logo
logo
Community
Pricing
Sign in
menu-h
  1. Automotive

The Global Car Rental Market Growth Accelerated By Convenience And Affordability

avatar
Leena Shedmake
The Global Car Rental Market Growth Accelerated By Convenience And Affordability

The global Car Rental Market provides convenient doorstep access to vehicles for personal and business use. Car rental service offers affordable mobility solutions without vehicle ownership costs like insurance, tax, and maintenance.

The global car rental market is estimated to be valued at US$ 133.23 Bn in 2023 and is expected to exhibit a CAGR of 2.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:


Rise of rental aggregators: The car rental market trend is towards consolidation as several rental aggregator platforms have emerged that allow customers to find and book vehicles across different rental operators on a single platform. These rental aggregators enhance convenience for customers and improve fleet utilization for rental operators through centralized operations and data analytics. Their rise is expected to accelerate the growth of the overall car rental market by bringing in more customers and expanding fleet sizes of rental operators.


Segment Analysis


The global car rental market is bifurcated into business rental and leisure rental by rental category. The leisure rental sub segment dominated the market in 2021 with a share of over 60% as many travel for leisure purposes such as vacations, holidays, and weekends. This is because people prefer renting cars over using their personal vehicles or public transport for leisure travels to feel comfortable and have flexibility to explore different places.


Key Takeaways


The Global Car Rental Market Demand is expected to witness high growth. The global car rental market is estimated to be valued at US$ 133.23 Bn in 2023 and is expected to exhibit a CAGR of 2.9% over the forecast period 2023 to 2030.


Regional analysis:

The car rental market in North America is projected to witness the highest growth during the forecast period. This is attributed to factors such as high mobility needs, developed road infrastructure, increasing tourism and business trips. The United States dominates the regional market owing to the large fleet size of rental cars and high mobility trends.


Key players:

Key players operating in the car rental market are Aries Shipbroking (Asia) Pte Ltd.,Braemar Shipping Services Plc,BRS Group,Chowgule Brothers Pvt. Ltd.,Clarkson PLC,E.A. Gibson Shipbrokers Ltd.,Fearnleys AS,Galbraiths Ltd.,Howe Robinson Partners Pte Ltd.,INTEROCEAN,Lorentzen & Stemoco AS,Maersk Broker KS,Maritime London Ltd.,McQuilling Partners Inc.,Poten and Partners Inc.

Explore more information on this topic, Please visit-

https://www.marketwebjournal.com/car-rental-market-growth-and-trnds-analysis-share-size-demand-forecast/ 

Explore more trending article related this topic:

