Italy Car Rental Market Outlook to 2027F

Italy Car Rental Market Outlook to 2027F

The report provides a comprehensive analysis of the potential of the Car Rental industry in Italy. The report covers an overview and genesis of the industry, and market size in terms of revenue and fleet size.

Its market segmentations include By Market Structure, By Type of Vehicles, By ICE/EV, By Cities, By Mode of Booking, By Client, and By Pick-up; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.

Market Overview:

According to Ken Research estimates, the Italy Car Rental Market – which grew from approximately $ ~ Bn in 2017 to approximately $ ~ Bn in 2022P – is forecasted to grow further into a $ ~ Bn opportunity by 2027F, owing to the expansion of the tourism industry, online booking accessibility and the initiatives taken by the government.

Italy Car rental market was valued at USD ~ Billion in 2021 and is projected to grow to USD ~ Billion by 2027, registering a CAGR of ~% in terms of revenue during the forecast period (2022P-2027).

The growing penetration rate of the internet and smartphones are driving more people to rent a car as the services are mainly provided through online platforms.

Key Trends by Market Segment:

By Mode of Booking: Online booking dominates the Italy car rental market in terms of revenue in 2021 and is registers significant growth in terms of revenue during the forecast period. The rise in the use of the internet and mobile phone applications across the country is likely to enhance the use of online booking platforms.

By Client: Leisure trips are projected to hold a significant market share with the increasing number of tourist arrivals contributing to increasing the country’s GDP as well.

Competitive Landscape

There are around ~ plus market players in the car rental industry in Italy in which Avis, Europecar, Alamo and Hertz are the key players in the Car Rental Market, generated nearly ~% share in the market in terms of revenue.

Future Outlook

Italy’s car rental market is projected to witness a CAGR of ~% between 2022P to 2027F. Travel & Tourism Industry in Italy is a major contributor to the GDP and employment of that country. It has become a key focus area for the Government’s growth strategy.

The number of international travellers arriving in Italy has been on a constant rise over the years. This is expected to support the growth of the car rental market as travellers prefer booking cars in advance for their trips for the sake of convenience.

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