This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.Happy trails: More inbound trips by foreign visitors will boost industry demand at airports
Car rental services fluctuated throughout the period. Stay-at-home orders during the pandemic prevented traveling, which decimated the market for car rentals. As mass vaccinations spread, the restrictions began to lift, leading to an influx of traveling for leisure and business purposes. Revenue grew at a CAGR of 7.5% to $75.5 billion over the past five years, including a 5.9% increase in 2023 alone. Average profit has also increased from the lows suffered in 2020.
Operators rent or lease passenger cars to customers. Car rentals typically last a short time (30 days or fewer) while leasing agreements last longer (12 months or more). This industry excludes the rental or leasing of cars with drivers or trucks.
Table of Contents
ABOUT THIS INDUSTRY- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
- Supply Chain
- Products & Services
- Demand Determinants
- Major Markets
- International Trade
- Business Locations
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Basis of Competition
- Barriers to Entry
- Industry Globalization
OPERATING CONDITIONS
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
- Industry Data
- Annual Change
- Key Ratios
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Enterprise Holdings Inc.
- Avis Budget Group, Inc.
- Hertz Global Holdings, inc.
Methodology
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