https://masstamilan.in/rise-of-off-price-retail-choosing-value-over-high-prices/ 

collect
0
avatar
Leena Shedmake
Related Articles
The global Car Rental Market Growth Accelerated by Increased Business and Leisure Travel
2024-02-01
img
The car rental industry benefits through increased business and leisure travel across various regions of the world. The global Car Rental Market is estimated to be valued at US$ 153. International travel and tourism is growing steadily, benefiting the car rental business. Segment Analysis The global car rental market size can be segmented by vehicle type, mode of booking and application. The global Car Rental Market is estimated to be valued at US$ 153. Regional analysis: North America dominates the global car rental market currently.
collect
0
Luxury Car Rental Market: Global Industry Analysis and Forecast (2021-2027) Trends, Statistics, Dyna
2022-12-30
img
A Luxury Car Rental Market is one that offers superior performance, comfort, quality, and prestige than a conventional car for a higher price. com/report/req_sample/Luxury-Car-Rental-Market/1056 Luxury Car Rental Market Scope:According to manufacturers, geographic areas, product categories, and application areas, this Stellar Market Research report categorises the market for Luxury Car Rental market. Which application segment emerged as the leading segment in the Luxury Car Rental market? What key trends are expected to emerge in the Luxury Car Rental market in the forecast period? com+91 20 6630 3320   +91 96071 95908Related Report Link:https://topprnews.
collect
0
Growing Vehicle Ownership In Mexico To Boost The Growth Of Mexico Car Rental Market
2023-11-10
img
The global Mexico Car Rental Market is estimated to be valued at US$ 1220. The growing vehicle ownership and tourism industry in Mexico is contributing to the demand for car rental services in the country. Expanding transportation infrastructure including airports and highways is also supporting the growth of Mexico car rental market. Regional analysis: Mexico dominates car rental market in Latin America accounting for over 45% revenue share in 2022. , Fox Rent A Car, Thrifty Car Rental Inc.
collect
0
Car Rental is an LLC type business that leases fleet vehicles and rents them to customers at pre-determined costs
2022-02-22
img
A car rental service should be able to maintain a positive cash flow even in a tough economy. It's a good idea to spend marketing money on advertising the car rental service on social media. Most car rental services provide basic amenities, such as Bluetooth, battery charging points, and Wi-Fi. It is recommended to book a rental car well in advance for the best rates. However, cancellation policies must be considered when booking a car rental.
collect
0
Analyzing the Global Car Rental Market: A Comprehensive Study
2023-08-03
img
This report presents a comprehensive analysis of the global car rental market, highlighting key trends, drivers, challenges, and future prospects. Major car rental companies, as well as ride-sharing platforms offering rental services, have intensified competition, leading to increased innovation and customer-centric solutions. This shift in preference has driven car rental companies to invest in electric and hybrid vehicles to meet sustainability goals. Future Outlook:The future of the car rental market remains promising, with several trends shaping the industry. Conclusion:In conclusion, the global car rental market is witnessing robust growth, driven by factors such as increased travel, technological advancements, and changing consumer preferences.
collect
0
Delhi Car Rental | Car Rental in Delhi
2021-10-19
img

India Tour Taxi is the best Delhi car rental service company in Delhi.

We offer the lowest price for car rental in Delhi.

Book your favorite from Economy cars, Luxury cars, SUV cars on rent in Delhi for the Golden Triangle trip. 

collect
0
WHO TO FOLLOW
MORE FROM AUTHOR
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more
WHO TO FOLLOW
Press enter to search  enter
articles
Car Rack Market: Regulatory Landscape and Safety Standards
2023-07-19
img
The car rack market is subject to various regulatory requirements and safety standards that ensure the protection of consumers and promote safe transportation practices. Load capacity regulations establish the maximum weight limits that car racks can safely carry, preventing overloading and potential accidents. Following these regulations is crucial to maintain the stability and safety of the car rack during transport. Structural integrity standards focus on the durability and strength of car rack market. The regulatory landscape and safety standards play a vital role in safeguarding consumers and ensuring that car racks meet stringent quality and safety requirements.
collect
0
Beno.com Luxury Car Rental Marketplace
2023-07-25
img
We collaborate with renowned luxury car rental agencies across the globe to ensure that our customers have access to the most prestigious and sought-after vehicles in the market. That's why we offer a range of exclusive services to elevate your luxury car rental experience to new heights. Our user-friendly interface allows you to quickly find the ideal luxury car for your needs and complete the reservation with just a few clicks. Upon delivery of your rented luxury car, you can enjoy the utmost convenience with our doorstep service. Each luxury car in our fleet undergoes regular inspections and meticulous maintenance to ensure optimal performance and maximum comfort for every journey.
collect
0
Car Rental Market Is Estimated To Witness High Growth Owing To the Increasing Demand for Rental Services
2023-09-27
img
The global car rental market is estimated to be valued at US$ 80. With the rising trend of travel and tourism, the demand for car rental services has witnessed significant growth. In conclusion, the car rental market is expected to witness high growth due to the increasing demand for rental services. PEST Analysis: Political: The political landscape plays a significant role in the car rental market. Overall, the car rental market is expected to witness robust growth due to increasing travel demand, economic growth, and technological advancements.
collect
0
Car Rental Market Size, Share, Analysis Report & Forecast to 2030
2023-07-13
img
The global car rental market is experiencing substantial growth, with a promising future ahead. The car rental market is highly competitive, with both international and regional players vying for market share. However, the car rental market is not immune to challenges. About Coherent Market InsightsCoherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. ShahCoherent Market Insights Pvt Ltd,533 Airport Boulevard, Suite 400, Burlingame,CA 94010, United StatesPhone: US +12067016702 / UK +4402081334027JAPAN:+81-50-5539-1737INDIA:+91-848-285-0837Email: sales@coherentmarketinsights.
collect
0
Benefits of Renting a Luxury Car for Dubai Trip
2022-04-22
img
Either it may be your business trip, event or honeymoon and a family holiday you can hire any luxurious car from Dubai luxury car rental. Benefits of renting a luxury car for Dubai TripThis place is constructed with some extraordinary skills and ideas. Here are few benefits of renting a luxury car for your Dubai trip are as follows:Peace of mindYou can travel whole city as per your plan. Comfort and classYou going to enjoy supreme and extravagant comfort in your own rented luxury car. You can reach out to us to hire a rental car for your Dubai trip.
collect
0
Why do people rent a car in an international city like Dubai?
2022-02-03
img
There are plenty of reasons to take a service from car rental companies in Dubai. Many tourists and locals in the emirates prefer renting a car to public transport, and safety is absolutely not the reason for avoiding public means. Renting a car in an international city like Dubai will surely save your waiting time for public means. You can rent from fleets of top brandsThere are numerous sports car rentals in Dubai and offer an exclusive rare collection of cars on rent. You can get skilled driversWhen you rent a car in an international city like Dubai, you can't drive due to not having a valid license or any other issue.
collect
0
Rent a Car in Dubai
2021-11-08
img

Rent a Car in Dubai with Quick Drive.

Get the best deals for Car Rental in Dubai.

Cheap and Affordable Cars for Rent in Dubai.

collect
0
Car Rental Market Driven By Growing Travel And Tourism Industry
2023-12-29
img
The car rental market provides mobility solutions through rental of passenger cars, light commercial vehicles and others for both business and leisure travellers. Additionally, growing business needs have increased demand for temporary vehicle rental solutions. The global Car Rental Market is estimated to be valued at US$ 133. The increasing internet and smartphone penetration worldwide is further propelling the online car rental trend. Porter's Analysis Threat of new entrants: The threat of new entrants in the car rental market is moderate.
collect
0
The Global Mexico Car Rental Market Growth Accelerated By Expansion Of E-Commerce And Mobility As A Service Trend
2023-12-29
img
The car rental market in Mexico has grown significantly over the past few years owing to increasing urbanization, rising disposable incomes, and growing tourism industry. The global Mexico Car Rental Market is estimated to be valued at US$ 1220. Segment AnalysisThe Mexico car rental market is dominated by the economy car rental segment. Economy car rentals provide basic features and functionalities at low prices making them attractive for travelers with limited budgets. Regional analysisThe Mexico car rental market in Central Mexico region currently holds the largest share and is expected to maintain its dominance during the forecast period.
collect
0
Best Car Hire near me | Best Car Rental near me | Car on Hire in Mumbai
2021-05-18
img

Letzrent best rental aggregators in India.

car hire near me, car rental near me, best car rental deals, car rental services, easy car rental car rental companyhttps://letzrent.com/Car Hire near me, Car Rental near me, Car on Hire in Mumbai, self drive car hire, car on hire, self drive car rental, exotic car rental near me, car rental services, easy car rental, car rental company

collect
0
Europe Car Rental Market Trends, Share, Revenue, Growth Drivers, Business Challenges, Opportunities and Future Competition till 2032: SPER Market Research
2024-05-01
img
Renting a car gives people the opportunity to explore new places, negotiate unfamiliar terrains, and keep control of their schedule. Furthermore, the growing popularity of flexible mobility options, such as car-sharing and ride-hailing services, is driving market expansion. However, the use of telematics and advanced networking technology raises the cost of the vehicle, which raises the cost of rental services. sample=1Impact of COVID-19 on the Europe Car Rental MarketCOVID-19 had a significant impact on the European economy. However, after lockdowns were removed, vehicle rental companies saw a surge in demand as clients chose rental services over public transit for safety and hygiene reasons.
collect
0
5 Reasons why you should hire a super car for your Dubai Trip
2021-10-21
img

 Dubai is a hot spot for many travelers who visit the city to enjoy life here.

To make their trip memorable, they must experience a ride in Dubai Luxury Cars at least once in their life.

