Press release
Car Rental Market Size worth US$ 126.9 Billion by 2031 | CAGR: 4.2%: TMR Study
The latest research study released by Transparency Market Research on "๐๐๐ซ ๐๐๐ง๐ญ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ ๐ ๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ญ๐จ ๐๐๐๐-๐๐๐๐ โณ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Car Rental industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data.Car Rental market is estimated to attain a valuation of US$ 126.9 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 4.2% during the forecast period, 2023-2031
๐๐๐ญ ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ-https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1633
The future analysis of the car rental market suggests that with growth in international travel and changes in attitudes toward car ownership rise, the industry is projected to undergo significant transformations. Surge in disposable income and expansion in the tourism sector are also estimated to augment market expansion during the forecast period.
Rise in competition among service providers is a major challenge leading to market limitations. Thus, vendors in the global car rental industry are focused on technological advancements to broaden their customer base and increase their car rental market share. Surge in adoption of smartphones and rise in penetration of internet are likely to offer lucrative growth opportunities for car rental companies. Mobile applications and online platforms have simplified the reservation and rental process, making it more convenient for customers to book, pick up, and return vehicles.
๐๐ฑ๐ญ๐๐ง๐ฌ๐ข๐ฏ๐ ๐๐ฌ๐ ๐จ๐ ๐๐๐ซ ๐๐๐ง๐ญ๐๐ฅ ๐๐จ๐ซ ๐๐๐ข๐ฌ๐ฎ๐ซ๐
According to the latest car rental market trends, the leisure customer segment is expected to dominate the industry during the forecast period. Car rental companies are offering a wide range of vehicles, including compact cars, SUVs, luxury cars, and specialty vehicles like convertibles or off-road vehicles. Car rental service providers allow customers to choose a vehicle that suits their specific needs and preferences for their leisure activities.
In some cases, renting a car can be more cost-effective than using other modes of transportation, particularly for larger groups or families. It eliminates the need to purchase or maintain a personal vehicle solely for occasional leisure trips, saving money on depreciation, insurance, and maintenance costs.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐ฉ๐ฎ๐ซ๐๐ก๐๐ฌ๐ - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=1633
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค
According to the latest car rental market forecast, Asia Pacific is projected to hold largest share from 2023 to 2031. Expansion in domestic and international tourism sectors is fueling market dynamics in the region. Tourists often prefer renting cars to explore various destinations at their own pace. Additionally, business travelers also contribute to the demand for car rentals in major cities. Rapid urbanization in countries, such as China and India, is also augmenting market statistics in Asia Pacific.
Changing consumer preferences, especially among millennials and younger generations, have driven the demand for shared mobility solutions like car rentals. These consumers often prioritize flexibility and convenience over car ownership.
๐๐ก๐ ๐ฌ๐ข๐ ๐ง๐ข๐๐ข๐๐๐ง๐ญ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐จ๐ฉ๐๐ซ๐๐ญ๐ข๐ง๐ ๐ข๐ง ๐ญ๐ก๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐๐๐ซ ๐๐๐ง๐ญ๐๐ฅ ๐ฆ๐๐ซ๐ค๐๐ญ ๐๐ซ๐
Advantage Rent A Car, Avis Budget Group, BIS Group, Carzonrent, China Auto Rental Inc., Citer SA, eHi Car Services, Enterprise Holdings, Europcar Mobility Group, Fox Rent A Car, Localiza Rent a Car, Lyft, Movida Rent a Car, Payless Car Rental, Rent-A-Wreck, Sixt SE, The Hertz Corporation, The Orix Corporation, Uber, and Zipcar
๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง -
This report has explored the key segments: by Type and by Application. The lucrativeness and growth potential have been looked into by the industry experts in this report. This report also provides revenue forecast data by type and by application segments based on value for the period 2023-2031.
๐๐๐ฏ๐ ๐๐ง๐ฒ ๐๐ฎ๐๐ซ๐ฒ? ๐๐ฌ๐ค ๐๐จ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ: https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=1633
๐๐๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ
In May 2021, Uber introduced Uber Rent, a new car rental service in Washington DC, U.S.
