SAN FRANCISCO, Sept. 17, 2020 (GLOBE NEWSWIRE) -- Data Bridge Market Research published a new report, titled, “Car Rental Market Growth, Trends, Opportunities and COVID-19 Impacts”. Car Rental is the most promising market research report which has been framed in the way foreseen. The report is generated based on the market type, size of the organization, availability on-premises, the end-users’ organization type, and the availability in areas such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. All statistical and numerical data is interpreted in this market report with the use of established and advanced tools such as SWOT analysis and Porter's Five Forces Analysis. A large scale Car Rental market report helps uncover the general market conditions and tendencies.
This market report describes the strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the Automotive industry. Car Rental market study analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, and distributors. For structuring such finest market research report, a devoted team of experienced forecasters, well-versed analysts and knowledgeable researchers work painstakingly. The Car Rental market research report provides market data for several segments such as technologies, services and applications across many geographical areas.
Data Bridge Market Research Report On Global Car Rental Market Provides Analysis And Insights Regarding The Various Factors Expected To Be Prevalent Throughout The Forecast Period While Providing Their Impacts On The Market’s Growth. Car rental market is expected to reach USD 167.69 billion by 2027 witnessing the market growth at a rate of 7.4% in the forecast period of 2020 to 2027.
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With more destinations reopening their borders to tourism, travel is gradually coming back. But while travelers are growing more confident with each passing day, not all modes of travel are considered equal in terms of perceived safety.
Each vehicle is rigorously cleaned between every rental. Enterprise's elevated measures include washing, vacuuming, a general wipe down and sanitizing with a disinfectant that meets leading health authority requirements. Employees are also trained to thoroughly sanitize more than 20 high-touch points, which include the key or key fob, steering wheel, door handles, gear stick or gear shift, mirrors and cupholders, among others.
Type of vehicle: Economy and compact vehicles were similar in price. A Toyota RAV4 cost $55 per day, without taxes, while an Infiniti/Cadillac Crossover cost $149. Age: Drivers younger than 25 can pay up to $25 more. Type of vehicle: A full-size rental cost about $20 more, while a standard SUV cost $97.23 for two days
North America is dominating the car rental market due to the highest share in the global car rental market in terms of revenue and is anticipated to exhibit huge growth rate during the forecast period.
Note – The COVID-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Care Rental Market’ provides the analysis on impact on COVID-19 on various business segments and country markets. The reports also showcase market trends and forecast, factoring the impact of COVID-19 Situation. The impacts of COVID-19 told from a statistical perspective and post COVID-19 opportunities @ https://www.databridgemarketresearch.com/covid-19-impact/global-car-rental-market
Global Car Rental Market Segmentation
- By Type (Luxury Cars, Executive Cars, Economy Cars, SUVs, MUVs)
- Application (Local Usage, Airport Transport, Outstation and Others)
- Booking (Offline Booking and Online Booking)
- End-Use (Self-Driver and Chauffeur – Driven)
- Fare Price (Economy/Budget Cars, Luxury/Premium Cars)
- Rental Length (Short Term and Long Term)
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The Major Top 5 Players Covered In The Global Car Rental Market With Full Detailed Report
1] Avis Budget Group-
A giant in the vehicle rental realm, Avis has been in business for over 70 years. The company and its subsidiaries operate in 165 countries and has been recognized with awards on every continent (except Antarctica, natch).
Undoubtedly, much of Avis’s success comes from the goodwill the company has generated with its Best Price Pledge service, which allows a customer who finds better rates with other companies to claim matching rates — and then take an additional 10% off.
Loyalty program: The Avis Preferred Car Rental Program offers customers expedited service, the ability to select their vehicle via the company’s app, and more benefits. Members also earn points toward rewards (with Preferred Plus members earning at higher rates).
Outlets worldwide: 5,500
Google Play Store app score: 3.9 out of 5
Price quote: $455.99
2] Sixt-
A mainstay in Germany, Sixt broke into the US market in 2011 and has already made huge inroads — last year, Kayak ranked Sixt the fourth-best car rental company in the US, based upon customer reviews.
The company’s business model differs slightly from that of others in that it offers more vehicle rent classes (such as convertibles, pickup trucks, SUVs, and sports cars), as well as better rates on a luxury car. So far, it seems to be working.
