Global Car Rental Market Expected to Reach USD 111.6 Billion by 2026

18-Mar-2020 | Facts and Factors

Findings from Facts and Factors report “Car Rental Market By Car Type (Luxury Car Economical Car, SUV, MUV, and Executive Car), By Booking Type (Online Access and Offline Access), By Application (Airport Transportation, Outstation, Local Usage, and Others), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global car rental market in 2019 was more than USD 60 Billion. The market is expected to grow at a CAGR of around 7% and is anticipated to reach around USD 111.6 Billion by 2026.

Car rental has turned into a popular activity across the globe owing to the easy booking and availability of cars for rental purposes. The demand for hassle-free money transfer, easy booking, live tracking, and high safety helps escalate the demand for the car rental market. Moreover, the rising use of smartphones and internet users is estimated to boost the global Car Rental market.

Request Sample Request Customization Buy Now

Car Rental Market Size

Browse the full “Car Rental Market By Car Type (Luxury Car Economical Car, SUV, MUV, and Executive Car), By Booking Type (Online Access and Offline Access), By Application (Airport Transportation, Outstation, Local Usage, and Others), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/global-car-rental-market-by-car-type-luxury-785

Market Drivers:

The cost-effectiveness and demand for affordable rides among the mass customers are anticipated to boost the growth of the global Car Rental market during the forecast period. Additionally, the rising number of business and leisure trips has surged the use of luxury and premium car rental services. The sharing and pooling concept is likely to attract more customers among the less expensive interested customers and thereby, propel the growth of the global Car Rental market. Furthermore, the growing environment and health concerns have urged customers to adopt eco-friendly services or products. The major goal is to reduce pollution by reducing the cars on the road. The high disposable income, improving road infrastructure in emerging or developed economies has increased the number of leisure and business trips which, in turn, will fuel the market growth.

Market Segment Dominance:

  • Economical car category is projected to dominate the global Car Rental market

The economical car category is expected to hold the largest share in the global Car Rental market owing to its compact size and cost-feasibility. Additionally, it is one of the most commonly preferred modes of transportation for airport and intra-city travels.

  • Airport transportation is expected to substantial growth during the forecast period

Owing to the increasing interest in tourism, the use of airplanes for leisure and business is also found to surge among the tourists. Thus, the demand for car rental services is increasing in the tourism sector.

Regional Dominance:

  • North America is expected to dominate the global Car Rental market during the forecast period

North America held the majority of the market share of the global Car Rental market in 2018 and is estimated to continue growing over the forecast period. The increasing number of business and leisure trips across various regions whether local or international has a positive impact on the growth of the regional market. In addition to this, the growing inclination of the populace toward rental services and the presence of well-known service providers are estimated to accelerate the global Car Rental market.

Report Scope

Report Attribute

Details

Market Size in 2019

USD 60 Billion

Projected Market Size in 2026

USD 111.6 Billion

CAGR Growth Rate

7% CAGR

Base Year

2019

Forecast Years

2020-2026

Key Market Players

Europcar, The Hertz Corporation, Enterprise Rent-A-Car, Sixt SE, and Avis Budget Group.

Key Segment

By Car Type, By Booking Type, By Application, and By Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

Request customized purchase options to meet your research needs. Explore purchase options

Market Players:

Some of the key players of the global Car Rental market include Europcar, The Hertz Corporation, Enterprise Rent-A-Car, Sixt SE, and Avis Budget Group.

This report segments the global Car Rental market as follows:

Global Car Rental Market: Car Type Segmentation Analysis

  • Luxury Car
  • Executive Car
  • Economical Car
  • Sports Utility Vehicle (SUV)
  • Multi Utility Vehicle (MUV)

Global Car Rental Market: Booking Type Segmentation Analysis

  • Offline Access
  • Online Access

Global Car Rental Market: Application Segmentation Analysis

  • Airport Transport
  • Local Usage
  • Outstation
  • Others

Global Car Rental Market: Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • The UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:

Facts & Factors

Global Headquarters

Level 8, International Finance Center, Tower 2,
8 Century Avenue, Shanghai,
Postal - 200120, China
Tel: +86 21 80360450

Email: [email protected]

Web: https://www.fnfresearch.com


Latest Market Research Reports

report img

Industrial Plant Derived Cleaning Ingredients Market Report 2024 – 2032

[221+ Pages Report] According to Facts and Factors,the global industrial plant derived cleaning ingredients market size was valued at USD 5,126.35 million in 2023 and is predicted to surpass USD 9,795.57 million by the end of 2032. The industrial plant derived cleaning ingredients industry is expec

Published Date : 21-Feb-2024 | | Category : Chemical & Materials | Pages : 221 | Format : Read more

Inquiry for Buying Request Sample
report img

Ophthalmic Laser Market Report 2024 – 2032

[220+ Pages Report] According to Facts and Factors,the global ophthalmic laser market size was valued at USD 1,358.79 million in 2023 and is predicted to surpass USD 2,126.07 million by the end of 2032. The ophthalmic laser industry is expected to grow by a CAGR of 5.76% between 2024 to 2032. Ophth

Published Date : 20-Feb-2024 | | Category : Medical Device | Pages : 220 | Format : Read more

Inquiry for Buying Request Sample
report img

Intraoperative Imaging Market Report 2024 – 2032

[219+ Pages Report] According to Facts and Factors,the global intraoperative imaging market size was valued at USD 3,471.52 million in 2023 and is predicted to surpass USD 6,286.27 million by the end of 2032. The intraoperative imaging industry is expected to grow by a CAGR of 7.70% between 2024 to

Published Date : 19-Feb-2024 | | Category : Healthcare | Pages : 219 | Format : Read more

Inquiry for Buying Request Sample
report img

Plant-based Food Colors Market Report 2024 – 2032

[216+ Pages Report] According to Facts and Factors,the global plant-based food colors market size was valued at USD 9.65 billion in 2023 and is predicted to surpass USD 15.31 billion by the end of 2032. The plant-based food coloring industry is expected to grow by a CAGR of 5.94% between 2024 to 20

Published Date : 16-Feb-2024 | | Category : Food & Beverages | Pages : 216 | Format : Read more

Inquiry for Buying Request Sample
report img

Liquid Packaging Cartons Market Report 2024 – 2032

[212+ Pages Report] According to Facts and Factors,the global liquid packaging cartons market was valued at USD 21.73 billion in 2023 and is predicted to surpass USD 35.98 billion by the end of 2032. The liquid packaging cartons industry is expected to grow by a CAGR of 6.5% between 2024 to 2032. L

Published Date : 15-Feb-2024 | | Category : Packaging | Pages : 202 | Format : Read more

Inquiry for Buying Request Sample

Why FnF Market Research?

1 Inflallible Methodology

to ensure high-level data integrity, accurate analysis, and impeccable forecasts

2 Analyst Support

for complete satisfaction

3 Customization

on-demand customization of scope of the report to exactly meet your needs

4 Targeted Market View

Targeted market view to provide pertinent information and save time of readers

5 Agile Approach

A faster and efficient way to cater to the needs with continuous iteration