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Global Car Rental Market Size, Share & Trends Analysis, 2014-2019 & 2025: Market Size is Expected to Reach USD 125.4 Billion

DUBLIN, Aug. 28, 2019 /PRNewswire/ -- The "Car Rental Market Size, Share & Trends Analysis Report By Vehicle Type (Economy, Executive, Luxury), By Application (Local Usage, Airport Transport, Outstation), By Region, And Segment Forecasts, 2019 - 2025" report has been added to ResearchAndMarkets.com's offering.

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The global car rental market size is expected to reach USD 125.4 billion by 2025, registering a CAGR of 5.1% from 2019 to 2025

High total cost of ownership (TCO) associated with personal vehicles and growth in the tourism industry across the globe are two main factors fueling the market.

Increasing number of smartphone users globally and rising dependency on technology for carrying out activities such as booking and paying for rental services have been vital to market growth over the years. A number of vehicle rental companies are rolling out apps to notify their customers about promotional offers, discount coupons, fare, real-time tracking, and availability. As customers demand availability of cars in minimal time, industry players are focusing on enhancing their service convenience and streamlining business processes by utilizing IoT-enabled fleet management solutions.

Industry participants compete with each other on the basis of fleet size, pricing, location flexibility, and marketing expertise. The market is highly competitive, forcing companies to shrink their profit margins in order to offer better services to customers than their competitors. High intensity of competition within the industry is also encouraging major players to acquire smaller companies in order to strengthen their position in the marketplace. Several prominent service providers have introduced their brands at affordable prices as a strategy to expand their customer base.

Further key findings from the report suggest:

  • Along with reduction in fuel prices, there has been a considerable rise in number of international travelers worldwide, thereby resulting in rising demand for rental services
  • Rising consumer awareness regarding rental add-ons and availability of affordable solutions is compelling car rental market players to focus on enhancing their services and prioritizing customers' convenience
  • Airport transport is anticipated to emerge as the largest application segment over the coming years, owing to a significant increase in number of air travelers across the globe. Numerous small companies are also entering this segment with new technologies and processes, further propelling the revenue generation prospects of the segment
  • Bleisure travel, which refers to a combination of a business and leisure trip, is one of the emerging and most promising trends in the travel and tourism industry. This trend is poised to propel the demand for car hiring and renting services among leisure and business travelers.

Key Topics Covered:

Chapter 1. Methodology and Scope
1.1. Information Procurement
1.2. Information Analysis & Data Analysis Models
1.3. List of Data Sources
1.4. Research Scope & Assumptions

Chapter 2. Executive Summary
2.1. Market Snapshot & Key Buying Criteria, 2014 - 2025

Chapter 3. Industry Outlook
3.1. Market Segmentation & Scope
3.2. Market Size and Growth Prospects, 2014 - 2025
3.3. Value Chain Analysis
3.4. Market Dynamics
3.4.1. Market driver analysis
3.4.1.1. Growth in the global leisure and corporate travelers
3.4.1.2. Increase in the number of mobile and Internet users worldwide
3.4.1.3. Globalization and increase in global air travel
3.4.2. Market restraint analysis
3.4.2.1. Introduction of and compliance with stringent emission standards
3.4.2.2. Growth in low-cost public transportation
3.4.2.3. Volatility in the crude oil prices
3.5. Penetration & Growth Prospect Mapping
3.6. Business Environment Analysis
3.6.1. PEST Analysis
3.6.2. Porter's Five Forces Analysis
3.7. Competitive Rivalry
3.8. Key Company Ranking Analysis, 2018
3.9. Car Rental - Market trends
3.9.1. Intermediaries
3.9.2. Value segment
3.9.3. Rental process improvements
3.9.4. Alternative service providers
3.9.5. Operating models
3.10. Perils In The Car Rental Market
3.10.1. Pricing & consumer perception
3.10.2. Losing potential customers & higher distribution costs
3.10.3. Minimal loyalty for brands
3.10.4. Retention failure
3.10.5. Higher cost of customer acquisition

Chapter 4. Vehicle Type Estimates & Trend Analysis
4.1. Market Size Estimates & Forecasts, and Trend Analysis, 2014 - 2025 (USD Million)
4.2. Vehicle type Movement Analysis & Market Share, 2018 & 2025 (USD Million)
4.3. Luxury cars
4.4. Executive cars
4.5. Economy cars
4.6. SUVs
4.7. MUVs

Chapter 5. Application Estimates & Trend Analysis
5.1. Market Size Estimates & Forecasts, and Trend Analysis, 2014 - 2025 (USD Million)
5.2. Application Movement Analysis & Market Share, 2018 & 2025 (USD Million)
5.3. Local usage
5.4. Airport transport
5.5. Outstation
5.6. Others

Chapter 6. Regional Estimates & Trend Analysis
6.1. Market Size Estimates & Forecasts, and Trend Analysis, 2014 - 2025 (USD Million)
6.2. Regional Movement Analysis & Market Share, 2018 & 2025 (USD Million)

Chapter 7. Competitive Landscape

  • Al-Futtaim Vehicle Rentals Company LLC
  • Avis Budget Group, Inc.
  • Carzonrent India Private Limited (CIPL)
  • Eco Rent A Car
  • Enterprise Rent-A-Car
  • Europcar
  • Localiza Rent a Car SA
  • The Hertz Corporation
  • Sixt SE

For more information about this report visit https://www.researchandmarkets.com/r/9risso

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