In February 2020, Yamaha Motor Corporation injected an additional US$ 35 Mn in Drivezy, an India-based car rental company
๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ ๐ฅ๐๐ญ๐ฌ ๐ฒ๐จ๐ฎ ๐ข๐๐๐ง๐ญ๐ข๐๐ฒ ๐ญ๐ก๐ ๐จ๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐ข๐ง ๐๐๐ซ ๐๐๐ง๐ญ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ ๐๐ฒ ๐ฆ๐๐๐ง๐ฌ ๐จ๐ ๐ ๐ซ๐๐ ๐ข๐จ๐ง:
North America (the United States, Canada, and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
South America (Brazil etc.) The Middle East and Africa (North Africa and GCC Countries)
๐๐จ๐ซ๐ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ฒ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก -
๐๐ ๐๐ง๐ ๐๐ง๐๐ฅ๐ฒ๐ญ๐ข๐๐ฌ ๐๐๐ซ๐ค๐๐ญ- https://www.globenewswire.com/news-release/2022/08/05/2493214/0/en/BI-and-Analytics-Market-is-Estimated-to-Progress-at-a-CAGR-of-8-8-during-the-Forecast-Period-notes-TMR-Study.html
๐๐๐ฑ๐ญ๐ข๐ฅ๐ ๐๐ฎ๐ฑ๐ข๐ฅ๐ข๐๐ซ๐ข๐๐ฌ ๐๐๐ซ๐ค๐๐ญ- https://www.globenewswire.com/news-release/2022/08/08/2493700/0/en/Textile-Auxiliaries-Market-to-Reach-US-11-7-Bn-by-2031-TMR-Study.html
๐๐๐จ๐ฎ๐ญ ๐๐ฌ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Car Rental Market Size worth US$ 126.9 Billion by 2031 | CAGR: 4.2%: TMR Study here
News-ID: 3340258 • Views: โฆ
More Releases from Transparency Market Research
![Cloud Artificial Intelligence (AI) Solutions Market Poised for Exponential Growth, Projected to Reach $254.6 Billion by 2031](https://cdn.open-pr.com/L/8/L812888410_g.jpg)
Cloud Artificial Intelligence (AI) Solutions Market Poised for Exponential Growt โฆ
The Global Cloud Artificial Intelligence (AI) Solutions Market (ํด๋ผ์ฐ๋ ์ธ๊ณต์ง๋ฅ(AI) ์๋ฃจ์
์์ฅ) is set for remarkable growth, with projections indicating a leap from $38.1 billion in 2022 to an estimated $254.6 billion by 2031. This represents a robust compound annual growth rate (CAGR) of 24.1% over the forecast period of 2023 to 2031. The rapid expansion of the market reflects the transformative potential of cloud-based AI technologies across diverse industries.
Cloud-basedโฆ
![Global Smart Agriculture Market Poised for Significant Growth, Expected to Exceed $39 Billion by 2031: TMR Analysis](https://cdn.open-pr.com/L/8/L812594380_g.jpg)
Global Smart Agriculture Market Poised for Significant Growth, Expected to Excee โฆ
The Global Smart Agriculture Market (ในใใผใ่พฒๆฅญๅธๅ ด), valued at approximately US$ 10.02 billion in 2020, is set to experience robust expansion, with an anticipated compound annual growth rate (CAGR) of 13.30% from 2021 to 2031. Market analysts project that the sector will surpass US$ 39.02 billion by the end of the forecast period, driven by advancements in technology and increasing adoption of digital solutions in farming practices.
