Car Rentals 2019 Global Market Size,Status,Analysis and Forecast to 2023
WiseGuyReports.Com Publish a New Market Research Report On –“ Car Rentals 2019 Global Market Size,Status,Analysis and Forecast to 2023”.
PUNE, INDIA, October 23, 2019 /EINPresswire.com/ --
Description: -
Car Rentals is a service-based industry, which gives the options to rent cars. Car renting was only limited to western countries in the past, but due to globalization, countries in different parts of the world are opting to rent a car. Car leasing is an efficient way to travel to a long distance. Most of the people choose to rent a car while they are out of station for work, picnic, and other activities.
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Key Players
Sixt Rent A Car
Malkey Rent A Car
Casons Rent a Car
Shineway Rental Car
Hertz Rent A Car
Budget Rent a Car
Avis Rent a car
EuropCar
Keddy
Kings Rent-A-Car
Ameri Rent A Car
These days, people who are earning less are opting to lease the car instead of buying it. It has seen that the monthly EMI for a car is far more than the renting price. As a result, youth and student communities across the world are seeing the industry as a potential option. In most cases, renting a car reduced the maintenance cost, which is one of the aspects contributing to the growth of the industry. People, those who like to travel a lot or their job demands so, mostly go for the rental car. As different states have different laws, most of the consumers do not find it rational to take their vehicles; as a result, they are bound to take rental cars for a comfortable journey.
The industry is expected to show a healthy compound annual growth rate during the forecast period.
Marker Segmentation of the global Car Rentals Market
The worldwide Car Rentals market is segmented on the basis of type, application, and region.
On the basis of type, the market is segmented into SUV cars, MUV cars, Luxury cars, Executive cars, and Economy cars.
The economy segment is going at the fastest speed due to the large scale adaptation in countries like China and other Southeast Asian countries.
By application, the industry is classified into Rental Days <5, Rental Days 5-15, Rental Days 15-45, Rental Days 45-90, and Rental Days >90.
Among these, the off-airport rental service provides the largest market share. The segment is expected to show a stable compound annual growth rate (CAGR) during the forecast period.
Geographical market Segmentation of the global Car Rentals Market
The global segmentation of Car Rentals includes regions like Latin & Central America, Europe, the Indo Pacific, North America, and the Middle East and African region.
Some of the focused countries in the forecast are India, Japan, Russia, UAE, Algeria, Angola, Argentina, Turkey, UAE, Australia, Brazil, China, the UK, the USA, India, China, Ukraine, Venezuela, and Vietnam.
The Indo Pacific will be the critical region for the industry owing to the substantial adaptation in countries like India, China, and Japan and a strong population base in the area.
North America is leading the market in terms of market share owing to the high disposable income and multiple major service providers. The European region is anticipated to show a strong performance in the forecast period. North America alone contributes 40 billion USD to the industry.
Recent Happenings from the global Car Rentals Market
Indian company Ola recently revealed its ambitious plan to launch self-driving car rentals. The company will start its program from the Bengaluru, a southern city of India, and then expand the services to cities like Hyderabad, Mumbai, New Delhi, and many more. The company aims to reach a 20k car by 2020.
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Table of Contents – Major Key Points
• Overview of Car Rentals
• Global Market Status and Forecast by Regions
• Global Market Status and Forecast by Types
• Global Market Status and Forecast by Downstream Industry
• Market Driving Factor Analysis of Car Rentals
• Car Rentals Market Competition Status by Major Manufacturers
• Car Rentals Major Manufacturers Introduction and Market Data
Continued….
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