Increase in trend of on-demand transportation services and low rate of car ownership among millennials have propelled the growth of the global car rental market. Rise in trend of on-demand transportation services and low rate of car ownership among millennials have boosted the growth of the global car rental market. However, low rate of Internet penetration in developing countries hampers the market growth. On the contrary, adoption of car rental management software is anticipated to open new opportunities in the coming years. By application, the commercial segment is anticipated to manifest the highest CAGR of The tie-up between the commercial organization and car rental services providers to provide lucrative offers to the consumers makes commercial the fastest segment in the application. However, the leisure segment held the largest share in , accounting for more than half of the market, due to rising urbanization, increase in fleet transportation and growing travel and tourism industry. The economical car held the largest share in , contributing to nearly one-third of the market. The market across North America held the largest share in , contributing to more than two-fifths of the total revenue.
Car Rental Market Surpass $187.5 Bn By 2026 | CAGR 13.7% – ARC Analysis
Carzonrent India Pvt. Companies will also save time and cost in terms of administrative and operational effort of manpower while engaging with unorganized vendors to improve overall customer experience. The USD 2. More details on www. The company was launched in the year with a short-term objective of offering a safe and reliable medium of travel to customers and a long-term vision of giving structure to the unorganized car rental sector.
The company today has its presence in 65 locations, 9 Airports, Major Railway Stations and prominent hotels and malls.
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The MarketWatch News Department was not involved in the creation of this content. The market report provides an analysis of the global Car Rental Market for the period , wherein to is the forecast period and is considered as the base year. The study comprises various entities inclusive of drivers, restraints and challenges, opportunities and trends in this market. The research report ensures the quality of the information, which is particularly driven from primary and secondary research which includes various government sources, authorized sites, company websites, annual reports, e-books, encyclopedias, news articles, review articles, and Meta-analyses among others.
Our study developed on sound historic and present information to validate the provided forecast scenario. The Car Rental Market research report provides a holistic view of the market along with the factors that drive, hamper, challenge, or provide opportunity. The report provides qualitative and quantitative data that helps in understanding historic, present, and future industry scenarios. Additionally, provides a detailed analysis of well-focused segments of the respective market.
The research report comprises major players operating in the global market along with the business strengths, product offerings, player positioning, financial overview that provides a competitive outlook.
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The published report global Car Rental market provides a holistic overview of the current market covering the current trends. The provided quantitative and qualitative data is based on the deeper analysis of the historical data and the current market situation that helps to provide an overview of the forecasted period. The global Car Rental market report provides deeper insights on the factors driving the global market along with the factors that are responsible to hamper the growth. In addition, the report provides the opportunities in the global Car Rental market that would help the competitors to increase the profit share.
The global Car Rental market report provides the quantitative information of the target segment that is covered in the report along with the regional data comparison.
Car Rental Market Surpass $ Bn By | CAGR % – ARC Capacity and Commercial Production Date of Global Car Rental Major.
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Car Rental Market is Projected to Touch a Valuation of US$290.07 Bn by 2024
Imagine skyscrapers and gorgeous attraction, imagine Kuala Lumpur. Being the capital Malaysia, Kuala Lumpur – also very fondly known as KL, is fully packed with sky-rising skyscrapers, huge shopping malls, exuberant parks, trendy night spots and the bustling street market definitely interest you to take a stop by and explore this city more. So if your thinking of connecting with the locals with Malaysia’s famous pastime which is shopping and eating, then why not hire a car. By doing so, you would be able to drive yourself around to the most well-known spots within KL.
Imagine, you don’t have to depend on cabs as it would be pricey and also not depending on your friends to take you around. And its a definite thing that anyone usually feels comfortable and convenient on driving around from one destination to another, as one can drive according to the pace of time.
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The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by increasing demand for rental cars due to rise in international tourism. In addition, need for optimum performance and reduction in emissions is anticipated to boost the growth of the global electric car rental market as well. Prominent vendors in global electric car rental market We provide a detailed analysis of around 25 vendors operating in the global electric car rental market, including some of the vendors such as Avis Budget Group Inc.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.
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Global Car Rental Market Reach over USD 187.5 bn by 2020-2026
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Wiederholt sehr freundliches Team vor Ort In Zeiten von Corona schwerer zu erreichen. In diesem Zuge h Ist ein Going on holiday in Germany in a hire car means boundless freedom and carefree driving pleasure. In a classic convertible you can drive directly from the car rental station to the most popular holiday destinations between Hamburg and Munich.
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This is mainly due to the presence of several international and domestic players in the market. The increasing dominance of giant players in the market is dragging the market towards consolidation, says Transparency Market Research TMR. 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. For instance, in March , Sixt SE, a prominent player in the car rental market launched a mobility app in order to facilitates customers with several other services and boost personalisation. In the same way, in December , The Hertz Corporation, incopated the use of a online platform called the Hertz Fast Lane in their servies.
This platform helps in carry out and speed up the entire vehicle rental process with the help of a biometric. On the basis of geography, North America is expected to dominate the global car rental market during the forecast period. This is mainly due to the presence of several veteran players in the region. The global car rental market is projected to garner a remarkable growth rate in the coming few years.
This is mainly due to the factors such as global upsurge in travel and tourism activities coupled with improving road infrastructure. Along with this, rise in disposable incomes, surge in leisure and business trips and increasing investments by the global players are some other factors expected to fuel the car rental market in the coming few years.
Car rentals are the car services offered by players to the common people for a particular time duration at an agreed amount.