The Car Rental Market Research Report published by DecisionDatabases.com provides industry analysis and evaluation of the current and prospective market size, share, trend, growth and forecast during the study period 2014–2021.
Car rental implies to cars taken on rent for some hours or days for travelling purposes. Tourism is an essential part of life for the modern society. Rental cars allow tourists or local people to easily get to their destination in their desired way and time. Rental cars provide facilities according to the needs and desires of consumers and the vendors of this business are continuously trying better ways to serve their customers. Rental car vendors in order to increase their market provide attractive services to their customers like pre-booking of cars, easy payment methods and easy cancellation without any charge.
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Global car rental market is segmented on the basis of vehicle type as MUVS, economy cars, SUVs, executive and luxury cars. Further, applications segment the global car rental market into air transport, local transport, outstation and others. Travel and tourism are ever growing markets which in turn are beneficial for the car rental market growth. Air transport is the major application segment which prominently boosts the growth of this market owing to the increased airway travel and domestic as well as international airports. People of higher society need privileged and leisure travel which provided by luxury and executive cars. This in turn is rapidly boosting the growth of these two vehicle segments and the global car rental market.
Adoption of technology and use of internet and mobile applications by vendors of car rental market in order to provide easy, desired and secure services to tourists and local travelers is significantly fueling the growth of this market. Moreover, rise in the number of business related travel is another factor empowering the growth of global car rental market. Increased interest of the younger aspirants of the modern society in travel and their passion of visiting different places is expected to open new market opportunities for the car rental market. In addition, changing lifestyles and disposable incomes of people in developing regions is expected to surge the growth of this market. Rising globalization coupled with rapid industrialization is expected to drive this market for the forecast.
Major player assessed in the report are :
- Eco Rent A Car
- Enterprise Rent-A-Car
- Avis Budget Group
- Six Rent A Car
- Hertz Corporation
Geographically, this market has been segmented into regions such as North America, Europe, Latin America, Asia Pacific and the Middle East & Africa. The study details country-level aspects based on each segment and gives estimates in terms of market size.
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SEGMENTATIONS IN REPORT:
1. Car Rental By Vehicle Type :
- Luxury Cars
- Executive Cars
- Economy Cars
2. Car Rental Market By Application :
- Local Usage
- Air Transport
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