MUV Rental Market to grow at a CAGR of 17.6% from 2022 to 202|The growth of the travel and tourism industry to boost the market growth - Technvio

NEW YORK, Aug. 3, 2023 /PRNewswire/ -- The MUV rental market size is set to grow by USD 8,070 million between 2022 to 2027, and register a CAGR of 17.6%, according to Technavio's latest market research report estimates. The passenger vehicles segment will account for a major share of the market's growth during the forecast period. The cost-effective nature of renting a passenger vehicle that includes a MUV, rather than purchasing, is the reason for the popularity of MUV rentals in various regions such as North America and Europe. The main factors driving the growing consciousness of MUV car rental are urbanization and increasing internet penetration around the world. In addition, market players offer subscription car rental programs to increase revenue and improve the penetration of a particular brand. High-end MUVs, which require a lot of capital, are rented by customers using the car rental subscription model at an affordable price. Technavio offers an up-to-date analysis of the current global market scenario and the overall market environment. View Sample Report

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Airport Van Rental, Aspark Holidays Pvt. Ltd., Autorent Car Rental LLC, Avis Budget Group Inc., Carzonrent India Pvt. Ltd., Centauro Rent a Car S.L.U., DriiveMe Ltd., Enterprise Holdings Inc., Europcar Mobility Group SA, Expedia Group Inc., Getaround Inc., GO Rentals Auckland Ltd., Hertz Global Holdings Inc., Localiza Rent a Car SA, Movida Participacoes SA, SIXT SE, Turismo Gargo SA de CV, Turo Inc., Uber Technologies Inc., and Zoomcar India Pvt. Ltd. are some of the major market participants.

MUV Rental Market 2023-2027: Segmentation

• Type 
• Passenger Vehicles
• Cargo Vehicles
• Application 
• Leisure
• Commercial
• Geography 
• North America
• Europe
• APAC
• Middle East And Africa
• South America

The report also covers the following areas:

• MUV Rental Market size
• MUV Rental Market trends
• MUV Rental Market industry analysis

MUV Rental Market 2023-2027: Company Analysis and Scope

Some of the major companies in the MUV rental market include Airport Van Rental, Aspark Holidays Pvt. Ltd., Autorent Car Rental LLC, Avis Budget Group Inc., Carzonrent India Pvt. Ltd., Centauro Rent a Car S.L.U., DriiveMe Ltd., Enterprise Holdings Inc., Europcar Mobility Group SA, Expedia Group Inc., Getaround Inc., GO Rentals Auckland Ltd., Hertz Global Holdings Inc., Localiza Rent a Car SA, Movida Participacoes SA, SIXT SE, Turismo Gargo SA de CV, Turo Inc., Uber Technologies Inc., and Zoomcar India Pvt. Ltd.. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ companies operating in the market.

Company Offerings 

• Airport Van Rental: The company offers MUV rental such as cargo vans and passenger vans.
• Aspark Holidays Pvt. Ltd.: The company offers MUV rental such as luxury van and tempo traveller.
• Autorent Car Rental LLC: The company offers MUV rental such as hatchback rental and SUV rental.

MUV Rental Market 2023-2027: Market Dyanmics 

Key Driver - 

The growth of the travel and tourism industry is driving growth in the MUV rental market. Owing to the growing popularity of travel and tourism, the MUV rental market is experiencing significant growth. With easy access to MUV through mobile apps, travelers can avoid the hassle of long waiting or public transport schedules. The growth of the MUV car rental market is also positively influenced by the development of innovative technologies. MUV rental companies easily offer self-driving GPS options to their customers due to the improvements in positioning systems, mapping software, and artificial intelligence. Hence, vehicle rental adoption during the forecast period is expected to be driven by these factors, which will grow the MUV rental market. 

