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Car Rental Market By Vehicle Type (Economic Vehicle, Executive Vehicle, Small Utility Vehicle, Medium Utility Vehicle, and Luxury Cars), By Rental Category (Airport Transport, Local Transport, Outstation Transport) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023

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Published: | Report ID: 2059 | Report Format : PDF

Report Scope

This report analyses the global car rental market in terms of vehicle type, rental category, and geography. On the basis of vehicle type, the global car rental market is segmented into economic vehicles, executive vehicles, SUVs, MUVs, and luxury cars. Similarly, on the basis of the rental category, global car rental is further classified into airport transport, local transport, and outstation transport. The geographical distribution of the global car rental market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

Overview:

The perpetual rise in the number of air travelers for leisure as well as business trips is driving the car rental market worldwide. The advancements in technologies leading to the integration of telematics and navigation solutions in cars have been instrumental in ensuring transparency and winning the confidence of people in car rental services. The introduction of car rental apps has further augmented the reach of car rental services. The availability of a wide range of vehicles with different cost plans has allowed consumers the flexibility of choosing vehicles as per their needs, thereby supporting market growth. These factors are expected to contribute to a double-digit compounded annual growth rate (CAGR) during the forecast period of 2016–2023.

1.1 Report Description

Purpose of the Report

The purpose of this strategic research study titled “Car Rental Market: Growth, Share, Opportunities, and Competitive Analysis, 2016–2023” is to offer industry investors, company executives, and industry participants in-depth insights to enable them to make informed strategic decisions related to the opportunities in the global car rental industry.

1.1.1 Target Audience

  • Industry Investors
  • Car Rental Service Providers
  • App Developers
  • End-users

Overall, the research study provides a holistic view of the global car rental market, offering market size and estimates for the period from 2014 to 2023, keeping in mind the above-mentioned factors.

On the basis of rental category, the car rental market is categorized into the following segments:

  • Airport Transport
  • Local Transport
  • Outstation Transport

 As of 2015, the airport transport category led the overall car rental market. The category accounted for over 40% of the global car rental service revenues in the same year. The perpetual rise in the number of air travelers globally is expected to have a positive impact on the overall demand for car rentals in the air transport segment. Thus, the air transport category is expected to witness healthy growth during the forecast period of 2016–2023. On the other hand, both outstation and local travel categories are expected to register strong gains in the coming years. With the lack of proper public transport infrastructure, especially in emerging economies, people are turning towards rental car services for their day-to-day intra-city navigation. The car rental companies offer variable rates as per the distance covered, making long trips (outstation trips) cost-effective for their customers.

On the basis of vehicle type, the car rental market is categorized into the following segments:

  • Economy Vehicle
  • SUV
  • MUV
  • Executive Vehicle
  • Luxury Vehicle

As of 2015, economy vehicles dominated the overall car rental market worldwide and are expected to witness robust growth, especially in Asia Pacific and the Rest of the World. This is largely on account of the benefits offered by these cars in terms of cost and mileage. Commuters generally prefer economy rental cars for their day-to-day intra-city navigation. The trend shall prolong, and the segment is expected to register robust growth during the forecast period. Executive cars are witnessing strong growth owing to the rising demand from corporate delegates. There has been a significant rise in the number of business travelers who generally opt for the higher quality service offered by executive cars. MUVs are also expected to register stronger gains during the forecast period on account of their ability to accommodate a large number of people and offer high-speed and power capabilities.

On the basis of geography, the global car rental market is segmented into the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • U.K.
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • India
    • China
    • Japan
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

North America, comprising Canada and the United States, is currently the largest regional car rental market, followed by Europe and Asia Pacific. As of 2015, the region accounted for over 38 percent of the global market revenue. The trend shall prolong, and the region is presumed to remain the largest car rental market throughout the forecast period of 2016–2023. The growth in the region is driven by the easy availability of insurance and the rise in the number of air travelers for leisure as well as corporate trips. On the other hand, Asia-Pacific is expected to witness maximum growth, outpacing North America and Europe during the same period. Japan remains one of the most prominent car rental markets in the region. A surge in inbound arrivals has supported the car rental market in the country. The leading car rental companies in the country, like Toyota, are focusing on tapping foreign travelers by offering features like WiFi, multi-language booking platforms, and in-car navigation, among others.

