1.1 Definition and presentation
The term "car rental" refers to those companies that offer the service of renting cars of different kinds for different periods of time (may be hours but also months). The customers of these companies are most often tourists or people who need a car for work. For this reason, the locations for making the rental are usually located at ports, airports or railways. In addition to rental per se, it is possible to request additional services such as child seats, telepass or GPS.
The types of vehicles offered by car rental companies are mainly:
Globally, the value of the car rental market is about $98.14 billion (year 2020 figure) and is expected to grow between 2021 and 2028 at a compound growth rate (CAGR) of 4.6 percent.
Regarding the rental market in Italy, it can be seen that long-term rental in recent years has achieved positive results. In 2020, the number of cars rented increased by 2.4 compared to the previous year. As for the short-term rental market, the pandemic has resulted in losses. Despite this, the market is expected to recover in the coming years due to the fact that more and more people are traveling for work and tourism.
The trends that mark this market now are: the electric car with self-driving, rental of used cars, medium-term rental (more than 30 days but less than a year) and digitization of the entire market, focus on small and medium-sized businesses as the most profitable customer.The most recognized companies in this market are: Arval, Ald Automotive, Leasys Volkswagen and Mercedes Benz CharterWay.
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1 sector analyzed
in 40 pages
The car rental market - France
Publicado en 01/09/2022 by Jamal Bourbaa
Accurate and up-to-date information Gives a global and relevant vision of the market
Thank you Jamal for your opinion!
The car rental market - France
Interesting commentary on the birth of car-sharing and the appearance of many start-ups in the sector. Little information on long-term rental
Hello Sébastien, Thank you for your feedback which helps us to improve the quality of our studies. We will keep you informed if an update is made by our teams soon. :)