Loyalty program: Sixt offers express cards that allow bearers to earn points on the money they spend. Beyond the regular express cards, there are multiple tiers (Gold, Platinum, and Diamond) that offer discounts and additional benefits.
Outlets worldwide: 2,100
Google Play Store app score: 4.7 out of 5
Price quote: $244.83
3] Enterprise Holdings-
Enterprise has been around for over 60 years and has grown into one of the most respected and ubiquitous companies in all of vehicle rental. Earlier this year, the company cleaned up at the Travvy Awards, winning four gold honors and one silver in the category of Best Car Rentals.
It also helps that the company prides itself on giving back — Enterprise has promised $60 million to help fight hunger globally, and will be planting 1 million trees in the US each year for the next 50 years.
Enterprise’s USP — unique selling proposition — has been that it picks customers up and brings them to the rental office, an extra service that could also help explain the company’s presence on this list.
Loyalty program: Enterprise Plus offers several reward tiers that each give drivers bonus points on qualifying rental dollars and free car upgrades. The number of vehicle rentals you get per year determines your tier eligibility.
Outlets worldwide: 8,000
Google Play Store app score: 4.7 out of 5
4] The Hertz Corporation-
Hertz narrowly edged out Enterprise as the top company in J.D. Power’s 2019 rankings (the order was reversed in 2018), and it’s not hard to see why customers are so satisfied — the host of awards the company has won just over the past couple of years for its customer service speaks to its continued performance across all key metrics.
Hertz encourages repeat customer business by offering incentives for frequent clients, such as reward points and e-return options.
Loyalty program: The Hertz Gold Plus Rewards Program offers benefits for any frequent renter, such as skip-the-counter pickup and e-return, expedited exit gate times, and a wider variety of vehicle choices. Renters also earn points toward future rentals or other perks.
Outlets worldwide: 10,200
Google Play Store app score: 4.7 out of 5
Price quote: $618.92
5] National Car Rental-
National may be a division of Enterprise, but the company consistently receives high service rankings and positive customer reviews of its own accord. National has over 1,500 service locations worldwide and prides itself on its vehicle selection, which includes more than 40 class options of cars, trucks, SUVs and vans.
Loyalty program: Joining National’s Emerald Club allows you to skip the counter and earn rewards on your booking — two benefits that make the process smoother for business travelers.
Outlets worldwide: 1,500
Google Play Store app score: 4.7 out of 5
Price quote: $690.62
Europcar, Localiza,Carzonrent India pvt ltd, Eco Rent a Car, Advantage OPCO, LLC, Shenzhen Topone Car Rental Co. LtdBettercar Rental, among other domestic and global players.
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| Table of Contents: Car Rental Market | |||
| Part 01: Executive Summary | |||
| Part 02: Scope of the Report | |||
| Part 03: Research Methodology | |||
| Part 04: Market Landscape | |||
| • | Market Ecosystem | ||
| • | Market Characteristics | ||
| • | Market Segmentation Analysis | ||
| Part 05: Pipeline Analysis | |||
| • | Pipeline Analysis | ||
| Part 06: Market Sizing | |||
| • | Market Definition | ||
| • | Market Sizing | ||
| • | Market Size And Forecast | ||
| Part 07: Five Forces Analysis | |||
| • | Bargaining Power Of Buyers | ||
| • | Bargaining Power Of Suppliers | ||
| • | Threat Of New Entrants | ||
| • | Threat Of Substitutes | ||
| • | Threat Of Rivalry | ||
| • | Market Condition | ||
| Part 08: Market Segmentation | |||
| • | Segmentation | ||
| • | Comparison | ||
| • | Market Opportunity | ||
| Part 09: Customer Landscape | |||
| Part 10: Regional Landscape | |||
| • | Geographical Segmentation | ||
| • | Regional Comparison | ||
| • | North America | ||
| • | South America | ||
| • | Europe | ||
| • | MEA | ||
| • | APAC | ||
| • | Market Opportunity | ||
| Part 11: Decision Framework | |||
| Part 12: Drivers and Challenges | |||
| • | Market Drivers | ||
| • | Market Challenges | ||
| Part 13: Market Trends | |||
| Part 14: Vendor Landscape | |||
| • | Overview | ||
| • | Landscape Disruption | ||
| Part 15: Vendor Analysis | |||
| • | Vendors Covered | ||
| • | Vendor Classification | ||
| • | Market Positioning Of Vendors | ||
| Part 16: Appendix | |||
| • | List Of Abbreviations | ||
See The Complete Table of Contents and List of Exhibits, As Well As Selected Illustrations And Example Pages From This Report.
