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Global Car Rental Market: By Booking Type: Offline Access, Online Access; By Application Type: Leisure/Tourism, Business; By Vehicle Type: Luxury/Premium Cars, Economy/Budget Cars, SUVs, MUVs; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Car Rental Market Outlook

The global car rental market stood at USD 124,344.7 million in 2020 and is anticipated to reach USD 246,752.1 million by 2026, growing at a CAGR of 12.1% in the forecast period of 2022-2027.

 

Most tourists prefer the online reservation technique for a rental car. Booking online nowadays also serves a variety of purposes, such as, verifying the renter's documents, the information about the car, the ability to drop at and pick up from a certain location, e-signed contracts, cashless transaction, and much more. Online booking also enables vehicle booking from faraway places, without the need to be physically present at the site, which is propelling the industry forward.

 

Global Car Rental Market

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Market Segmentation

Through a car rental company one can rent automobiles for short periods of time through online or offline booking modes.

 

Global Car Rental Market By Application

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The car rental market can be categorised on the basis of segments like vehicle type, application, and booking type.

The industry can be divided on the basis of its vehicle type as luxury/premium cars, economy/budget cars, SUVs and MUVs.

The industry can be broadly categorised on the basis of its application type into:

  • Leisure/Tourism
  • Business

The industry can be divided on the basis of its booking type as offline access and online access.

The EMR report looks into the regional car rental markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.

 

Global Car Rental Market By Region

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Market Analysis

With increased levels of pollution and population, the car rental sector has experienced a dramatic transformation over the past few years, becoming one of the most prominent fleet transportation sectors. Manufacturers and customers depend on multiple cost-effective car rental systems, such as three-year leasing of vehicles from their owners and then renting them through app-based reservations. Furthermore, car rentals contribute significantly to reduce the amount of pollution by decreasing owned-vehicle volumetric sales. In addition, growth in online vehicle booking segment have become the preferred choice for renting, further aiding the car rental market growth. The global car rental market growth is driven primarily by the travel and tourism sector. In addition, increase in disposable incomes along with the enhanced road infrastructure, is fostering industry growth.

 

Competitive Landscape

The report presents a detailed analysis of the following key players in the global car rental market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Ace Rent-a-car    
  • Advantage Rent-a-car   
  • National Car Rental   
  • Avis Budget Group Inc. [CAR (NASDAQ)]    
  • Eco Rent a Car    
  • Enterprise Holdings Inc.      
  • Hertz Corp. [HRI (NYSE)]    
  • Global Cars
  • Localiza–Rent-a-car SA [RENT3 (BVMF)]
  • Europcar Group [EUCAR (EPA)]
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s five forces.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Booking Type, Application Type, Vehicle Type, Region
Breakup by Booking Type Offline Access, Online Access
Breakup by  Application Type Leisure/Tourism, Business
Breakup by Vehicle Type Luxury/Premium Cars, Economy/Budget Cars, SUVs, MUVs
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Ace Rent-a-car, Advantage Rent-a-car, National Car Rental, Avis Budget Group Inc.
[CAR (NASDAQ)], Eco Rent a Car, Enterprise Holdings Inc., Hertz Corp. [HRI (NYSE)],
Global Cars, Localiza–Rent-a-car SA [RENT3 (BVMF)], Europcar Group [EUCAR (EPA)], Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Car Rental Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Car Rental Historical Market (2017-2021) 
    8.3    Global Car Rental Market Forecast (2022-2027)
    8.4    Global Car Rental Market by Booking Type
        8.4.1    Offline Access
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Online Access
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
    8.5    Global Car Rental Market by Application Type
        8.5.1    Leisure/Tourism
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Business
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
    8.6    Global Car Rental Market by Vehicle Type
        8.6.1    Luxury/Premium Cars
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Economy/Budget Cars
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
        8.6.3    SUVs
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2017-2021)
            8.6.3.3    Forecast Trend (2022-2027)
        8.6.4    MUVs
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2017-2021)
            8.6.4.3    Forecast Trend (2022-2027)
    8.7    Global Car Rental Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    ACE Rent-a-Car Reservations, Inc.
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Advantage Rent-a-car
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    National Car Rental
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Avis Budget Group, Inc.
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Eco Rent a Car
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Enterprise Holdings Inc.
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Hertz Corp.
            12.2.7.1    Company Overview
            12.2.7.2    Product Portfolio
            12.2.7.3    Demographic Reach and Achievements
            12.2.7.4    Certifications
        12.2.8    Global Cars
            12.2.8.1    Company Overview
            12.2.8.2    Product Portfolio
            12.2.8.3    Demographic Reach and Achievements
            12.2.8.4    Certifications
        12.2.9    Localiza–Rent-a-car SA 
            12.2.9.1    Company Overview
            12.2.9.2    Product Portfolio
            12.2.9.3    Demographic Reach and Achievements
            12.2.9.4    Certifications
        12.2.10    Europcar Group
            12.2.10.1    Company Overview
            12.2.10.2    Product Portfolio
            12.2.10.3    Demographic Reach and Achievements
            12.2.10.4    Certifications
        12.2.11    Others
13    Industry Events and Developments


