Albany, New York, May 4, 2017: As per a recent global market discussion of car rental, the market is all set to expand significantly in the coming few years, which is majorly driven by expansion and growth of the traveling & tourism industry. Market Research Reports Search Engine (MRRSE) has recently broadcasted this latest study to their huge offerings, which is titled as “Car Rental Market – Global Industry Analysis, Trend, Size, Share and 2016-2024 Forecast”. The researchers have prepared this study by examining some of the key regions, including North America, Asia-Pacific, Europe, Middle East and Africa and Latin America. Additionally, a brief discussion on current trends, drivers and restraints; and competitive landscape of the market are underlined. This study has been published by Transparency Market Research (TMR) and according to the TMR analysts’ predictions, the global car rental market will expand at a b CAGR of 14.40% during the period from 2014 to 2024 and the market’s valuation is likely to touch US$290.07 billion, by the end of the forecast period.

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In the initial sections, the readers will able to get information about the current scenario of car rental market along with its demand in several regions including market segmentation, market attractiveness analysis, opportunities for the major players operating in this market, etc. Today, car rental is the preferred choice of those who want to have their own mode of transport when traveling to different places either locally or abroad. If the customers want to save both precious time and resources to accommodate their travels or visit to a new place, a rental car will be able to answer all the needs and enable them to roam the city streets and highways in utmost convenience.

Currently, the major driving factor for car rental market is growth in the international tourism which in turn supports the demand for car rental services. Apart from that, the globally rising disposable incomes, together with improved road infrastructure are the prime factors which have boosted the number of leisure and business trips, this, as a result, will drive the growth trajectories of the global car rental market.

Moving further, the report segments the market on the basis of car types, categories and by regions. In terms of geography, North America has acquired the market’s lead. Researchers believe that Europe and North America will maintain their lead throughout their forecast period.

By car types, it covers:

  • Luxury Cars
  • Economy Cars
  • Executive Cars
  • MUVs
  • SUVs

On the basis of the category, the market is further segmented into local usage, airport, outstation and others.

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With so many rental companies flooding the market, they have to constantly offer new deals, better cars, and improved customer service to keep their business booming. Some of the major market participants profiled in this report include:

  • Avis Budget Group, Inc.
  • Enterprise Rent-A-Car
  • The Hertz Corporation
  • EuropCar
  • Sixt

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