A significant rise in the number of people taking business and leisure trips across the globe is driving the demand for car rental services, thereby propelling the industry's growth. The . Detailed segmentation of international and local products. Looking forward, the publisher expects the market to reach a value of US$ 144.7 Billion by 2026, growing at a CAGR of 7.2% . Car Rental Market Size, Share, Global Trends, Industry Segmentation, Growth and Opportunities 2022-2027 1 hour ago 4 min read SHERIDAN, WY, USA, May 5, 2022 / EINPresswire.com / — According to the latest report by IMARC Group, titled " Car Rental Market North America generated the highest revenue between 2014 and 2018 and accounted for an over 43.3% share in 2018. A car rental market analysis. Here's a look at car rental's involvement in these new trends in the market. 5/6/2022 2:34:42 AM. As […] The global car rental market size was valued at USD 98.14 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.6% from 2021 to 2028. The global market for car rentals should grow from $62.0 billion in 2018 to reach $82.8 billion by 2023 at a compound annual growth rate of 5.9% for the period of 2018-2023. . The increasing popularity of smartphone-based online rental car booking apps, economic development, and increased usage of luxury cars in business trips by the corporates are a few of the . The global digital camera market size reached US$ 7.2 Billion in 2021. According to the latest report by IMARC Group, titled "Scandinavia Car Rental Market Share: Industry Trends, Size, Growth, Opportunity and Forecast 2021-2026," Date. C.A.R. From a global perspective, this report represents the overall Self drive Car Rental Market Size by analyzing historical data and future prospects. Five year forecasts of market trends and market growth. According to the latest report by IMARC Group, titled "Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global car rental market reached a value of US$ 76.7 Billion in 2021. 5.1 Market Overview 5.2 Market Performance 5.3 Market Forecast 6 Market Breakup by Booking . Members save 10% more on select hotels, cars, activities and vacation rentals. Higher competition among Car Rental & Leasing companies will put a downward pressure on prices. Fast-forward a year, and millions of vaccine jabs later, and Americans were ready to. The global car rental market was worth around USD 87.4 billion in 2021 and is estimated to grow to about USD 132.6 billion by 2028, with a compound annual growth rate (CAGR) of approximately 6.9 percent over the forecast period. Share on Facebook; Tweet on Twitter (MENAFN- EIN Presswire) The pandemic resulted in the car rental industry selling off much of its fleet in 2020, resulting in a shortage in supply of rental cars in 2021 as domestic travel starts to pick up. SWOT Analysis and Porter's Five Force analysis of the top vendors have been mentioned. Higher demand or COGS will put upward price pressure on prices. Growth Factors The technology plays vital role for the growth and development of car rental market. The global car rental industry is expected to reach an estimated $120 billion by 2025 with a CAGR of 6.1% from 2020 to 2025. Over the forecast period, the Asia Pacific region is anticipated to witness the highest . Few markets better crystallize the topsy-turvy nature of the American economy during the pandemic than the rental car business. The global luxury car rental market size was USD 44.9 billion in 2020. According to the latest report by IMARC Group, titled "Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global car rental market reached . Global Car Rental Market Trends and Drivers: The rapid urbanization and shifting consumer inclination toward recreational travelling are some of the factors driving the global market. Important Questions Answered: What is the growth potential of the Car Rental System Market? Industry Trends. The price to rent a car or truck was 23 percent lower in May 2020 than it was before the pandemic started. Looking forward, IMARC Group expects the market to reach US$ 9.4 Billion by 2027, exhibiting at a CAGR of 4.39% during 2022-2027. 14.2 Car rental Market Drivers. 6.1 Offline Booking 6.2 Online Booking The favorable government policies and the growing consumer awareness regarding energy conservation are factors creating a positive outlook for the market. Car Rental Market Outlook 2031. Global Car Rental Market Trends and Drivers: The rapid urbanization and shifting consumer inclination toward recreational travelling are some of the factors driving the global market. Car Rental in the US industry statistics Biggest companies in the Car Rental industry in the US IBISWorld's statistic shows that as of 2022 the market size of the Car Rental industry is $56.3bn an increase of 26.86% from 2021. . The publisher forecasts that in the years to come, the number of car . The global car rental industry is expected to reach an estimated $120 billion by 2025 with a CAGR of 6.1% from 2020 to 2025. Restraint in the Car Rental Market However, the rising prices of petrol and diesel and increasing market for ride sharing, micromobility, and peer-to-peer car sharing services such as Uber, Lyft, and Ola are expected to hamper the growth of the car rental market share over the