grow as the disposable income of the population increases. This is because people would want to use their increased disposable income for luxury items such as renting a luxury car.
- Rising number of tourists: The number of tourists is also expected to rise, which will lead to an increase in demand for luxury cars for rent. This is because tourists often prefer renting luxurious cars than using public transportation or taking taxis.
- Proliferation of online platforms: There has been a proliferation of online platforms that offer services such as booking and renting cars, which has made it easier for people to access these services and has led to an increase in demand for them.
- Improved infrastructure: The development of better infrastructure, such as airports and highways, has made it easier and faster for people to travel around different parts of the country or world, thereby increasing demand for luxury car rentals. 5) Growing popularity of experiential travel: There has been a growing trend towards experiential travel, where people are looking more for unique experiences rather than just visiting tourist destinations. This trend is likely to benefit the luxury car rental market since it offers unique experiences that can be enjoyed while travelling
Scope Of The Report
Report Attributes
Report Details
Report Title
Luxury Car Rental Market Research Report
By Type
Business Rental, Leisure Rental
By Application
Airport, Off-airport
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
244
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Luxury Car Rental Market Report Segments:
The global Luxury Car Rental market is segmented on the basis of:
Types
Business Rental, Leisure Rental
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
- Sixt
- Europcar
- Localiza
- CAR Inc.
- Movida
- Unidas
- Goldcar
- eHi Car Services
- Fox Rent A Car
Highlights of The Luxury Car 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:
- Business Rental
- Leisure Rental
- 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 Luxury Car 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
Frequently Asked Questions?
Luxury car rental is a type of car rental in which the customer can choose from a wide variety of high-end cars. These cars may be new or used, and they may be available for short-term or long-term rentals. Some luxury car rental companies also offer chauffeured services, which allow the customer to have a personal driver accompany them during their stay.
Some of the key players operating in the luxury car rental market are Enterprise, Hertz, Avis Budget, Sixt, Europcar, Localiza, CAR Inc., Movida, Unidas, Goldcar, eHi Car Services, Fox Rent A Car.
The luxury car rental market is expected to register a CAGR of 6.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Luxury Car Rental Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Luxury Car Rental Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Luxury Car Rental Market - Supply Chain
4.5. Global Luxury Car Rental Market Forecast
4.5.1. Luxury Car Rental Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Luxury Car Rental Market Size (000 Units) and Y-o-Y Growth
4.5.3. Luxury Car Rental Market Absolute $ Opportunity
5. Global Luxury Car Rental Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Luxury Car Rental Market Size and Volume Forecast by Type
5.3.1. Business Rental
5.3.2. Leisure Rental
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Luxury Car Rental Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Luxury Car Rental Market Size and Volume Forecast by Application
6.3.1. Airport
6.3.2. Off-airport
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Luxury Car Rental Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Luxury Car Rental Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Luxury Car Rental Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Luxury Car Rental Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Luxury Car Rental Demand Share Forecast, 2019-2029
9. North America Luxury Car Rental Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Luxury Car Rental Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Luxury Car Rental Market Size and Volume Forecast by Application
9.4.1. Airport
9.4.2. Off-airport
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Luxury Car Rental Market Size and Volume Forecast by Type
9.7.1. Business Rental
9.7.2. Leisure Rental
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Luxury Car Rental Demand Share Forecast, 2019-2029
10. Latin America Luxury Car Rental Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Luxury Car Rental Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Luxury Car Rental Market Size and Volume Forecast by Application
10.4.1. Airport
10.4.2. Off-airport
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Luxury Car Rental Market Size and Volume Forecast by Type
10.7.1. Business Rental
10.7.2. Leisure Rental
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Luxury Car Rental Demand Share Forecast, 2019-2029
11. Europe Luxury Car Rental Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Luxury Car Rental Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Luxury Car Rental Market Size and Volume Forecast by Application
11.4.1. Airport
11.4.2. Off-airport
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Luxury Car Rental Market Size and Volume Forecast by Type
11.7.1. Business Rental
11.7.2. Leisure Rental
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potentil Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Luxury Car Rental Demand Share, 2019-2029
12. Asia Pacific Luxury Car Rental Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Luxury Car Rental Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Luxury Car Rental Market Size and Volume Forecast by Application
12.4.1. Airport
12.4.2. Off-airport
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Luxury Car Rental Market Size and Volume Forecast by Type
12.7.1. Business Rental
12.7.2. Leisure Rental
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Luxury Car Rental Demand Share, 2019-2029
13. Middle East & Africa Luxury Car Rental Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Luxury Car Rental Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Luxury Car Rental Market Size and Volume Forecast by Application
13.4.1. Airport
13.4.2. Off-airport
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Luxury Car Rental Market Size and Volume Forecast by Type
13.7.1. Business Rental
13.7.2. Leisure Rental
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Luxury Car Rental Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Luxury Car Rental Market: Market Share Analysis
14.2. Luxury Car Rental Distributors and Customers
14.3. Luxury Car Rental Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Enterprise
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Hertz
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Avis Budget
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Sixt
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Europcar
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Localiza
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. CAR Inc.
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Movida
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Unidas
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Goldcar
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. eHi Car Services
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Fox Rent A Car
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
