Global Car Rental Business Strategic Business Report 2023: Technology Innovations to Spearhead Growth in Post Covid Environment

Dublin, March 15, 2023 (GLOBE NEWSWIRE) -- The "Car Rental Business: Global Strategic Business Report" report has been added to's offering.

The global market for Car Rental Business estimated at US$66.6 Billion in the year 2022, is projected to reach a revised size of US$102.8 Billion by 2030, growing at a CAGR of 5.6% over the analysis period 2022-2030.

Airport, one of the segments analyzed in the report, is projected to record 4.6% CAGR and reach US$39.3 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Non-Airport segment is readjusted to a revised 6.2% CAGR for the next 8-year period.

The U.S. Market is Estimated at $25.3 Billion, While China is Forecast to Grow at 10.3% CAGR

The Car Rental Business market in the U.S. is estimated at US$25.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$15.8 Billion by the year 2030 trailing a CAGR of 10.3% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 4.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR.

Select Competitors (Total 131 Featured) -

  • Avis Budget Group, Inc.
  • Enterprise Holdings, Inc.
  • Europcar Mobility Group
  • Rent-A-Wreck of America, Inc.
  • Sixt AG
  • The Hertz Corporation

What`s New for 2023?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Key Attributes:

Report AttributeDetails
No. of Pages454
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$66.6 Billion
Forecasted Market Value (USD) by 2030$102.8 Billion
Compound Annual Growth Rate5.6%
Regions CoveredGlobal

Key Topics Covered:




  • Influencer Market Insights
  • World Market Trajectories
  • As Covid-19 Pandemic Decimates the Demand, Car Rental Business Market Set to Incur Huge Losses in 2020
  • Monthly Change in International Tourist Arrivals for January, February, & March 2020
  • Global Travel &Tourism Industry Revenues (In US$ Billion) for the Years 2019 & 2020
  • Global Flight Departures in First Week of April 2020 & 2019
  • Battered Global Travel & Tourism Industry Steals All Hope From Car Rental Businesses
  • An Introduction to Car Rental Business
  • Evolution of Rent-A-Car Concept Over the Years
  • Fleet Ownership Patterns: A Review
  • Classification of Car Rental Business by Location & Sector
  • Car Rental Business by Location
  • Car Rental Business by Sector
  • Car Rental Business: Current Market Scenario and Outlook
  • Developed Regions: Primary Revenue Contributors
  • World Car Rental Business Market by Region (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
  • High Growth Opportunities in Developing Regions
  • World Car Rental Business Market - Geographic Regions Ranked by % CAGR (Revenues) for 2020-2027: China, Asia-Pacific, Middle East, Latin America, Africa, Canada, USA, Japan, and Europe
  • COVID-19 Pandemic Set to Dent Economic Growth Across All Regions, While Inducing Weakness Into Car Rental Business Sector
  • World Economic Growth Projections (Real GDP, annual % Change) for 2019, 2020 & 2021
  • Car Rental Market: A Diverse Playfield
  • Leading Car Rental Firms across Regional Markets
  • Emphasis on Innovative Strategies
  • Personalized Offers and Specialized Services
  • Subscription Packages: The New Marketing Approach
  • Price Matching Systems for Assuring Customers
  • End-to-End Customer Support Remains Major Focus Area
  • Mergers & Acquisitions (M&A) Gather Steam
  • Recent Market Activity
  • Car Rental Companies Lean Towards Shared Mobility Service
  • Car Rental Business - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)



  • Technology Innovations to Spearhead Growth in Post Covid Environment
  • Automation Steps-In to Augment Car Rental Business Performance
  • IoT Holds Positive Ramifications for Car Rental Automation
  • AI Identified as the New Transformative Vehicle
  • Convenient Bookings and Innovative Payment Options
  • Online Booking Takes Car Rentals to Higher Grounds
  • Smartphones & Mobile Apps Widen Scope & Span of Car Rental Business
  • Smartphone Penetration (as a Proportion of Total Mobile Users) by Region for the Years 2018 and 2025
  • Increasing Implementation of GPS & Telematics
  • Cloud-Based Car Rental Software: The Latest 'Tech' Innovation
  • Medical Tourism, Overseas Education, and Large Sporting Events: Among Prominent Demand Drivers
  • Breakdown of International Student Enrolments (in %) by Country for the Year 2018
  • Key Medical Tourism Destinations by Region
  • Select Most Attended Sporting Events in the World
  • Young Travelers to Provide Traction to Car Rental Business
  • Apprehensions Remain High on Revival of Luxury Car Rental Market
  • Issues & Challenges
  • Rise of Car Sharing Throws Up Biggest Challenge to Traditional Rent-A-Car Market
  • Peer-to-Peer Ridehailing Drives Momentum in Car Sharing Volumes
  • Car Sharing Attracts New Groups of Enterprises
  • Car Manufacturers
  • Power Companies
  • Micromobility: Another Fast Emerging 'Muscular' Competitor
  • Apprehensions Over Hidden and Additional Costs Among Cost Wary and Cost Conscious Consumers
  • A Note on Additional Charges Levied In Addition to Base Rental Charges
  • Growing Role of Video Conferencing and Digital Technologies in Business Communication


  • es for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 19: World Car Rental Business Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030



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Global Market for Car Rental Business

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