The Car Rental Global Market Report 2023, provides comprehensive information on the car rental market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The Car Rental Market’s Growth:
https://www.thebusinessresearchcompany.com/report/car-rental-global-market-report
As per The Business Research Company’s Car Rental Global Market Report 2023, the global car rental market size is expected to grow from $94.75 billion in 2022 to $102.29 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global car rental market size is expected to reach $136.02 billion in 2027 at a CAGR of 7.4%.
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Technological advancements are the key trends gaining popularity in the car rental market. Companies operating in the car rental market are adopting new technologies to sustain their position in the market. For instance, in October 2022, The Growr Inc., a UK-based self-driving car rental company, launched the ‘AI Smart Drive’ self-driving cars in the car rental industry. AI (artificial intelligence) Smart Drive is an innovation in the car rental industry that enables the incorporation of self-driving vehicles into already-available rental services. The Growr’s self-driving automobiles are also referred to as driverless or autonomous vehicles. They represent unique technological advances. These vehicles use a collection of sensors to sense their surroundings and move safely with little to no human intervention. The goal of AI Smart Drive is to offer fully autonomous automobiles.
The car rental market is segmented:
1) By Vehicle Type: Luxury Cars, Executive Cars, Economy Cars, SUVs, MUVs
2) By Booking Type: Online, Offline
3) By Application: Local Usage, Airport Transport, Outstation, Other Applications
4) By End User: Self-Driven, Chauffeur-Driven
North America was the largest region in the car rental market in 2022.
The table of contents in TBRC’s car rental market report includes:
1. Executive Summary
2. Car Rental Market Characteristics
3. Car Rental Market Trends And Strategies
4. Car Rental Market – Macro Economic Scenario
5. Car Rental Market Size And Growth
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26. Africa Car Rental Market
27. Car Rental Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Car Rental Market
29. Car Rental Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Enterprise Rent-A-Car LLC
- The Hertz Corporation
- SIXT Car Rental
- Europcar Rental Company
- Avis Budget Group Inc
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players
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