Car Rental Market by Type of Car, and Multi Utility Vehicle and Rental Category - Global Opportunity Analysis and Industry Forecast, 2014 - 2022

  • ID: 4612707
  • Report
  • Region: Global
  • 150 pages
  • Allied Analytics LLP
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The global car rental market was valued at $79,648 million in 2015, and is expected to reach $164,335 million by 2022, growing at a CAGR of 11.6% from 2016 to 2022. Car rental companies offer automobiles on rent with a suitable fee for a certain duration that can range from hours to months. Various types of cars are available on rent, including economy cars, executive cars, luxury cars, SUV’s and MUV’s. These cars are rented for different purposes, including airport transport, local usage, outstation, event transportation, self-drive, and employee transportation. Besides the basic vehicle on rent, car rental firms often offer additional services such as entertainment systems, GPS navigation systems, and insurance. These companies offer their facilities to people who do not own a vehicle, whose vehicle is out of maintenance, or having no access or limited access to personal vehicles. In addition, owners of broken vehicles and tourists & travelers avail these services. This service is generally structured across various local branches that facilitates customer for easy returning of the vehicles at their preferred location. The car rental market is often managed through websites, allowing customers for online reservations.

Development of the travel & tourism industry, rise in disposable income of people in North America & Europe, enhanced road infrastructure, and increase in investment by global funds and players opting for aggregator-based business model are the key drivers of the market. However, negative impact of volatile prices of gasoline & petroleum products on expenditure of the car rental industry hampers the market growth. Growth in trend of internet usage to customize travel trips and for reservations & bookings is expected to unfold various opportunities for the growth of the market.

The market segmentation is based on type of car, rental category, and geography. The type of car segment is categorized into luxury car, executive car, economical car, sports utility vehicle, and multi utility vehicle. The rental category is bifurcated into on airport and off airport rental. Off airport rental is sub segmented into local usage, outstation, and others. Geographically, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, South Korea, Japan, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

The key players profiled in the market include Avis Budget Group, Inc., Carzonrent India Pvt Ltd., Enterprise Holdings Inc., Europcar, The Hertz Corporation, Sixt Rent a Car, Uber Technologies Inc., Localiza, Eco Rent a Car, and Budget Rent a Car System, Inc.

KEY BENEFITS

The report includes an extensive analysis of the factors that drive as well as restrain the growth of the global car rental market.
The market projections from 2014 to 2022 are included along with the impacting factors.
The report also offers quantitative as well as qualitative trends to assist the stakeholders to understand the situations prevailing in the market.
Extensive analysis by vehicle type facilitates to understand various types of vehicles that are utilized in car rental industry.

Car Rental Market Key Segmentation

BY TYPE OF CAR

Luxury Car
Executive Car
Economical Car
Sports Utility Vehicle (SUV)
Multi Utility Vehicle (MUV)

BY RENTAL CATEGORY

On Airport
Off Airport
Local Usage
Outstation
Others

BY GEOGRAPHY

North America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
UK
Rest of Europe
Asia-Pacific
China
South Korea
Japan
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

MARKET PLAYERS IN THE VALUE CHAIN

Avis Budget Group, Inc.
Carzonrent India Pvt Ltd.
Enterprise Holdings Inc.
Europcar
The Hertz Corporation
Sixt Rent a Car
Uber Technologies Inc.
Localiza
Eco Rent a Car
Budget Rent A Car System, Inc.

Other players in value chain include (profiles not included in the report)

German Rent a Car
Tempest Car Hire
DTG Operations, Inc.
Alamo
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CHAPTER 1 INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2 EXECUTIVE SUMMARY
2.1. KEY FINDINGS
2.2. CXO PERSPECTIVE

CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top winning strategies
3.2.2. Top investment pockets
3.3. PORTERS FIVE FORCES ANALYSIS
3.4. MARKET SHARE ANALYSIS, 2015
3.5. MARKET DYNAMICS
3.5.1. Drivers
3.5.1.1. Expansion and progression of worldwide travel and tourism industry
3.5.1.2. Rise in the disposable income of people in North America and Europe
3.5.1.3. Enhanced road infrastructure around the globe
3.5.1.4. Investment by global funds and players opting for aggregator based business model
3.5.2. Restraints
3.5.2.1. Negative impact of volatile prices of gasoline and petroleum products on expenditure in car rental industry
3.5.3. Opportunities
3.5.3.1. Growth in trend of using the internet to customize travel trips and for reservations and bookings