1. Preface
1.1. Report Scope and Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase III-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted

2. Executive Summary
2.1. Global Car Rental Market Snapshot

3. Global Car Rental Market Analysis
3.1. Global Car Rental Market Overview
3.2. Market Inclination Insights
3.2.1. Recent Trends
3.2.2. Future Outlook
3.3. Market Dynamics
3.3.1. Market Drivers
3.3.2. Market Challenges
3.4. See-Saw Analysis
3.5. Ecosystem Analysis
3.6. Attractive Investment Proposition
3.7. Market Positioning of Key Industry Participants
3.7.1. Major Strategies Adopted
3.7.2. Analyst Recommendations

4. Global Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
4.1. Market Analysis
4.2. Economic Vehicle
4.3. Executive Vehicle
4.4. SUV
4.5. MUV
4.6. Luxury Cars

5. Global Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
5.1. Market Analysis
5.2. Airport Transport
5.3. Local Transport
5.4. Outstation Transport

6. North America Car Rental Market Analysis, 2014 – 2023 (US$ Bn)
6.1. North America Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
6.1.1. Economic Vehicle
6.1.2. Executive Vehicle
6.1.3. SUV
6.1.4. MUV
6.1.5. Luxury Cars
6.2. North America Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
6.2.1. Airport Transport
6.2.2. Local Transport
6.2.3. Outstation Transport
6.3. North America Car Rental Market Revenue, By Country, 2014 – 2023 (US$ Bn)
6.3.1. U.S.
6.3.1.1. U.S. Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
6.3.1.2. U.S. Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
6.3.2. Canada
6.3.2.1. Canada Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
6.3.2.2. Canada Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)

7. Europe Car Rental Market Analysis, 2014 – 2023 (US$ Bn)
7.1. Europe Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
7.1.1. Economic Vehicle
7.1.2. Executive Vehicle
7.1.3. SUV
7.1.4. MUV
7.1.5. Luxury Cars
7.2. Europe Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
7.2.1. Airport Transport
7.2.2. Local Transport
7.2.3. Outstation Transport
7.3. Europe Car Rental Market Revenue, By Region, 2014 – 2023 (US$ Bn)
7.3.1. U.K.
7.3.1.1. U.K. Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
7.3.1.2. U.K. Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
7.3.2. Germany
7.3.2.1. Germany Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
7.3.2.2. Germany Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
7.3.3. France
7.3.3.1. France Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
7.3.3.2. France Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
7.3.4. Rest of Europe
7.3.4.1. Rest of Europe Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
7.3.4.2. Rest of Europe Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)

8. Asia Pacific Car Rental Market Analysis, 2014 – 2023 (US$ Bn)
8.1. Asia Pacific Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
8.1.1. Economic Vehicle
8.1.2. Executive Vehicle
8.1.3. SUV
8.1.4. MUV
8.1.5. Luxury Cars
8.2. Asia Pacific Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
8.2.1. Airport Transport
8.2.2. Local Transport
8.2.3. Outstation Transport
8.3. Asia Pacific Car Rental Market Revenue, By Country, 2014 – 2023 (US$ Bn)
8.3.1. Japan
8.3.1.1. Japan Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
8.3.1.2. Japan Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
8.3.2. China
8.3.2.1. China Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
8.3.2.2. China Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
8.3.3. India
8.3.3.1. India Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
8.3.3.2. India Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
8.3.4. Rest of Asia Pacific
8.3.4.1. Rest of Asia Pacific Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
8.3.4.2. Rest of Asia Pacific Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)

9. Rest of World Car Rental Market Analysis, 2014 – 2023 (US$ Bn)
9.1. Rest of World Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
9.1.1. Economic Vehicle
9.1.2. Executive Vehicle
9.1.3. SUV
9.1.4. MUV
9.1.5. Luxury Cars
9.2. Rest of World Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
9.2.1. Airport Transport
9.2.2. Local Transport
9.2.3. Outstation Transport
9.3. Rest of World Car Rental Market Revenue, By Region, 2014 – 2023 (US$ Bn)
9.3.1. Latin America
9.3.1.1. Latin America Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
9.3.1.2. Latin America Pacific Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
9.3.2. Middle-East and Africa
9.3.2.1. Middle-East and Africa Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
9.3.2.2. Middle-East and Africa Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)

10. Company Profiles
10.1. Avis Budget Group, Inc.
10.2. Enterprise Rent-A-Car
10.3. Sixt Rent A Car
10.4. EuropCar
10.5. The Hertz Corporation
10.6. Carzonrent
10.7. Al-Futtaim Group
10.8. Localiza Rent A Car
10.9. Eco Rent A Car
10.10. Fox Rent-A-Car
10.11. Midway Car Rental
10.12. Advantage Rent a Car