forecast period. Car Rental Market is likely to reach USD 139.65 billion by 2027, at a CAGR of 7%. Report Includes 15 data tables and 42 additional tables An industry analysis of the global car rental market One-way corporate rentals. The global electric car rental market is poised to grow by USD 7.14 billion during 2020-2024. Manufacturers operating in the global car rental market are gaining potential growth . conducts survey research with members and consumers on a regular basis to get a better understanding of the housing market and the real estate industry. The car rental market accounted for USD 92.02 billion in 2021, and it is expected to reach USD 139.65 billion by 2027, projecting a CAGR of more than 7% during the forecast period. A recent market study published by Future Market Insights on the car rental services market offers global industry analysis for 2016-2020 & opportunity assessment for 2021-2031. Apr 27, 2022 (The Expresswire) -- In 2022,Luxury Car Rental Market "Size, Trend, Analysis, growth, Status and Forecast 2026 Luxury car rental is the use of a. "Car Rental and Leasing Services Market" gives a recent analysis of worldwide market scenario, latest trends, drivers and the overall market situation. Car Rental Market Outlook 2031. Share on Facebook; Tweet on Twitter (MENAFN- EIN Presswire) The global impact of COVID-19 has been unprecedented and staggering, with luxury car rental witnessing a positive impact on demand across . Looking forward, the market value is expected to reach US$ 144.7 Billion by 2026, growing at a CAGR of 7.2% during 2021-2026. . 16 Appendix. Rental car agencies across Australia are battling to keep up with… USD 1,195 Add To Cart Country Report Car Rental (Destination) in Russia Oct 2021 Historic volume and value sizes, company and brand market shares. Car Rental & Leasing Industry Price Trends. Car Rental Industry: Trends There is a growing trend among vendors of the U.S car rental industry to maintain strategic alliances with hotels and airlines. The future of the global car rental industry looks promising with. Luxury Car Rental Market dynamics, including players, challenges, restraints, threats, and lucrative opportunities have been analyzed. This is a comprehensive study that analyses market share, key categories . Date. U.S. Car Rental Market is projected to be worth USD 200 billion by 2027, registering a CAGR of 9% during the forecast period (2021 - 2027), The market was valued at USD 200 billion in 2020. DUBLIN, April 06, 2022--The "Car Rental Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering. "We have seen a huge increase in car rentals overall, and specifically in the . Our flagship product, RentWorks, provides all the tools you need to run every aspect of your car rental business or service loaner department from the front counter to the back office. Contend With Fleet Management Issues. The major drivers for this market are the growing global tourism industry, an increase in international air travelers, and rising income levels across the globe. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $42.0 billion by 2025 . The global market for car rentals should grow from $62.0 billion in 2018 to reach $82.8 billion by 2023 at a compound annual growth rate (CAGR) of 5.9% for the period of 2018-2023. The future of the airport car rental market looks promising with opportunities in business and leisure travelers. The study offers a comprehensive assessment of the most important market dynamics. Car Rental Market Size And Forecast. Which company is currently leading the Car Rental System market? Dublin, April 08, 2022 (GLOBE NEWSWIRE) -- The "Car Rental Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's The implementation of strict government regulations to curb vehicular emissions has led to the adoption of urban mobility solutions is driving the industry growth. The airport car rental market is expected to decline in 2020 due to global economic recession led by COVID-19. Segmentation based on Product Types: Hatchback The report titled "Global Car Rental Market - Growth, Share, Opportunities, and Competitive Analysis, 2016 - 2023" offers strategic insights into the global car rental market along with the market size and estimates for the duration 2014 to 2023. The growing popularity of car-sharing as an . IBISWorld's statistic shows that as of 2022 the market size of the Car Rental industry is $56.3bn an increase of 26.86% from 2021. . Although this is done with the intention to retain their competitive advantages over other key industry players, this strategy is becoming a big trend today. SHERIDAN, WY, USA, May 5, 2022 / EINPresswire.com / -- According to the latest report by IMARC Group, titled " Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and. The major car rental companies are in the midst of a massive initiative to connect their rental fleets. Let's take a look at some of the rental car trends, as we're about to move into 2021. Global car rental market is expected to grow at a CAGR of around 7% and is anticipated to reach around USD 111.6 Billion by 2026. . After conducting a thorough research on the historical, as well as current growth parameters, the growth prospects of the market are . The said research study covers in-depth analysis of multiple market segments based on vehicle . The global car rental market reached a value of US$ 93.7 Billion in 2020. 