Car Rental Market To 2024: Key Vehicle Type Categories (SUV, MUV, Luxury Cars, Executive Cars, Economy Cars), End-Use, Regional Segmentation, Competitive Dynamics, M&A Insights, Pricing Analysis (OPP, IPP, RAP) And Segment Forecast

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The global car rental market was valued at USD 45.1 billion in 2015. The market is poised to grow with a lucrative CAGR of nearly 13% from 2016 to 2024. The factors such as rise in tourism, growing number of corporate travelers, and increase in leisure and group activities are expected to provide impetus for future expansion of the market.

 

The car rental market has been evolving rapidly due to technological advancements, increase in per-capita expenditure, and growing demand local and outstation travelers. The car rental operators are extensively utilizing the digital channels for staying relevant, improving service quality; facilitate easy booking, and to promote new products to the customers.

 

The various trends observed in the market indicate strong prospects of market consolidation, shifting consumer preferences, and the growing demand for large sized vehicles such as SUV’s and MUV’s. Furthermore, the volatility in the crude oil prices is also expected to play a vital role in the market growth over the next few years.

 

The market consolidation through and joint ventures and mergers and acquisitions (M&A), to tap the emerging markets with high unmet needs is expected to be a key trend over the next few years. The other innovative collaborations using value added services and shared profit models are expected to positively impact the future growth prospects

 

North AmericaCar RentalMarket, By Type of Vehicle 2014 – 2024 (USD Million)

North America Car Rental Market, By Type of Vehicle 2014 - 2024 (USD Million)

The car rental market is segmented based on vehicle type, end-use, booking type, and region. The segmentation based on vehicle type includes executive cars, economy cars, luxury cars, SUV’s and MUV’s. In 2015, economy cars accounted for the maximum share, however with the increasing disposable income and growing consumer needs, the SUV’s segment is expected to register the maximum growth rate over the forecast period.

 

Based on end-use, the market is categorized as on-airport and off-airport. The off-airport categorization includes local rental, outstation rental, leisure rental and other rentals. The market is dominated by the car rental for airport travelling and this segment is anticipated to extend its dominance over the next few years. The rise in air traffic volume due to domestic and international travelers for corporate and leisure activities is a key factor influencing the market growth.

 

However, the local car rental and outstation rentals are expected to grow rapidly due to surge in tourism, growing demand for office and other institutional transportation, improvement in quality of vehicles, and benefits of hassle free user experience.

 

“Optimal Price Point (OPP) for Car Rental Market”

 

Estimated Average solution cost – $ xx globally. The pricing and business models in the car rental market areunique in different regions. With growth in environmental concerns, technological advancements, and shifting consumer preferences, and increasing number of startup’s, the OPP and range of acceptable Prices (RAP) are going to change over the forecast period. We at Ameri Research continuously track these prices with our proprietary pricing model.

 

“Big data analytics to track consumer behavior and travel patterns”

 

Big data analytics is used to provide precise and accurate business insights to Enterprises.Using these analytical platforms, big data vendors have built application based solutions such as forecasting models, risk modeling and managing customer relationship. Additionally, the enterprises make extensive use of data visualization tools to understand the passenger demands, seasonal business requirement, and to identify new avenues of growth

 

“Notable industry participants include Sixt SE, Avis Budget Group, Europcar, GlobalCARS Oracle and Al FuttaimGroup “

 

Key players include Sixt SE, Avis Budget Group, Inc., Europcar, Localiza Rent a Car SA,Carzonrent India Private Limited (CIPL), Al Futtaim Group, and GlobalCARS, The market participants are deeply relying on technological platforms to improve customer engagement, build new service models, track the consumer travel requirements and estimate the frequency of usage for each customer. The use of technology platforms is also extended to improve vehicle safety, provide high-tech entertainment and real t on traffic and weather patterns. Major industry participants emphasize on seeking correlations across multiple disparate data sources and predicting customer behavior in order to achieve competitive advantage.

