
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) –
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Avis Budget Group, Inc.
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Company Holdings, Inc.
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Europcar Mobility Group
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Rent-A-Wreck of America, Inc.
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Sixt SA
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The Hertz company
Main topics covered:
I. METHODOLOGY
II. ABSTRACT
1. MARKET OVERVIEW
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Overview of the influencer market
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Global market trajectories
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As the Covid-19 pandemic decimates demand, the car rental market is expected to suffer huge losses in 2020
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Beaten global travel and tourism industry robs car rental companies of all hope
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An introduction to the car rental business
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Evolution of the Rent-A-Car concept over the years
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Fleet Ownership Models: A Review
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Classification of car rental companies by location and industry
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Car rental company by location
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Car rental company by sector
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Car rental business: current market scenario and outlook
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Developed regions: main contributors to income
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High growth opportunities in developing regions
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COVID-19 pandemic is expected to dampen economic growth in all regions, while inducing weakness in the car rental sector
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COMPETITIVE SCENARIO
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Car rental market: a diverse playing field
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Top car rental companies in regional markets
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Focus on innovative strategies
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Personalized offers and specialized services
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Subscription packages: the new marketing approach
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Price matching systems to assure customers
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End-to-end customer support remains a major focus area
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Mergers and Acquisitions (M&A) Gather Steam
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Recent market activity
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Car rental companies turn to shared mobility service
2. FOCUS ON CERTAIN PLAYERS
3. MARKET TRENDS AND FACTORS
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Technological innovations to spearhead growth in the post-Covid environment
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Automation intervenes to increase performance of the rental car business
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IoT has positive ramifications for automating rental cars
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AI identified as the new transformative vehicle
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Convenient reservations and innovative payment options
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Online booking takes car rentals to higher ground
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Smartphones and mobile apps are expanding the reach and scope of car rental business
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Growing implementation of GPS and telematics
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Cloud-based car rental software: the latest ‘tech’ innovation
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Medical tourism, education abroad and major sporting events: among the main drivers of demand
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Top medical tourism destinations by region
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Select the most popular sporting events in the world
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Young travelers will provide traction for rental car companies
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Concerns remain high over revival of luxury car rental market
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Problems and challenges
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Rise of carpooling poses biggest challenge to traditional car rental market
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Peer-to-peer carpooling gives a boost to carsharing volumes
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Carsharing attracts new groups of companies
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Car manufacturers
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Electricity companies
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Micromobility: another rapidly emerging âmuscularâ competitor
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Concerns about hidden and additional costs among cost-conscious and cost-conscious consumers
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A note on any additional charges levied on top of the base rental fee
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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