Car rental market to show impressive expansion by 2027 to reach US$220.0 billion at a CAGR of 13.6%
Chester T. Dean
4 min read
The car rental service is a car rental agency that allows the customer to rent cars at affordable rates.
SEEATLE, WA, USA, February 22, 2022 /EINPresswire.com/ โ car rental market service is a car rental agency that allows the customer to rent cars at affordable rates. This agency is usually located near airports and busy urban areas. Car rental market services are mainly chosen by people who need a vehicle on a temporary basis and do not wish to own a car. Moreover, Car Rental Marketโs services are also ideal for owners of damaged vehicles and looking for repair or insurance compensation. In addition, car rental market services also offer additional benefits such as navigation systems, entertainment systems, portable Wi-Fi, insurance and child safety seats.
๐๐ก๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐๐๐ซ ๐ซ๐๐ง๐ญ๐๐ฅ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ข๐ฌ ๐ฉ๐ซ๐จ๐ฃ๐๐๐ญ๐๐ ๐ญ๐จ ๐ฌ๐ฎ๐ซ๐ฉ๐๐ฌ๐ฌ ๐๐ ๐๐๐.๐ ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง $ ๐๐ฒ ๐ญ๐ก๐ ๐๐ง๐ ๐จ๐ ๐๐๐๐, ๐ข๐ง ๐ญ๐๐ซ๐ฆ๐ฌ ๐จ๐ ๐ซ๐๐ฏ๐๐ง๐ฎ๐, ๐ ๐ซ๐จ๐ฐ๐ข๐ง๐ ๐๐ญ ๐๐๐๐ ๐จ๐ ๐๐.๐% ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐ (๐๐๐๐ ๐ญ๐จ ๐๐๐๐).
Rapid growth in GDP rates in developing countries is expected to drive the growth of the car rental market. This is attributed to the increase in the per capita income of consumers in the region. Moreover, the improvement in car rental service such as easy rental process and other benefits offered is also expected to contribute to the growth of the car rental market over the forecast period.
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Major key players in the car rental market: Enterprise Holdings, The Hertz Corporation, Avis Budget Group, Europcar Group, Carzonrent, Sixt SE, Al Futtaim Group, Localiza โ Rent a Car, Eco Rent a Car and GlobalCARS
๐๐ฒ๐๐ฎ๐ถ๐น๐ฒ๐ฑ ๐ฆ๐ฒ๐ด๐บ๐ฒ๐ป๐๐ฎ๐๐ถ๐ผ๐ป
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Long distance/local use
At the airport
Intra-City/Outer Station
Others
???
luxury cars
Executive cars
Economy cars
SUV
VUM
๐๐ฅ๐จ๐๐๐ฅ ๐๐๐ซ, ๐๐ฒ ๐๐๐ ๐ข๐จ๐ง:
North America
Canada
Europe
Germany
UK
Russia
The rest of Europe
๐๐ฒ๐ ๐ณ๐ฒ๐ฎ๐๐๐ฟ๐ฒ๐ ๐ผ๐ณ ๐๐ต๐ฒ :
โคThis report provides an in-depth analysis of the global car rental market size (USD Billion and Million Tons) and Compound Annual Growth Rate (CAGR%) for the forecast period (2020-2027), considering 2019 as the reference year.
โคIt elucidates potential revenue opportunities in different segments and explains an attractive investment proposition matrix for this market.
โคThis study also provides key insights into market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players.
โคIt profiles the leading players in the global car rental market based on the following parameters: company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans.
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๐๐ฟ๐ฒ๐พ๐๐ฒ๐ป๐๐น๐ ๐๐๐ธ๐ฒ๐ฑ ๐ค๐๐ฒ๐๐๐ถ๐ผ๐ป๐
Q. How big will the market be in 2027 and at what rate will it grow?
Q. What are the major growth factors of the global car rental market during the forecast period?
Q. What are the trends in the global car rental market?
Q. What are the major factors hindering the growth of the global car rental market?
Q.Who are the key players that form the competitive landscape?
Q. What is the current market size?
๐๐ฎ๐ฟ ๐ฅ๐ฒ๐ป๐๐ฎ๐น ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ โ ๐ผ๐ณ ๐ผ๐ณ (๐๐ผ๐๐ถ๐ฑ-๐ญ๐ต)
Companies around the world are increasingly asking employees to work from home, which has led to reduced travel in cities and non-essential travel has decreased significantly during the pandemic situation. This scenario is expected to continue to reduce the demand for car rental services across the world. For example, Hertz Global Holdings Inc. faced an increase in cancellations and a lack of new reservations. The company has laid off staff and reduced its high capital expenditure to reserve cash.
PRESS RELEASE:-
Car rental market- https://www.coherentmarketinsights.com/press-release/car-rental-market-3171
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