Company that rents
automobiles at a certain charge for a particular period of time is known as car
rental agency. These agencies are primarily located in busy city areas or near
airports. The cars can be rented also through online reservations. These agencies
cater to people traveling out of town. Car rental agencies rent out vans,
trucks, motorcycles or even scooters. These agencies offer extra products such
as global positioning systems, entertainment systems, navigation systems,
insurance and at times mobiles phones.
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The growth in tourism has
been the primary driver for the growth of the car rental agencies. It gives the
travelers the liberty to move around conveniently. It caters to the corporate
world, wherein client’s transportation is being prioritized. People often fear
of the unwarranted claims made by car rental agencies. They are often made to
pay extra for stuffs that were not included earlier. Different condition
parameters set forth by the car rental agencies prevent people from renting
cars. . Growing number of air travelers has increased the revenue of car rental
agencies. Globalization has instigated various multinational companies to
establish their business overseas. This in turn has fuelled the car rental
market demand, as people travelling abroad to client sites depend on such
reliable services that help them reach their destinations conveniently.
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North America holds the
largest market share of car rental industry which is one of the prominent
regions wherein car rental service has flourished significantly. Some of the
prominent regions in North America are the U.S and Canada. North America is
followed by Europe which holds second largest market share for car rental
market. The emerging countries such as India, China are steadily growing in the
car rental industry mainly due to growing demand in these countries. Some of
the largest car rental agencies are Hertz, Avis, National, Budget, Alamo,
Enterprise, Thrifty among others.
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This report is a complete
study of current trends in the market, industry growth drivers, and restraints.
It provides market projections for the coming years. It includes analysis of
recent developments in technology, Porter’s five force model analysis and
detailed profiles of top industry players. The report also includes a review of
micro and macro factors essential for the existing market players and new
entrants along with detailed value chain analysis
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