1. Car Rental Market Key Trends Analysis. Car Rental Market is likely to reach USD 139.65 billion by 2027, at a CAGR of 7%. Car Rental Market size was valued at USD 107.46 Billion in 2020 and is projected to reach USD 255.15 Billion by 2028, growing at a CAGR of 11.43 % from 2021 to 2028.. The car rental market is set to increase in size even after accounting for the challenges faced from the COVID-19 pandemic. Global car rental market valued at USD 79.5 billion in 2018 has emerged as one of the most prominent services in the urban transport sector and has shown considerable growth over the years. Car Rental and Leasing Services market was valued at USD million in 2020 and it is expected to reach USD million by the end of 2027, growing at a CAGR of % during 2021-2027. . Search and Compare from Car Companies in Tlacolula Market. 6 Car Rental Industry Trends in 2022 ONE: Online Car Rental Booking Services In 2021, the global car rental market was estimated to be worth roughly US$ 102.08 billion. 14.4 Car rental Market Restraints. The global car rental market reached a value of US$ 76.7 Billion in 2021. Thorough analyses are carried out of car rental practices, along with trends toward the uptake of solution costs, emerging standards and common practices. DUBLIN--The "Global Car Rental (Self Drive) Market to 2025 - Key Trends, Regional Insights and Top Companies" report from GlobalData has been added to ResearchAndMarkets.com's offering. Get detailed insights regarding the impact of COVID-19 on the market. The U.S. car rental industry reached this revenue on only 1.8 million cars in service, which produced a record average revenue per unit, per month (RPU) of $1,320. Car Rental Market report covers the latest trends followed by technological developments in market. Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc. The global car rental market was valued at US$ 64.80 Bn in 2020; It is estimated to expand at a CAGR of 6% from 2021 to 2031; The global car rental market is expected to cross the value of US$ 121.1 Bn by the end of 2031; Analysts' Viewpoint on Car Rental Market Scenario. The industry shows . Furthermore, car rental services also provide additional benefits such as navigation systems, entertainment systems, portable Wi-Fi, insurance, and child safety seats. The global car rental market is projected to surpass US$ 220.0 billion by the end of 2027, in terms of revenue, growing at CAGR of 13.6% during the forecast period (2020 to 2027). Sign up. 15 Key Finding in The Global Car rental Study. The favorable government policies and the growing consumer awareness regarding energy conservation are factors creating a positive outlook for the market. While the pandemic has cut heavily into the service end of the car rental industry, that hasn't stopped companies from gravitating over to the product side to garner revenue by selling off part of its fleet rather than let those vehicles gather dust. Car Rental Market report covers the latest trends followed by technological developments in market. Car Rentals Market Regional Trends and Market Player's Analysis. It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges . Report . The move to connect entire rental fleets continues apace, but the transformational benefits won't be realized this year. 14.1 Car rental Industry Trends. 4.2 Key Industry Trends 5 Global Car Rental Market . DUBLIN, April 06, 2022--(BUSINESS WIRE)--The "Car Rental Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.. A new study on the global car rental market has been published by the author. North America Vehicle Rental Market Size & Growth: North America Vehicle Rental Market is valued at $83.25 billion in 2018 and estimated to reach a value of $159.73 billion in 2024 at CAGR of 17.38%. The U.S. car rental industry achieved overall revenues of $28.1 billion in 2021 — a 21% gain over the pandemic year of 2020, according to data collected by Auto Rental News. What is the market size of the Car Rental industry in the US? The Car Rental in USA report includes: Analysis of key supply-side and demand trends. Rise and fall in market prices are affectedd by supply, demand, and the cost of goods/services sold. Talk to one of our reps today about how an IBISWorld Membership can make you an expert in any . This report focuses on Self drive Car Rental Market Trend, volume, and value at global level, regional level, and company level. The car rental market revenue stood at $78.7 billion in 2018, and it is projected to reach $122.6 billion by 2024, witnessing a CAGR of 7.9% during 2019-2024. Talk to one of our reps today about how an IBISWorld Membership can make you an expert in any . Car Rental in the US industry trends (2016-2021) Car Rental in the US industry outlook (2021-2026) poll Average industry growth 2021-2026: x.x lock Purchase this report or a membership to unlock the average company profit margin for this industry. Car Rental Market Size, Share, Global Trends, Industry Segmentation, Growth and Opportunities 2022-2027 Environment, Health, and Safety (EHS) Market to Reach a Value of US$ 112.22 Billion by 2027 . Car rental is a service that includes renting cars for many purposes. The report offers an up-to-date analysis regarding the current market scenario, latest trends and . 