The Global Car Rental Market Size will Hit $125.6 Billion by 2027, at a CAGR of 4.1%

Car Rental Market Growth, Trends and Report Highlights

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.

Global Car Rental Market Segmentation

By Application

• Airport Transport
• Outstation
• Local usage
• Others

By Vehicle Type

• Economy cars
• Executive cars
• Luxury cars
• SUVs
• MUVs

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Companies Profiled

• 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)
• AVR Qatar, Inc.

Unique Offerings from KBV Research

• Exhaustive coverage
• The highest number of market tables and figures
• Subscription-based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free

Related Reports:

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