Zion
Research has released a new report titled “Car Rental (Luxury Cars, Executive
Cars, Economy Cars, SUV Cars, and MUV Cars) Market for Local Usage, Airport
Transport, Outstation, and Other End-users: Global Industry Perspective,
Comprehensive Analysis, and Forecast, 2014-2020.” According to the
report, global car
rental market was valued at approximately USD 41.50
billion in 2014 and is expected to reach USD around 90.0 billion in 2020,
growing at a CAGR of around 13.5% between 2015 and 2020.
Global car rental industry is experiencing a
major transformation. Car rental is a service that offers
automobiles on predefined rent for a short time. Rental period ranges from few
hours to weeks. Car rental offers better mobility with no the requirement to
pay different costs related with car ownership. It provides flexibility to
prefer vehicle depending on requirement and budget. Car rental companies
also offer different value added services such as entertainment systems,
insurance and GPS navigation systems. Car rental service providers are widely
found in the vicinity of busy city center and airports.
Browse the full "Car
Rental (Luxury Cars, Executive Cars, Economy Cars, SUV Cars, and MUV Cars)
Market for Local Usage, Airport Transport, Outstation, and Other End-users:
Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth,
Segment, Trends and Forecast, 2014 – 2020" report at http://www.marketresearchstore.com/report/car-rental-market-z39067
More
sophisticated corporate information and customer base management is helping car
rental players to deliver leading-edge service to their customers. Growing
tourism worldwide is one of the major drivers of car rental market. Car rental
service provider offers different automobiles on contracted basis to
individual, corporate, business or recreational purposes. Facilities such as
easy-to-use internet car booking applications and returning the vehicle to the
convenient place are the major attraction in this industry.
Rapidly
increasing industrialization resulted into increase in leisure and business
trips, which is a significant growth factor of this market. Travelers are
increasingly looking for reliable, familiar and high quality travel services.
Most of the leading car rental players are striving to take benefit of this
trend by intensifying their brands worldwide. However, stringent emission
standards and instability in crude oil prices are anticipated to affect the
growth of the market during estimated period. Various types of cars are used in
the rental services are executive cars, SUV cars, economy cars, MUV cars and
luxury cars. In 2014 economy cars was dominant segment and accounted for more
than 30% share of overall market. The executive and luxury cars segment is also
projected to show considerable growth in the years to come.
Browse
29 Market Tables and 30 Figures spread through 70 Pages and an in-depth TOC on
“Car Rental
Market - Global Size, Shares, Trends, Segment & Forecast to 2020”
Access
Sample Research Report at http://www.marketresearchstore.com/report/car-rental-market-z39067#RequestSample
Key
end use sectors of car rental services include airport transport, outstation
and including self drive, local usage, event transportation, employee
transportation solutions and others. In 2014, the airport transport was the
largest segment and accounted for more than 30% of the total revenue produced
by car rental market. Dynamic growth of air travelers is mainly supporting
demand of car rental services.
North
America was the major region in car rental market, with approximately more than
35% share in total revenue in 2014. This growth is supported by strong growth
in business and leisure travelling in this region. The rental vehicle industry
is inextricably connected to the tourism industry. Tourism influences the
rental vehicle industry at major tourism destinations and airport. Rental cars
at major airports represent a considerable proportion of the overall turnover
of this industry. Substantial economical growth, improved road and
infrastructure facilities, steep rise in tourism are major supporting reasons
for the strong growth car rental market in Asia Pacific region. Europe and
Middle East regions are also estimated to witness significant growth of car
rental market in the near future.
Some
of the key service providers in this market include Enterprise Rent-A-Car, Sixt
Rent-A-Car, The Hertz Corporation, EuropCar, Avis Budget Group, Inc.,
Al-Futtaim Group, Carzonrent, Localiza Rent-A-Car, and Eco Rent-A-Car.
The report segments the global car
rental market as:
Car Rental Market: Car
Type Segment Analysis
- Luxury cars
- Executive cars
- Economy cars
- SUV cars
- MUV cars
Car Rental Market: End-users
Segment Analysis
- Local usage
- Airport transport
- Outstation
- Others (Including self drive, employee transportation solutions etc.)
Car Rental Market:
Regional Segment Analysis
- North America
- U.S.
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- Japan
- o India
- Latin America
- Brazil
- Middle East and Africa
Browse Press Release: http://www.marketresearchstore.com/news/global-car-rental-market-set-for-rapid-growth-127
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3422 SW 15 Street, Suit #8138
Deerfield Beach, Florida 33442, USA
Toll Free: +1-855-465-4651 (USA-CANADA)
Tel: +1-386-310-3803
Email: sales@marketresearchstore.com
Website: http://www.marketresearchstore.com/
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