Pune, May 11, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, a global market research firm has published competitive intelligence and market research report on the “Luxury Car Rental Market”. The Luxury Car Rental Market size was valued at USD 54.50 Bn in 2022. The total Luxury Car Rental Market revenue is expected to grow at a CAGR of 6.2 percent from 2023 to 2029, reaching USD 83.04 Bn during the forecast period.
| Market Size in 2022 | USD 54.50 Bn |
| Market Size in 2029 | USD 83.04 Bn |
| CAGR | 6.2 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 265 |
| No. of Tables | 129 |
| No. of Charts and Figures | 111 |
| Segment Covered | By Rental Type, End-User, Booking Mode Type, Portability, Rental Length |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Luxury Car Rental Market Scope and Research Methodology
The objective of the report is to present a comprehensive analysis of the Luxury Car Rental Market. The Luxury Car Rental Market is segmented By Rental Type, End-User, Booking Mode Type, Portability, and Rental Length. The Luxury Car Rental Market report is a guide for investors that provides a comprehensive analysis of the competitive benchmarking of major market players in the market by revenue, financial status, portfolio, growth strategies, and geographical presence. Data for analysis of the Luxury Car Rental industry is collected by both primary and secondary research methods. The report is a detailed analysis of the Luxury Car Rental Market by country, regional and global presence. The Luxury Car Rental Market size was estimated through a bottom-up approach. The new entrants in the Luxury Car Rental Market were researched for growth prospects and future business outlooks. Restraints, drivers, challenges, and opportunities are provided in detail in the Luxury Car Rental Market report.
Luxury Car Rental Market Overview
Luxury car rental refers to the service of renting high-end, expensive, and premium vehicles that are not typically available to the average consumer. These cars can be rented for private usage, such as vacations or weekend trips, as well as special occasions like weddings, proms, or business gatherings. To give their customers a hassle-free experience, luxury automobile rental businesses often provide a number of services, such as vehicle delivery and pickup, insurance, and round-the-clock roadside support.
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The demand for renting luxury cars is expected to grow during the forecasting period
The demand for renting transportation service that responds and helps in addressing the needs of customers who desire luxury automobiles that are well equipped with various features, the demand for renting luxury cars is anticipated to increase in the upcoming years. Real-time feedback and a vehicle tracking system are both installed in these vehicles. The availability of numerous mobile applications makes it simple to book these automobiles online. The programs also assist in evaluating the costs of different luxury vehicles offered by various businesses.
North America is expected to hold a Significant Share of the Luxury Car Rental Market over the Forecast Period
The North American luxury car rental market is expected to grow at a CAGR of 9.2%. A major market for luxury automobile rental firms in North America, which has a sizable and diverse consumer base as well as a high demand for luxury and premium vehicles. With a sizable portion of the total market revenue coming from rentals of luxury vehicles, the United States is North America's largest market. Strong economic growth, a sizable population, and rising demand for luxury and premium vehicles are some of the drivers that propel the luxury car rental market.
Luxury Car Rental Market Segmentation
Based on Booking Mode Type, the online segment held the largest revenue share in 2022 and is expected to grow at a significant rate during the forecast period. Many luxury car rental companies have their own website where customers browse available vehicles, select the desired rental period, and make a reservation online.
Based on the End-User, the Self-driven segment is expected to grow at a rapid pace during the forecast period. This segment is popular among tourists who want to explore a new destination on their own terms and who prefer to have their mode of transportation for business meetings and events.
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By Rental Type:
- Business
- Leisure
By Booking Mode Type
• Online
• Offline
By End-User
• Self-driven
• Chauffeur-driven
By Rental Length
• Short Term
• Long Term
Luxury Car Rental Market Key Players include
• Avis Budget Group
• Sixt
• Enterprise Holdings
• Movida
• Hertz
• Localiza
• Europcar Mobility Group
• Car Inc.
• Goldcar
• Unidas
• eHi car Services
• National Car Rental
• Budget Rent a Car System Inc.
• Advantage Rent A Car
• Payless Car Rental
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Key questions answered in the Luxury Car Rental Market are:
- What is Medical Suction Devices?
- What was the Luxury Car Rental Market size in 2021?
- What is the expected Luxury Car Rental Market size by 2029?
- What is the growth rate of the Luxury Car Rental Market?
- Which are the factors expected to drive the Luxury Car Rental Market growth?
- Which factors are expected to restrain the Luxury Car Rental Market growth?
- Which segment dominated the Luxury Car Rental Market growth?
- What is the demand pattern for the Luxury Car Rental Market?
- Which region held the largest share in the Luxury Car Rental Market?
- Who are the key players in the Luxury Car Rental Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Product Type, End-User, Distribution Channel, Application, and Packaging
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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