4.2 Key Industry Trends 5 Global Car Rental Market 5.1 Market Overview 5.2 Market Performance 5.3 Impact of COVID-19 5.4 Market Forecast 6 Market Breakup by Booking 6.1 Offline Booking The Rental Car Insurance market report comprises an in-depth analysis of this industry vertical, highlighting the predominant trends and growth opportunities that promise substantial gains. Results and analyses from these studies are released in different formats - written report, power-point, infographic, webinar, and podcast - and can be found in this section. Car Sharing Market size surpassed USD 2 billion in 2020 and is anticipated to grow at over 20% CAGR from 2021 to 2027. The service is offered through both online and offline sources. Robust and transparent research methodology, conducted in-country. Car Rental Market Size, Share, Trends and Forecast 2022-2027 Press Release: Global Car Rental Market to Reach US$ 96.5 Billion by 2027, Bolstered by Rapid Growth of Online Platforms COVID-19 The pandemic continues to cause unprecedented disruption across industries worldwide. Trends and Analysis on 1,000+ Global Industries. Search over 2.9 million properties and 550 airlines worldwide. Call us today toll-free at 800-304-5805, or email us at sales@barsnet.com and we will be happy to walk you through Bluebird's Auto Rental Services. Enterprise Rent-A-Car, Hertz Global Holdings, Inc., Avis Budget Group Inc., Europcar Groupe S.A., and Sixt AG are the major car rental service providers in the global car rental industry. The global car rental market size was estimated at USD 102.08 billion in 2021 and is expected to surpass around USD 186.59 billion by 2030, poised to grow at a registered CAGR of 6.9% from 2021 to 2030. Trends and Analysis on 1,000+ Global Industries. Membership is required and verified at pick-up. The report analyzes and declares the historical and current trends analysis of the Car Rental industry and subsequently recommends the projected trends anticipated to be observed in the global Car Rental market . According to IMARC Group's latest report, titled "Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global car rental market reached a value of US$ 93.70 Billion in 2020. The COVID-19 pandemic has devastated economies worldwide, and the impact was felt by businesses across verticals and hit transportation services particularly hard. Looking forward, the publisher expects the market to reach US$ 96.5 Billion by 2027, exhibiting a CAGR of 3.8% during 2022-2027. Car Rental Market Size, Share, Global Trends, Industry Segmentation, Growth And Opportunities 2022-2027. . The global car rental industry is expected to reach an estimated $120 billion by 2025 with a CAGR of 6.1% from 2020 to 2025. The Markets related to North America are having inclined growth in the forecast period of 2018 - 2024. Wherein, North America dominated the global car rentals market in 2019. Looking forward, IMARC Group expects the market to reach US$ 96.5 Billion by 2027, exhibiting at a CAGR of 3.8% during 2022-2027.… The . The document helps shareholders take conversant decisions and expand their business portfolio in the ensuing years. 4. The economy cars segment dominated the global car rental market, with a 37.18% market share in 2019. Market Research Report closely monitors leading competitors, including micro and macro market trends, strategic analysis, market conditions, price analysis and overall synopsis of market circumstances over the forecast period. What is the market size of the Car Rental industry in the US? The global car rental market was valued at US$ 64.80 Bn in 2020; It is estimated to expand at a CAGR of 6% from 2021 to 2031; The global car rental market is expected to cross the value of US$ 121.1 Bn by the end of 2031; Analysts' Viewpoint on Car Rental Market Scenario. Regionally, the market is divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Economy cars are compact, fuel-efficient, and offer enough comfort, therefore are preferred by a majority of the users. The market is projected to grow from USD 49.4 billion in 2021 to USD 71.4 billion by 2028 at a CAGR of 5.3% during the 2021-2028 period. Finally, the feasibility of new investment projects is assessed, and overall research conclusions offered. The major drivers for this market are growing global tourism industry, increase in int ernational air travelers, and rising income levels across the globe. Car Rental Market Size, Share, Global Trends, Industry Segmentation, Growth And Opportunities 2022-2027. The Car Rental System industry development trends and marketing channels are analyzed. Manufacturers operating in the global car rental market are gaining potential growth . An-depth analysis of the historical years (2017-2019) and throughout the forecast period (2022-2029) has been presented. Published Sept. 20, 2021 Updated Oct. 25, 2021. 14.3 Car rental Market Challenges. Car Rental Market Size, Share, Global Trends, Industry Segmentation, Growth and Opportunities 2022-2027 1 hour ago 4 min read SHERIDAN, WY, USA, May 5, 2022 / EINPresswire.com / — According to the latest report by IMARC Group, titled " Car Rental Market 5/6/2022 2:34:42 AM.