Code: IMR0001 | Automotive &Transportation | Sep-2021 | 121 Pages |
In
2021, the Global Car Rental Market’s size was valued at USD 103.15 billion and
is estimated to reach USD 141.18 billion by 2028 and is expected to be growing
at a CAGR of 4.6% throughout the forecast period. In this report, 2021 has been
taken as the base year while 2020 is the historical year. The forecast year for
the report is 2028 to approximate the size of the market for Car Rental Market.
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Market Research’s report on Car Rental studies the past and current
opportunities of growth and trends to get a clear picture of the growth
indicators of the market for the forecast period 2021 to 2028. The report also
offers the revenue generated by the Car Rental market considering 2020 as the
historical year, 2021 as the base year, and 2028 as the forecast year. The
report also consists of the compound annual growth rate (CAGR) for the Car
Rental market over the forecast period.
Report Overview of Car Rental Market
The Car Rental market report provides information
and statistics on market shares, size, restraining factors, and driving factors
for the forecast period 2021 to 2028. It also mentions the role of main market
players in the automotive industry. The report on Car Rental market evaluates
the value of the market report, keeping in mind the application and regional
segments, market share, and size while forecasting the market for each product
type and application of the Car Rental market in different segments of the
report. The research report also mentions some sections of the Car Rental market
including opportunities, growth, trend, size, demand, and technology used by
prominent players of the market. Then, it gives detailed profiles of the key
players as a part of the competitive landscape of the Car Rental market.
The study of the
report divides it into several sub-segments and represents the whole automotive
industry. An estimation of the revenue generated by the entire automotive
industry and its sub-segments are also provided in the report. It decides the
factors that affect the demand of the automotive industry rapidly, including
methods of development, growth networks, and the product model. The report also
points out the greatest prospects for the growth of the automotive market such
as forecasting the growth of the market, the launch of new goods, and analysis
of the product demand, purchase decisions, several economic factors that are
important to determine the trend of Car Rental market, and the attractiveness
of the market. The report on the Car Rental market will help in assisting the
stakeholders in identifying high-potential customers, such as distributors and
manufacturers.
Methodology of Car Rental Market
The
methods used for collecting information for the report involve 4 main
activities. These activities help in estimating the current size of the Car
Rental market. Thorough secondary research was conducted to collect information
on the Car Rental market, such as new technologies coming into the market, and
components connected with this market. Then the collected information was
validated with experts from the automotive industry across all the value chains
through primary researches. Both top-down and bottom-up approaches were used
for estimating the market size.
The
secondary research includes collecting data from sources such as government
publications such as country-level automotive associations and organizations,
World Bank, Eurostat, Organization for Economic Co-operation and Development
(OECD), and CDC; regulatory and corporate filings such as SEC filings, annual
reports, investor presentations, and business magazines, financial statements,
press releases, and research journals, free and paid automotive databases such
as Organization International des Constructer’s d’Automobiles (OICA), Marlines,
etc., and trade, business, and professional associations. The secondary data
collected was then analyzed to predict the overall size of the market which was
later validated with primary research.
Thorough
primary research was done after getting a clear picture of the Car Rental market
through secondary research. Many market experts were interviewed for the
primary research from both the supply-side players and demand-side players and
across four major regions, namely, Europe, North America, Asia Oceania, and the
Rest of the World. Apart from the interviews, primary data was collected
through mails, questionnaires, and telephonic interviews.
Growth Mapping of Car Rental Market
The main aim of the
Car Rental report is to give the map of the growth for the Car Rental market
that will help in providing the clients with the required information for the
formulation strategies to meet their respective business goals. The report also
provides deep knowledge of the Car Rental for the previous year as well as for
the forecast years and what the CAGR level of the market is going to be. This
report is a synopsis of what the market conditions are going to be while also
giving information regarding the market’s definition, classifications, applications,
and engagements are. This report also aims to analyze the Car Rental market’s
developments including the market improvement, market position, and others
which are usually done by the prominent players and brands of the automotive
industry. This report also consists of all the market drivers and restraints
which are obtained through SWOT analysis. The report also has the CAGR values
of the Car Rental market for the base years 2021, the historic year 2020, and
forecast years 2021-2028.
