Car rental is a service which allows customers to hire automobiles on rent through online & offline platforms. The service includes renting out vehicles on per hour or per kilometer (KM) basis. The service providers extend their services for a definite period ranging from days to months. The service providers also offer cars to those who are travelling or who are not having their own vehicles. The rental services come with car insurance & damage repair compensation policies for convenience of the travelers. Additionally, service providers also offer value added products for instance WiFi, child lock, phone chargers and entertainment media, etc.
According to study, “Europe Car Rental Market Outlook to 2025- By Region (France, Germany, Spain, United Kingdom, Italy, Portugal, Ireland, Poland and Others), By Fleet (Compact, SUV, Luxury) and By Purpose (Leisure and Business), Car Sharing By Fleet Size and Users and Cab Aggregator By Revenue and User)” the key companies operating in the Europe car rental market are Avis Budget, Hertz, Sixt, Europcar, Enterprise. The key players have been competing on the basis of customer service quality, price, ease of vehicle rental & return, vehicle reliability, availability, rental locations, national or international distribution, product innovation, and other value added services in order to distinguish their service offerings from other players in the market.
Based on rental type, Europe car rental market is segmented into local transport, airport transport and outstation transport. The airport transport segment holds major share in market owing to presence of several vendors providing convenient services to car rental customers such as complimentary vehicle insurance. Based on fleet type, market is segmented into SUV, compact and luxury & premium. Compact fleet segment includes Volkswagen Golf, Ford Focus, and Seat Leon. Based on booking type, market is segmented into online access and offline access. Based on rental category, market is segmented into off-airport and on-airport. Off-airport rental category includes outstation off-airport car rental, local usage outstation off-airport car rental and others. In addition, based on purpose type, market is segmented into business and leisure.
The Europe car rental market is driven by rise in tourist arrivals in European countries, followed by increase in investments in the market, expansion of local & international players, growth in innovative strategies adopted by companies and fall in prices offered by service providers. However, long booking & non-availability of the cars and lack of information on payment options may impact the market. Moreover, rise in impact of telematics on car rental industry, growth in subscription models of rental cars and electric cars in rental industry are key trends for market.
Based on region, Europe car rental market is segmented into Germany, United Kingdom, France, Italy, Ireland, Spain, Poland and others. Germany country dominates the market, followed by France, owing to increase in the frequency of air travel, improvement in the economic conditions, and rise in number of foreign visitors in the country. The United Kingdom country is estimated to witness higher growth rate on account of resurge in economic sentiments, rise in population, and a revival in international tourist arrivals over the forecast period. In upcoming years, it is anticipated that future of the market will be bright as a result of growth in off-airport car rental market and rise in expansion of tourism & travel industry during the forecast period.
Key Segments Covered:-
Europe Car Rental Market
By Region
France
Germany
Spain
United Kingdom
Italy
Portugal
Ireland
Poland
Others
By Fleet Type
Compact
SUV
Luxury and Premium
By Purpose
Leisure
Business
By Rental Location
On-Airport
Off-Airport
Europe Cab Aggregator Market
Europe Cab Aggregator Market By Revenue
Europe Cab Aggregator Market By Number of Users
Europe Car Sharing Market
Europe Car Sharing Market By Fleet Size
Europe Car Sharing Market By Number of Users
Key Target Audience:-
Car Rental Companies
Ride Hailing Companies /Cab Aggregators
Car Sharing Companies
Ride Sharing Companies
Government/ Regulatory Authorities
Online Aggregators
Automotive OEMs
Time Period Captured in the Report:-
Historical Period: 2013-2018
Forecast Period: 2019F-2025F
Companies Covered:-
Europe Car Rental Market
Europcar
Sixt
Avis Budget Group
Hertz
Enterprise-Rent-a-Car
Europe Cab Aggregator Market
Uber
Bolt
Gett
Cabify
Kapten
FreeNow
Europe Car Sharing Market
ShareNow
Zipcar
Ubeeqo
Getaround
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Ankur Gupta, Head Marketing & Communications
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