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

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DUBLIN – (COMMERCIAL THREAD)–The “Car Rental Company – Global Market Trajectory and Analysis” the report was 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

  • Main 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 rental car 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

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