U.S. Industry Forecast Of “Car Rental Market” Up to 2019

Leading market intelligence firm Transparency Market Research has announced the release of a new market study. The new study examines the global car rental market, according to its historical statistics and current market trends, and charts the future growth trajectory of the car rental market in the coming years. The report, titled ‘Car Rental Market - Global and U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019’, is available on the company’s website for sale.

The car rental industry provides a vital service in the modern world. Due to growing international travel, the number of customers in the car rental market is growing steadily. International travelers often lack transportation options, making car rental services an essential commodity. Majorly due to the rising number of international travelers, the global car rental services market is registering a 13.6% CAGR from 2014 to 2019, according to the report. The market was worth US$36.8 bn in 2013 and is expected to expand to US$79.4 bn by the end of 2019.

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Within international travelers, business as well as leisure travel is on the rise. Rising globalization of corporate operations is responsible for the former, while rising disposable incomes of the middle class are enabling the latter. Developed regions such as North America and Europe have well-developed car rental markets, due to the high volume of business travel within the respective continents.

Apart from the rising volume of international travel, the major drivers of the global car rental market are the rising global population and increasing internet penetration around the world. The high prevalence of online car rental services around the world has been facilitated by the rising internet penetration, which has made availing car rental services much easier.The major restraint on the global car rental market is the increasing implementation of environmental regulations around the world. The high amount of environmental pollutants released by cars is responsible for the negative impact of environmental regulations on the car rental market. However, this presents a significant scope for future expansion of the global car rental market. The rising sale of fully and partially electric cars represents a major opportunity for major players in the car rental market.

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Executive cars and MUVs lead the global car rental market. These two segments are followed by economy cars, SUVs, and luxury cars. According to application, airport transport leads the global car rental market, totaling close to US$16 bn in 2013. Outstation and local usage are the other major application segments of the car rental market, apart from other minor applications such as event transportation, employee transportation, and self-drive. By geography, the report segments the global car rental market into North America, Asia Pacific, Europe, and Rest of the World.

The report contains analytical profiles of major companies in the global car rental market such as Avis Budget Group, Enterprise Rent-A-Car, Six Rent A Car, Eco Rent A Car, Carzonrent, and Hertz Corporation. These provide key insights into the competitive landscape of the global car rental market, helping decision makers in the market make well-informed, timely decisions.

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Segmentation of the global car rental market is as follows:

Car Rental Market: By geography

• North America
• Europe
• Asia Pacific
• Rest of the World

Car Rental Market: By type of car

• Luxury Cars
• Executive Cars
• Economy Cars
• SUV's
• MUV's

Car Rental Market: By category

• Local Usage
• Airport Transport
• Outstation
• Others (self-drive, event transportation, employee transportation solutions)

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Car Rental Market- Global and U.S.Industry Analysis, Size, Share and Forecast 2013-2019

Transparency Market Research has released a recent report on the global car rental market. The report, titled “Car Rental Market - Global and U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019” forecasts the market to grow positively at a CAGR of 13.6% during the period between 2014 and 2019. The market was valued at US$36.89 billion in 2013 and is expected to reach a valuation of US$79.46 billion by the end of 2019.  

Browse The Market Research Report of Car Rental Market : http://www.transparencymarketresearch.com/car-rental-market.html

The report points out that the rise in number of tourists, both in overseas and domestic travel categories, has boosted the global car rental market. Better roads and infrastructure, increasing GDP levels, and growing disposable incomes have led to the growth in leisure and business trips across the globe, which in turn has fuelled the car rental market. Increasing number of internet users and the online presence of car rental companies have also helped the market to grow. However, volatility in crude oil prices will be one of the major challenges faced by the car rental market during the forecast period. Stringent emission standards along with cheaper substitutes of public transport are also going to negatively affect the global car rental market. The report cites that the introduction of electric/hybrid vehicles will create new opportunities for the overall market in the coming years owing to the low emissions and lesser or no dependency on fuel.Depending upon the type of car, the global car rental market has been segmented into economy cars, executive cars, luxury cars, SUVs, and MUVs. During the forecast horizon, the report expects the executive cars and MUVs segments to witness fastest growth due to the rising demand from emerging economies such as India and China.

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In terms of category, the global car rental market has been divided into airport transport, outstation, local usage, and others including event transportation, self drive, and employee transportation solutions. In 2013, the airport transport segment was worth US$15.99 billion and is expected to grow at a CAGR of 13.7% during the forecast period. Rising air traffic will contribute to the growth of this segment in the coming years. The report studies the global car rental market in four key regions: Europe, Asia Pacific, North America, and Rest of the World. North America led the overall market in 2013, with a valuation of US$14.66 billion. In the same year, Europe was the second largest market, followed by Asia Pacific. In spite of the moderate growth in this region, North America will continue to dominate the global car rental market during the forecast horizon due to the increasing demand from the U.S., Canada, and Mexico.

The report profiles the key players in the global car rental market. Enterprise Rent-A-Car, Hertz Corporation, and Avis Budget Group, are the leading players in the car rental market in North America. Other car rental companies across the globe are Al-Futtaim Group, Six Rent A Car, Localiza Rent A Car, Carzonrent, The EuropCar, and Eco Rent A Car.

Browse Press Release of Car Rental Market : http://www.transparencymarketresearch.com/pressrelease/car-rental-market.htm

About Us :

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.