Lewes, DE -- (SBWIRE) -- 07/30/2014 -- The North American car rental market performed well during the review period (2009–2013), driven primarily by the overall good performance of the travel and tourism sector. Domestic trips, intra-regional travel as well as international arrivals to the region increased, leading to a rise in demand for car rental by both business and leisure tourists. The US is the largest market in the region, with the highest number of domestic as well international arrivals in 2013.
The report provides detailed market analysis, information and insights, including:
- Historic and forecast domestic and inbound tourist volumes in North America.
- Detailed analysis of tourist volumes for the three countries: the US, Canada and Mexico.
- Detailed analysis of the car rental market in North America.
- Detailed analysis of the car rental market in the US, Canada and Mexico.
This report provides an extensive analysis related to the car rental market in North America:
- It details historical values for North America's tourism sector for 2009–2013, along with forecast figures for 2014–2018.
- The report provides a detailed analysis and forecast of domestic and inbound tourist flows in North America including analysis of tourism flows in the US, Canada and Mexico.
- It provides comprehensive analysis of car rental market in North American countries – the US, Canada and Mexico – including key developments and competitive landscape.
- It provides comprehensive analysis of the trends in car rental market’s key performance indicators, with values for both the 2009–2013 review period and the 2014–2018 forecast period.
Reasons to Buy
- Take strategic business decisions using historic and forecast market data related to North America's car rental market.
- Understand the demand-side dynamics within the car rental market in North America, along with key market trends and growth opportunities.
- The total number of domestic trips in the US increased from 1.9 billion in 2009 to 2.1 billion in 2013, rising at a review-period CAGR of 1.98%. Over the forecast period, domestic tourist volume will continue to grow at a CAGR of 1.63% to reach 2.22 billion by 2018, driven by improved consumer confidence, rising employment rates and an increase in business travel.
- Domestic tourism drives the travel and tourism sector in Canada, with domestic trips accounting for 86.8% of domestic and inbound trips in the country. The total number of domestic trips increased at a review-period CAGR of 4.68%, rising from 91.4 million in 2009 to 109.7 million in 2013, driven by improving economic conditions within the country, rising consumer confidence, higher disposable incomes and more attractive discounts offered by travel suppliers.
- Leisure travel accounted for 63.4% of the total Mexican domestic trips, while business travel accounted for 18.3%. The average length of domestic trips in Mexico is higher in comparison to the US and Canada. The average number of nights spent on domestic trips in Mexico was 7.4 in 2013 which is significantly higher compared to 2.8 nights in Canada and 3.6 nights in the US.
- The total number of international arrivals to North America increased at a review-period CAGR of 4.33% from 93.0 million in 2009 to 110.2 million in 2013. The US recorded the highest review-period CAGR of 6.18%, while Canada and Mexico recorded CAGRs of 1.38% and 1.55% respectively. Of the total arrivals to the region, 63.8% came from North America while only 36.2% came from other regions (Africa, Asia-Pacific, Europe, Middle East and South and Central America) in 2013.
- Due to its high-quality road infrastructure and limited railways, the US car rental market is well developed. Tourist routes such as Route 66 are key tourist attractions and contribute to the growth of the car rental market in the country. The US car rental industry grew during the review period, with the total market value increasing at a CAGR of 5.35% from US$23.3 billion in 2009 to US$28.6 billion in 2013. Fleet size also increased at a CAGR of 4.20% driven by the expansion of the leading operators, Enterprise, Hertz and Avis.
- Publisher expects the car rental market in Canada to continue to grow over the forecast period. The total market value will increase at a CAGR of 5.89% to reach CAD3.3 billion (US$3.2 billion) by 2018. The utilization rate is also expected to increase from 72.1% in 2013 to 73.8% in 2018. Growth is also expected in the average revenue per day at a forecast-period CAGR of 1.95% while the average rental length will increase from 49.8 in 2013 to 54.9 by 2018. The growth will be supported by the growth in international arrivals and the rising demand for car sharing.
- The Mexican travel and tourism sector grew during the review period, as reflected in the growth of the country’s car rental market. The overall car rental market value in Mexico increased at a review-period CAGR of 5.71%, which can partially be attributed to rising demand for air travel following the growth of LCCs. Business car rentals accounted for 62.4% of the car rental market value in 2013, while leisure rentals accounted for 36.1%. The total fleet size also increased from 29,194 in 2009 to 32,107 in 2013.
Spanning over 100 pages, 79 Tables and 44 Figures “The North American Car Rental Market to 2018” report covering Executive Summary, Domestic Tourism in North America, Inbound Tourism to North America, Car Rental in the US, Car Rental in Canada, Car Rental in Mexico, Car Rental – Key Performance Indicators, Company Profiles – The US, Company Profiles – Canada, Company Profiles – Mexico, Appendix. This report Covered 12 Companies - Enterprise Holdings, Inc., Hertz Global Holdings, Inc., Avis Budget Group, Inc., Fox Rent-A-Car, Inc., Avis Mexico Car Rental, Alamo Rent a Car Mexico, Alquiladora de Vehiculos Automotores SA de CV, Sixt Mexico, Enterprise Rent a Car Canada, Discount Car & Truck Rentals Ltd., Budget Rent-A-Car BC Ltd., Dollar Rent A Car Canada.
Know more about this report at : http://www.marketresearchreports.com/timetric/north-american-car-rental-market-2018
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