 

“Technology and regulatory outlook”

 

The changes in the environmental regulations to curb pollution and to ensure a smooth transition toward green transportation are expected to impact the market over the forecast period.

 

The changes in environmental laws are a major risk for car rental operators. For instance, the sudden ban on diesel vehicles with engine capacity above 2000 cc in the capital city of India, New Delhi was a rude shock to several automobile manufacturers and car rental operators. The ban was however, lifted after a period of eight months with several restrictions and additional green taxes.

 

The high consumption of fossil fuels is a great concern across governments across different regions and this factor is encouraging the utilization of renewable sources and less polluting agents as fuel. The market participants can tap the growing concern of environmental pollution by offering vehicles which run on solar, bio-fuels and can use other green concept in their overall business models.

Chapter 1 Methodology and Scope

  • Research Methodology
  • Research Scope & Assumptions
  • List of Data Sources

Chapter 2 Executive Summary

Chapter 3 Car Rentals Overview

  • Market Ecosystem
  • Key Stakeholders
  • Industry Trends & Analysis

Chapter 4 Car Rentals Industry Outlook

  • Market Overview
  • Market Segmentation
  • Market Size & Growth Prospects
  • Market Analysis by Vehicle Type
    • SUV
    • MUV
    • Luxury Cars
    • Executive Cars
    • Economy Cars
  • Market Analysis by End-Use
    • On-Airport
    • Off-Airport
  • Market Analysis by Booking Type
  • Market Analysis by Geography
  • Leading Brand Dynamics
  • Key Market Drivers
    • Increase in number of air travelers
    • Growing penetration of internet users across the globe
    • High demand due to growing corporate and leisure travel
    • Proliferation of technology and high focus on improving accessibility
  • Key Market Challenges/ Restraints
    • Lack of well-defined quality and safety regulations
    • Uncertainty in global crude oil prices
    • Improvement in public transportation services
  • Key Market Opportunities
    • Growing demand from business and corporate travelers
    • Increasing demand from international and domestic tourists
  • Major Trends & Issues
  • Penetration & Growth Prospects
  • Industry Analysis - Porter’s
  • Car Rentals Market -PESTEL Analysis
  • Technology Landscape

Chapter 5: Pipeline Intelligence

  • Executive Summary
  • Upcoming/ Emerging Products and/or Solutions
  • Key R&D Trends
  • M&A Outlook

Chapter 6: Regional Market Outlook

Car Rentals Market Landscape by Region- 2016
  • North America Market Landscape Analysis, 2014-2024 (USD Bn)
    • U.S. Market Landscape Analysis, 2014-2024
    • Canada Market Landscape Analysis-2014-2024
  • Europe Market Landscape Analysis, 2014-2024 (USD Bn)
    • UK Market Landscape Analysis, 2014-2024
    • Germany Market Landscape Analysis, 2014-2024
    • France Market Landscape Analysis, 2014-2024
    • Italy Market Landscape Analysis, 2014-2024
    • Spain Market Landscape Analysis, 2014-2024
  • Latin America Market Landscape Analysis, 2014-2024 (USD Bn)
    • Brazil Market Landscape Analysis, 2014-2024
    • Mexico Market Landscape Analysis, 2014-2024
    • Colombia Market Landscape Analysis, 2014-2024
  • Asia Pacific Market Landscape Analysis, 2014-2024 (USD Bn)
    • Japan Market Landscape Analysis, 2014-2024
    • China Market Landscape Analysis, 2014-2024
    • India Market Landscape Analysis, 2014-2024
  • Middle East & Africa Market Landscape Analysis, 2014-2024 (USD Bn)
    • Saudi Arabia Market Landscape Analysis, 2014-2024
    • UAE Market Landscape Analysis, 2014-2024

