Car Rental Services Market Opportunities 2031
Car rental services are a process of hiring/renting a car for a limited period from a rental company. Various companies like Uber Technologies, Europcar rent the vehicles for a short period ranging from few hours to weeks. The different types of cars rented by the company include Luxury Car, executive car, and economical car among others. Additionally, vehicle renting agencies also offer other products such as insurance, entertainment systems, and GPS among other services.
MARKET DYNAMICS
The car rental services market is anticipated to grow in the forecast period owing to driving factors such as rapid urbanization, rising disposable income, and the growing popularity of outstation tours. The market is likely to showcase opportunities for the untapped markets and increasing awareness about air pollution.
MARKET SCOPE
The "Global Car Rental Services Market Analysis to 2031" is a specialized and in-depth study of the car rental services industry with a special focus on the global market trend analysis. The report aims to provide an overview of the car rental services market with detailed market segmentation by car type, rental category, and geography. The global car rental services market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading car rental services market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global car rental services market is segmented on the basis of the car type and rental category. Based on car type, the market is segmented as Luxury Car, Executive Car, Economical Car, Sports Utility Vehicle (SUV), and Multi Utility Vehicle (MUV). On the basis of the rental category, the market is segmented as On Airport and Off-Airport.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global car rental services market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The car rental services market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trends and opportunities prevailing in the region.
The report analyzes factors affecting the car rental services market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the car rental services market in these regions.
Have a question?
Naveen
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global car rental services market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The car rental services market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trends and opportunities prevailing in the region.
The report analyzes factors affecting the car rental services market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the car rental services market in these regions.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
- CAR RENTAL SERVICES Market - By Car Type
- CAR RENTAL SERVICES Market - By Rental Category
- CAR RENTAL SERVICES Market - By Region
- CAR RENTAL SERVICES Market-By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. CAR RENTAL SERVICES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. ECOSYSTEM ANALYSIS
4.3. PEST ANALYSIS
4.3.1. North America - PEST Analysis
4.3.2. Europe - PEST Analysis
4.3.3. Asia Pacific (APAC) - PEST Analysis
4.3.4. Middle East & Africa (MEA) - PEST Analysis
4.3.5. South America (SAM)- PEST Analysis
5. CAR RENTAL SERVICES MARKET - KEY INDUSTRY DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. CAR RENTAL SERVICES MARKET - GLOBAL MARKET ANALYSIS
6.1. CAR RENTAL SERVICES - GLOBAL MARKET OVERVIEW
6.2. CAR RENTAL SERVICES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/ MARKET SHARE
7. CAR RENTAL SERVICES MARKET REVENUE AND FORECASTS TO 2028 - CAR TYPE
7.1. OVERVIEW
7.2. CAR TYPE MARKET FORECASTS AND ANALYSIS
7.3. LUXURY CAR
7.3.1. Overview
7.3.2. Luxury Car Market Forecast and Analysis
7.4. EXECUTIVE CAR
7.4.1. Overview
7.4.2. Executive Car Market Forecast and Analysis
7.5. ECONOMICAL CAR
7.5.1. Overview
7.5.2. Economical Car Market Forecast and Analysis
7.6. SPORTS UTILITY VEHICLE (SUV)
7.6.1. Overview
7.6.2. Sports Utility Vehicle (SUV) Market Forecast and Analysis
7.7. MULTI UTILITY VEHICLE (MUV)
7.7.1. Overview
7.7.2. Multi Utility Vehicle (MUV) Market Forecast and Analysis
8. CAR RENTAL SERVICES MARKET REVENUE AND FORECASTS TO 2028 - RENTAL CATEGORY
8.1. OVERVIEW
8.2. RENTAL CATEGORY MARKET FORECASTS AND ANALYSIS
8.3. ON AIRPORT
8.3.1. Overview
8.3.2. On Airport Market Forecast and Analysis
8.4. OFF AIRPORT
8.4.1. Overview
8.4.2. Off Airport Market Forecast and Analysis
8.4.2.1. Local
8.4.2.1.1. Overview
8.4.2.1.2. Local Market Forecast and Analysis
8.4.2.2. Outstation
8.4.2.2.1. Overview
8.4.2.2.2. Outstation Market Forecast and Analysis
9. CAR RENTAL SERVICES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1. North America CAR RENTAL SERVICES Market Overview
9.1.2. North America CAR RENTAL SERVICES Market Forecasts and Analysis
9.1.3. North America Market Forecasts and Analysis - By Car Type
9.1.4. North America Market Forecasts and Analysis - By Rental Category
9.1.5. North America Market Forecasts and Analysis - By Countries
9.1.5.1. US market
9.1.5.1.1. US Market By Car Type
9.1.5.1.2. US Market By Rental Category
9.1.5.2. Canada market
9.1.5.2.1. Canada Market By Car Type
9.1.5.2.2. Canada Market By Rental Category
9.1.5.3. Mexico market
9.1.5.3.1. Mexico Market By Car Type
9.1.5.3.2. Mexico Market By Rental Category