For more information visit: https://www.dubailuxurycars.ae/blog-5-reasons-why-you-should-hire-a-super-car-for-your-Dubai-trip.aspx

collect
0
Car Rental Market Shares in US & Canada
2022-12-06
img
The increases in mobile application, technology advancement, cost-effectiveness boost the market and provide a new market sector. Improving new car rental apps is forming new growth opportunities for the market. Request Free Sample of Car Rental Market Share Report @ https://www. com/sample_request/6409 Car Rental Market Share Key Players·        Enterprise Holdings Inc·        Avis Budget Group Inc·        Hertz Global Holdings Inc·        ANI Technologies Pvt. The increasing tourism market in Europe is increasing the market share and boosting the car rentals in the region.
collect
0
Luxury car rental
2019-09-25
img

We are Luxury car rental we own only the most recent models; in fact, most of our cars are of the current year.

Whether you are looking for a Mercedes, a luxury SUVs, Range Rover, BMW, Porsche, Audi, Bentley, sport convertible car to rent, you have come to the right place.

collect
0
Car Rack Market: Regulatory Landscape and Safety Standards
2023-07-19
img
The car rack market is subject to various regulatory requirements and safety standards that ensure the protection of consumers and promote safe transportation practices. Load capacity regulations establish the maximum weight limits that car racks can safely carry, preventing overloading and potential accidents. Following these regulations is crucial to maintain the stability and safety of the car rack during transport. Structural integrity standards focus on the durability and strength of car rack market. The regulatory landscape and safety standards play a vital role in safeguarding consumers and ensuring that car racks meet stringent quality and safety requirements.
The Global Mexico Car Rental Market Growth Accelerated By Expansion Of E-Commerce And Mobility As A Service Trend
2023-12-29
img
The car rental market in Mexico has grown significantly over the past few years owing to increasing urbanization, rising disposable incomes, and growing tourism industry. The global Mexico Car Rental Market is estimated to be valued at US$ 1220. Segment AnalysisThe Mexico car rental market is dominated by the economy car rental segment. Economy car rentals provide basic features and functionalities at low prices making them attractive for travelers with limited budgets. Regional analysisThe Mexico car rental market in Central Mexico region currently holds the largest share and is expected to maintain its dominance during the forecast period.
Beno.com Luxury Car Rental Marketplace
2023-07-25
img
We collaborate with renowned luxury car rental agencies across the globe to ensure that our customers have access to the most prestigious and sought-after vehicles in the market. That's why we offer a range of exclusive services to elevate your luxury car rental experience to new heights. Our user-friendly interface allows you to quickly find the ideal luxury car for your needs and complete the reservation with just a few clicks. Upon delivery of your rented luxury car, you can enjoy the utmost convenience with our doorstep service. Each luxury car in our fleet undergoes regular inspections and meticulous maintenance to ensure optimal performance and maximum comfort for every journey.
Best Car Hire near me | Best Car Rental near me | Car on Hire in Mumbai
2021-05-18
img

Letzrent best rental aggregators in India.

car hire near me, car rental near me, best car rental deals, car rental services, easy car rental car rental companyhttps://letzrent.com/Car Hire near me, Car Rental near me, Car on Hire in Mumbai, self drive car hire, car on hire, self drive car rental, exotic car rental near me, car rental services, easy car rental, car rental company

