The global car rental industry is expected to reach $95.1 billion by 2021


   Febuary 14 2017
According to a new market report published by Lucintel, the future of the global car rental industry looks promising with opportunities in the on-airport and off-airport market segment. The global car rental industry is expected to reach estimated $95.1 billion by 2021. The global car rental industry is forecast to grow at a CAGR of 5.6% from 2016 to 2021. The major drivers of growth for this market are rising global tourism industry, increasing globalization of corporate operations, and increasing income levels across the globe. 

A total of 58 figures / charts and 25 tables are provided in this 127-page report to help in your business decisions.

In this industry, on-airport and off-airport are the major segments by location. On the basis of vehicle type, the market is segmented into luxury cars, executive cars, economy cars, SUV, and MUV. On the basis of its comprehensive research, Lucintel forecasts that the on-airport and off-airport segments are expected to show above average growth during the forecast period due rise in domestic and inbound tourism, increasing passenger flow at airports, infrastructure improvement, and standardization of credit cards.

North America is expected to remain the largest market due to increasing air passenger traffic rate and domestic tourist volume.

Emerging trends which have a direct impact on the dynamics of the industry include enhanced user experience through digitization, introduction of green vehicles in car fleet, enhanced technologies in car rental service, and the concept of self-drive instead of hiring a driver. Enterprise Rent-A-Car, Hertz Global Holdings, Inc., Avis Budget Group Inc., Europcar Groupe S.A., and Sixt AG are the major car rental service providers in the global car rental industry. Of these, several are seeking mergers and acquisitions as strategic initiatives to drive growth.  

 

Lucintel, a leading global strategic consulting and market research firm, has analyzed the growth opportunities in the global car rental industry by location, customer, vehicle type, mode of booking, and region and has come up with a comprehensive research report, Growth Opportunities in the Global Car Rental Industry 2016-2021: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the growth opportunities in the global car rental industry by location, customer, vehicle type, mode of booking, and region as follows:

 

By location ($ billion from 2010 to 2021):

·         On-Airport

·         Off Airport

 

By customer ($ billion from 2010 to 2021):

·         Business

·         Leisure

·         Others

 

By vehicle type ($ billion from 2010 to 2021):

·         Luxury cars

·         Executive cars

·         Economy cars

·         SUV

·         MUV

 

By mode of booking ($ billion from 2010 to 2021):

·         Online

·         Offline

 

By region ($ billion from 2010 to 2021)

·         North America

·         Europe

·         Asia Pacific

·         The Rest of the World

This 145-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/car_rental_industry_2021.aspx or  helpdesk@lucintel.com.

About Lucintel

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

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