Leading Trend - 

The growing incorporation of advanced digital technologies in car rental services is a primary trend in the market. To enable cars to be made available to customers quickly, operators are streamlining their membership procedures. The main reason for the growing addiction to technology is the large number of internet users and their subsequent penetration with smartphones. Digital media such as smartphones for advertising are often used by many MUV rental companies. To make life easier for their customers, they regularly add new features and updates to their Mobile Apps. Hence, these factors will drive the growth of the market during the forecast period.

Significant Challenge - 

The rising number of car-sharing services is a major challenge in the MUV rental market. The idea of car sharing started to push momentum, with the aim of reducing carbon emissions and congestion on the streets. Unlike a regular car rental service, where the car is rented at a designated location and usually returned after one or more days, the car-sharing model allows the use of freely parked cars in urban areas or commercial areas. Moreover, cities in both developed and developing economies, car sharing is gaining popularity. The car-sharing business model is designed for long-distance travel and is aimed at drivers who want to fill empty on trips. Therefore, the increasing adoption of car-sharing services will impede the growth of the MUV rental market during the forecast period. 

Drivers, Trends & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a sample report!

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MUV Rental Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist MUV rental market growth during the next five years
• Estimation of the MUV rental market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the MUV rental market
• Analysis of the market's competitive landscape and detailed information on companies
• Comprehensive details of factors that will challenge the growth of MUV rental market companies

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The car rental market size is estimated to grow at a CAGR of 20.16% between 2022 and 2027. The market size is forecasted to increase by USD 129.71 billion. Furthermore, this car rental market report extensively covers market segmentation by mode of booking (offline and online), type (economy cars, executive cars, luxury cars, SUVs, and MUVs), rental category (airport transport, local transport, outstation transport, and other transport), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The increase in vehicle ownership cost is notably driving the market growth during the forecast period.

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Company Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of companies included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global MUV rental market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global muv rental market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 Application Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Passenger vehicles - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Passenger vehicles - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Passenger vehicles - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Passenger vehicles - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Passenger vehicles - Year-over-year growth 2022-2027 (%)

• 6.4 Cargo vehicles - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Cargo vehicles - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Cargo vehicles - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Cargo vehicles - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Cargo vehicles - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ million)
• Exhibit 43: Data Table on Market opportunity by Type ($ million)

7 Market Segmentation by Application

• 7.1 Market segments
• Exhibit 44: Chart on Application - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 46: Chart on Comparison by Application
• Exhibit 47: Data Table on Comparison by Application

• 7.3 Leisure - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Leisure - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Leisure - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Leisure - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Leisure - Year-over-year growth 2022-2027 (%)

• 7.4 Commercial - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Commercial - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Commercial - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Commercial - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Commercial - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Application 
• Exhibit 56: Market opportunity by Application ($ million)
• Exhibit 57: Data Table on Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 63: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 75: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027 
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Italy - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Italy - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Italy - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Italy - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Italy - Year-over-year growth 2022-2027 (%)

• 9.12 France - Market size and forecast 2022-2027 
• Exhibit 99: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Company Landscape

• 11.1 Overview

• 11.2 Company landscape 
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 108: Impact of key risks on business

12 Company Analysis

• 12.1 Companies covered
• Exhibit 109: Companies covered

• 12.2 Market positioning of Companies
• Exhibit 110: Matrix on company position and classification

• 12.3 Airport Van Rental
• Exhibit 111: Airport Van Rental - Overview
• Exhibit 112: Airport Van Rental - Product / Service
• Exhibit 113: Airport Van Rental - Key offerings

• 12.4 Aspark Holidays Pvt. Ltd. 
• Exhibit 114: Aspark Holidays Pvt. Ltd. - Overview
• Exhibit 115: Aspark Holidays Pvt. Ltd. - Product / Service
• Exhibit 116: Aspark Holidays Pvt. Ltd. - Key offerings

• 12.5 Autorent Car Rental LLC 
• Exhibit 117: Autorent Car Rental LLC - Overview
• Exhibit 118: Autorent Car Rental LLC - Product / Service
• Exhibit 119: Autorent Car Rental LLC - Key offerings

