Incorporation of New Technologies in Car Rental Market Expand Transportation Options for Millennials, Noted Transparency Market Research

ALBANY, New York, June 28, 2019 /PRNewswire/ -- The global car rental market is highly consolidated and features an increasingly competitive dynamic. The leading five players held a sizable combined share of more than 75.0% in 2015. Transparency Market Research (TMR) notes that these companies are Sixt SE, The Hertz Corporation, Europcar, Enterprise Rent-A-Car, and Avis Budget Group, Inc. Car rental companies are increasingly focused on expanding their fleet sizes to meet a wide diversity of customer needs.

Over the years, several players in the global car rental market have made a wide range of models available to customers depending their changing needs. Moreover, TMR notes that in recent years several players are adopting strategies to consolidate their geographic presence by focusing on emerging markets such as in Asia Pacific. Furthermore, key players have laid emphasis on customization for inbound and domestic travelers, with the aim to garner competitive gains in the car rental market.

The global car rental market is anticipated to clock a robust CAGR of 14.40% during 2014 - 2024. The revenues are expected to climb to US$290.07 Bn by 2024-end.

Report PDF Brochure of Report at: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1633

• Top Car Rental Showing Marked Presence in Developed Regions

Among the various regional markets, North America held the sway in 2015, vis-à-vis its global share, and is likely to maintain its status quo in the coming years as well. Presence of top car rental service providers in the region, notably in the U.S. and Canada, makes the region increasingly lucrative. These vehicle rental service providers are always in pursuit of new revenue streams.

• Rising Air Passenger Traffic Spurs Demand for Car Rental for Airport Transport 

Of the various categories, airport transport serves the leading demand in the global car rental market. The growth is fueled by burgeoning air passenger traffic, especially in various developing nations.  Further, constant pursuit of players to consolidate their fleet sizes and offer new vehicle technologies, increasingly to business and luxury travelers, in industrialized nations is likely to bolster prospects in the segment.

Request to View Sample of Report at: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1633 

Car Rental Companies aimed at boosting Leasing Penetration in Emerging Markets

One of the key trends driving the rapid evolution of the car rental market is efforts by car companies to increase the leasing penetration in developing economies across the world. Demands for convenient as well as affordable car rental services is one of the factors propelling growth in the global car rental market. A part of the impetus for car manufacturers is to bolster car sales and capitalize on their inventory in showrooms.

Changing mobility needs of inbound and domestic travelers is helping expand the scope of the car rental market. In developing countries, car rental service providers have garnered sizable revenue gains from meeting needs of convenient outstation tours. Most of them are undertaking intense promotional activities to attract new customers, thereby bolstering the prospects in the car rental market. A case in point is heavy discounts offered by car rental companies.

Have Any Query? Ask Our Industry Expert: https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=1633 

Launch of New Subscription Services adopting Transportation Options for Consumers

1. Industrialized Nations Offer New Revenue Streams
   Over the past few years, the car rental market has witnessed new revenue streams in emerging economies. Car rental service providers are focused on expanding their offering across various cities in industrialized nations such as India and China. 
   Emerging car manufacturers as well as startups looking for stronghold developed markets for car rental are pinning their hopes on turnkey solutions, such as encompassing tiered membership and innovative subscription services. This has considerably expanded the options for young consumers especially millennials in the global car rental market. Availability of new transportation options is expected to create new demand potential for players in the car rental market.
2. Launch of Electric Vehicles Boost Prospects
   The advent of new technologies such as incorporation of advanced gadgets by car rental providers has catalyzed recent growth. Moreover, the foray of car rental API providers has opened new doors to new opportunities to the car rental market. Inclusion of all-electric vehicles by some for consumers in developed markets has started a wave of disruption. Plants to launch of all-electric care sharing in the coming years have raised the ante for new entrants in the car rental market.

Request For Discount On This Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=1633 

The study presented here is based on a report by Transparency Market Research (TMR) titled "Car Rental Market (Car Type - Luxury Cars, Executive Cars, Economy Cars, SUVs, and MUVS; Category - Local Usage, Airport Transport, and Outstation) - Global Industry Analysis, Trend, Size, Share and Forecast, 2016–2024."

Browse Press Release at: https://www.transparencymarketresearch.com/pressrelease/car-rental-market.htm

Car Rental Market is segmented based on:

Car Type

• Luxury Cars
• Executive Cars
• Economy Cars
• SUVs
• MUVS 

Category

• Local Usage
• Airport Transport
• Outstation
• Others 

Geography

• North America
• The U.S.
• Canada
• Mexico
• Europe
• The U.K.
• Germany
• France
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• Middle East and Africa (MEA)
• U.A.E
• South Africa
• Rest of Middle-East and Africa
• Latin America
• Brazil
• Rest of Latin America
• Rest of Latin America

Browse More Consumer Goods & Services Market Research Reports

Popular Research Reports by TMR:

• Baby Car Seat Market - https://www.transparencymarketresearch.com/baby-car-seat-market.html 
• Booster Car Seats Market - https://www.transparencymarketresearch.com/booster-car-seats-market.html 
• Car Purifier Market - https://www.transparencymarketresearch.com/car-purifier-market.html 
• Child Bike Seats Market - https://www.transparencymarketresearch.com/child-bike-seats-market.html 

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact
Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
Website: https://www.transparencymarketresearch.com 
Research Blog: https://www.redfoxinfo.com/

SOURCE Transparency Market Research