Car Rental Market Trends 2023-2028, Global Size, Share and Industry Analysis

IMARC Group has recently released a new research study titled “Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Market Overview:

The global car rental market size reached US$ 79.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 95.7 Billion by 2028, exhibiting a growth rate (CAGR) of 3.1% during 2023-2028.

What is car rental?

Car rental refers to the facility of leasing automobiles temporarily for a predefined period via offline or online channels. These services mainly serve individuals and travelers who do not own private vehicles. Renting cars is a more cost-effective alternative than owning a vehicle as it offers low-cost traveling, freedom of movement, and enables the evasion of high ownership costs. Customers are given several vehicles to choose from, including cars, minivans, trucks, and even luxury automobiles.

In addition to this, the service providers also provide various other products, such as insurance compensation policies, entertainment systems, car damage repair, global positioning systems (GPS), and Wi-Fi networks for delivering enhanced convenience to users. As a result, car rental facilities find widespread applications in tourism and business sectors across the globe.

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What are the growth prospects and trends in the industry?

The expanding tourism and travel industry across the globe is among the primary factors driving the market. Besides this, the rising urban population with an inclination towards adventure and expedition is further augmenting the global car rental market growth. In line with this, the utilization of car rental services by individuals in the form of taxis and carpooling for improved mobility and cost-effective traveling is also catalyzing the global market.

The launch of several policies by the government bodies across developed and emerging economies to minimize vehicular emissions and promote these facilities among the most economical modes of transportation, owing to the increasing awareness toward environment conservation, is acting as another growth-inducing factor. Apart from this, the introduction of these services through websites and smartphone-based applications and the inflating expenditure capacities of the consumers are expected to bolster the market in the coming years.


Competitive Landscape With Key Players:

The competitive landscape of the car rental market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • Avis Budget Group, Inc.
  • Carzonrent India Private Limited
  • Eco rent a car
  • Sixt SE
  • Localiza
  • Enterprise Holdings, Inc.
  • Enterprise Rent-A-Car
  • Europcar
  • The Hertz Corporation

Key Market Segmentation:

The report has segmented the global car rental market based on booking type, rental length, vehicle type, application, end-user and region.

Breakup by Booking Type:

  • Offline Booking
  • Online Booking

Breakup by Rental Length:

  • Short Term
  • Long Term

Breakup by Vehicle Type:

  • Luxury
  • Executive
  • Economy
  • SUVs
  • Others

Breakup by Application:

  • Leisure/Tourism
  • Business

Breakup by End-User:

  • Self-Driven
  • Chauffeur-Driven

Breakup by Region:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Ask Analyst for Customized Report: https://www.imarcgroup.com/request?type=report&id=2036&flag=C

Key Highlights of the Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Table of Contents:

1   Preface
2   Scope and Methodology 
2.1    Objectives of the Study
2.2    Stakeholders
2.3    Data Sources
2.3.1    Primary Sources
2.3.2    Secondary Sources
2.4    Market Estimation
2.4.1    Bottom-Up Approach
2.4.2    Top-Down Approach
2.5    Forecasting Methodology
3   Executive Summary
4   Introduction
4.1    Overview
4.2    Key Industry Trends
5   Global Car Rental Market
5.1    Market Overview
5.2    Market Performance
5.3    Impact of COVID-19
5.4    Market Forecast
6   Market Breakup by Booking Type
6.1    Offline Booking
6.1.1 Market Trends
6.1.2 Market Forecast
6.2    Online Booking
6.2.1 Market Trends
6.2.2 Market Forecast
7   Market Breakup by Rental Length
7.1    Short Term
7.1.1 Market Trends
7.1.2 Market Forecast
7.2    Long Term
7.2.1 Market Trends
7.2.2 Market Forecast
8   Market Breakup by Vehicle Type
8.1    Luxury
8.1.1 Market Trends
8.1.2 Market Forecast
8.2    Executive
8.2.1 Market Trends
8.2.2 Market Forecast
8.3    Economy
8.3.1 Market Trends
8.3.2 Market Forecast
8.4    SUVs
8.4.1 Market Trends
8.4.2 Market Forecast
8.5    Others
8.5.1 Market Trends
8.5.2 Market Forecast
9   Market Breakup by Application
9.1    Leisure/Tourism
9.1.1 Market Trends
9.1.2 Market Forecast
9.2    Business
9.2.1 Market Trends
9.2.2 Market Forecast
10  Market Breakup by End-User
10.1    Self-Driven
10.1.1 Market Trends
10.1.2 Market Forecast
10.2    Chauffeur-Driven
10.2.1 Market Trends
10.2.2 Market Forecast
11  Market Breakup by Region
11.1    North America
11.1.1 United States
11.1.1.1 Market Trends
11.1.1.2 Market Forecast
11.1.2 Canada
11.1.2.1 Market Trends
11.1.2.2 Market Forecast
11.2    Asia Pacific
11.2.1 China
11.2.1.1 Market Trends
11.2.1.2 Market Forecast
11.2.2 Japan
11.2.2.1 Market Trends
11.2.2.2 Market Forecast
11.2.3 India
11.2.3.1 Market Trends
11.2.3.2 Market Forecast
11.2.4 South Korea
11.2.4.1 Market Trends
11.2.4.2 Market Forecast
11.2.5 Australia
11.2.5.1 Market Trends
11.2.5.2 Market Forecast
11.2.6 Indonesia
11.2.6.1 Market Trends
11.2.6.2 Market Forecast
11.2.7 Others
11.2.7.1 Market Trends
11.2.7.2 Market Forecast
11.3    Europe
11.3.1 Germany
11.3.1.1 Market Trends
11.3.1.2 Market Forecast
11.3.2 France
11.3.2.1 Market Trends
11.3.2.2 Market Forecast
11.3.3 United Kingdom
11.3.3.1 Market Trends
11.3.3.2 Market Forecast
11.3.4 Italy
11.3.4.1 Market Trends
11.3.4.2 Market Forecast
11.3.5 Spain
11.3.5.1 Market Trends
11.3.5.2 Market Forecast
11.3.6 Russia
11.3.6.1 Market Trends
11.3.6.2 Market Forecast
11.3.7 Others
11.3.7.1 Market Trends
11.3.7.2 Market Forecast
11.4    Latin America
11.4.1 Brazil
11.4.1.1 Market Trends
11.4.1.2 Market Forecast
11.4.2 Mexico
11.4.2.1 Market Trends
11.4.2.2 Market Forecast
11.4.3 Others
11.4.3.1 Market Trends
11.4.3.2 Market Forecast
11.5    Middle East and Africa
11.5.1 Market Trends
11.5.2 Market Breakup by Country
11.5.3 Market Forecast

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Media Contact:
Company Name: IMARC Group
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