Nov 27, 2020   SOURCE: PR NewsWire

Key Trends and Forecasts for the Global Car Rental Market to 2024

DUBLIN, Nov. 27, 2020 /PRNewswire/ -- The "Key Trends in Car Rental" report has been added to ResearchAndMarkets.com's offering.

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The rapid decline in domestic and international travel caused by the pandemic has created a drastic knock-on impact for the car rental industry. With the temporary collapse of tourism flows, many car rental firms have been forced to grapple with suppressed demand and, causing many to rapidly streamline operations in order to navigate the pandemic. However, several are adapting and adopting new technologies and strategies in a bid to cater to changing consumer preferences.

Key Highlights:

    --  The car rental market is set to increase in size even after accounting
        for the challenges faced from the COVID-19 pandemic. The publisher
        forecasts that in the years to come, the number of car rental days will
        increase with a CAGR of 3.2% between 2019 and 2024.
    --  The online car rental market share is set to increase and may have been
        accelerated due to the COVID-19 pandemic. In 2019 online sales accounted
        for 54% of car rental sales. As consumers are now more concerned about
        the spread of the virus, they are actively looking to reduce their
        interaction with others and renting a vehicle through an online channel
        addresses this concern
    --  Technology will drive change in the industry with touchless technology
        becoming one of the most important short term innovations. Although not
        new technology, the implementation of touchless technological solutions
        in traditional car rental has been limited. It has almost become the
        industry standard in car sharing and it has started to migrate across
        into the car rental market.
    --  The popularity of ride-hailing companies such as Uber and Lyft threaten
        the existence of car rental companies.

Scope:

    --  This report provides analysis of key market trends, M&A deals, and
        company strategies in the car rental industry.
    --  Major car rental companies are assessed, along with an analysis of
        different market segments to provide valuable insight. Challenges along
        with opportunities in the industry are explained in relation to industry
        examples.

Key benefits:

    --  Gain an insight into the car rental industry's leading players.
    --  Understand the key traveller types car hire companies can look to
        attract
    --  Look at the impact of the COVID-19 pandemic on this industry
    --  Gain a detailed understanding of the key trends, issues and challenges
        facing car rental companies

Key Topics Covered:

    --  Snapshot
    --  Key Market Trends Influenced by COVID-19
    --  Key Market Trends
    --  Airport Market Trends
    --  Company Case Studies
    --  Sixt
    --  Enterprise
    --  Hertz
    --  Sector Deals
    --  Challenges and Opportunities
    --  Appendix

For more information about this report visit https://www.researchandmarkets.com/r/uugd0r

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