Market Snapshot:
Car rentals are termed as car services which are offered by the players to common people for a particular duration of time at a particular agreed amount. Some of the factors like the integration of advanced technologies like GPS & digital transaction, and real-time monitoring, are playing a crucial role in the growth of the car rental services market. Various travelers across the globe demanding high quality and travel services which are reliable for their tours. Some of the leading car rental service providers are giving quality services and promoting their brands at the airports and this is helping customers for adopting their services. Growing demand for car sharing, an increase in the number of business travelers, and growth of megacities are some of the reasons that is leading to a huge growth in the car rental service industry.
Highlights from Car Rental Services Market Study
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key Manufacturers profiled in the report are Enterprise Holdings (United States), Localiza - Rent a Car (Brazil), Eco Rent a Car (India), The Hertz Corporation (United States), Europcar (France), Al Futtaim (United Arab Emirates), GlobalCARS (Australia), Sixt (Germany), Avis Budget (United States) and Uber Technologies Inc. (United States). Additionally, other players that are part of this comprehensive study are Budget Rent A Car System Inc., German Rent A Car, Tempest Car Hire, DTG Operations, Inc. and Alamo.
Geographic Breakdown and Segment Analysis
The Global Car Rental Services market presents a comprehensive analysis of the Car Rental Services market by product type (In-State Service and Out of States Service), by end-user/application (Intercity, Intracity, On-Airport and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Car Rental Services industry. Investors and Manufacturers can easily understand the inherent opportunities and challenges for their products in the geographical region of interest.
For instance, while the holds majority of market share of the Car Rental Services market
Analyst at AMA have segmented the market study of Global Car Rental Services market by Type, Application and Region.
Car Rental Services Market Dynamics:
Attributes | Details |
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Growth Drivers | - Upsurge in travel and tourism activities coupled with improving road infrastructure
- Rise in disposable incomes, surge in leisure and business trips and increasing investments by the global players
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Influencing Trends | - Integration of advanced technologies such as real-time monitoring, GPS and digital transaction
- Leading companies are adopting green car rentals
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Restraints | - Stringent governmental regulation towards the vehicle emission
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Gaps & Opportunities | - Penetration of information technology in the car rental industry for simpler, reliable, easier, and safer reservations
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Sixt SE, a prominent player in the car rental market launched a mobility app in order to facilitate customers with several other services and boost personalization. and The Hertz Corporation incorporated the use of an online platform called the Hertz Fast Lane in their services. This platform helps in carry out and speed up the entire vehicle rental process with the help of a biometric.
The players in the market are primarily focusing towards enhancing their services so as to improve their customer base and gain profitability in the market. Along with this, players are focusing towards acquisitions and mergers, business expansion and innovation to strengthen their market share
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries