Published Date: 28-Feb-2022
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According to a new report Global Car Rental Market, published by KBV research, The Global Car Rental Market size is expected to reach $125.6 billion by 2027, rising at a market growth of 4.1% CAGR during the forecast period.
The Airport Transport segment is expected to witness high growth rate in the Global Car Rental Market by Application 2020, and would continue to be a dominant market till 2027; thereby, growing at a CAGR of 3.7% during the forecast period. The segment's growth is expected to be boosted by a large increase in air travellers internationally in recent years. Given this tendency, several car rental companies are growing their fleets and pushing services at major airports.
Economy cars segment acquired maximum revenue share in the Global Car Rental Market by Vehicle Type 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $45.73 billion by 2027. The small size and cost-effectiveness of these cars are two of the primary elements fuelling the rise of this segment. In addition, economical automobiles are becoming more popular for the airport and intra-city transport.
The North America market region is leading the Global Car Rental Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $65.07 billion by 2027. The Europe market is estimated to grow at a CAGR of 3.9% during (2021 - 2027). Additionally, The Asia Pacific market would showcase a CAGR of 4.2% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/car-rental-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Avis Budget Group, Inc., Europcar Mobility Group, Enterprise Holdings, Inc., Hertz Global Holdings, Inc., Localiza, SIXT SE, Eco Rent a Car, ANI Technologies Pvt. Ltd. (Ola Cabs), and AVR Qatar, Inc.
By Vehicle Type
Unique Offerings from KBV Research
North America Car Rental Market, Future Scope & Opportunities 2021-2027
Europe Car Rental Market, Size & Growth Forecast 2021-2027
Asia Pacific Car Rental Market, Size, Share & Industry Outlook to 2027
LAMEA Car Rental Market, Growth, Trends and Forecasts 2021-2027