Chapter 7: Pricing Analysis

  Optimal Price Points (OPP), Indifference Price Points (IPP) and Range of Acceptable Prices (RAP) of leading brands and volume estimation by Region- 2016
  • North America Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
    • U.S. Pricing Analysis-2016
    • Canada Pricing Analysis-2016
  • Europe Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
    • UK Pricing Analysis-2016
    • Germany Pricing Analysis-2016
    • France Pricing Analysis-2016
    • Italy Pricing Analysis-2016
    • Spain Pricing Analysis-2016
  • Latin America Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
    • Brazil Pricing Analysis-2016
    • Mexico Pricing Analysis-2016
    • Colombia Pricing Analysis-2016
  • Asia Pacific Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
    • Japan Pricing Analysis-2016
    • China Pricing Analysis-2016
    • India Pricing Analysis-2016
  • Middle East & Africa Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
    • Saudi Arabia Pricing Analysis-2016
    • UAE Pricing Analysis-2016

Chapter 8: Technology and Consumer Outlook

  • Executive Summary
  • Technology Evolution
  • Key R&D trends
  • Consumer Analysis
  • Technology Crunch

Chapter 9: Competitive Landscape

  • Sixt SE
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • The Hertz Corporation.
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Avis Budget Group, Inc.
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Europcar
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Carzonrent India Private Limited (CIPL)
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Localiza Rent a Car SA
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Al Futtaim Group
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Enterprise Holdings Inc.
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • GlobalCARS
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  List of Tables  
  • TABLE 1 Car Rentals Market - Industry Snapshot & Key Buying Criteria, 2014 - 2024
  • TABLE 2 Global Car Rentals Market, 2014 – 2024 (USD Billion)
  • TABLE 3 Global Car Rentals Market by Vehicle Type, 2014 – 2024 (USD Billion)
  • TABLE 4 Global Car Rentals Market by End-User, 2014 – 2024 (USD Billion)
  • TABLE 5 Global Car Rentals Market by Booking Type, 2014 – 2024 (USD Billion)
  • TABLE 6 Global Car Rentals Market by Geography, 2014 – 2024 (USD Billion)
  • TABLE 7 Global Car Rentals Market Statistics, 2013 - 2024
  • TABLE 8 Car Rentals Market - Key Market Driver Analysis
  • TABLE 9 Car Rentals Market - Key Market Restraint/ Challenge Analysis
  • TABLE 10 Car Rentals Market – Key Opportunity Analysis
  • TABLE 11 North America Car Rentals Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 12 U.S. Car Rentals Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 13 Canada Car Rentals Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 14 Europe Car Rentals Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 15 U.K Car Rentals Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 16 Germany Car Rentals Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 17 France Car Rentals Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 18 Italy Car Rentals Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 19 Spain Car Rentals Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 20 Latin America Car Rentals Market Landscape Analysis, 2014-2024 (USD BN)
  • TABLE 21 Brazil Car Rentals Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 22 Mexico Car Rentals Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 23 Colombia Car Rentals Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 24 Asia pacific Car Rentals Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 25 Japan Car Rentals Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 26 China Car Rentals Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 27 India Car Rentals Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 28 Middle East & Africa Car Rentals Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 29 Saudi Arabia Car Rentals Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 30 UAE Car Rentals Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 31 North America Pricing Analysis
  • TABLE 32 North America Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
  • TABLE 33 U.S. Pricing Analysis-2016
  • TABLE 34 Canada Pricing Analysis-2016
  • TABLE 35 Europe Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
  • TABLE 36 U.K Pricing Analysis-2016
  • TABLE 37 Germany Pricing Analysis-2016
  • TABLE 38 France Pricing Analysis-2016
  • TABLE 39 Italy Pricing Analysis-2016
  • TABLE 40 Spain Pricing Analysis-2016
  • TABLE 41 Latin America Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
  • TABLE 42 Brazil Pricing Analysis-2016
  • TABLE 43 Mexico Pricing Analysis-2016
  • TABLE 44 Colombia Pricing Analysis-2016
  • TABLE 45 Asia Pacific Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
  • TABLE 46 Japan Pricing Analysis-2016
  • TABLE 47 China Pricing Analysis-2016
  • TABLE 48 India Pricing Analysis-2016
  • TABLE 49 Middle East & Africa Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
  • TABLE 50 Saudi Arabia Pricing Analysis-2016
  • TABLE 51 UAE Pricing Analysis-2016
  • TABLE 52 North America Market, by Demographic, 2014 - 2024 (USD Billion)
  • TABLE 55 Europe Market, by Demographic, 2014 - 2024 (USD Billion)
  • TABLE 56 Latin America Market, by Demographic, 2014 - 2024 (USD Billion)
  • TABLE 57 Asia Pacific Market, by Demographic, 2014 - 2024 (USD Billion)
  • TABLE 58 Middle East & Africa Market, by Demographic, 2014 - 2024 (USD Billion)
  List of Figures-  
  • Car Rentals Market Segmentation
  • Market Size & Growth Prospects
  • Leading Brand Dynamics
  • Penetration & Growth Prospects
  • Industry Analysis – Porter’s
  • Car Rentals Market – PESTEL Analysis
  • Car Rentals Market Share by Type, 2016 & 2024
  • Car Rentals Market Share by function, 2016 & 2024
  • Car Rentals Market Share by End-User 2016 & 2024
  • Car Rentals Market Share by Geography, 2016 & 2024