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Frequently Asked Questions:
- What is the year-over-year growth of the car rental market in 2020?
Ans- As per Technavio, the year-over-year growth of the market in 2020 is 16.50%.
- Based on segmentation by type, which is the leading segment in the market?
Ans- Economy cars.
- What is the key factor driving the market?
Ans- Incorporation of advanced digital technologies.
- At what rate is the market projected to grow?
Ans- The market is projected to grow at a CAGR of over 17% during 2020-2024.
- Who are the top players in the market?
A. Avis Budget Group Inc., Carzonrent India Pvt. Ltd., Enterprise Holdings Inc., Europcar Mobility Group SA, Expedia Group Inc., Hertz Global Holdings Inc., Localiza Rent a Car SA, Movida Participações SA, SIXT SE, and Turo Inc. are the top players in the market.
Key Highlights of the Car Rental Report:
- Car Rental Study Coverage:
- It incorporates key market sections, key makers secured, the extent of items offered in the years considered, worldwide Car Rental and study goals. Moreover, it contacts the division study gave in the report based on the sort of item and applications.
- It incorporates key market sections, key makers secured, the extent of items offered in the years considered, worldwide Car Rental and study goals. Moreover, it contacts the division study gave in the report based on the sort of item and applications.
- Car Rental Executive Outline:
- This area stresses the key investigations, market development rate, serious scene, market drivers, patterns, and issues notwithstanding the naturally visible pointers.
- This area stresses the key investigations, market development rate, serious scene, market drivers, patterns, and issues notwithstanding the naturally visible pointers.
- Car Rental Production by Region:
- The report conveys information identified with import and fare, income, creation, and key players of every single local market contemplated are canvassed right now.
- The report conveys information identified with import and fare, income, creation, and key players of every single local market contemplated are canvassed right now.
- Car Rental Profile of Manufacturers:
- Analysis of each market player profiled is detailed in this section. This portion likewise provides SWOT investigation, items, generation, worth, limit, and other indispensable elements of the individual player.
The major points that are covered:
- Overview: In this section, definition of the global Car Rental is given along with the overview of the report in order to give a board outlook about the nature and contents of the research study.
- Industry Players’ Strategies Analysis: The market players will be benefitted from this analysis as it will help to gain competitive advantage over their competitors.
- Key Market Trends: In this section, in-depth analysis of the market’s latest and future trends is discussed.
- Market Forecasts: The research analysts have provided accurate and validated values of the total market size in terms of value and volume. Other offerings in the report include consumption, production, sales, and other forecasts for the global Car Rental.
- Regional Analysis: Major five regions and its countries have been covered in the global Car Rental report. With the help of this analysis, market players will have estimates about the untapped regional markets and other benefits.
- Segment Analysis: Accurate and reliable forecasts about the market share of the important segments of the Car Rental is provided.
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Competitors – In this section, various Car Rental industry-leading players are studied with respect to their company profile, product portfolio, capacity, price, cost, and revenue.
Supply and Consumption – In continuation of sales, this section studies supply and consumption for the Car Rental Market. This part also sheds light on the gap between supply and consumption. Import and export figures are also given in this part
Production Analysis – Production of the Car Rental is analysed with respect to different regions, types and applications. Here, price analysis of various Car Rental Market key players is also covered.
Sales and Revenue Analysis – Both, sales and revenue are studied for the different regions of the Car Rental Market. Another major aspect, price, which plays an important part in the revenue generation, is also assessed in this section for the various regions.
Other analyses – Apart from the information, trade and distribution analysis for the Car Rental Market
Competitive Landscape – Company profile for listed players with SWOT Analysis, Business Overview, Product/Services Specification, Business Headquarter, Downstream Buyers and Upstream Suppliers.
Note – In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19.
Thanks for reading this article you can also get individual chapter wise section or region wise report versions like North America, Europe, or Asia Etc.
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