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The global car rental market was valued at US$ 76.7 Billion in 2021.
We expect the global car rental market to exhibit a CAGR of 3.8% during 2022-2027.
The growing travel and tourism sector, along with the rising adoption of carpooling system for increased
mobility and cost-effective traveling, is currently driving the global car rental market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations resulting in the temporary shutdown of non-essential services, such as
leisure travelling, thereby limiting the demand for car rental services.
Based on the booking type, the global car rental market can be segmented into offline booking and
online booking, where online booking holds the majority of the total market share.
Based on the rental length, the global car rental market has been divided into short term and long term.
Currently, short term exhibits a clear dominance in the market.
Based on the vehicle type, the global car rental market can be categorized into luxury, executive,
economy, SUVs, and others. Among these, luxury car currently accounts for the majority of the global
Based on the application, the global car rental market has been segregated into leisure/tourism and
business, where leisure/tourism holds the largest market share.
Based on the end user, the global car rental market can be bifurcated into self-driven and chauffeur-
driven. Currently, self-driven exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global car rental market include Avis Budget Group, Inc., Carzonrent
India Private Limited, Eco rent a car, Sixt SE, Localiza, Enterprise Holdings, Inc., Enterprise Rent-A-Car,
Europcar, The Hertz Corporation, etc.
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