Global Car Rental Market (2019 Edition)

Date: 1 September 2019

According to the research report published by Azoth Analytics in August 2019, the Global Car Rental Market was valued at USD 79.54 Billion in the year 2018. On a global scale, the market for car rental services has been growing at a high pace on the back of key factors such as rising economy, ongoing mobility shift towards alternative transport solutions as well as increasing disposable income. Apart from these fundamental attributes, technological advancements taking place in the car renting technology as a result of high internet & smartphone usage, have also been instrumental in impelling growth in the market, over the past few years.

The Azoth Analytics research report titled “Global Car Rental Market (2019 Edition): Forecast to 2024” has analysed and segmented the Car Rental market. The report presents the analysis of Car Rental Market By Customer (Business and Leisure), By Application (Airport and Off-Airport) and By Vehicle Type (Economy, Executive, Luxury, MUV and SUV). The Global Car Rental Market has been analysed By Region (North America, Europe, APAC and Rest of the World) and By Country (United States, Canada, France, Germany, United Kingdom, China, India, Brazil, Saudi Arabia and U.A.E) for the historical period of 2014-2018 and the forecast period of 2019-2024.

In the forthcoming period, the global car rental market is projected to display robust growth, driven by increasing urbanization, changing lifestyle and deteriorating local transport conditions. Above and beyond, growing internet usage and easy access of car renting is also anticipated to give an additional boost to the global market in the coming years. On the basis of customer, the segment of leisure car rentals has developed at a remarkable rate since its growth is rooted in the bourgeoning tourism industry. In the recent times, large number of local players have entered in the market, and are constantly increasing the car renting amenities and fleet type to provide best quality service and ensure maximum comfort to the customers.