Tourism Vehicle Rental Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast The global tourism vehicle rental market size was valued at USD 57.63 billion in 2020 and is expected to expand at a CAGR of 8.3% during the forecast period, 2021–2028. The growth of the market is attributed to growing urbanization and government incentives that attracts new entrants to purchase cars.
A tourism rental vehicle is a self-propelled vehicle capable of providing temporary housing or used by tourists to travel on a rental basis. Automobile rentals, companies provide extra services such as GPS navigation systems, insurance, entertainment systems, portable Wi-Fi, and child safety seats. The tourist sector benefits from the socio-economic progress of countries across the world. The rental vehicle sector is growing in parallel with the tourism industry. Vehicles are often rented for a short period of time, extending from a few hours to a few weeks. Request Sample link :- https://growthmarketreports.com/request-sample/2473
Market Trends, Drivers, Restraints, and Opportunities
The provision of agencies that allow users to return a car to a different place is expanding the demand for rental cars, driving the market growth. Government's investments on tourist places and increasing consumer disposable income are expected to drive the market growth. Changing lifestyle is acting as a major factor spurring the market growth.