CHAPTER 4 CAR RENTAL MARKET, BY TYPE OF CAR
4.1. OVERVIEW
4.1.1. Market size and forecast
4.2. LUXURY CAR
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast
4.3. EXECUTIVE CAR
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast
4.4. ECONOMICAL CAR
4.4.1. Key market trends, growth factors and opportunities
4.4.2. Market size and forecast
4.5. SPORTS UTILITY VEHICLE (SUV)
4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast
4.6. MULTI UTILITY VEHICLE (MUV)
4.6.1. Key market trends, growth factors and opportunities
4.6.2. Market size and forecast

CHAPTER 5 CAR RENTAL MARKET, BY RENTAL CATEGORY
5.1. OVERVIEW
5.1.1. Market size and forecast
5.2. ON AIRPORT
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast
5.3. OFF AIRPORT
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast
5.3.3. Local usage Off Airport Car Rental
5.3.3.1. Key market trends, growth factors, and opportunities
5.3.3.2. Market size and forecast
5.3.4. Outstation Off Airport Car Rental
5.3.4.1. Key market trends, growth factors, and opportunities
5.3.4.2. Market size and forecast
5.3.5. Others Off Airport Car Rental
5.3.5.1. Key market trends, growth factors, and opportunities
5.3.5.2. Market size and forecast

CHAPTER 6 CAR RENTAL MARKET, BY GEOGRAPHY
6.1. OVERVIEW
6.1.1. Market size and forecast
6.2. NORTH AMERICA
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast
6.2.3. U.S.
6.2.3.1. Market size and forecast
6.2.4. Canada
6.2.4.1. Market size and forecast
6.2.5. Mexico
6.2.5.1. Market size and forecast
6.3. EUROPE
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast
6.3.3. GERMANY
6.3.3.1. Market size and forecast
6.3.4. FRANCE
6.3.4.1. Market size and forecast
6.3.5. ITALY
6.3.5.1. Market size and forecast
6.3.6. UK
6.3.6.1. Market size and forecast
6.3.7. REST OF EUROPE
6.3.7.1. Market size and forecast
6.4. ASIA-PACIFIC
6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast
6.4.3. CHINA
6.4.3.1. Market size and forecast
6.4.4. JAPAN
6.4.4.1. Market size and forecast
6.4.5. INDIA
6.4.5.1. Market size and forecast
6.4.6. South Korea
6.4.6.1. Market size and forecast
6.4.7. REST OF ASIA-PACIFIC
6.4.7.1. Market size and forecast
6.5. LAMEA (LATIN AMERICA MIDDLE-EAST AND AFRICA)
6.5.1. Key market trends, growth factors, and opportunities
6.5.2. Market size and forecast
6.5.3. LATIN AMERICA
6.5.3.1. Market size and forecast
6.5.4. THE MIDDLE EAST
6.5.4.1. Market size and forecast
6.5.5. AFRICA
6.5.5.1. Market size and forecast

CHAPTER 7 RELATED INDUSTRY INSIGHTS
7.1. Global Online Travel Market
7.2. Global Travel Insurance Market
7.3. Global Luxury Travel Market
7.4. Global Smart Transportation Market

