A recent research study by MarkNtel Advisors, a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals, cited that the Global Car Rental Market is projected to grow at a CAGR of around 7% during the forecast period, i.e., 2023-28 The report methodically analyses several aspects that have influenced the market dynamics in the past few years.
Apart from this, the probable factors, based on primary & secondary research, which shall shape the Global Car Rental Market landscape in the future have also been included in the study to make stakeholders well-versed with the industry and help them stay ahead of their competitors. Moreover, to ensure that the analysis is accurate & precise, our analysts deeply examine the recent market patterns as well as historical milestones to project lucrative prospects while facilitating exponential growth for businesses.
Request for a Free Sample Copy of this Report: https://www.marknteladvisors.com/query/request-sample/car-rental-market.html
Global Car Rental Market Possible Restraint: High Deposit Cost Associated with Car Rental to Hamper the Growth –
Car rental companies often take a huge amount of deposit from the customers, which discourages some customers from renting cars. All rental car companies have different deposit charges. However, on average, in the US, around USD200 to USD500 is charged as a deposit fee by car rental companies. For instance, as of 2022, Hertz charges a minimum deposit fee of about USD200 for credit cards & USD500 if using a debit card, and similarly, Fox requires a deposit of between USD150 to USD400 when renting a vehicle with them.
Along with this, there have been many instances where customers lost deposit money due to factors like failure to return the car on time, additional charges, failure to pick up a car on time, etc. For instance, in 2023, in the US, a 54 years old individual lost his rental car reservation & around USD249 advanced fee to hold the vehicle due to delayed flight arrival at Orlando Airport. Hence, these factors are boosting the popularity of ride-hailing services as an alternative to traditional car renting services, therefore negatively affecting the market growth.
Key Offerings from the Global Car Rental Market Research Report:
- Estimated CAGR of the Global Car Rental Marketduring 2023-28.
- Detailed insights into factors expected to drive and challenge the growth of the Global Car Rental Marketin the coming years
- Precise estimation of the size of the Global Car Rental Market
- Accurate predictions about upcoming trends in the Global Car Rental Marketand changes in consumer behavior
- Growth of the Global Car Rental Marketacross different
- An in-depth analysis of the Global Car Rental Market’s competitive dynamics and detailed information about key vendors
Dig Deeper into the Data: Access the Full Report with Detailed Analysis! - https://www.marknteladvisors.com/research-library/car-rental-market.html
Competitive Benchmarking in the Global Car Rental Market
The prominent players profiled in the Global Car Rental Market are
-Avis Budget Group
-Sixt SE
-Enterprise Holdings (Alamo)
-Hertz Corp.
-Europcar
-Localiza
-Carzonrent India Pvt. Ltd. (CIPL)
-ZoomCar, Inc.
-Dollar Rent a Car
-Green Motion
-Buchbinder
-Others
Each company operating in this industry is vetted based on their products’ values, abilities, and other significant characteristics. The study also covers numerous mergers & acquisitions, along with the recent products launched by these players, to familiarize the stakeholders with the most recent market trends.
How has the Global Car Rental Market been segmented?
The report comprehensively analyses each high-performing segment, elucidating the factors contributing to their success and larger market share. It examines their significant impact on the Global Car Rental Market regarding sales, expansion, job opportunities, and other crucial factors. Categorizing the components as follows:
By Booking Mode
-Offline
-Online
By Application
-Leisure
-Business
By Vehicle Type
-Luxury
-Economy Cars
-Executive Cars
-Sports Utility Vehicles (SUVs)
-Multi Utility Vehicles (MUVs)
By Rental Category
-Local
-Airport
-Outstation
By Driver Type
-Self-Driving
-Chauffeur
By Rental Duration
-Short Term
-Long Term
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
Ask Analyst for Customized Report: https://www.marknteladvisors.com/query/request-customization/car-rental-market.html
Key Questions Answered in Global Car Rental Market Report:
- What are the growth projections for the Global Car Rental Market during 2023-28?
- What are the different patterns, obstacles, & trends will affect the growth and scope of the Global Car Rental Market?
- What are the critical opportunities for each segment & sub-segment enlisted in the Global Car Rental Market research report?
- What are the primary growth tactics used by the leading participants operating in the Global Car Rental Market?
Note: We also offer customized research services & reports tailored to meet our client's specific requirements, including market sizing, demand & supply assessment, company profiling, competitive assessment, & trend analysis, among others, to help them succeed in today's fast-paced markets.
Contact Us –
Call: �� +1 628 895 8081 +91 120 4278433
Email: �� sales@marknteladvisors.com
Visit to know more: �� https://www.marknteladvisors.com/
�� Read Our Latest Press Release - https://www.marknteladvisors.com/press-release
0 Comments