Global Car Rental Market Outlook, Opportunities, Key Players, Trends and Forecast by 2023
Car or vehicle rental service is relatively developed in the industrialized economies. A car rental, hire car, or car hire company provides vehicles on rent for short periods of time, generally ranging from a few hours to a few weeks. Car rental providers have a number of local branches and offices near airports, bus stops, railway station, and busy city areas. The key vendors that provide vehicle rental services mainly focus on customer’s requirements, growth, innovation, and offers that attract customers and efficiency.
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Scope of the Report:
This report studies the Car Rental market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Car Rental market by product type and applications/end industries.
The impact of information technology in the industry has driven the transformation of the car rental services. The growing trend of using the Internet for customizing travel trips and online reservations & bookings is anticipated to propel the use of technology in the industry. The implementation of technology in these services makes the whole process safe, quick, reliable, and easy for consumers. In addition to this, the hassle-free process of online reservations and bookings increases convenience for both, the operators and customers.
One of the main challenges for car rental companies is to provide superior customer service, especially when it comes to customer complaints. The dissatisfaction comes from different situations. From a lack of information on additional payments and excess amount, to waiting for hours in line to get the car they already booked .
North America dominated the car rental market in 2015 and occupied around 39% of the total market revenue. Much of this region’s growth comes from the rise in accessibility and affordability of insurance and the growing popularity of car-sharing services. The increasing number of global tourists visiting Canada has also contributed to the rapid growth of the market. Factors such as an increase in business activities and growing awareness about carpool will drive revenues in this region during the forecast period.
The global Car Rental market is valued at xx million USD in 2017 and is expected to reach xx million USD by the end of 2023, growing at a CAGR of xx% between 2017 and 2023.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Car Rental.
Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.
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Market Segment by Companies, this report covers
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
Market Segment by Applications, can be divided into
Major Points from Table of Content:
Chapter One: Car Rental Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Car Rental Market Competition, by Players
Chapter Four: Global Car Rental Market Size by Regions
Chapter Five: North America Car Rental Revenue by Countries
Chapter Six: Europe Car Rental Revenue by Countries
Chapter Seven: Asia-Pacific Car Rental Revenue by Countries
Chapter Eight: South America Car Rental Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Car Rental by Countries
Chapter Ten: Global Car Rental Market Segment by Type
Chapter Eleven: Global Car Rental Market Segment by Application
Chapter Twelve: Global Car Rental Market Size Forecast (2018-2023)
Chapter Thirteen: Research Findings and Conclusion
Chapter Fourteen: Appendix
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