Wednesday 14 February 2018

Car Rental Market Overview – Key Futuristic Trends and Opportunities 2022



Technavio recognizes the following companies as the key players in the global car rental market: Avis Budget Group, Enterprise Holdings, Europcar, Hertz, Sixt, and Carzonrent.
Other Prominent Vendors in the market are: Hermes, Advantage OPCO, and E-Z Rent A Car.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is introduction of value-for-money car rental services. Players in the car rental industry are focusing on providing low-cost car services, especially for leisure markets. The small players are preferring online car rental platforms to expand their geographical presence and reach a wide customer base. Several popular car rental services have launched their own value brands with moderate and affordable pricing. Such strategies will help players in the car hire market expand their customer base.
According to the report, one of the major drivers for this market is increasing incorporation of advanced digital technologies in car rental services. With the advent of the internet and growing number of smartphone users, the dependency on technology has increased. Several car companies are using mobile-based applications to communicate the fare, discount coupons, promotional offers, availability of cars, and real-time tracking details to the consumers. With the consumers increasingly prefering the availability of cars in minimal time, operators are focusing on streamlining their membership procedures and on enhance service convenience by adopting smart technology. Moreover, car rental operators are also focusing on introducing enhanced features in their mobile applications to cater efficient customer convenience.
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
About Car Rental
Many people benefit by using car rental services because of the reduced total cost of mobility. A crucial reason contributing to the growth of the market is that providers own the vehicles and users are free from the burden of ownership costs. Customers also have the flexibility of choosing cars that can meet their daily needs. Moreover, insurance costs incurred during renting vehicles are also taken care of users by the rental companies. Corporate members also have access to a fleet of cars with hassle-free maintenance and management systems. In addition, service agreements with car rental providers help companies reduce their fleet costs and provide their employees with easy access to a range of vehicles.
Technavio’s analysts forecast the global car rental market to grow at a CAGR of 17.52% during the period 2018-2022.
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Covered in this report
The report covers the present scenario and the growth prospects of the global car rental market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of car rental.
The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA
Technavio's report, Global Car Rental Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
·         • Avis Budget Group
·         • Enterprise Holdings
·         • Europcar
·         • Hertz
·         • Sixt
·         • Carzonrent
·         Other prominent vendors
·         • Hermes
·         • Advantage OPCO
·         • E-Z Rent A Car
·         Market driver
• Increasing incorporation of advanced digital technologies in car rental services
• For a full, detailed list, view our report
Some points from TOC:-
Table of Contents
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
• Market outline
PART 05: MARKET LANDSCAPE
• Market ecosystem
• Market characteristics
• Market segmentation analysis
PART 06: MARKET SIZING
• Market definition
• Market sizing 2017
• Market size and forecast 2017-2022
PART 07: FIVE FORCES ANALYSIS
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition
PART 08: MARKET SEGMENTATION BY RENTAL CATEGORY
• Global car rental market by rental category
• Comparison by rental category
• Global car rental market by airport transport
• Global car rental market by local transport
• Global car rental market by outstation transport
• Global car rental market by other transport
• Market opportunity by car rental category
PART 09: MARKET SEGMENTATION BY VEHICLE TYPE
• Global car rental market by vehicle type
• Comparison by product
• Global car rental market by economy cars
• Global car rental market by executive cars
• Global car rental market by luxury cars
• Global car rental market by SUVs
• Global car rental market by MUVs
……
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