The global car rental industry looks good with opportunities in the off- airport and on-airport market segment. The global car rental industry is expected to reach an estimated $99.6 billion by 2022 and it is forecast to grow at a CAGR of 5.5% from 2017 to 2022. The major drivers of growth for this market are increase in international air travelers and increase in the volume of domestic tourists.
Emerging trends, which have a direct impact on the dynamics of the car rental industry, include enhanced user experience through digitization, additional green vehicles in the fleets of rental car companies, introduction of autonomous vehicles, enhanced technologies in car rental services, and the concept of self-driving instead of hiring a driver.
Within the global car rental industry, the leisure customer segment is expected to remain the largest market. With a rise in air travel and domestic tourism, and recovery in the GDP level, the number of the leisure customers in is expected to increase, which will spur growth for this segment over the forecast period.
North America is expected to remain the largest region due to high quality road infrastructure and limited railways. Increasing investment opportunities in different industries, gains in per capita disposable income, and increasing corporate travel will drive car rental demand in North America.
Car rental companies profiled in this market include Enterprise Rent-A-Car, Hertz Global Holdings, Inc., Avis Budget Group Inc., Europcar Groupe S.A., and Sixt AG are the major car rental service providers in the global car rental industry.
Key Topics Covered:
1. Executive Summary
2. Market Background and Classifications
3. Industry Trends and Forecast Analysis from 2011 to 2022
4. Industry Trends and Forecast Analysis by Region