Global Car Rental Industry was valued at USD 35.4 Billion in the year 2017. Global Car Rental Industry is further estimated to grow at a CAGR of 14.16% from 2018 to reach USD 116.39 Billion by the year 2025. North America region holds the highest Industry share in 2017 whereas the Asia-Pacific Industry is considered as the fastest growing region in the forecasted period. At the country level, developed Industrys like the US with highest population base holds the notable Industry share in 2017 and it is projected to grow strongly in the coming years.
Global Car Rental Industry Share by 2025
Amongst vehicle types such as Economy cars, Executive cars, Luxury cars and SUVs & MUVs, it is observed that the Economy cars segment because of the growing popularity and availability is expected to hold the highest Industry share during the forecasted period.
The Major Market Players in Car Rental Industry are Europcar, Avis Budget Group Inc., Enterprise Holdings Inc., Carzonrent India Pvt Ltd., The Hertz Corporation, Alamo, Sixt SE and other 13 companies brief information is provided in the report. The Hertz Corporation holding the substantial Industry share because of its better global presence both at production and at an operational level. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
Car Rental Industry Overview By Rental Category
Car Rental Industry Overview By Vehicle Type
Multi Utility Vehicles (MUVs)
Sports Utility Vehicles (SUVs)
Car Rental Industry Overview By Mode of Booking
Car Rental Industry Overview By Region
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa