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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); 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.
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Properties and Applications
Through a car rental company one can rent automobiles for short periods of time through online or offline booking modes.
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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.
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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, EMR’s 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
1.1 Objectives of the Study
1.1.1 Research Objective
1.1.2 Key Findings of the Report
2 Research Methodology
2.1 Data Extraction
2.2 Data Corroboration
2.3 Market Structure
2.4 Assumptions
2.5 Market Models
3 Introduction
3.1 Market Outlook
3.2 Market Scope and Segmentation
3.3 Additional Insights
4 Executive Summary
4.1 Key Market Developments
4.2 Market Analysis
4.3 Key Players
4.4 Market Revenue and Growth
5 Market Dynamics
5.1 Market Driver Analysis
5.2 Market Restraint Analysis
5.3 Industry Challenges
5.4 Industry Opportunities
6 Global Car Rental Market Analysis
6.1 Global Car Rental Market (2017-2021) & Forecast (2022-2027)
6.2 Global Car Rental Market Breakup by Booking Type
6.2.1 Offline Access
6.2.2 Online Access
6.3 Global Car Rental Market Breakup by Booking Type: Historical Market (2017-2021) & Forecast (2022-2027)
6.3.1 Offline Access
6.3.2 Online Access
6.4 Global Car Rental Market Breakup by Application Type
6.4.1 Leisure/Tourism
6.4.2 Business
6.5 Global Car Rental Market Breakup by Application Type: Historical Market (2017-2021) & Forecast (2022-2027)
6.5.1 Leisure/Tourism
6.5.2 Business
6.6 Global Car Rental Market Breakup by Vehicle Type
6.6.1 Luxury/Premium Cars
6.6.2 Economy/Budget Cars
6.6.3 SUVs
6.6.4 MUVs
6.7 Global Car Rental Market by Vehicle Type: Historical Market (2017-2021) & Forecast (2022-2027)
6.7.1 Luxury/Premium Cars
6.7.2 Economy/Budget Cars
6.7.3 SUVs
6.7.4 MUVs
6.8 Global Car Rental Market by Region
6.8.1 North America
6.8.1.1 United States of America
6.8.1.2 Canada
6.8.2 Europe
6.8.2.1 Germany
6.8.2.2 United Kingdom
6.8.2.3 France
6.8.2.4 Italy
6.8.2.5 Others
6.8.3 Asia Pacific
6.8.3.1 China
6.8.3.2 Japan
6.8.3.3 India
6.8.3.4 ASEAN
6.8.3.5 Others
6.8.4 Latin America
6.8.4.1 Brazil
6.8.4.2 Argentina
6.8.4.3 Mexico
6.8.4.4 Others
6.8.5 Middle East & Africa
6.8.5.1 Saudi Arabia
6.8.5.2 United Arab Emirates
6.8.5.3 Nigeria
6.8.5.4 South Africa
6.8.5.5 Others
6.9 Global Car Rental Market by Region: Historical Market (2017-2021) & Forecast (2022-2027)
6.9.1 North America
6.9.1.1 United States of America
6.9.1.2 Canada
6.9.2 Europe
6.9.2.1 Germany
6.9.2.2 United Kingdom
6.9.2.3 France
6.9.2.4 Italy
6.9.2.5 Others
6.9.3 Asia Pacific
6.9.3.1 China
6.9.3.2 Japan
6.9.3.3 India
6.9.3.4 ASEAN
6.9.3.5 Others
6.9.4 Latin America
6.9.4.1 Brazil
6.9.4.2 Argentina
6.9.4.3 Mexico
6.9.4.4 Others
6.9.5 Middle East & Africa
6.9.5.1 Saudi Arabia
6.9.5.2 United Arab Emirates
6.9.5.3 Nigeria
6.9.5.4 South Africa
6.9.5.5 Others
7 SWOT Analysis
7.1 Overview
7.2 Strengths
7.3 Weaknesses
7.4 Opportunities
7.5 Threats
8 Porter’s Five Forces Analysis
8.1 Overview
8.2 Buyer’s Power
8.3 Supplier’s Power
8.4 New Entrants
8.5 Degree of Rivalry
8.6 Substitutes
9 Competitive Landscape & Supplier Analysis
9.1 Ace Rent-a-car
9.1.1 Company Overview
9.1.2 Financial Analysis
9.2 Advantage Rent-a-car
9.2.1 Company Overview
9.2.2 Financial Analysis
9.3 National Car Rental
9.3.1 Company Overview
9.3.2 Financial Analysis
9.4 Avis Budget Group Inc. [CAR (NASDAQ)]
9.4.1 Company Overview
9.4.2 Financial Analysis
9.5 Eco Rent a Car
9.5.1 Company Overview
9.5.2 Financial Analysis
9.6 Enterprise Holdings Inc.
9.6.1 Company Overview
9.6.2 Financial Analysis
9.7 Hertz Corp. [HRI (NYSE)]
9.7.1 Company Overview
9.7.2 Financial Analysis
9.8 Global Cars
9.8.1 Company Overview
9.8.2 Financial Analysis
9.9 Localiza–Rent-a-car SA [RENT3 (BVMF)]
9.9.1 Company Overview
9.9.2 Financial Analysis
9.10 Europcar Group [EUCAR (EPA)]
9.10.1 Company Overview
9.10.2 Financial Analysis
9.11 Others
10 Industry Events and Developments
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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