IMARC Group’s latest research report, titled “Global Tourism Vehicle Rental Market Trends, Share, Size, Industry Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global tourism vehicle rental market reached a value of US$ 49.86 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 71.69 Billion by 2027, exhibiting a CAGR of 6.10% during 2022-2027.
Tourism vehicle rental is a facility of temporarily renting an automobile for travel and tourism activities. It is available through online and offline platforms where individuals can rent economy, executive, and luxury vehicles for a few hours, days, or weeks by depositing a sum of money. These vehicles are integrated with several value-added services and are available with insurance to protect the welfare of tourists and the service agent. As tourism vehicle rental services also minimize the need for self-owned cars, they are rapidly gaining traction among individuals across the globe.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by vehicle type, booking mode and end user and region.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Tourism Vehicle Rental Market
- Strategies of major players and product offerings
The market is primarily driven by the expanding travel and tourism industry. Tourism vehicle rental provides mobility and minimizes the expenses associated with the vehicle. It also offers the easy availability of periodically sanitized rented vehicles for safe travel, due to which tourism vehicle rental is gaining popularity worldwide. In addition, the integration of dashcams, global positioning systems (GPS), and other geo-tracking technologies with rented vehicles represent another major growth-inducing factor. Besides this, with the advent of web-based solutions and smartphones, renting cars has become effortless as consumers can conveniently rent them online. This, coupled with the implementation of favorable government policies for developing tourism infrastructure and encouraging tourism activities in monuments, museums, and parks, is propelling the market growth.
Key Players Included in Global Research Report:
- Alamo (Enterprise Holdings Inc)
- Auto Europe
- Avis Budget Group Inc.
- Carzonrent India Pvt Ltd.
- com
- Europcar Mobility Group
- Europe Luxury Cars
- Kemwel
- Sixt SE
- The Hertz Corporation
- Zoomcar India Private Ltd.
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COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Segmentation:
Breakup by Vehicle Type:
- Economy
- Luxury/Premium
Breakup by Booking Mode:
- Online
- Offline
Breakup by End User:
- Self-Driven
- Rental Agencies
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
TOC for the Tourism Vehicle Rental Market Research Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- Global Tourism Vehicle Rental Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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