Tourism Vehicle Rental Market Global Analysis 2022-27: Growth, Trends, COVID-19 Impact, Size and Forecast

According to the global tourism vehicle rental market analysis report by IMARC Group, The market reached a value of US$ 49.86 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 71.69 Billion by 2027, exhibiting a CAGR of 6.10% during 2022-2027.

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Tourism vehicle rental is a facility of temporarily renting an automobile for travel and tourism activities. It is available through online and offline platforms where individuals can rent economy, executive, and luxury vehicles for a few hours, days, or weeks by depositing a sum of money. These vehicles are integrated with several value-added services and are available with insurance to protect the welfare of tourists and the service agent. As tourism vehicle rental services also minimize the need for self-owned cars, they are rapidly gaining traction among individuals across the globe.

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Important Attribute and highlights of the Report:

Detailed analysis of the global market share
Market Segmentation by vehicle type, booking mode and end user and region.
Historical, current, and projected size of the market in terms of volume and value
Latest industry trends and developments
Competitive Landscape for Tourism Vehicle Rental Market
Strategies of major players and product offerings

The market is primarily driven by the expanding travel and tourism industry. Tourism vehicle rental provides mobility and minimizes the expenses associated with the vehicle. It also offers the easy availability of periodically sanitized rented vehicles for safe travel, due to which tourism vehicle rental is gaining popularity worldwide. In addition, the integration of dashcams, global positioning systems (GPS), and other geo-tracking technologies with rented vehicles represent another major growth-inducing factor. Besides this, with the advent of web-based solutions and smartphones, renting cars has become effortless as consumers can conveniently rent them online. This, coupled with the implementation of favorable government policies for developing tourism infrastructure and encouraging tourism activities in monuments, museums, and parks, is propelling the market growth.

Key Players Included in Global Research Report:

Alamo (Enterprise Holdings Inc)
Auto Europe
Avis Budget Group Inc.
Carzonrent India Pvt Ltd.
com
Europcar Mobility Group
Europe Luxury Cars
Kemwel
Sixt SE
The Hertz Corporation
Zoomcar India Private Ltd.

COVID-19 Impact Overview:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Market Segmentation:

Breakup by Vehicle Type:

Economy
Luxury/Premium

Breakup by Booking Mode:

Online
Offline

Breakup by End User:

Self-Driven
Rental Agencies

Breakup by Region:

North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa

TOC for the Tourism Vehicle Rental Market Research Report:

Preface
Scope and Methodology
Executive Summary
Introduction
Global Tourism Vehicle Rental Market
SWOT Analysis
Value Chain Analysis
Price Analysis
Competitive Landscape

Who we are:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Tourism Vehicle Rental Market