NJ New Jersey, USA -- (SBWIRE) -- 09/07/2023 -- Latest Study on Industrial Growth of Global Vehicle Rental Services Market 2022-2028. A detailed study accumulated to offer Latest insights about acute features of the Vehicle Rental Services Market. The report contains different market predictions related to revenue size, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary and SWOT analysis.
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Major Players in This Report Include:
Avis Budget Group Inc. (United States), Enterprise Holdings Inc.(United States), Hertz Global Holdings Inc (United States), Localiza (Brazil), SIXT (Germany), Uber Technologies, Inc. (United States), Budget Truck Rental (United States), Fast Rent a Car (UAE), Bettercar Rental (Dubai), Europcar Mobility Group (France)
Vehicle rental or vehicle hire agencies are agencies that rent automobiles for a short period of time at a certain cost. Rental services for SUVs and MUVs are anticipated to witness considerable growth in the next few years owing to an observed increase in people traveling for leisure and recreational purposes. Luxury car rental services have picked up pace in the emerging markets of China and India, whereas they have already attained maturity in developed countries such as the U.S. and U.K. Asia Pacific is anticipated to emerge as the fastest-growing regional market due to rising availability of high-end luxury as well as economy vehicles, particularly in developing nations, is providing a major boost to the car rental industry in the region.
The Indian car rental industry, Revenue in the Car Rentals segment amounts to USD 2,508m in 2020. Revenue is expected to show an annual growth rate of 11.8%, resulting in a market volume of USD 3,912m by 2024. In 2018, the European Government Spends New leasing volumes worth USD 473.162 billion on Assets, in which 52 % for Passenger Cars and 18% on Commercial Vehicles.
Market Trend:
Increasing sales of smartphones is another major factor propelling the market
Increasing Demand for Online Rental Services
Opportunities:
Increasing Adoption of Car Rental Management Software
High Adoption due to growing tourism industry across the globe
Market Drivers:
The Introduction of value-for-money Vehicle Rental Services is a trend that is gradually gaining momentum in the industry
The rise in the trend of on-demand transportation services
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The Vehicle Rental Services market study is being classified by Application (Local usage, Outstation, Others), Vehicle Type (Car (Luxury Car, Executive Car, Economical Car, Sports Utility Vehicle (SUV), Multi Utility Vehicle (MUV)), Van, Truck, Others), Booking (Offline Booking, Online Booking), Rental Type (Chauffeur Drive, Special Event, Self Driving, Business Retail), End User (Personal, Business)
In this research study, the prime factors that are impelling the growth of the Global Vehicle Rental Services market report have been studied thoroughly in a bid to estimate the overall value and the size of this market by the end of the forecast period. The impact of the driving forces, limitations, challenges, and opportunities has been examined extensively. The key trends that manage the interest of the customers have also been interpreted accurately for the benefit of the readers.
The report concludes with in-depth details on the business operations and financial structure of leading vendors in the Global Vehicle Rental Services market report, Overview of Key trends in the past and present are in reports that are reported to be beneficial for companies looking for venture businesses in this market. Information about the various marketing channels and well-known distributors in this market was also provided here. This study serves as a rich guide for established players and new players in this market.
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Extracts from Table of Contents
Vehicle Rental Services Market Research Report
Chapter 1 Vehicle Rental Services Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Revenue (Value, Volume*) by Region
Chapter 5 Global Supplies (Production), Consumption, Export, Import by Regions
Chapter 6 Global Revenue (Value, Volume*), Price* Trend by Type
Chapter 7 Global Market Analysis by Application
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This report also analyzes the regulatory framework of the Global Markets Vehicle Rental Services Market Report to inform stakeholders about the various norms, regulations, this can have an impact. It also collects in-depth information from the detailed primary and secondary research techniques analyzed using the most efficient analysis tools. Based on the statistics gained from this systematic study, market research provides estimates for market participants and readers.
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