CHAPTER 8 COMPANY PROFILES
8.1. AVIS BUDGET GROUP
8.1.1. Company overview
8.1.2. Operating business segments
8.1.3. Business performance
8.1.4. Key strategic moves and developments
8.2. CARZONRENT INDIA PVT LTD.
8.2.1. Company overview
8.2.2. Operating business segments
8.2.3. Business performance
8.2.4. Key strategic moves and developments
8.3. ENTERPISE HOLDING INC.
8.3.1. Company overview
8.3.2. Operating business segments
8.3.3. Business performance
8.3.4. Key strategic moves and developments
8.4. EUROPCAR
8.4.1. Company overview
8.4.2. Operating business segments
8.4.3. Business performance
8.4.4. Key strategic moves and developments
8.5. THE HERTZ CORPORATION
8.5.1. Company overview
8.5.2. Operating business segments
8.5.3. Business performance
8.5.4. Key strategic moves and developments
8.6. SIXT
8.6.1. Company overview
8.6.2. Operating business segments
8.6.3. Business performance
8.6.4. Key strategic moves and developments
8.7. UBER TECHNOLOGIES INC.
8.7.1. Company overview
8.7.2. Operating business segments
8.7.3. Business performance
8.7.3. Key strategic moves and developments
8.8. LOCALIZA
8.8.1. Company overview
8.8.2. Operating business segments
8.8.3. Business performance
8.8.4. Key strategic moves and developments
8.9. ECO RENT A CAR
8.9.1. Company overview
8.9.2. Operating business segments
8.9.3. Business performance
8.9.4. Key strategic moves and developments
8.10. BUDGET RENT A CAR SYSTEM, INC.
8.10.1. Company overview
8.10.2. Operating business segments
8.10.3. Business performance
8.10.3. Key strategic moves and developments
*Other players in the value chain include.
German Rent A Car
Tempest Car Hire
DTG Operations, Inc.
Alamo
*Profiles of these players are not included. The same will be included on request
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According to a new report titled, Car Rental Market: Global Opportunity Alysis and Industry Forecast, 2014 - 2022, the global car rental market was valued at $79,648 million in 2015, and is expected to reach $164,335 million by 2022, growing at a CAGR of 11.6% during the forecast period. The economical car segment is anticipated to domite the market throughout the alysis period. North America accounted for approximately 40% share of the global market in 2015.

With growth in pollution level and population, the car rental industry has experienced a drastic transformation over the past few years, and is one of the most prominent industries in fleet transportation. Manufacturers and consumers rely on different car rental schemes, which are cost-effective. In addition, car rentals are majorly contributing to curb the pollution level of the atmosphere by reducing the volumetric sales of owned vehicles. Moreover, with increase in air traffic and growth in rise in trend of online booking in travel industry, car rentals are the preferred options to travel, as cars are the most economical and faster mode of transportation. These advantages are promoting the growth of the car rental industry at an exponential rate.

By the type of car, the car rental market is categorized into luxury car, executive car, economical car, sports utility vehicle (SUV), and multi utility vehicle (MUV). The economical car segment accounted for the highest revenue in 2015, is anticipated to grow at a CAGR of 12.5%, owing to high rate of adoption of economy cars in the emerging economies of Asia-Pacific and LAMEA.

By rental category, the car rental market is befitted into on-airport and off-airport. The off-airport category is further divided into local usage, outstation, and others. In 2015, the off-airport rental category segment accounted for over 61% of the market share, and is anticipated to register a CAGR of 12.0%. This is attributed to the development of travel industry and rise in disposable income globally. The outstation off-airport rental category is anticipated to witness fastest growth, registering a CAGR of 12.8%, due to improvement in road infrastructure globally.

Furthermore, North America accounted for the highest revenue in 2015, and is anticipated to grow at a CAGR of 8.8%, owing to the rise in disposable income of people in countries such as the U.S. and Cada. Asia-Pacific is projected to grow at the highest CAGR of 16.5% owing to high rate of adoption of economy and executive cars.

Key findings of the Car Rental Market

In 2015, the economical car segment led the overall car rental market, generating revenue of $22,802 million in 2015, and is estimated to grow at a CAGR of 12.5%.
Off-airport rental category is anticipated to grow at the highest CAGR of 12.0% during the forecast period.
In 2015, the local usage segment led the off-airport market, accounting for $19,073 million, and is expected to lose the highest market share to outstation off-airport rental category in 2019.
North America led the market, generating revenue of $32,248 million in 2015, and is projected to grow at a CAGR of 8.8%.
Asia-Pacific is anticipated to take over the major market share post 2017, owing to the rise in sales of vehicles.

The key players operating in the market include Avis Budget Group, Inc., Carzonrent India Pvt Ltd., Enterprise Holdings Inc., Europcar, The Hertz Corporation, Sixt Rent a Car, Uber Technologies Inc., Localiza, Eco Rent a Car, Budget Rent a Car System, Inc., German Rent a Car, Tempest Car Hire, DTG Operations, Inc., and Alamo.
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