United States Vehicle Rental Market

United States Vehicle Rental Market by Applications (Leisure/Tourism and Business), Vehicle (Luxury/Premium Cars and Economy/Budget Cars), Booking (Online Access and Offline Access), Country (United States) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-3669
  • Author: Growth Market Reports
  • Rating: 4.4
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  • No. Of Pages: 177
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The United States vehicle rental market size is anticipated to register a significant CAGR during the forecast period, 2021-2028. The growth of market is attributed to rising concerns towards low emission, increasing number of electric vehicle users, and rising awareness regarding environment conservation and safety.

Vehicle Rental Market

In the last few decades escalation in the rental vehicle industry is been observed all owing to the seamless and user friendly  services offering by the companies with increasing users of smart phones allows them to have easy access for the booking applications and companies to offer them cars based on the duration regardless short-term or long-term.

Most of these services are made available for the tourist places and some Tier 1 & 2 cities, some of the factors responsible to boost the market includes inflated car prices, increasing pollution, and cost effective.

The Covid-19 pandemic affected the United States vehicle rental market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

Furthermore, to ensure the safety and avoid the spread of the virus, the car rental vendors are following all the safety norm and hygiene such as disinfecting their vehicles inside out after every ride.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing environment friendly commuting habits is expected to drive the market during forecast period.
  • Increased use of electric vehicles is estimated to boost the market during the projected period.
  • Awareness regarding low emission is expected to ascend the market growth in the coming years.
  • Increasing use of car pooling and car rental reduces the number of cars on roads which is estimated to propel the market in the coming years.
  • Rising internet penetration and smart phone users is anticipated to fuel the market.
  • High operational cost is one of the factors hindering the market growth.
  • Rising crude oil prices posses one of the challenge that can hamper the market growth in the coming years.

Scope of the market

The report on the United States vehicle rental market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Vehicle rental market – United States Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Applications (Leisure/Tourism and Business), Vehicle (Luxury/Premium Cars and Economy/Budget Cars), Booking (Online Access and Offline Access)

Country

United States

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

The Hertz Corporation; Avis Budget Group Inc.; Advantage Rent-a-car; Alamo; Enterprise Holdings Inc.

Market Segment Insights

The tourism segment is expected to exhibit high CAGR

Based on the applications, the market is segregated into leisure/tourism and business. The tourism segment is expected to exhibit high CAGR in the coming years owing to increasing number of passenger commuters and New York being an expensive location to rent a car in the region leads to selection of rental car option which provides wide variety of services to the passengers.

Vehicle Rental Market

The economy/budget car segment is estimated to hold a major share of the market

On the basis of vehicles, the market is categorized into luxury/premium cars and economy/budget cars. The economy/budget car segment is estimated to hold a major share of the market during the forecast period owing to features of economy cars such as compact, fuel efficient, comfort, which is mostly preferred by the users. As compared to luxury car, economy car involves low maintenance and procurement cost.

The online access segment is anticipated to account key share of the market

Based on the booking, the market is bifurcated into online access and offline access. The online access segment is anticipated to account key share of the market during the projected period owing to save time and convenient for both vendor and user, allows you to book from far off places without making your physical appearance, and documentation requires less paperwork it can be submitted in digital image format.

Vehicle Rental Market

Segments

Segments Covered in the Report

United States vehicle rental market has been segmented on the basis of

Application

  • Leisure/Tourism
  • Business

Vehicles

  • Luxury/Premium Cars
  • Economy/Budget Cars

Bookings

  • Online Access
  • Offline Access

Country

  • United States

Key Players

  • The Hertz Corporation
  • Avis Budget Group Inc.
  • Advantage Rent-a-car
  • Alamo
  • Enterprise Holdings Inc.

Competitive Landscape

Key players competing in the United States vehicle rental market include The Hertz Corporation; Avis Budget Group Inc.; Advantage Rent-a-car; Alamo; Enterprise Holdings Inc.

Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.

Vehicle Rental Market

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Vehicle Rental Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Vehicle Rental Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Vehicle Rental Market - Supply Chain
  4.5. Global Vehicle Rental Market Forecast
     4.5.1. Vehicle Rental Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Vehicle Rental Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Vehicle Rental Market Absolute $ Opportunity
5. Global Vehicle Rental Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Vehicle Rental Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Vehicle Rental Demand Share Forecast, 2019-2026
6. North America Vehicle Rental Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Vehicle Rental Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Vehicle Rental Demand Share Forecast, 2019-2026
7. Latin America Vehicle Rental Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Vehicle Rental Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Vehicle Rental Demand Share Forecast, 2019-2026
8. Europe Vehicle Rental Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Vehicle Rental Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Vehicle Rental Demand Share Forecast, 2019-2026
9. Asia Pacific Vehicle Rental Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Vehicle Rental Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Vehicle Rental Demand Share Forecast, 2019-2026
10. Middle East & Africa Vehicle Rental Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Vehicle Rental Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Vehicle Rental Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Vehicle Rental Market: Market Share Analysis
  11.2. Vehicle Rental Distributors and Customers
  11.3. Vehicle Rental Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)

Segments Covered in the Report

United States vehicle rental market has been segmented on the basis of

Application

  • Leisure/Tourism
  • Business

Vehicles

  • Luxury/Premium Cars
  • Economy/Budget Cars

Bookings

  • Online Access
  • Offline Access

Country

  • United States

Key Players

  • The Hertz Corporation
  • Avis Budget Group Inc.
  • Advantage Rent-a-car
  • Alamo
  • Enterprise Holdings Inc.

Key players competing in the United States vehicle rental market include The Hertz Corporation; Avis Budget Group Inc.; Advantage Rent-a-car; Alamo; Enterprise Holdings Inc.

Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.

Vehicle Rental Market

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