Global Car Rental Market Growth (Status and Outlook) 2023-2029

Global Car Rental Market Growth (Status and Outlook) 2023-2029

Car or vehicle rental service is relatively developed in the industrialized economies. A car rental, hire car, or car hire company provides vehicles on rent for short periods of time, generally ranging from a few hours to a few weeks. Car rental providers have a number of local branches and offices near airports, bus stops, railway station, and busy city areas. The key vendors that provide vehicle rental services mainly focus on customer's requirements, growth, innovation, and offers that attract customers and efficiency.

LPI (LP Information)' newest research report, the “Car Rental Industry Forecast” looks at past sales and reviews total world Car Rental sales in 2022, providing a comprehensive analysis by region and market sector of projected Car Rental sales for 2023 through 2029. With Car Rental sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Car Rental industry.

This Insight Report provides a comprehensive analysis of the global Car Rental landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Car Rental portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Car Rental market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Car Rental and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Car Rental.

The global Car Rental market size is projected to grow from US$ million in 2022 to US$ million in 2029; it is expected to grow at a CAGR of % from 2023 to 2029.

The impact of information technology in the industry has driven the transformation of the car rental services. The growing trend of using the Internet for customizing travel trips and online reservations & bookings is anticipated to propel the use of technology in the industry. The implementation of technology in these services makes the whole process safe, quick, reliable, and easy for consumers. In addition to this, the hassle-free process of online reservations and bookings increases convenience for both, the operators and customers.

This report presents a comprehensive overview, market shares, and growth opportunities of Car Rental market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Luxury Cars
Executive Cars
Economy Cars
SUVs
MUVs

Segmentation by application
Local Usage
Airport Transport
Outstation

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Avis Budget
Carzonrent
Enterprise Holding
Europcar
Hertz
Sixt

Please note: The report will take approximately 2 business days to prepare and deliver.