A recent study published by MarkNtel Advisors on the Global Car Rental Market Share, Size, Trends, Growth, Report and Forecast 2023-28 brings together an in-depth understanding of all aspects influencing the industry's expansion both in the present and during the historical period 2018-21. This analysis comprises unbiased, accurate, reliable market intelligence, shedding light on key parameters like the market growth drivers, challenges, restraints, and opportunities, among others. The stakeholders can attain data on the key trends, recent developments, investments strategies, among other elements shaping the market dynamics.

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Car Rental Market Dynamics

“Car Rental Market Analysis, 2023” research report entails a detail-oriented analysis of aspects like the Covid-19 impact, segmentation analysis, country/regional landscape, recent developments, demand supply chain, and product/service pricing, among others, driving the market expansion across different segments geographies. This section aims solely to enlighten the stakeholders the leading players to plan lay out new strategies for expanding their visibility, product portfolio, customer base and generating significant revenues in the coming years.

Key Trend: Integration of Advanced Telematics to Car Rental Software to Create New Trends

Currently, car rental companies are increasingly integrating telematics to gain insights into fleet performance, driver behavior, and maintenance needs. For instance, in 2021, RentalMatics announced an integration with TSD Mobility Solutions’ car rental software system. The use of telematics is also helping rental companies to improve their customer's experience as it provides real-time information about estimated arrival time vehicle location.

Impact of Covid-19 on the Car Rental Market

The advent of Covid-19 in 2020 had a consequential effect on most industries worldwide that instigated our analysts to rigorously examine the ground reality of situations in the Car Rental Market by constantly interacting with the industry experts. The Covid-19 impact analysis section compiles all attributes of relevant events that happened during after the outbreak, alongside the strategies adopted by the industry players to overcome the damages sustain amidst the crisis.

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Car Rental Market Major Segments

The Car Rental Market bifurcates into the following segmentations:

-By Booking Mode

• Offline
• Online

-By Application

• Leisure
• Business

-By Vehicle Type

• Luxury
• Economy Cars
• Executive Cars
• Sports Utility Vehicles (SUVs)
• Multi Utility Vehicles (MUVs)

-By Rental Category

• Local
• Airport
• Outstation

-By Driver Type

• Self-Driving
• Chauffeur

-By Rental Duration

• Short Term
• Long Term

Car Rental Market Geographical Landscape

On the geographical front, the market expands across:

-By Region

• North America
• South America
• Europe
• The Middle East Africa
• Asia-Pacific

Competitive Analysis

The study on Car Rental Market brings together extensive research on the prominent companies participating in the industry by rigorously profiling their operations, product/service portfolio, mergers acquisitions, expansion plans, recent developments, key strategies, and opportunities to attain higher profit margins. The leading industry players, as profiled in the report, include the following:

• Avis Budget Group
• Sixt SE
• Enterprise Holdings (Alamo)
• Hertz Corp.
• Europcar
• Localiza
• Carzonrent India Pvt. Ltd. (CIPL)
• ZoomCar, Inc.
• Dollar Rent a Car
• Green Motion
• Buchbinder
• Others

ABOUT US:

MarkNtel Advisors is a leading research, consulting, data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, individuals, among others.

Our specialization in niche industries emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing forecasting, trend analysis, among others, for 15 diverse industrial verticals.

Using such information, our clients can identify attractive investment opportunities strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.

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