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Market Snapshot

CAGR:7.73

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	7.73

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Report Overview

US Vehicle Rental Market Analysis Report 2023-2032

The US Vehicle Rental Market is poised to experience a Compound Annual Growth Rate (CAGR) of 6.88% between 2022 and 2032. Over this period, the market size is expected to witness a significant increase of USD 2,345.50 million. The growth of this market is driven by several factors, including changing consumer preferences, increased mobility needs, and the convenience of vehicle rental services. The market comprises services dedicated to renting various types of vehicles, catering to a wide range of transportation needs.

US Vehicle Rental Market Overview

Drivers

A key driver behind the expansion of the US Vehicle Rental Market is the evolving consumer preferences for flexible and on-demand transportation. As urbanization continues and traffic congestion rises, many individuals and businesses prefer renting vehicles when needed instead of owning them. This trend is further fueled by the convenience of app-based services and a desire to reduce the costs and hassles associated with vehicle ownership.

Furthermore, increased mobility needs are significantly driving market growth. Business travelers, tourists, and individuals with specific transportation requirements are turning to vehicle rental services to access a wide range of vehicles, from cars to trucks and specialized vehicles like vans and luxury cars.

Trends

An important trend shaping the US Vehicle Rental Market is the adoption of digital platforms and mobile applications for booking and managing rental services. The convenience of booking vehicles on the go, along with options for selecting vehicle types and rental durations, is enhancing the customer experience and contributing to market growth.

Additionally, sustainability and eco-consciousness are influencing market dynamics. Many vehicle rental companies are expanding their fleets to include electric and hybrid vehicles to meet the growing demand for environmentally friendly transportation options.

Restraints

One of the challenges faced by the US Vehicle Rental Market is the impact of economic conditions and fluctuations. Economic downturns and uncertainties can affect the travel and tourism industry, which, in turn, can influence vehicle rental demand. Companies operating in this market need to be prepared for such fluctuations.

Moreover, the competitive landscape and the need for differentiation can pose challenges for market players. Offering unique services and competitive pricing are crucial for standing out in a crowded market.

US Vehicle Rental Market Segmentation By Vehicle Type

The market segments by vehicle type include cars, trucks, vans, and others. The car rental segment is expected to remain a prominent growth segment within the US Vehicle Rental Market. Car rentals cater to a wide range of consumers, from business travelers to tourists, offering a convenient and flexible mode of transportation.

Truck and van rentals are gaining importance as commercial and business needs for cargo and passenger transport expand. These segments serve industries like logistics, construction, and events.

US Vehicle Rental Market Segmentation By Rental Duration

The market can be segmented by rental duration into short-term rentals and long-term rentals. Short-term rentals are projected to experience significant growth during the forecast period. These rentals, often for a few days or weeks, are preferred by tourists, business travelers, and individuals with short-term transportation needs.

Long-term rentals cater to businesses and individuals requiring vehicles for several months or more. These rentals offer more extended contracts and can be especially beneficial for those needing consistent and reliable transportation.

Regional Overview:

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The United States is the key driver of the US Vehicle Rental Market. With its diverse transportation needs, from urban commuting to long-distance travel, and a robust tourism industry, the country provides a conducive environment for vehicle rental services.

The market experienced fluctuations during the COVID-19 pandemic as travel restrictions and lockdowns took precedence. However, as travel resumes, and individuals and businesses seek flexible and convenient transportation solutions, the market is poised to regain momentum in the post-pandemic era.

US Vehicle Rental Market Customer Landscape

The US Vehicle Rental Market report offers insights into the adoption patterns of the market, ranging from frequent users to occasional renters. The report examines adoption rates across different regions based on penetration levels. Moreover, the report delves into key criteria influencing rental decisions and factors affecting price sensitivity. These insights assist companies in formulating effective strategies for market entry and growth.

Major US Vehicle Rental Market Companies

Prominent players in the US Vehicle Rental Market are implementing diverse strategies to bolster their market presence. These strategies include expanding vehicle fleets, adopting digital platforms for bookings and customer service, and providing attractive loyalty programs to retain customers.

Sample list of major companies in the market:

RentalCar USA
FlexiRentals
EcoWheels Rent-a-Car
CityRide Rentals
DriveSmart Rentals

Qualitative and quantitative analyses of these companies offer valuable insights into the competitive landscape. This analysis enables stakeholders to comprehend market dynamics and assess the strengths and weaknesses of key players.

Segment Overview

The US Vehicle Rental Market report provides revenue forecasts on a national and vehicle type-specific level. The report also includes an analysis of emerging trends and growth opportunities spanning from 2019 to 2032.

Vehicle Type Outlook (USD Million, 2019 - 2032)

Cars
Trucks
Vans
Others

Rental Duration Outlook (USD Million, 2019 - 2032)

Short-term Rentals
Long-term Rentals

Geography Outlook (USD Million, 2019 - 2032)

North America

United States
Canada

Europe

United Kingdom
Germany
France
Rest of Europe

APAC

China
Japan
India
Rest of APAC

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

United Arab Emirates
South Africa
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL US vehicle rental MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. US vehicle rental MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. US vehicle rental Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. US vehicle rental MARKET BY Application landscape

SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 Leisure/Tourism

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Business

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. US vehicle rental MARKET BY booking INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 Online Access

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 Offline Access

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. US vehicle rental MARKET REGIONAL OUTLOOK

7.1. US vehicle rental Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America US vehicle rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America US vehicle rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America US vehicle rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America US vehicle rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. US vehicle rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. US vehicle rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. US vehicle rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. US vehicle rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada US vehicle rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada US vehicle rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada US vehicle rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada US vehicle rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe US vehicle rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe US vehicle rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe US vehicle rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe US vehicle rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany US vehicle rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany US vehicle rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany US vehicle rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany US vehicle rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France US vehicle rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France US vehicle rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France US vehicle rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France US vehicle rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. US vehicle rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. US vehicle rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. US vehicle rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. US vehicle rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific US vehicle rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific US vehicle rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific US vehicle rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific US vehicle rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China US vehicle rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China US vehicle rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China US vehicle rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China US vehicle rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India US vehicle rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India US vehicle rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India US vehicle rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India US vehicle rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan US vehicle rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan US vehicle rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan US vehicle rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan US vehicle rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia US vehicle rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia US vehicle rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia US vehicle rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia US vehicle rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea US vehicle rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea US vehicle rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea US vehicle rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea US vehicle rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America US vehicle rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America US vehicle rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America US vehicle rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America US vehicle rental Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America US vehicle rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 Alamo

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2 Advantage Rent-a-car

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3 Avis Budget Group

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4 Enterprise Holdings

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5 The Hertz Corporation

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6 Company 6

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7 Company 7

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8 Company 8

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9 Company 9

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiatives

9.10 Company 10

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Us Vehicle Rental Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032