Car Rental and Leasing Market Demand and Competitive Analysis by Key Players | Localiza-Rent a Car, Eco Rent a Car, The Hertz

Published September 22, 2023

The Car Rental and Leasing Market is a global industry that provides vehicles to customers for short-term rentals or long-term leases. Short-term rentals typically range from a few hours to a few weeks, while leases typically last for two to four years. Over the projected period (2023-2030), the car rental and leasing market is projected to grow at a CAGR of 7.6% to reach USD 1,139.21 billion.

Market Growth:
Increasing urbanization, the rise of the middle class in developing nations, and the expansion of the tourist sector are just a few of the causes driving the anticipated large growth of the car rental and leasing market over the next several years. Also anticipated is the promotion of these services by the government through programs like tax cuts and subsidies. Given that many individuals are still hesitant to own their own cars, the popularity of electric vehicles (EVs) is predicted to increase demand. Peer-to-peer vehicle sharing and subscription-based car leasing are two new automobile rental and leasing models that have emerged as a result of the sharing economy. In addition, it is anticipated that increased use of data and technology would enhance operations and services such telematics tracking vehicle location and usage, lowering costs, and enhancing customer service.

The Top Players in Car Rental and Leasing market:
Localiza-Rent a Car, Eco Rent a Car, The Hertz, Europcar, Al Futtaim, GlobalCARS, Sixt, Avis Budget, Carzonrent & Others.

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Car Rental and Leasing
by Segmentation:

By Type:
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Reasons to Purchase This Report:
The updated research, available as an extract, also includes the option to acquire premium features that cover extensive historical, present, and future data. The report combines extensive quantitative analysis and exhaustive qualitative analysis, ranges from a macro overview of the total market size, industry chain, and market dynamics to micro details of segment markets by type, application and, region, and, as a result, provides a holistic view of, as well as a deep insight into the Emergency Medical Service (EMS) Software market covering all its essential aspects.

Geographically analysis:
The global car rental and leasing market is divided into four regions: North America, Europe, Asia Pacific, and Latin America. North America is the largest market, with a market share of 37.4% in 2022. Europe is the second largest, with a market share of 31.8%. Asia Pacific is the third largest, with a market share of 20.9%, driven by urbanization, rising disposable incomes, and a growing middle-class population. Latin America is the smallest, with a market share of 9.9%. Key trends driving market growth include increasing demand from corporate and leisure travellers, high business travellers, urbanization, rising disposable incomes, and a growing middle-class population. The future growth of the market is expected to be driven by these factors, as well as the increasing demand for electric vehicles and shared mobility services.

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Car Rental and Leasing Market  Future Benefits & Future Trends:

Future Benefits:
The future of the Car Rental and Leasing Market is bright, driven by changing mobility trends. Benefits will include greater flexibility in transportation choices, reduced individual vehicle ownership, and decreased congestion and environmental impact. Car rental and leasing services will adapt to evolving consumer preferences, offering sustainable and convenient options for urban and suburban dwellers.

Future Trends:
The Car Rental and Leasing Market is undergoing a transformation as the automotive industry shifts towards mobility-as-a-service models. Car rental and leasing companies will increasingly offer electric and autonomous vehicles, providing customers with more sustainable and convenient transportation options. The industry will also leverage data analytics to optimize fleet management and customer experiences.

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Research methodologies:
Car rental and leasing market research employs diverse methods. Primary approaches encompass surveys, interviews, focus groups, industry and government reports, plus academic journals. Surveys collect input from stakeholders, while interviews delve into deeper insights. Secondary sources involve industry and government reports, plus academic journals. Analysis can be quantitative or qualitative, unveiling trends and patterns. Method selection hinges on study goals, like grasping customer needs or predicting market growth. For instance, surveys and interviews aid in grasping preferences, while focus groups offer qualitative insights.

Following Chapter Covered in the Car Rental and Leasing Market Research:
Chapter 1-
Provides an overview of Car Rental and Leasing market, containing global revenue and CAGR. The forecast and analysis of market by type, application, and region are also presented in this chapter.
Chapter 2- Describes the market environment and major players. It provides basic information of these players along with competitive situation and market concentration status.
Chapter 3- Introduces the industrial chain of Car Rental and Leasing. In this chapter, industrial chain analysis, raw materials (suppliers, price, supply and demand, market concentration rate), and downstream buyers are analysed.
Chapter 4- Concentrates on manufacturing analysis, including cost structure analysis and process analysis, constituting a comprehensive analysis of manufacturing cost.
Chapter 5- Provides clear insights on market dynamics, impact of COVID-19 on industries, and analysis of consumer behaviour.
Chapter 6- Provides a full-scale analysis of major players in Car Rental and Leasing industry. Basic information is provided as well as profile, applications, and specifications of product market performance along with business overview.
Chapter 7- Pays attention to the sales, revenue, price, and gross margin of Car Rental and Leasing in different geographical markets. This part covers the analysis of sales, revenue, price, and gross margin in the global market.
Chapter 8- Gives a worldwide view of the market. It includes sales, revenue, price, market share, and growth rate by type.
Chapter 9- Focuses on the application of Car Rental and Leasing, by analysing the consumption and growth rate of each application.
Chapter 10- Forecasts the entire Car Rental and Leasing market, including global sales and revenue forecasts, as well as regional forecasts. It also foresees the Car Rental and Leasing market by type and application.

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1.Who are the key players in this Market?

2.At what CAGR is the market projected to grow during the forecast period?

3.What are the key contributing factors to the market growth?

4.What are the key players operating in the Middle East & Africa?

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