Car Rental Market Analysis
Car Rental Market is projected to be worth USD 200 billion by 2027, registering a CAGR of 9% during the forecast period (2021 - 2027), The market was valued at USD 200 billion in 2020.
Industry Updates
March 2021- Booking Group, an online car rental provider has chosen IBM Cloud to cater to the growing customer need. With IBM, the company can adopt flexible cloud strategies, assisting the car rental service to host workloads securely like financial reports and booking reservations and offer access to data which offers unique insights regarding the need for car rentals in local markets. Through these capabilities, the company can regain agile and adjust prices and availability quickly to cater to the needs of the customers as they shift alongside the outbreak.
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Key Players
The notable players profiled in the global car rental market share report include Eco Rent a Car (India), Avis Budget Group (US), Capps Truck & Van Rental (US), Europcar (France), Bandago Van Rental (US), Enterprise Holdings, Inc. (US), Al-Futtaim Vehicle Rentals Company LLC (Qatar), The Hertz Corporation (US), Localiza (Brazil), and Sixt SE (Germany), among others.
The global car rental market is highly competitive and fragmented with the presence of different well-established international and domestic players. These industry players have used a couple of strategies to stay ahead and also cater to the surging needs of the customers such as partnerships, joint ventures, collaborations, mergers and acquisitions, new product developments, and others. Besides, they are also investing in R&D activities.
As per the recent MRFR market estimates, such factors include the increasing purchasing power of consumers, booming economy, increase in consumer’s per capita disposable income, growing urbanization, increase in industrialization, rising population, favorable norms by the government, rising awareness of environmental protection through vehicles, ease of booking, availability of online platforms, user’s dependence on smartphones, improved road infrastructure, growing demand for car rentals after relaxations of lockdown during COVID-19 pandemic, and rise in tourism. Car rental, simply put, is a service offered through offline and online platforms which includes renting out automobiles. The companies generally offer service for a few months or a few hours.
On the flip side, constantly changing crude oil prices, intense competition in the market due to increasing number of players, and low rate of internet penetration in developing regions may impede the market growth over the forecast period.
Market Segmentation
By type, the market is bifurcated into outstation, local, airport, and others. Among these, the airport segment will dominate the market over the forecast period.
By mode of booking, the market is bifurcated into online & offline. Among these, the online segment will lead the market over the forecast period.
By application, the market is bifurcated into business & non-business.
By vehicle type, the market is bifurcated into MUV, sedan, luxuries, SUV, and others. Among these, the SUV segment will have the lions share in the market over the forecast period.
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Regional Analysis
By region, the global car rental market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America and the Rest of the World (RoW). Of these, North America will lead the market over the forecast period. Rise in non-business and business trips across different regions whether local or international, growing inclination towards rental services, and the presence of well-known service providers are adding to the global car rental market growth in the region.
The car rental market in Europe is predicted to hold the second-largest share over the forecast period. Stringent government policies and growth of tourism are adding to the car rental market growth in the region.
The car rental market in the APAC region is predicted to have favorable growth in the forecast period. Self-driving renting, the availability of economy and high-end luxury cars, enhanced road infrastructure, and considerable economic growth are adding to the region’s car rental market growth.
The car rental market trend in RoW is predicted to have sound growth over the forecast period.
Table of Content:
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1 PORTER’S FIVE FORCES ANALYSIS
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
The Global System for Mobile Communications Association (GSMA) estimated that there are 5 billion mobile phone users across the globe as of April 2019.
The global mobile application testing services market has been analyzed across key geographies, namely North America, Europe, Asia-Pacific, and the rest of the world.
In the mobile application testing market, the use of manual testing is declining due to the advent of automation testing, however, manual testing cannot be completely eliminated due to its accurate UI testing features which are not provided by automation testing.
Hence, the manual testing of applications is expected to show moderate growth for mobile application testing services.The automation segment was valued at USD 1561.95 Million in 2018; it is projected to exhibit a higher CAGR of 21.9%.
The automation testing in mobile application testing services market is expected to show significant growth due to the provision of scalability for larger mobile applications.By industry, the global mobile application testing services market has been segmented into BFSI, IT & telecom, retail, media, and others.
These mobile applications consist of client-side applications and company-side applications to connect the client and company.
Global Pectin Market was valued at US$ 1.06 Bn in 2020 and is expected to reach US$ 1.64 Bn by 2027, at a CAGR of 6.4% during a forecast period.The Pectin Market Size 2021-2027 provides detailed competitive analysis, including market share, size, future scope, and future outlook.
Companies are investing heavily in new electric mopeds and scooters to make them more efficient.Get a Sample PDF of the Report at : Request Free Sample ReportList Of TOP KEY PLAYERS in Pectin Market Report are - • DuPont Nutrition & Health• FMC Corporation• CP Kelco• Cargill• Herbstreith & Fox• Devson Impex Private Limited• Yantai Andre Pectin Co. Ltd.• B srl• Ingredion Incorporated• Tate & Lyle PLC• Koninklijke DSM N.V.• Naturex• Lucid Colloids Ltd• Silvateam S.p.A• Compañía Española de Algas Marinas S.A• Herbstreith & Fox Corporate GroupCOVID-19 Impact on Market:In December 2019, the COVID-19 epidemic began in Wuhan (China), and has been spreading rapidly around the world.
Due to travel bans and lockdowns, the COVID-19 epidemic has affected many countries' economies and industries.
This outbreak has caused major disruptions in the global food and drink industry, including supply chain breakdowns, cancellations of technology events, and office closures.
Segment by Application, The Pectin Market is divided into the United States, Europe, China, Japan, Southeast Asia, India and Rest of World.
This report includes all aspects of the industry and a study of key players, including market leaders, followers, as well as new entrants.
31 Oct 2018 – This report focuses on top manufacturers in Global Market.They are a type of elastomer that changes shape or size when stimulated by an electric field.
The electroactive polymers market is estimated to grow at a significant CAGR of 9.7% over the forecast period as the scope and its applications are rising enormously across the globe.
However, the impact of these polymers on the environment and strict government policy against use of these polymers are the factors that may restrain overall market growth in the years to come.
HDPE Pipes Market Research Report, by Type (PE 63, PE 80, and PE 100), Application (Oil & Gas, Irrigation, and Water & Wastewater), and Region — Global Forecast till 2023
Market Synopsis: Global HDPE Pipes Market
The unprecedented growth of the end-use industries has resulted in the substantial growth of the HDPE pipes market.
The flexibility and leak-free joints of these pipes provide the additional advantage of cost efficiency as they save considerable time and money in their installation process.
The global HDPE pipes market is expected to witness a CAGR of around 5%, and its value is expected to reach USD 22 billion during the forecast period.
Global HDPE Pipes Market: Regional Analysis
“Frozen Dessert Market Size, Share, Key Player and Industry Analysis by Type, Ingredients and Region”
Pune, India – March 26, 2019 —
The frozen desserts market has witnessed substantial evolution in the past few years.
Until a few years ago, the frozen desserts category was limited to ice creams with limited flavors.
The Global Frozen Desserts Market is likely to expand at a moderate pace over the forecast period of 2018-2023, asserts Market Research Future (MRFR) in an in-depth study.
Advancement in freezing technologies, innovative refrigerator displays and improved supply chain has contributed to the market growth.
