“Car Rental Services Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017–2027).”

Valley Cottage, NY -- (SBWire) -- 10/23/2017 --On the basis of end use, global Car Rental Services is segmented into Intercity, Intracity, On-Airport, and others. On Airport segment has highest growth rate of 7.3% CAGR followed by intercity with a CAGR of 5.3% in the forecast period. Air travel has skyrocketed mainly because of the plummeting prices of airline tickets, leading to a substantial increase in air travelers across the globe. The increasing air trips for business and leisure purpose is fuelling the growth of car rentals to airports.

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The North America market has been estimated to dominate the Global car rental market, accounting for maximum revenue share of 45.9% by 2027 end. In terms of value, North America and Western Europe collectively accounted for more than 57% share in the global market in 2027. Although APEJ has a relatively lower market share of 17.5%, all the stars are in its favor making it likely to witness high growth rate in the medium term. Latin America, Japan and Middle East are also anticipated to show substantial amount of growth over the forecast period.

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Some of the key players in the global car rental market include Enterprise Holdings Inc., The Hertz Corporation, Avis Budget Group Inc., Europcar S.A., Carzonrent India Pvt Ltd., Sixt Rent a Car, Al-Futtaim, Localiza Rent a Car S / A, Eco Rent a Car, and GlobalCARS.

Future Market Insights (FMI) presents a revised forecast of the global car rental market for the period 2017-2027 in its published report titled "Car Rental Services Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017–2027)." In terms of revenue, the global car rental market is estimated to expand at a CAGR of 6.6% over the forecast period, owing to numerous factors, about which FMI offers thorough insights and forecasts in this informative report. The market is segmented on the basis of end use, customer type, sector, booking type and car type.

By customer type, the global car rental market is segmented into business and leisure customers. The leisure segment is expected to dominate over the forecast period due to expansion of global tourism market, increasing disposable income, and improved infrastructure for rental service. The leisure segment is anticipated to record a high CAGR growth rate of 7.8% over the forecast period with the total market valued at US$ 51,734.7 in 2017. On the other hand, the business segment has low growth rate of 4.3% CAGR with market valued at US$ 52,365.3 in 2017.

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