Market Snapshot:
Car rental or leasing is a service provided by car rental agencies that rents or leases vehicles for fixed amount of time. Mostly, these services operate from airport or nearest locations. Service providers usually charge additional amount which they return once the service is over. Renting is a done for short duration while leasing can be extended to years with an option of purchasing the vehicle at the end of the lasing period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Market Drivers
- Growing Adoption of Advanced Digital Technologies in Car Rental Services
- Ability to Provide Cost-effective Solution
Market Trend
- Focus on Introducing Value-for-money Car Rental Services
- Shift From Brands to Class
Restraints
- Complex Booking & Pricing Management
- Driving Challenges with Overseas Travelers
Opportunities
Development of New Mobility Concept by Key Players, Growth in Tourism Industry and Improving Customer Service and Transparency
Car Rental and Leasing Market Segmentation:
Scope | Sub-Segments |
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Platform | Offline Access,Mobile Application,Others |
Location | Intercity,Intracity,On-Airport,Others |
Vendors Covered in the Study are:
Localiza-Rent a Car [Brazil], Eco Rent a Car [India], The Hertz [United States], Europcar [France], Al Futtaim [United Arab Emirates], GlobalCARS [Australia], Sixt [Germany], Avis Budget [United States] and Carzonrent [India]
The Global Car Rental and Leasing market is gaining huge competition due to involvement of United States and United Kingdom companies that constantly invest in research & development to meet market expectation with new innovation.
Industry Insights:
March 2018 - : Daimler Mobility Services acquired 25% stake in car2go Europe GmbH from joint venture partner Europcar Group. Car2go had its presence in Europe, North America and China.
Rules regarding renting or leasing a car varies from in different countries. Various regulatory bodies require car rental companies to reveal the total cost of renting or leasing a car post taxes and fees in their advertising and bookings. The New York City has mandated that when advertising, companies needed to provide the breakdown of additional fees and final estimated amount.
Analyst View
"Avis sales executive Lance Smith believes the future of car rental will be powered by smartphones. In a blog post written last year, he said: “In many cases, apps are already the lens through which we experience the brands we deal with and in future our every business interaction will be driven through smartphone technology. For us and our customers this means that the entire car rental experience will change. The old model of customers queuing for service at a car rental counter, then painstakingly selecti"
Key Target Audience
Car Rental and Leasing Service Providers, Government Agencies, Potential Investors, Research Institutes and Tourism Industry
What can be explored with Car Rental and Leasing study:
Where Car Rental and Leasing industry stands in scaling its end use implementations
What concrete benefits would result from scaled initiatives by Vendors
Where Vendors should focus their investments cycle
Key success factors and recommendations for upscaling future growth.
Target Market / Country and Key Business Segments
Available Customization:
List of players that can be included in the study on immediate basis are BT Fleet [United Kingdom], Free2Move Lease [France], Daimler Fleet Management [United Kingdom], Hitachi Capital Vehicle Solutions [United Kingdom], Daimler Mobility Services [Germany] and Zoomca [India].