9.2. EUROPE
9.2.1. Europe CAR RENTAL SERVICES Market Overview
9.2.2. Europe CAR RENTAL SERVICES Market Forecasts and Analysis
9.2.3. Europe Market Forecasts and Analysis - By Car Type
9.2.4. Europe Market Forecasts and Analysis - By Rental Category
9.2.5. Europe Market Forecasts and Analysis - By Countries
9.2.5.1. France market
9.2.5.1.1. France Market By Car Type
9.2.5.1.2. France Market By Rental Category
9.2.5.2. Germany market
9.2.5.2.1. Germany Market By Car Type
9.2.5.2.2. Germany Market By Rental Category
9.2.5.3. Italy market
9.2.5.3.1. Italy Market By Car Type
9.2.5.3.2. Italy Market By Rental Category
9.2.5.4. Russia market
9.2.5.4.1. Russia Market By Car Type
9.2.5.4.2. Russia Market By Rental Category
9.2.5.5. UK market
9.2.5.5.1. UK Market By Car Type
9.2.5.5.2. UK Market By Rental Category
9.2.5.6. Rest of Europe market
9.2.5.6.1. Rest of Europe Market By Car Type
9.2.5.6.2. Rest of Europe Market By Rental Category
9.3. ASIA PACIFIC (APAC)
9.3.1. Asia Pacific CAR RENTAL SERVICES Market Overview
9.3.2. Asia Pacific CAR RENTAL SERVICES Market Forecasts and Analysis
9.3.3. Asia Pacific Market Forecasts and Analysis - By Car Type
9.3.4. Asia Pacific Market Forecasts and Analysis - By Rental Category
9.3.5. Asia Pacific Market Forecasts and Analysis - By Countries
9.3.5.1. South Korea
9.3.5.1.1. South Korea Market By Car Type
9.3.5.1.2. South Korea Market By Rental Category
9.3.5.2. China market
9.3.5.2.1. China Market By Car Type
9.3.5.2.2. China Market By Rental Category
9.3.5.3. India market
9.3.5.3.1. India Market By Car Type
9.3.5.3.2. India Market By Rental Category
9.3.5.4. Japan market
9.3.5.4.1. Japan Market By Car Type
9.3.5.4.2. Japan Market By Rental Category
9.3.5.5. Australia market
9.3.5.5.1. Australia Market By Car Type
9.3.5.5.2. Australia Market By Rental Category
9.3.5.6. Rest of APAC market
9.3.5.6.1. Rest of APAC Market By Car Type
9.3.5.6.2. Rest of APAC Market By Rental Category
9.4. MIDDLE EAST AND AFRICA (MEA)
9.4.1. Middle East and Africa CAR RENTAL SERVICES Market Overview
9.4.2. Middle East and Africa CAR RENTAL SERVICES Market Forecasts and Analysis
9.4.3. Middle East and Africa Market Forecasts and Analysis - By Car Type
9.4.4. Middle East and Africa Market Forecasts and Analysis - By Rental Category
9.4.5. Middle East and Africa Market Forecasts and Analysis - By Countries
9.4.5.1. South Africa market
9.4.5.1.1. South Africa Market By Car Type
9.4.5.1.2. South Africa Market By Rental Category
9.4.5.2. Saudi Arabia market
9.4.5.2.1. Saudi Arabia Market By Car Type
9.4.5.2.2. Saudi Arabia Market By Rental Category
9.4.5.3. UAE market
9.4.5.3.1. UAE Market By Car Type
9.4.5.3.2. UAE Market By Rental Category
9.4.5.4. Rest of MEA market
9.4.5.4.1. Rest of MEA Market By Car Type
9.4.5.4.2. Rest of MEA Market By Rental Category
9.5. SOUTH AMERICA (SAM)
9.5.1. South America CAR RENTAL SERVICES Market Overview
9.5.2. South America CAR RENTAL SERVICES Market Forecasts and Analysis
9.5.3. South America Market Forecasts and Analysis - By Car Type
9.5.4. South America Market Forecasts and Analysis - By Rental Category
9.5.5. South America Market Forecasts and Analysis - By Countries
9.5.5.1. Brazil market
9.5.5.1.1. Brazil Market By Car Type
9.5.5.1.2. Brazil Market By Rental Category
9.5.5.2. Argentina market
9.5.5.2.1. Argentina Market By Car Type
9.5.5.2.2. Argentina Market By Rental Category
9.5.5.3. Rest of SAM market
9.5.5.3.1. Rest of SAM Market By Car Type
9.5.5.3.2. Rest of SAM Market By Rental Category
10. INDUSTRY LANDSCAPE
10.1. MERGERS & ACQUISITIONS
10.2. MARKET INITIATIVES
10.3. NEW DEVELOPMENTS
11. CAR RENTAL SERVICES MARKET, KEY COMPANY PROFILES
11.1. AB CAR RENTAL BONAIRE
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products & Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. AVIS RENT A CAR SYSTEM, LLC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products & Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BUDGET RENT A CAR SYSTEM, INC.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products & Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. EUROPCAR
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products & Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. LOCALIZA
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products & Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. LYFT, INC
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products & Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. SMILE MOBILITY.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products & Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. TEMPEST
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products & Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. THE HERTZ CORPORATION
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products & Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. UBER TECHNOLOGIES, INC
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products & Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. AB Car Rental Bonaire
2. Avis Rent A Car System, LLC
3. Budget Rent A Car System, Inc.
4. Europcar
5. Localiza
6. Lyft, Inc.
7. smile mobility
8. Tempest
9. The Hertz Corporation.
10. Uber Technologies, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For