The Europe Car Rental Market is expected to witness market growth of 3.9% CAGR during the forecast period (2021-2027).
The Car Rental Industry is rapidly expanding as an important vertical in the transportation business, benefiting not only customers and rental firms but also automobile manufacturers. Automobile manufacturers have devised lucrative schemes, such as car leasing, that allow small businesses to expand their fleet size without spending a lot of money.
Some of the growth factors for the overall Car Rental Market are economic growth, an increase in the use of luxury cars by corporations on business trips, and booming tourism industry. People are willing to spend more money in order to spend more time with their families.
Governments in nations such as the United Kingdom, France, Norway, and New Zealand are taking steps to minimize carbon emissions by promoting the use of electric vehicles. These measures are driving businesses to focus more on sustainable operations, lowering the overall cost of every trip. Because of the influx of international tourists, the United Kingdom is expected to witness massive demand for car rental services.
In addition, features such as the ease with which rental vehicles may be booked online, the rising internationalization of business operations, expansion in the travel and tourist industry, air travel, and a movement in preference for comfort travel are anticipated to positively affect the growth of the regional Car Rental Market during the forecasting period.
The Germany market dominated the Europe Car Rental Market by Country 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $7.20 billion by 2027. The UK market is exhibiting a CAGR of 3.1% during (2021 - 2027). Additionally, The France market is expected to witness a CAGR of 4.6% during (2021 - 2027).
Based on Application, the market is segmented into Airport Transport, Outstation, Local usage and others. Based on Vehicle Type, the market is segmented into Economy cars, Executive cars, Luxury cars, SUVs and MUVs. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Avis Budget Group, Inc., Europcar Mobility Group, Enterprise Holdings, Inc., Hertz Global Holdings, Inc., Localiza, SIXT SE, Eco Rent a Car, ANI Technologies Pvt. Ltd. (Ola Cabs), and AVR Qatar, Inc.
The Car Rental Industry is rapidly expanding as an important vertical in the transportation business, benefiting not only customers and rental firms but also automobile manufacturers. Automobile manufacturers have devised lucrative schemes, such as car leasing, that allow small businesses to expand their fleet size without spending a lot of money.
Some of the growth factors for the overall Car Rental Market are economic growth, an increase in the use of luxury cars by corporations on business trips, and booming tourism industry. People are willing to spend more money in order to spend more time with their families.
Governments in nations such as the United Kingdom, France, Norway, and New Zealand are taking steps to minimize carbon emissions by promoting the use of electric vehicles. These measures are driving businesses to focus more on sustainable operations, lowering the overall cost of every trip. Because of the influx of international tourists, the United Kingdom is expected to witness massive demand for car rental services.
In addition, features such as the ease with which rental vehicles may be booked online, the rising internationalization of business operations, expansion in the travel and tourist industry, air travel, and a movement in preference for comfort travel are anticipated to positively affect the growth of the regional Car Rental Market during the forecasting period.
The Germany market dominated the Europe Car Rental Market by Country 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $7.20 billion by 2027. The UK market is exhibiting a CAGR of 3.1% during (2021 - 2027). Additionally, The France market is expected to witness a CAGR of 4.6% during (2021 - 2027).
Based on Application, the market is segmented into Airport Transport, Outstation, Local usage and others. Based on Vehicle Type, the market is segmented into Economy cars, Executive cars, Luxury cars, SUVs and MUVs. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Avis Budget Group, Inc., Europcar Mobility Group, Enterprise Holdings, Inc., Hertz Global Holdings, Inc., Localiza, SIXT SE, Eco Rent a Car, ANI Technologies Pvt. Ltd. (Ola Cabs), and AVR Qatar, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Application
- Airport Transport
- Outstation
- Local usage
- Others
By Vehicle Type
- Economy cars
- Executive cars
- Luxury cars
- SUVs
- MUVs
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Avis Budget Group, Inc.
- Europcar Mobility Group
- Enterprise Holdings, Inc.
- Hertz Global Holdings, Inc.
- Localiza
- SIXT SE
- Eco Rent a Car
- ANI Technologies Pvt. Ltd. (Ola Cabs)
- AVR Qatar, Inc.
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. Europe Car Rental Market by Application
Chapter 5. Europe Car Rental Market by Vehicle Type
Chapter 6. Europe Car Rental Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- Avis Budget Group, Inc.
- Europcar Mobility Group
- Enterprise Holdings, Inc.
- Hertz Global Holdings, Inc.
- Localiza
- SIXT SE
- Eco Rent a Car
- ANI Technologies Pvt. Ltd. (Ola Cabs)
- AVR Qatar, Inc.
Methodology
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