The report studies the global car rental market with a special focus on the US market to provide a comprehensive overview. In terms of geography, North America was leading the global car rental market with a valuation of US$14.66 billion in 2013
If the study conducted by the Transparency Market Research is any indication, the global car rental market had the value at US$37 billion in 2013, which is expected to boom to reach US$80 billion by 2019.
The research- Car Rental Market – Global and US Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019 – highlights the fact that the market will grow at a CAGR of 13.6 per cent from 2014 – 2019 span.
The highlights of the global car rental market are;
- Increasing volume of tourists-overseas and domestic
- Travel category
- Better roads and infrastructure
- Growing disposable income
- Increasing GDP levels
However, the challenges faced by the car rental market are;
- The fluctuating petroleum process
- High gasoline prices
- Cheaper substitute of public transport.
The global car rental market is segmented on the basis of type of car, category, and geography.
Though this region will grow modestly, it will still exert its dominance in the global market share of car rental market till 2019.
The players leading the North American car rental market are Enterprise, Hertz, and Avis Budget Group. Asia Pacific and Europe will follow this growth to be the second big market share holders.
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