Car Rental Market (By Application – Leisure/Tourism, Business. By Vehicle – Luxury/Premium Cars, Economy/Budget Cars. By Booking – Online Access, Offline Access. By Geography-North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Industry analysis, size, share, growth, trends, and forecast, 2021 - 2031.

The Global Car Rental Market was $9.9 Bn in 2020, and it is expected to reach $19.4 Bn by 2031. It is eventually growing at a commendable high compound annual growth rate CAGR of 6.03% between 2021-2031. But due to the current COVID-19 pandemic there might be a slight difference in the growth rate in the present year. The main factor that drives the growth of this market is the increased concern and awareness to lower the emissions and this has led to the increase in the different car rental options. It is because carpooling and car rentals helps to reduce the increased number of cars on the roads. Another main reason for the growth of this market is the increased Use of the electric vehicles in some of the car rental fleets which provides options to its Users that are more environment friendly in their commuting habits. Besides this car rentals also provides options to the increased mobility without being concerned about paying the costs of the vehicles owned by its owners.

Global Car Rental Market Is Estimated To Witness Remarkable Growth

Source: SAI Research

The Global Car Rental Market has been segmented into Application, Vehicle, Booking. Online booking is the most common method to book a rental car along with offline access. Online booking is the one that dominated the other booking type of platforms. This includes booking through mobile applications and websites.  Booking through sites is one of the common ways to book the cars online.

Major Players in Global Car Rental Market

Some of the major players in Car Rental Market include Avis Budget Group, Hertz Global Holdings, Fox Rent a Car, Enterprise Rent A Car, Alamo, Advantage Rent-A-Car, U-Save Auto Rental System, ACE Rent A Car, International Franchise Systems.

The Car Rental Market Has Been Segmented Into:

Global Car Rental Market, By Application

• Leisure/Tourism
• Business

Global Car Rental Market, By Vehicle

• Luxury/premium cars
• Economy/budget cars

Global Car Rental Market, By Booking

• Online access
• Offline access

Global Car Rental Market, By Region

• North America
• USA
• Canada
• Mexico
• Rest of North America
• Europe
• UK
• Germany
• France
• Spain
• Italy
• Russia
• Rest of Europe
• Asia Pacific
• India
• China
• Japan
• South Korea
• Rest of Asia Pacific
• Latin America, Middle East & Africa
• Brazil
• South Africa
• UAE
• Rest of LAMEA