List of Key Figures and Tables

1.    Global Car Rental Market: Key Industry Highlights, 2017 and 2027
2.    Global Car Rental Historical Market: Breakup by Booking Type (USD Million), 2017-2021
3.    Global Car Rental Market Forecast: Breakup by Booking Type (USD Million), 2022-2027
4.    Global Car Rental Historical Market: Breakup by Application Type (USD Million), 2017-2021
5.    Global Car Rental Market Forecast: Breakup by Application Type (USD Million), 2022-2027
6.    Global Car Rental Historical Market: Breakup by Vehicle Type (USD Million), 2017-2021
7.    Global Car Rental Market Forecast: Breakup by Vehicle Type (USD Million), 2022-2027
8.    Global Car Rental Historical Market: Breakup by Region (USD Million), 2017-2021
9.    Global Car Rental Market Forecast: Breakup by Region (USD Million), 2022-2027
10.    North America Car Rental Historical Market: Breakup by Country (USD Million), 2017-2021
11.    North America Car Rental Market Forecast: Breakup by Country (USD Million), 2022-2027
12.    Europe Car Rental Historical Market: Breakup by Country (USD Million), 2017-2021
13.    Europe Car Rental Market Forecast: Breakup by Country (USD Million), 2022-2027
14.    Asia Pacific Car Rental Historical Market: Breakup by Country (USD Million), 2017-2021
15.    Asia Pacific Car Rental Market Forecast: Breakup by Country (USD Million), 2022-2027
16.    Latin America Car Rental Historical Market: Breakup by Country (USD Million), 2017-2021
17.    Latin America Car Rental Market Forecast: Breakup by Country (USD Million), 2022-2027
18.    Middle East and Africa Car Rental Historical Market: Breakup by Country (USD Million), 2017-2021
19.    Middle East and Africa Car Rental Market Forecast: Breakup by Country (USD Million), 2022-2027
20.    Global Car Rental Market Structure

Key Questions Answered in the Report

In 2020, the global car rental market attained a value of nearly USD 124,344.7 million.

The market is projected to grow at a CAGR of 12.1% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach USD 246,752.1 million by 2026.

The major industry drivers are rising population, growing urbanisation, and the increased levels of pollution and population.

The key trends in the market are growth in online vehicle booking segment, increase in disposable incomes along with the enhanced road infrastructure.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The booking types include offline access and online access.

Leisure/tourism is the dominant application segment in the industry.

The vehicle types can be divided into luxury/premium cars, economy/budget cars, SUVs, and MUVs.

The major players in the industry are Ace Rent-a-car, Advantage Rent-a-car, National Car Rental, Avis Budget Group Inc., Eco Rent a Car, Enterprise Holdings Inc., Hertz Corp. [HRI (NYSE)], Global Cars, Localiza–Rent-a-car SA [RENT3 (BVMF)], and Europcar Group [EUCAR (EPA)], among others.

Analyst Review

The global car rental market attained a value of USD 124,344.7 million in 2020, driven by the increased levels of pollution and population. Aided by the growth in online vehicle booking segment, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 12.1%. The market is projected to reach USD 246,752.1 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The booking types include offline access and online access. Based on its applications, the car rental industry can be segmented into leisure/tourism and business, with leisure/tourism accounting for the largest market share. The vehicle types can be divided into luxury/premium cars, economy/budget cars, SUVs, and MUVs. The major regional markets for car rental are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Ace Rent-a-car, Advantage Rent-a-car, National Car Rental, Avis Budget Group Inc., Eco Rent a Car, Enterprise Holdings Inc., Hertz Corp. [HRI (NYSE)], Global Cars, Localiza–Rent-a-car SA [RENT3 (BVMF)], and Europcar Group [EUCAR (EPA)], among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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