(MENAFNEditorial) New York, NY, Sept. 14, 2018 (GLOBE NEWSWIRE) -- Car rental is a service which provides car and automobiles on rent for short periods of time. This time period generally ranges from few hours to weeks. Car rental service is primarily located near airports, tourist places or city etc. There are many conditions on car rental service which may vary by specific country. The majority of car rental companies use a credit card to take additional fees or deposit amount before giving car on rent. Some companies request to carry identity documents while hiring car on rent.
According to the report, the global car rental market was valued at approximately USD 58.26 billion in 2016 and is expected to reach approximately USD 124.56 billion by 2022, growing at a CAGR of around 13.55% between 2017 and 2022.
The car rental market is expected to witness significant growth due to the increasing tourism industry. The major driving factor for car rental market is growth in the international tourism which in turn supports the demand for car rental services. In addition, healthy economic growth and rising disposable income in developing countries are expected to have a positive impact on car rental market. The high demand of internet and smartphone that increases the convenience of car rental service is expected to develop an astounding growth of key players of this market. Affordable prices of car rental services and rising demand of car rental on daily basis need are emerging trends which are likely to open new market avenues in the near future. However, some restraints like a rise in crude oil prices may hamper the growth of this market.
Request Free Sample Report of Car Rental Market: Download Free Report PDF Brochure: Car rental Market by Car Type (Luxury Cars, Executive Cars, Economy Cars, SUV Cars and MUV Cars) for Local Usage, Airport Transport, Outstation and Others: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2016 - 2022" report at Inquire more about this report before purchase @ The report segments the global car rental market as:
Car Rental Market: Car Type Segment Analysis
- Luxury cars
- Executive cars
- Economy cars
- SUV cars
- MUV cars
Car Rental Market: End-users Segment Analysis
- Local usage
- Airport transport
- Outstation
- Others (Including self-drive, event transportation, employee transportation solutions)
Car Rental Market: Regional Segment Analysis
Europe Germany UK France Asia Pacific China Japan India Latin America Brazil Middle-East and Africa Browse Related Reports:
- Boat Market: Carpets & Rugs Market: Consumer Electronics Market: Cold Chain Equipment Market: Car Accessories Market: About Us:
Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client's needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Follow Us LinkedIn: Follow Us Twitter: Blog: Contact Us:
Joel John
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll Free No.1-855-465-4651
Email:
Website: Blog:
MENAFN1409201800703653ID1097432608
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.