The tourism industry is proliferating with government support, combined with increasing per capita income. The vehicle rental is on the rise with the growing tourism sector and a growing preference of consumers towards self-driven rental. Additionally, easy accessibility and interactive platforms by market players for ready rent are pushing the consumers during the forecast period.
The Tourism Vehicle Rental Market report is a combination of qualitative as well as quantitative analysis which can be broken down into 40% and 60% respectively. Market estimation and forecasts are presented in the report for the overall global market from 2018 – 2027, considering 2018 as the base year and 2018 – 2027 forecast period. Global estimation is further broken down by segments and geographies such as North America, Europe, Asia-Pacific, Middle East & Africa and South America covering major 16 countries across the mentioned regions. The qualitative contents for geographical analysis will cover market trends in each region and country which includes highlights of the key players operating in the respective region/country, PEST analysis of each region which includes political, economic, social and technological factors influencing the growth of the market.
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The tourism vehicle rental market is projected to lucrative growth in the forecast period owing to driving factors such as the growth of the tourism sector coupled with an increased focus of government towards roadway construction. Moreover, the growing inclination of tourists and consumers towards rental system further promotes market growth. However, underdeveloped infrastructure for car rental may hurt the growth of the tourism vehicle rental market during the forecast period. Nonetheless, mobile-based services are likely to create significant opportunities for market players in the coming years.
Top Dominating Key Players: Auto Europe, Avis Rent A Car System, Budget Rent , Car System, Carzonrent India Pvt Ltd., Enterprise Holdings, Europcar Mobility Group SA, Europe Luxury Car Hire, SIXT Rent a Car, The Hertz Corporation and Zoomcar India Private Limited
The global tourism vehicle rental market is segmented on the basis of vehicle type, booking mode, and end user. Based on vehicle type, the market is segmented as economy and luxury. On the basis of the booking mode, the market is segmented as online and offline. The market on the basis of the end user is classified as self-driven and rental agencies.
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This post was originally published on Commerce Gazette