Car Rental Market Growth, Trends, and Forecast, 2021-2031

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Car Rental Market to Undertake Strapping Growth during 2031 Date: March 29, 2022 Author: Tech News

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Transparency Market Research delivers key insights into the global car rental market. In terms of revenue, the global car rental market is estimated to expand at a CAGR of 6% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global car rental market.

Companies are expanding their range of car rentals by adding different technologies. Manufacturers are increasing their partnerships with different international and local distributors to have a better reach in every region.

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In terms of car, the economy car is majorly used for car rental. The cost- Follow effectiveness of purchasing the car and the high availability of these cars are driving the market growth.

Based on category, the airport transfer segment accounts for the highest share in the global car rental market owing to increasing leisure and business travel among international and domestic consumers.

In terms of customers, the leisure segment is expected to hold the dominant market share during the forecast period. Most business trips are getting canceled or not taking place due to COVID-19 as businesses have now come to the virtual platform. After conditions improved, people have started taking a lot of vacations after the pandemic, resulting in an increase in travel and demand for car rental services.

In terms of booking, the online segment holds the largest market share due to the growing number of mobile-based platforms such as Uber, and Lyft. This will continue to fuel sales in this segment during the forecast period.

Based on rental length, short-term trips have the highest share in the market owing to the increase in short leisure trips undertaken by millennials.

Based on fare price, economy price is preferred by consumers as this gives them the ability to travel more via rental cars.

Based on end-use, chauffeur-driven cars have the highest market share.

However, the self-driven segment is expected to expand during the forecast period due to an increase in the adoption of services such as Zoomcar, and millennials preferring to drive themselves on vacations.

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Car Rental Market: Prominent Regions The global car rental market has been divided into North America (U.S., Canada, and the Rest of North America), Europe (U.K., Germany, France, and Rest of Europe), Asia Paci c (China, India, Japan, and the Rest of Asia Paci c), Middle East & Africa (GCC, South Africa, and Rest of MEA), and South America (Brazil and Rest of South Africa). The global car rental market is dominated by North America due to increasing in the number of leisure and business trips undertaken both locally and internationally.

A steady movement in consumer preference toward rental services, as well as the presence of major service providers in the region, such as Avis Budget Group and Enterprise Rent-a-Car, is likely to boost revenue generation opportunities in North America.

Car Rental Market: Key Players Key players operating in the global car rental market are Alamo, Avis Rent A Car System, LLC, Budget Rent A Car System, Inc., Carzonrent India Pvt Ltd., Enterprise Holdings, Inc., Europcar, The Hertz Corporation, Localiza, National Car Rental, Sixt Group, etc.

Inquiry Before Buying: https://www.transparencymarketresearch.com/sample/sample.php? ag=EB&rep_id=1633 Global Car Rental Market: Segmentation Car Rental Market, by Car Luxury Car Executive Car Economy Car

Economy Car SUV Car MUV Car Car Rental Market, by Category Airport Transfer Off Airport Local Usage Outstation Others Car Rental Market, by Customer Business Leisure Car Rental Market, by Booking Online Of ine Car Rental Market, by Rental Length Short Term Long Term Car Rental Market, by Fare Price Economy Premium

Car Rental Market, by End-use Self-driven Chauffeur Driven TMR Latest News Publication: Marine Insurance Market – The marine transport industry has expanded substantially over the years. The rising awareness about the bene ts of transporting goods and services through waterways has been crucial for boosting the growth trajectory of the marine insurance market.

About Us Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forwardlooking insight for thousands of decision-makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information. Now avail exible Research Subscriptions, and access Research multi-format through downloadable databooks, infographics, charts, the interactive playbook for data visualization, and full reports through MarketNgage, the uni ed market intelligence engine. Sign Up for a 7-day free trial!

Contact Rohit Bhisey Transparency Market Research USA – Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com Blog: https://tmrblog.com/ Follow Us: Twitter | LinkedIn

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