The Global Car Rental Market is expected to grow at a CAGR of around 7% during the forecast period, i.e., 2023-28. MarkNtel Advisors’ recently published versions of the study on the Global Car Rental Industry (2023-2028) have been closely monitored. The factual data related to it has been intensively crafted, conducting primary and other market research processes & strategies.
Essential Parameters
- Timeframe and Metrics
- Historical Period: 2018-21
- Base Year: 2022
- Forecast Years: 2023-2028
- Units: USD Million/Billion
- Our goal is to offer clients with relevant and up-to-date information. To achieve this, our skilled analysts and researchers conduct thorough studies on the industry.
- Before creating a roadmap or checklist for the research report, we seek to understand the client’s perspective and objectives.
- The figures in our reports are tailored with input from industry experts, ensuring our reports are comprehensive solutions for clients.
- We use both primary and secondary research approaches to gather unbiased and comprehensive market information.
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Global Car Rental Market Key Drivers:
Expansion of Global Tourism to Augment the Market Growth – Tourism is a rapidly growing industry, especially in countries like China, the UAE, France, etc., and this has been a major driver for the Car Rental market across the globe. According to World Travel and Tourism Council, the growth rate of the global travel & tourism sector outpaced the growth of the global economy for nine consecutive years prior to the COVID-19 pandemic. During the pandemic, the industry witnessed a downfall of 50.4%, and later on, it recovered by 21.7% in 2021. As more individuals travel globally, they seek convenient means of transportation, owing to which they opt for these services.
Analyzing the Segmentations for the Global Car Rental Market
Knowing the fragmentation of the market makes one understand the versatility & nature of the industry in a very detailed and informed way. This section of the research report talks about how every segmentation plays a role in enhancing the market share & size. Read further to get familiar with the market segmentations:
By Booking Mode
-Offline
-Online
By Application
-Leisure
-Business
By Vehicle Type
-Luxury
-Economy Cars
-Executive Cars
-Sports Utility Vehicles (SUVs)
-Multi Utility Vehicles (MUVs)
By Rental Category
-Local
-Airport
-Outstation
By Driver Type
-Self-Driving
-Chauffeur
By Rental Duration
-Short Term
-Long Term
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Exploring the Geographical Landscape of the Global Car Rental Industry
Our skilled researchers and analysts provide a detailed overview of each region or country, to help stakeholders understand the market status in these areas. They are:
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific.
Do You Know Who are the Leading Companies in the Global Car Rental Market?
Key competitors are the major role-players of any market, working to innovating & expanding the industry landscape. Look below to know about the Global Car Rental Market companies:
-Avis Budget Group
-Sixt SE
-Enterprise Holdings (Alamo)
-Hertz Corp.
-Europcar
-Localiza
-Carzonrent India Pvt. Ltd. (CIPL)
-ZoomCar, Inc.
-Dollar Rent a Car
-Green Motion
-Buchbinder
-Others.
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Key Questions Addressed in the Global Car Rental Market Research Report:
- What is the estimated size, share, and CAGR of the Global Car Rental Market in the forecast period?
- What are the key trends projected to impact the Global Car Rental Market during 2023-2028?
- What are the different segments & sub-segments considered in the Global Car Rental Market research study?
- Who are the key stakeholders and players participating in the Global Car Rental Market?
- What are the major aspects creating opportunistic arena for the Global Car Rental Market?
- What would be the demand for different types of products/services in the Global Car Rental Market through 2028?
- What all factors would create challenge for the Global Car Rental Industry growth?
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