According to a new market report published by Lucintel, the future of the global airport car rental market looks promising with opportunities in business and leisure travelers. The global airport car rental market is expected to reach an estimated $49.1 billion by 2023, and it is forecast to grow at a CAGR of 6.7% from 2018 to 2023. The major drivers for this market are increasing air travel, high volume of domestic and international tourism, and a rising level of disposable income.
Browse 97 market data tables and 127 figures spread through 200 pages and in-depth TOC on “Global Airport Car Rental Market”
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In this market, different types of airport car rental such as economy car, compact car, luxury car, SUV’s, and others are used as vehicle. On the basis of its comprehensive research, Lucintel forecasts that the economy car will remain the largest vehicle type used for car rental over the forecast period due to its low cost rental and easy availability.
Within the global airport car rental industry, the leisure traveler is expected to remain the largest segment and it is also expected to witness the highest growth over the forecast period due to the rise in air travel and increasing domestic tourism.
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North America is expected to remain the largest region mainly due to an increase in the volume of inbound and outbound tourists, and rising awareness for car sharing. Asia Pacific is expected to witness the highest growth over the forecast period due to the increasing air passenger traffic, rising disposable income, and construction of new airports.
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Emerging trends, which have a direct impact on the dynamics of the airport car rental industry, include increasing adaptation of electric vehicle and integration of IoT to provide value added services, such as booking, passenger safety, and assistance. Enterprise Rent A Car, Hertz Global Holdings, Avis Budget, Europcar, Uber, Sixt, Localiza Rent a Car, Ichinen Holdings, Redcap Tour, Empresas Tattersall, and Warisan are among the major airport car rental manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global airport car rental market by traveler type, vehicle type, booking type, transmission type, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Airport Car Rental Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global airport car rental market by traveler type, vehicle type, booking type, transmission type, and region as follows:
By Traveler Type ($ Billion from 2012 to 2023):
- Business
- Leisure
- Others
By Vehicle Type ($ Billion from 2012 to 2023):
- Economy car
- Luxury car
- Compact car
- SUV’s
- Others
By Booking Type ($ Billion from 2012 to 2023):
- On-Line
- Off-Line
By Transmission Type ($ Billion from 2012 to 2023):
- Manual
- Automatic
By Region [$M shipment analysis for 2012 – 2023]:
- North America
– United States
– Canada
– Mexico
- Europe
– Germany
– France
– UK
– Spain
– Italy
- Asia Pacific
– China
– India
– Japan
– Hong Kong
– Indonesia
- The Rest of the World
– Brazil
– Argentina
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This 200-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/airport-car-rental-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global airport car rental market by traveler (business, leisure and other), by vehicle (economy car, compact car, luxury car, SUV’s, and others), by booking (on-line and off-line), by transmission (manual and automatic), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?
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