MCP-1044: CAR RENTAL BUSINESS – A GLOBAL STRATEGIC BUSINESS REPORT

Car Rental Market Revenues to Reach $52.6 Billion in 2012, According to New Report by Global Industry Analysts, Inc.

Faced with volatile trends in the recent past, car rental market is slowly on track, owing to rebound in international travel and tourism. Car rental market is expected to reach $52.6 billion in 2012.

San Jose, California (PRWEB), April 24, 2008 -- Car rental is an integral part of the global travel and transportation industry. The market is largely dependent on the fortunes of the air travel industry. The aftermath of 9/11 events, a weak economy and faltering consumer confidence seriously hindered international tourism in the years 2000-2002. The market was further destabilized by the US-led war on Iraq. The subsequent years saw the tourism industry rebound, enabling recovery of car rental market. Growing sophistication of the car rental business in terms of service enhancements such as increased comfort, better networks, better vehicle condition, availability and improved reservation efficiencies, also contributed to growth.

United States is the global leader in terms of revenues. US represents the largest car rental market worldwide, worth an estimated $23.2 billion, as stated by Global Industry Analysts, Inc. North America and Europe account for over 77 percent of the global car rental market. European car rental market is led by Germany, accounting for over 30% of the market. Global airport car rental market is expected to cross $25 billion by 2010. Leisure car rental revenues in the US are expected to be over $14 billion by 2010.

The industry is completely unregulated with no prescribed rules or procedural guidelines. Customers can rent their cars from either major companies or from a local independent company. Market participants include Avis Budget Group, Avis Rent-A-Car System, Budget Rent-A-Car System, Dollar Thrifty Automotive Group, Dollar Rent-A-Car, Thrifty Car Rental, Enterprise Rent-A-Car, Vanguard Car Rental, Alamo Rent-A-Car, National Car Rental, Europcar, Payless Car Rental, Rent-A-Wreck of America, Sixt Aktiengesellschaft and The Hertz Corporation

“Car Rental Business: A Global Strategic Business Report” published by Global Industry Analysts, Inc., provides a comprehensive review of market trends and issues, drivers, business profile, players, competitive landscape, recent developments, mergers, acquisitions, alliances, service launches and other strategic industry activities. Analysis is presented for major geographic markets such as United States, Japan, France, Germany, the UK, Italy, Spain, Asia, Latin America and the Middle East. The study presents revenue analytics for the period 1991-2015, by rental locations including airport and non-airport and by sectors - Leisure, Business and Insurance Replacement.

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