Global Car Rental Industry Through 2027 – Young Travelers Will Provide Traction For Car Rental Companies – ResearchAndMarkets.com

DUBLIN – (COMMERCIAL THREAD) – “Car Rental Company – Global Market Trajectory and Analysis” report has been added to ResearchAndMarkets.com offer.

Amid the COVID-19 crisis, the global car rental market, estimated at US $ 69.6 billion in 2020, is expected to reach a revised size of US $ 89.6 billion by 2027, with a CAGR of 3.7% over the period 2020-2027.

The airport, one of the segments analyzed in the report, is expected to register a CAGR of 2.8% and reach $ 35.3 billion by the end of the analysis period. After an initial analysis of the business implications of the pandemic and its induced economic crisis, the growth of the non-airport segment is readjusted to a revised CAGR of 4.3% for the next 7-year period.

The US market is estimated at $ 26.9 billion, while China is expected to grow at 8% CAGR

The car rental business market in the United States is estimated at US $ 26.9 billion in 2020. China, the world’s second-largest economy, is expected to reach a projected market size of US $ 12.2 billion of by 2027, with a CAGR of 8% over the analysis period 2020 to 2027.

Other notable geographic markets include Japan and Canada, each forecasting growth of 2.6% and 3% respectively over the period 2020-2027. In Europe, Germany is expected to grow by around 1.7% CAGR.

Selected Competitors (Total 131 featured) –

• Avis Budget Group, Inc.

• Company Holdings, Inc.

• Europcar Mobility Group

• Rent-A-Wreck of America, Inc.

• Sixt SA

• The Hertz company

Main topics covered:

I. METHODOLOGY

II. ABSTRACT

1. MARKET OVERVIEW

• Overview of the influencer market

• Global market trajectories

• As the Covid-19 pandemic decimates demand, the car rental market is expected to suffer huge losses in 2020

• Beaten global travel and tourism industry robs car rental companies of all hope

• An introduction to the car rental business

• Evolution of the Rent-A-Car concept over the years

• Fleet Ownership Models: A Review

• Classification of car rental companies by location and industry

• Car rental company by location

• Car rental company by sector

• Car rental business: current market scenario and outlook

• Developed regions: main contributors to income

• High growth opportunities in developing regions

• COVID-19 pandemic is expected to dampen economic growth in all regions, while inducing weakness in the car rental sector

• COMPETITIVE SCENARIO

• Car rental market: a diverse playing field

• Top car rental companies in regional markets

• Focus on innovative strategies

• Personalized offers and specialized services

• Subscription packages: the new marketing approach

• Price matching systems to assure customers

• End-to-end customer support remains a major focus area

• Mergers and Acquisitions (M&A) Gather Steam

• Recent market activity

• Car rental companies turn to shared mobility service

2. FOCUS ON CERTAIN PLAYERS

3. MARKET TRENDS AND FACTORS

• Technological innovations to spearhead growth in the post-Covid environment

• Automation intervenes to increase performance of the rental car business

• IoT has positive ramifications for automating rental cars

• AI identified as the new transformative vehicle

• Convenient reservations and innovative payment options

• Online booking takes car rentals to higher ground

• Smartphones and mobile apps are expanding the reach and scope of car rental business

• Growing implementation of GPS and telematics

• Cloud-based car rental software: the latest ‘tech’ innovation

• Medical tourism, education abroad and major sporting events: among the main drivers of demand

• Top medical tourism destinations by region

• Select the most popular sporting events in the world

• Young travelers will provide traction for rental car companies

• Concerns remain high over revival of luxury car rental market

• Problems and challenges

• Rise of carpooling poses biggest challenge to traditional car rental market

• Peer-to-peer carpooling gives a boost to carsharing volumes

• Carsharing attracts new groups of companies

• Car manufacturers

• Electricity companies

• Micromobility: another rapidly emerging “muscular” competitor

• Concerns about hidden and additional costs among cost-conscious and cost-conscious consumers

• A note on any additional charges levied on top of the base rental fee

• Growing role of videoconferencing and digital technologies in business communication

4. WORLD MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETETION

For more information on this report, visit https://www.researchandmarkets.com/r/5ccc2u