The most recent version of MarkNtel Advisors' research report on the Global Car Rental market includes an examination of numerous aspects that contribute to the market's growth, analysis, size, share, outlook and expected to grow at CAGR of 7% by 2028.  It includes trends, limitations, and market drivers that have an impact on the market, either positively or negatively. The report provides scope for strategic planning and presents a complete assessment of constraints, restraints, and possibilities. The industry growth factors are crucial since they may be comprehended to create various tactics for seizing the lucrative prospects present in the constantly expanding industry. In order to better understand the market and make useful recommendations, the views of market experts have also been considered.

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How large is the Global Car Rental market?

Growth Rate: 7% CAGR

Year of Estimation Base: 2022

Historical Information: 2018-2021

Projection Period:2023-2028

Driving Factors for the Global Car Rental Market and an Analysis of Future Demand:

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.

Note - You will find a thorough market analysis, growth analysis graphs, historical and forecast period analyses, key market segmentation, the top key players in the market, a table of contents, a list of figures, and a list of tables in this research reports.

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Discovering Potential: Unraveling Segments and Regional and Country projections in the Global Car Rental Market

The Global Car Rental Market can be divided into different Segments, along with different regions/country. The growth of each segment provides a precise estimation and sales forecast for the period from 2023 to 2028. This analysis is valuable for stakeholders aiming to expand their businesses by focusing on specific and qualified niche markets. The report includes market data at regional levels. Our team of research analysts comprehends the competitive advantages of each competitor and offers a separate competitive analysis for each.

What Exactly Does Global Car Rental Market Segmentation Include?

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

Geographical Analysis Trends, Future and Forecast (2023-2028) Of Global Car Rental Market

By Region

-North America

-South America

-Europe

-The Middle East & Africa

-Asia-Pacific

Who Are the Leading Key Players in the Global Car Rental Market

The report has also examined the competitive landscape of the market, highlighting key players -

-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

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Important advantages for stakeholders

• In order to identify the potential in the present market, this study aims to provide a thorough analysis of the current market trends and future projections from 20023 to 2028.
• A thorough analysis of numerous locations that yields information that can help organisations plan their commercial actions tactically.
• A thorough study and projections of different regions to give stakeholders a thorough understanding of the present trends so they may create region-specific plans.
• Important regulatory processes for the market under study are carefully considered based on the region.
• A thorough study of the elements supporting and impeding the expansion of the Global Car Rental market is given.

Do not miss out the business opportunity of Global Car Rental Market. Consult our analysts to gather imperative insights, and facilitate your business growth.

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