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Global Car Rental Market Size

Global Car Rental Market size was valued at USD 98 billion in 2021 and is poised to grow from USD 102.12 billion in 2022 to USD 141.93 billion by 2030, growing at a CAGR of 4.2% in the forecast period (2023-2030).

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Global Car Rental Market Size

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  1. Global Car Rental Market Size, Share, Growth Analysis, By Application, By Vehicle type , By End user - Industry Forecast 2023-2030 Global Car Rental Market size was valued at USD 98 billion in 2021 and is poised to grow from USD 102.12 billion in 2022 to USD 141.93 billion by 2030, growing at a CAGR of 4.2% in the forecast period (2023-2030). Car rental Markets are becoming popular as they enable their customers to travel remotely and to long distances at certain reasonable cost.These cars are rented mainly through app based bookings after the The rental company leases the car from the owners. There are many factors which have helped the car rental market to grow at this high speed. Increase in air traffic and growth in the trend of online car booking. Car rentals are a preferred option for travel as they are economical and faster mode of transportation compared to another.As the major population of millennials don't own the car, it has helped the car rental companie to grow.Along with rental car, many other value added services are provided by the agency or the form that includes WI Fi, Entertainment device, safety seats for children and insurance policy & car damage services.However, major connectivity issues and lower Internet penetrations in developing countries has hampered the growth of car rental market.

  2. Analysis by Application By application, the global market is divided into many segments such as Leisure/Tourism and Business,Local Usage, Airport Transport and others . Airport transport held the largest global Car rental Market share due to the wide range of public and business travels from airport to the city center. As the number of airports are increasing in the developing countries, it is estimated that the airport transport segment will dominate the market in the forecasted period.After the ease in lockdown, the number of travelers all around the globe has increased, specifically the air travelers. Therefore, in recent years and in future coming years, it is anticipated to boost the segment growth on a higher level.Along with it, lack of availability of flexible public transport and presence of leading market participants on airports around the clock, will help the segment to grow. View more info:https://www.skyquestt.com/report/car-rental-market Top Player’s Company Profiles •Europcar Mobility Group •Hertz Global Holdings •Alamo Rent A Car •National Car Rental About us: SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happyclients globally. Address: 1 Apache Way, Westford, Massachusetts 01886 Phone: USA (+1) 617-230-0741 Email: sales@skyquestt.com linkedin Twitter Facebook

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