Key Insights Addressed:  

  • Defining market size from 2014 to 2015.
  • Estimating market growth till 2024 and consequence market forecast.
  • Identifying market drivers, restraints & future opportunities and allowing decision-maker with a range of possible outcomes and the probabilities that will occur for any choice of action.
  • Market segments and regions that will drive or lead market growth.
  • Defining Optimal Price Point (OPP) which will be accepted and recommended by maximum customers.
  • A bird’s-eye view of competitive landscape and the key market players.
  • Key strategic growth driver adopted by market players. In-depth analysis of their strategies and implication on competition & growth.
  Key Findings:  
  • The global car rental market was valued at USD 45.1 billion in 2015. The market is poised to grow with a lucrative CAGR of nearly 13% from 2016 to 2024.
  • The market consolidation through and joint ventures and mergers and acquisitions (M&A), to tap the emerging markets with high unmet needs is expected to be a key trend over the next few years.
  • Key players include Sixt SE, Avis Budget Group, Inc., Europcar, Localiza Rent a Car SA, Carzonrent India Private Limited (CIPL), Al Futtaim Group, and GlobalCARS.

Ameri Research implies a unique methodology of published information and primary research to bring key insights to customer decision making process. Our analytics model helps us to understand the structured and unstructured information from various sources. Key steps involves in the process are as below-  

    1. Analyzing Published Information- Access to large pool of paid and unpaid published information via different sources and analyzing market trend.
    2. Setting Foundation- Input from analysis of secondary sources set our foundation to market analysis and helps in setting the scope for further research. Setting the scope involves Ameri Research proprietary statistical model, discussion with industry leaders, internal brain storming, key discussion pointers from various forums etc.
    3. Need Gap Analysis- Defining the gap between our scope and availability of information.
    4. KOL Panel Discussion- Focused Group Discussion with a structured discussion guide to fine tune the gap and deriving the factors driving/restraining the market trend.
    5. Quantitative Research- Sampling large number of industry players, Education/Research Institutes, Government bodies, NGOs, Individual acclaimed researchers and conducting primary interview with a structured questionnaire.
    6. Data Triangulation- We applies bottom-up demand approach or top-down estimation or a combined approach to triangulate the data points.
    7. Analyst Comment- Each of our analyst carry large pool of experience from domain perspective and add their value which are directional in nature
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Description

The global car rental market was valued at USD 45.1 billion in 2015. The market is poised to grow with a lucrative CAGR of nearly 13% from 2016 to 2024. The factors such as rise in tourism, growing number of corporate travelers, and increase in leisure and group activities are expected to provide impetus for future expansion of the market.

 

The car rental market has been evolving rapidly due to technological advancements, increase in per-capita expenditure, and growing demand local and outstation travelers. The car rental operators are extensively utilizing the digital channels for staying relevant, improving service quality; facilitate easy booking, and to promote new products to the customers.