Regional Analysis of Car Rental Market
The Car
Rental market report provides a study for more than 20 countries and their
market players The report covers a regional and country-level analysis that
covers North America, South America, Europe, Asia Pacific (APAC), Africa, and
the Middle East. The market is deeply analyzed for each region, which helps in
identifying the market trends for each region, growth opportunities, and
restraining factors.
For
the forecast year 2021-2028, it has been estimated that North America will the
dominating market for Car Rental Market. This region is expected to see growth in the automotive
industry because of the increasing population, increase in per capita income,
and improvement in living standards. There has been an increase in demand for
comfort features in vehicles and fuel-efficient vehicles which accelerates the
growth of the Car Rental market. The weight reduction of vehicles and enhanced
energy efficiency is further driving the automotive industry. The other
factors which are driving the growth of the Car Rental market include the
development of marketing analytics tools and firmly established existing
players in the market. In addition to this, government agencies, companies,
third-party administrators, etc. are channelizing their efforts to make
customer-centric automotive products which will also contribute to the growth
of the Car Rental market in this region. Rising demand for vehicles and their
parts, increased investment by the government, new and advanced technology, and
machinery, along with the improved marketing tactics will likely cause the Car
Rental market to grow substantially.
The Asia Pacific market is
estimated to grow at the highest CAGR during the forecast period (2021-2028).
This growth is driven by the increasing research activities, growing demand for
vehicles and parts, and an increasing number of initiatives by market players
for expanding their presence in the APAC, and higher adoption of Car Rental in
several APAC countries. Improvements in GDP per capita and
infrastructure development have urbanized the region to a greater extent
turning rural areas into urban areas. The sudden surge in the demand has caused
the cities to fall into unsustainable consumption models. The top key players
in the Car Rental market are located in the region. China and India are expected to offer significant
growth opportunities for players operating in the Car Rental market, owing to
the growing support from government bodies, increasing demand for new vehicles
with special features, and the presence of less-stringent regulations and data
requirements (as compared to developed countries) in their respective
healthcare systems.
Competitive Landscape of Car Rental Market
The
report provides a competitive landscape on both the quantitative as well as
qualitative research of Car Rental market. The report also provides detailed
insights on the development methods used by the key market players. The report
offers deep research on the key market players and details on the
competitiveness of these players. The main business strategies used by these players
such as mergers and acquisitions (M&A), collaborations, affiliations, and
contracts are also and analyzed in the report. For each competitor, the report
studies their global presence, service offerings, competitors, and
specification. The main players covered by the study on the global Car Rental market
players are: Enterprise Rent-A-Car; The Hertz Corporation; Sixt; Europcar; Avis
Budget Group
The Report Provides Insights on The Following Pointers:
●
It gives a forecast analysis of
factors that are driving or restraining the development of the Car Rental market.
●
The report gives a seven-year
forecast value evaluated on the basis of the current market performance of the
automotive industry.
●
It helps in understanding the main
segments of the products and their future.
●
The report gives a deep analysis
of changing competition in the market which keeps you ahead of your
competitors.
●
The report gives the market
definition of the Car Rental market along with the analysis of different
factors influencing the market such as drivers, opportunities, and restraints.
The Report Answers Questions Such As:
● What is the potential opportunity for the Car Rental market?
● What are the major drivers, restraints, and opportunities of the Car
Rental market?
● What is the market share of the leading segments and sub-segments of
the Car Rental market in the forecast period (2021-2028)?
● How did the Car Rental market evolve?
● How each segment of the Car Rental market is expected to grow during
the forecast period?
● What is the expected revenue to be generated by each of the segments by
the end of 2028?
● What are the key development strategies implemented by the key players
to stand out in this Car Rental market?
● What is the preferred business model used for building Car Rental
Market?
● Which area of application is expected to be the highest revenue
generator in the Car Rental market during the forecast period?
● Which end-user segment is expected to be the highest revenue generator
in this industry during the forecast period?
●
What is the potential of Car
Rental market in the emerging countries during the forecast period?