Car Rental Market Size [2021-2027] Worth USD 144.21 Billion | Exhibit a CAGR 6.7% – GlobeNewswire

| Source: Fortune Business Insights Fortune Business Insights
Pune, India, March 28, 2022 (GLOBE NEWSWIRE) — The global car rental market size is estimated to grow significantly owing to the increasing smartphone penetration in developing countries, observes Fortune Business Insights™ in an upcoming report, titled, “Car Rental Market Size, Share & COVID-19 Impact Analysis, By Vehicle Type (Luxury Cars, Executive Cars, Economy Cars, SUVs, and MUVs), By Application Type (Local Usage, Airport Transport, Outstation, and Others), By Rental Duration Type (Short-Term, Long-Term), and Regional Forecast, 2020-2027.” The market size was USD 85.79 billion in 2019 and is anticipated to reach USD 144.21 billion by 2027, exhibiting a CAGR of 6.7% during the forecast period.
The report provides a detailed market outline, covering each facet of definitions, classifications, applications, and industry chain frameworks. It throws light on the crucial market dynamics, together with the current trends in the market. The report covers the analysis of various sectors in its entirety that propels the growth of the market like trends & opportunities, which may affect the market in a negative/positive way in the long run.
Key Industry Development
•  In September 2020, Localiza Rent a Car SA acquired Unidas, a Brazilian car rental company and close rival of Localiza for USD 2.18 billion. The company shall acquire 76.9% stake in the Unidas and they shall operate a fleet of over 4,70,000 vehicles together. This acquisition is anticipated to boost the overall market share of Localiza and shall help the company to improve its services across Brazil.
•  In August 2019, Europcar Mobility Group acquired 100% stakes in Fox Rent A Car. This acquisition shall help the company to achieve target revenue of USD 4.5 billion and 15 million active customers by 2023 as decided by the company’s strategic roadmap.

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Car Rental Market Market Growth Drivers:

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Car Rental Market Segments Analysis
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The Report Lists the Key Companies in the Global Market
•             Enterprise Holdings Inc. (Missouri, U.S.)
•             Hertz Global Holdings (Florida, U.S.)
•             Avis Budget Group (New Jersey, U.S.)
•             Europcar Mobility Group (Paris, France)
•             Lotte rental (Gyeonggi Province, South Korea)
•             TOYOTA Rent a Car (Aichi, Japan)
•             Europcar International (Paris, France)
•             Sixt SE (Pullach, Germany)
•             Localiza Rent a Car SA (State of Minas Gerais, Brazil)
•             CAR Inc (Beijing, China)
•             Renault Eurodrive (Boulogne-Billancourt, France)
•             Alamo Rent A Car LLC (Missouri, U.S.)
•             Others

Global Car Rental  Market Segmentation:
By Vehicle Type :
By Application Type:
By Rental Duration Type
By Geography

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