List of Figures

FIG. 1 Global Car Rental: Market Segmentation
FIG. 2 Global Car Rental Market: Research Methodology
FIG. 3 Top-Down and Bottom Up Approach
FIG. 4 Global Car Rental Market, By Vehicle Type, 2015 (US$ Bn)
FIG. 5 Global Car Rental Market, By Rental Category, 2015 (US$ Bn)
FIG. 6 Global Car Rental Market, By Geography, 2015 (US$ Bn)
FIG. 7 Global Car Rental Market Revenue and Growth, 2014 – 2023, (US$ Bn and % Y-o-Y)
FIG. 8 See-Saw Analysis : Global Car Rental Market
FIG. 9 Ecosystem Analysis: Global Car Rental Market
FIG. 10 Market Positioning of Key Industry Participants, 2015
FIG. 11 Global Car Rental Market Revenue Contribution, By Vehicle Type, 2015 & 2023 (Value %)
FIG. 12 Global Economic Car Rental Market Revenue and Growth, 2014 – 2023, (US$ Bn)
FIG. 13 Global Executive Car Rental Market Revenue and Growth, 2014 – 2023, (US$ Bn)
FIG. 14 Global SUV Car Rental Market Revenue and Growth, 2014 – 2023, (US$ Bn)
FIG. 15 Global MUV Car Rental Market Revenue and Growth, 2014 – 2023, (US$ Bn)
FIG. 16 Global Luxury Car Rental Market Revenue and Growth, 2014 – 2023, (US$ Bn)
FIG. 17 Global Car Rental Market Revenue Contribution, By Rental Category, 2015 & 2023 (US$ Bn)
FIG. 18 Global Car Rental Market Revenue and Growth for Air Transport, 2014 – 2023, (US$ Bn)
FIG. 19 Global Car Rental Market Revenue and Growth for Local Transport, 2014 – 2023, (US$ Bn)
FIG. 20 Global Car Rental Market Revenue and Growth for Outstation Transport, 2014 – 2023, (US$ Bn)
FIG. 21 Global Car Rental Market Revenue and Growth for Mining Applications, 2014 – 2023, (US$ Bn)
FIG. 22 North America Car Rental Market Revenue and Growth, 2014 – 2023, (US$ Bn) (Y-o-Y %)
FIG. 23 Europe Car Rental Market Revenue and Growth, 2014 – 2023, (US$ Bn) (Y-o-Y %)
FIG. 24 Asia Pacific Car Rental Market Revenue and Growth, 2014 – 2023, (US$ Bn) (Y-o-Y %)
FIG. 25 RoW Car Rental Market Revenue and Growth, 2014– 2023, (US$ Bn) (Y-o-Y %)

List of Tables

TABLE 1 Market Snapshot: Global Car Rental Market
TABLE 2 Evolution of Car Rental
TABLE 3 Impact Indicators
TABLE 4 Impact Analysis of Drivers and Restraints
TABLE 5 North America Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
TABLE 6 North America Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
TABLE 7 North America Car Rental Market Revenue, By Country, 2014 – 2023 (US$ Bn)
TABLE 8 U.S. Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
TABLE 9 U.S. Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
TABLE 10 Canada Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
TABLE 11 Canada Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
TABLE 12 Europe Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
TABLE 13 Europe Car Rental Market Revenue, By Rental Category, 2015 – 2023 (US$ Bn)
TABLE 14 Europe Car Rental Market Revenue, By Country, 2014 – 2023 (US$ Bn)
TABLE 15 U.K. Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
TABLE 16 U.K. Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
TABLE 17 France Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
TABLE 18 France Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
TABLE 19 Germany Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
TABLE 20 Germany Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
TABLE 21 Rest of Europe Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
TABLE 22 Rest of Europe Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
TABLE 23 Asia Pacific Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
TABLE 24 Asia Pacific Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
TABLE 25 Asia Pacific Car Rental Market Revenue, By Country, 2014 – 2023 (US$ Bn)
TABLE 26 China Car Rental Market Revenue, By Vehicle Type, 2014- 2023 (US$ Bn)
TABLE 27 China Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
TABLE 28 Japan Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
TABLE 29 Japan Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
TABLE 30 India Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
TABLE 31 India Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
TABLE 32 Rest of Asia Pacific Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
TABLE 33 Rest of Asia Pacifc Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
TABLE 34 Rest of World Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
TABLE 35 Rest of World Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
TABLE 36 Rest of World Car Rental Market Revenue, By Region, 2014 – 2023 (US$ Bn)
TABLE 37 Latin America Car Rental Market Revenue, By Product ype, 2014 – 2023 (US$ Bn)
TABLE 38 Latin America Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)
TABLE 39 Middle-East and Africa Car Rental Market Revenue, By Vehicle Type, 2014 – 2023 (US$ Bn)
TABLE 40 Middle-East and Africa Car Rental Market Revenue, By Rental Category, 2014 – 2023 (US$ Bn)

Frequently Asked Questions

What is the size of Car Rental Market?

The market for Car Rental Market is expected to reach XX Mn in 2023.

What is the Car Rental Market CAGR?

The Car Rental Market is expected to see significant CAGR growth over the coming years,at 11.5%

What is the Forecast period considered for Car Rental Market?

The report is forecasted from 2016-2023.

What is the base year considered for Car Rental Market?

The base year of this report is 2015.

Who are the major players in this market?

Avis Budget Group, Inc.,Enterprise Rent-A-Car,Sixt Rent A Car,EuropCar,The Hertz Corporation are some of the major players in the global market.

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