• 12.6 Avis Budget Group Inc. 
• Exhibit 120: Avis Budget Group Inc. - Overview
• Exhibit 121: Avis Budget Group Inc. - Business segments
• Exhibit 122: Avis Budget Group Inc. - Key offerings
• Exhibit 123: Avis Budget Group Inc. - Segment focus

• 12.7 Carzonrent India Pvt. Ltd. 
• Exhibit 124: Carzonrent India Pvt. Ltd. - Overview
• Exhibit 125: Carzonrent India Pvt. Ltd. - Product / Service
• Exhibit 126: Carzonrent India Pvt. Ltd. - Key offerings

• 12.8 Centauro Rent a Car S.L.U. 
• Exhibit 127: Centauro Rent a Car S.L.U. - Overview
• Exhibit 128: Centauro Rent a Car S.L.U. - Product / Service
• Exhibit 129: Centauro Rent a Car S.L.U. - Key offerings

• 12.9 Enterprise Holdings Inc. 
• Exhibit 130: Enterprise Holdings Inc. - Overview
• Exhibit 131: Enterprise Holdings Inc. - Product / Service
• Exhibit 132: Enterprise Holdings Inc. - Key news
• Exhibit 133: Enterprise Holdings Inc. - Key offerings

• 12.10 Europcar Mobility Group SA 
• Exhibit 134: Europcar Mobility Group SA - Overview
• Exhibit 135: Europcar Mobility Group SA - Business segments
• Exhibit 136: Europcar Mobility Group SA - Key news
• Exhibit 137: Europcar Mobility Group SA - Key offerings
• Exhibit 138: Europcar Mobility Group SA - Segment focus

• 12.11 Expedia Group Inc.
• Exhibit 139: Expedia Group Inc. - Overview
• Exhibit 140: Expedia Group Inc. - Business segments
• Exhibit 141: Expedia Group Inc. - Key offerings
• Exhibit 142: Expedia Group Inc. - Segment focus

• 12.12 Hertz Global Holdings Inc. 
• Exhibit 143: Hertz Global Holdings Inc. - Overview
• Exhibit 144: Hertz Global Holdings Inc. - Business segments
• Exhibit 145: Hertz Global Holdings Inc. - Key offerings
• Exhibit 146: Hertz Global Holdings Inc. - Segment focus

• 12.13 Localiza Rent a Car SA 
• Exhibit 147: Localiza Rent a Car SA - Overview
• Exhibit 148: Localiza Rent a Car SA - Business segments
• Exhibit 149: Localiza Rent a Car SA - Key offerings
• Exhibit 150: Localiza Rent a Car SA - Segment focus

• 12.14 Movida Participacoes SA 
• Exhibit 151: Movida Participacoes SA - Overview
• Exhibit 152: Movida Participacoes SA - Business segments
• Exhibit 153: Movida Participacoes SA - Key offerings
• Exhibit 154: Movida Participacoes SA - Segment focus

• 12.15 SIXT SE
• Exhibit 155: SIXT SE - Overview
• Exhibit 156: SIXT SE - Business segments
• Exhibit 157: SIXT SE - Key news
• Exhibit 158: SIXT SE - Key offerings
• Exhibit 159: SIXT SE - Segment focus

• 12.16 Turo Inc.
• Exhibit 160: Turo Inc. - Overview
• Exhibit 161: Turo Inc. - Product / Service
• Exhibit 162: Turo Inc. - Key offerings

• 12.17 Uber Technologies Inc. 
• Exhibit 163: Uber Technologies Inc. - Overview
• Exhibit 164: Uber Technologies Inc. - Business segments
• Exhibit 165: Uber Technologies Inc. - Key offerings
• Exhibit 166: Uber Technologies Inc. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 167: Inclusions checklist
• Exhibit 168: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 169: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 170: Research methodology
• Exhibit 171: Validation techniques employed for market sizing
• Exhibit 172: Information sources

• 13.5 List of abbreviations 
• Exhibit 173: List of abbreviations

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