DUBLIN, Aug. 8, 2014 /PRNewswire/ -- Research and Markets has announced the addition of the "Global Car Rental (Luxury Cars, Executive Cars, Economy Cars, SUV's, MUV's) Market - Forecast to 2019" report to their offering.
Global car rental market was valued at USD 36.89 billion in 2013, growing at a CAGR of 13.6% from 2014 to 2019. A car rental company rents out vehicles/automobiles for a specific period of time ranging from a few hours to a few months for an appropriate fee. The service is often organized across various local branches, facilitating customers to return the vehicle in a location of their convenience.
In addition, car rental services are often complemented by websites, allowing online reservations and car rental offices are primarily located near airports or busy city areas. Car rental agencies serve people whose cars are temporarily out of service or the ones who do not have access to their vehicles, for example owners of damaged vehicles who are awaiting insurance or repair compensation, or travelers from outside the town. Alongside the basic rental of a vehicle, car rental agencies typically offer extra services, such as GPS navigation systems, insurance and entertainment systems.
The global car rental market is segmented by region into North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW). Increasing GDP levels, increasing volumes of both inbound and domestic tourists coupled with rise in disposable incomes and improving road infrastructure are factors driving the car rental industry. The emerging business class in India and China along with the green revolution in the automobile industry is further driving the car rental market. However, the volatility in petroleum product prices, along with high gasoline price, is expected to affect both consumers spending levels and economic conditions across the globe, thereby leaving a moderate impact on the global car rental industry.
Geographically, North America led the global car rental market in 2013 and the region is expected to continue its dominance in 2019. The car rental market in North America is highly concentrated by players, such as Enterprise, Hertz, Avis Budget Group and other regional and local companies, which have substantial presence at various airports across the U.S. and Canada. Europe and Asia-Pacific followed North America in the global car rental market to collectively account for almost half of the global market revenue share.
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Overview
Chapter 4 Global Car rental Market: By Type of Car
Chapter 5 Global Car Rental Market: By Category
Chapter 6 Competitive Landscape
Chapter 7 Global Car Rental Market - By Region
Chapter 8 Company Profiles
- Al-Futtaim Group
- Avis Budget Group, Inc.
- Eco Rent A Car
- Enterprise Rent-A-Car
- Localiza Rent A Car
- Sixt Rent A Car
- The Hertz Corporation
For more information visit http://www.researchandmarkets.com/research/mf8pbl/global_car_rental
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SOURCE Research and Markets