Mexico Car Rental Market Seeking Growth from Emerging Market, Views Sought on New Approach
Seattle, WA -- (SBWire) -- 03/04/2020 --Car rental is a platform that offers renting vehicles/automobiles for specific periods, ranging from hours to a few weeks. This service is served by car rental agencies to the people who require a vehicle for the temporary and do not want to own a car. Car rental the agency also serves to the self-moving industry needs, by renting the vans, trucks, motorcycles or scooters. Along with the basic rental service, car rental agencies also serve value-added products such as global positioning system (GPS) navigation systems, insurance, mobile phones, entertainment systems, portable WiFi etc.
The Mexico car rental market is estimated to account for US$ 1,625 Mn in terms of value by the end of 2019.
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Improving living of standard in Mexico and rising number of a manufacturing unit in the country is creating more employment which in turn resulting in increased disposable income. This has resulted in a rising number of trips by leisure travelers to leisure destinations is leading raise the demand for car rental service. Therefore, this is projected to propel the market growth of car rental in the Mexico. Moreover, the strong presence of major players such as Hertz, Avis, Alamo, Budget, Thrifty etc. in the country is also projected to boost the market growth.
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What does all the regional segmentation cover? Can the country of specific interest be added?
Currently, the research report pays particular attention to the following regions:
North America (United States, Canada, Mexico), Europe (Germany, United Kingdom, France, Italy, Russia, Spain, etc.), South America (Brazil, Argentina, etc.) and Middle East and Africa (Saudi Arabia, South Africa, etc.)
A country of specific interest can be included at no additional cost. For the inclusion of more regional segments, quotes may vary.
Mexico City dominated the Mexico car rental market in 2018, accounting for 30.4% share in terms of value, followed by Cancun and Guadalajara, respectively.
Rising trend of using economy and compact cars from leisure travelers and demand for cars is shifting from compact cars to intermediate or SUVs owing to an increased number of business travelers is gaining significant traction in the market. Rising number of business travelers who preferred to adopt SUVs over other compact cars are projected to fuel the market growth over the forecast period. For example, Veracruz is projected to be the new business city in Mexico due to growing foreign direct investments in the city.
The increasing trend of upgrading technologies by companies to make service more convenient and user-friendly. The trend is protected to continue because online car booking and car rental services are on the rise in the region. This is projected to propel market growth.
Players active in the market are The Hertz Corporation, Sixt SE, Avis Budget Group Inc., Alamo, National Car Rental, Europcar Group S.A., MEX Rent a Car, Budget Rent A Car System, Inc., Fox Rent A Car, and Thrifty Car Rental, Inc.
Can we add or profile a new company according to our needs?
Yes, we can add or profile a new company according to customer needs in the report. Final confirmation should be provided by the research team depending on the difficulty of the investigation.
The availability of data will be confirmed by research in the case of a private company. Up to 3 players can be added at no additional cost.
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