Car Rental Market Is Estimated To Witness High Growth Owing To the Increasing Demand for Rental Services
2023-09-27
img
The global car rental market is estimated to be valued at US$ 80. With the rising trend of travel and tourism, the demand for car rental services has witnessed significant growth. In conclusion, the car rental market is expected to witness high growth due to the increasing demand for rental services. PEST Analysis: Political: The political landscape plays a significant role in the car rental market. Overall, the car rental market is expected to witness robust growth due to increasing travel demand, economic growth, and technological advancements.
Europe Car Rental Market Trends, Share, Revenue, Growth Drivers, Business Challenges, Opportunities and Future Competition till 2032: SPER Market Research
2024-05-01
img
Renting a car gives people the opportunity to explore new places, negotiate unfamiliar terrains, and keep control of their schedule. Furthermore, the growing popularity of flexible mobility options, such as car-sharing and ride-hailing services, is driving market expansion. However, the use of telematics and advanced networking technology raises the cost of the vehicle, which raises the cost of rental services. sample=1Impact of COVID-19 on the Europe Car Rental MarketCOVID-19 had a significant impact on the European economy. However, after lockdowns were removed, vehicle rental companies saw a surge in demand as clients chose rental services over public transit for safety and hygiene reasons.
Car Rental Market Size, Share, Analysis Report & Forecast to 2030
2023-07-13
img
The global car rental market is experiencing substantial growth, with a promising future ahead. The car rental market is highly competitive, with both international and regional players vying for market share. However, the car rental market is not immune to challenges. About Coherent Market InsightsCoherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. ShahCoherent Market Insights Pvt Ltd,533 Airport Boulevard, Suite 400, Burlingame,CA 94010, United StatesPhone: US +12067016702 / UK +4402081334027JAPAN:+81-50-5539-1737INDIA:+91-848-285-0837Email: sales@coherentmarketinsights.
Benefits of Renting a Luxury Car for Dubai Trip
2022-04-22
img
Either it may be your business trip, event or honeymoon and a family holiday you can hire any luxurious car from Dubai luxury car rental. Benefits of renting a luxury car for Dubai TripThis place is constructed with some extraordinary skills and ideas. Here are few benefits of renting a luxury car for your Dubai trip are as follows:Peace of mindYou can travel whole city as per your plan. Comfort and classYou going to enjoy supreme and extravagant comfort in your own rented luxury car. You can reach out to us to hire a rental car for your Dubai trip.
5 Reasons why you should hire a super car for your Dubai Trip
2021-10-21
img

 Dubai is a hot spot for many travelers who visit the city to enjoy life here.

To make their trip memorable, they must experience a ride in Dubai Luxury Cars at least once in their life.

For more information visit: https://www.dubailuxurycars.ae/blog-5-reasons-why-you-should-hire-a-super-car-for-your-Dubai-trip.aspx

Why do people rent a car in an international city like Dubai?
2022-02-03
img
There are plenty of reasons to take a service from car rental companies in Dubai. Many tourists and locals in the emirates prefer renting a car to public transport, and safety is absolutely not the reason for avoiding public means. Renting a car in an international city like Dubai will surely save your waiting time for public means. You can rent from fleets of top brandsThere are numerous sports car rentals in Dubai and offer an exclusive rare collection of cars on rent. You can get skilled driversWhen you rent a car in an international city like Dubai, you can't drive due to not having a valid license or any other issue.
Car Rental Market Shares in US & Canada
2022-12-06
img
The increases in mobile application, technology advancement, cost-effectiveness boost the market and provide a new market sector. Improving new car rental apps is forming new growth opportunities for the market. Request Free Sample of Car Rental Market Share Report @ https://www. com/sample_request/6409 Car Rental Market Share Key Players·        Enterprise Holdings Inc·        Avis Budget Group Inc·        Hertz Global Holdings Inc·        ANI Technologies Pvt. The increasing tourism market in Europe is increasing the market share and boosting the car rentals in the region.
Rent a Car in Dubai
2021-11-08
img

Rent a Car in Dubai with Quick Drive.

Get the best deals for Car Rental in Dubai.

Cheap and Affordable Cars for Rent in Dubai.

Luxury car rental
2019-09-25
img

We are Luxury car rental we own only the most recent models; in fact, most of our cars are of the current year.

Whether you are looking for a Mercedes, a luxury SUVs, Range Rover, BMW, Porsche, Audi, Bentley, sport convertible car to rent, you have come to the right place.

Car Rental Market Driven By Growing Travel And Tourism Industry
2023-12-29
img
The car rental market provides mobility solutions through rental of passenger cars, light commercial vehicles and others for both business and leisure travellers. Additionally, growing business needs have increased demand for temporary vehicle rental solutions. The global Car Rental Market is estimated to be valued at US$ 133. The increasing internet and smartphone penetration worldwide is further propelling the online car rental trend. Porter's Analysis Threat of new entrants: The threat of new entrants in the car rental market is moderate.