Download Sample PDF from Here-โฆ
![Real-Time Flood Monitoring & Warning System Market Expected to Grow at 6.2% CAGR, Reaching $359.5 Million by 2031: TMR Analysis](https://cdn.open-pr.com/L/8/L812382174_g.jpg)
Real-Time Flood Monitoring & Warning System Market Expected to Grow at 6.2% CAGR โฆ
The Global Real-Time Flood Monitoring and Warning System Market (์ค์๊ฐ ํ์ ๋ชจ๋ํฐ๋ง ๋ฐ ๊ฒฝ๊ณ ์์คํ
์์ฅ), valued at over USD 184.1 million in 2020, is set to witness substantial growth over the next decade. According to industry analysts, the market is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2021 to 2031, ultimately surpassing USD 359.5 million by the end of the forecast period.
The increasingโฆ
![Global Asset and Wealth Management Market Set for Explosive Growth, Projected to Reach $11.8 Billion by 2031: TMR Analysis](https://cdn.open-pr.com/L/8/L812248006_g.jpg)
Global Asset and Wealth Management Market Set for Explosive Growth, Projected to โฆ
The Global Asset and Wealth Management Market (่ณ็ฃใใใณ่ณ็ฃ็ฎก็ๅธๅ ด), valued at US$ 3.5 billion in 2021, is projected to expand at a robust CAGR of 13.0% from 2022 to 2031, reaching a market value of US$ 11.8 billion by the end of the forecast period.
The asset and wealth management industry is witnessing rapid evolution, spurred by the integration of advanced technologies, regulatory changes, and shifting investor demographics. As technology plays anโฆ
More Releases for Car
Car Rental Services Market Forecast to 2028 Covid-19 Impact and Global Analysis โฆ
Car rental services are a process of hiring/renting a car for a limited period from a rental company. Various companies like Uber Technologies, Europcar rent the vehicles for a short period ranging from few hours to weeks. The different types of cars rented by the company include Luxury Car, executive car, and economical car among others. Additionally, vehicle renting agencies also offer other products such as insurance, entertainment systems, andโฆ
Central African Republic: Country Intelligence Report | Telecel, Orange CAR, Moo โฆ
HTF Market Intelligence released a new research report of 36 pages on title 'Central African Republic: Country Intelligence Report' with detailed analysis, forecast and strategies. The market Study is segmented by key a region that is accelerating the marketization. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources. The study covers key regions that includes Centralโฆ
Car Rentals Market Growth Strategies and Innovative Technology Transformation by โฆ
Worldwide Market Reports has announced the addition of the "Car Rentals Market Report 2020-2027 Production, Sales And Consumption Status And Prospects Professional Research", The report classifies the global Car Rentals Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.
The emergence of own-brand digital ordering platform has been trending in the global Car Rentals market. Car Rentals such asโฆ
Luxury Car Leasing Market Competitors Analysis By German Rent A Car, ANI Technol โฆ
'Global Luxury Car Leasing Market Research Report' the report is complete with an elaborate research undertaken by prominent analysts and a detailed analysis of the global industry place. The Luxury Car Leasing report is fragmented in several features which include manufacturers, region, type, application, market status, market share, growth rate, future trends, market drivers, opportunities, challenges, emerging trends, risks, entry barriers, sales channels, and distributors which are again elaborated inโฆ
Car Wash Market is Thriving Worldwide 2026 | Super Star Car Wash, Autobell Car W โฆ
This Car Wash Market research report offers you an array of insights about Automotive industry and business solutions that will support to stay ahead of the competition. Systematic investment analysis is also underlined in this Car Wash Market report which forecasts impending opportunities for the market players.This market report is the outcome of persistent efforts lead by knowledgeable forecasters, innovative analysts and brilliant researchers who carries out detailed and diligentโฆ
Car Rentals Market Growth 2020-2025: Sixt Rent A Car, Malkey Rent A Car, Casons โฆ
Car Rentals Industry
Description
Wiseguyreports.Com Adds "Car Rentals -Market Demand, Growth, Opportunities and Analysis Of Top Key Player Forecast To 2025" To Its Research Database
The report begins from overview of Industry Chain structure, and describes industry environment, then analyses market size and forecast of Car Rentals by product, region and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis and value chainโฆ