 

The various trends observed in the market indicate strong prospects of market consolidation, shifting consumer preferences, and the growing demand for large sized vehicles such as SUV’s and MUV’s. Furthermore, the volatility in the crude oil prices is also expected to play a vital role in the market growth over the next few years.

 

The market consolidation through and joint ventures and mergers and acquisitions (M&A), to tap the emerging markets with high unmet needs is expected to be a key trend over the next few years. The other innovative collaborations using value added services and shared profit models are expected to positively impact the future growth prospects

 

North AmericaCar RentalMarket, By Type of Vehicle 2014 – 2024 (USD Million)

North America Car Rental Market, By Type of Vehicle 2014 - 2024 (USD Million)

The car rental market is segmented based on vehicle type, end-use, booking type, and region. The segmentation based on vehicle type includes executive cars, economy cars, luxury cars, SUV’s and MUV’s. In 2015, economy cars accounted for the maximum share, however with the increasing disposable income and growing consumer needs, the SUV’s segment is expected to register the maximum growth rate over the forecast period.

 

Based on end-use, the market is categorized as on-airport and off-airport. The off-airport categorization includes local rental, outstation rental, leisure rental and other rentals. The market is dominated by the car rental for airport travelling and this segment is anticipated to extend its dominance over the next few years. The rise in air traffic volume due to domestic and international travelers for corporate and leisure activities is a key factor influencing the market growth.

 

However, the local car rental and outstation rentals are expected to grow rapidly due to surge in tourism, growing demand for office and other institutional transportation, improvement in quality of vehicles, and benefits of hassle free user experience.

 

“Optimal Price Point (OPP) for Car Rental Market”

 

Estimated Average solution cost – $ xx globally. The pricing and business models in the car rental market areunique in different regions. With growth in environmental concerns, technological advancements, and shifting consumer preferences, and increasing number of startup’s, the OPP and range of acceptable Prices (RAP) are going to change over the forecast period. We at Ameri Research continuously track these prices with our proprietary pricing model.

 

“Big data analytics to track consumer behavior and travel patterns”

 

Big data analytics is used to provide precise and accurate business insights to Enterprises.Using these analytical platforms, big data vendors have built application based solutions such as forecasting models, risk modeling and managing customer relationship. Additionally, the enterprises make extensive use of data visualization tools to understand the passenger demands, seasonal business requirement, and to identify new avenues of growth

 

“Notable industry participants include Sixt SE, Avis Budget Group, Europcar, GlobalCARS Oracle and Al FuttaimGroup “

 

Key players include Sixt SE, Avis Budget Group, Inc., Europcar, Localiza Rent a Car SA,Carzonrent India Private Limited (CIPL), Al Futtaim Group, and GlobalCARS, The market participants are deeply relying on technological platforms to improve customer engagement, build new service models, track the consumer travel requirements and estimate the frequency of usage for each customer. The use of technology platforms is also extended to improve vehicle safety, provide high-tech entertainment and real t on traffic and weather patterns. Major industry participants emphasize on seeking correlations across multiple disparate data sources and predicting customer behavior in order to achieve competitive advantage.

 

“Technology and regulatory outlook”

 

The changes in the environmental regulations to curb pollution and to ensure a smooth transition toward green transportation are expected to impact the market over the forecast period.

 

The changes in environmental laws are a major risk for car rental operators. For instance, the sudden ban on diesel vehicles with engine capacity above 2000 cc in the capital city of India, New Delhi was a rude shock to several automobile manufacturers and car rental operators. The ban was however, lifted after a period of eight months with several restrictions and additional green taxes.

 

The high consumption of fossil fuels is a great concern across governments across different regions and this factor is encouraging the utilization of renewable sources and less polluting agents as fuel. The market participants can tap the growing concern of environmental pollution by offering vehicles which run on solar, bio-fuels and can use other green concept in their overall business models.

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