“With more than 250mn users globally Car Rental market is projected to reach US $90bn in value by 2030” says new Visiongain report
11 March 2020
Visiongain’s new report the Car Rental Market Report 2020-2030: Forecasts by End-use (Local Usage, Airport Transport, Outstation, Others) & by Vehicle Type (Luxury Cars, Executive Cars, Economy Cars, SUV’s, MUV’s), Analysis of Technological Advancements Driving the Market.
The Car Rentals segment contains vehicle rentals for private use that have been booked via the internet or an app. The car rental booking volume includes all booked travels made by users from the selected region, independent of the departure and arrival. Customers represent people who booked travels, independent of the number of travellers. This segment takes into account time-based rental deals with upfront fixed costs from professional car rental services such as SIXT, Hertz, and Budget.
The Car Rentals market segment is considered not only as an alternative to other mobility services but also as a complementary service. Visiongain expect that the worldwide growth in travel and tourism sector, as well as in increase in a global number of flights taken, will also result in the increase of the market volume of Car Rentals thereby driving the revenue growth in the global car rental market. Since renting cars offline (e.g. at airports) is still very popular, we predict a slower growth of the online market on the cost of the offline.
The Car Rental market has been analysed on the basis of two segments namely End-use and Vehicle Type. The market is projected to grow at a CAGR of 4.0% during the forecast period, to reach $90.5 bn by 2030. The demand for Car Rental is expected to grow at a rapid pace in the forthcoming years. With a market volume (number of users) of 263.2mn in 2020, most of the revenue is generated in the United States.
The 161-page report offers market forecasts and analysis for 10 leading national markets and the rest of the world market. In addition, the report contains a dedicated leading companies’ chapter covering more than 13 companies leading the field in Car Rental Market.
The Car Rental Market Report 2020-2030 report will be of value to anyone who wants to better understand the Car Rental market and its various segments. It will be useful for businesses who wish to better comprehend the part of the market they are already involved in, or those wishing to enter or expand into a different regional or technical part of the Car Rental industry.
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