Luxury Cars Rental Market Increasing at A Phenomenal Pace to Reach USD 38.8 Billion by 2028

27-Sep-2021 | Zion Market Research

Some of key players in Luxury Cars Rental market are Avis Budget Group, Inc., Sixt Rent-A-Car, Enterprise Rent-A-Car, The Hertz Corporation, Europcar, Al-Futtaim Group, Carzonrent, Localiza Rent A Car, Eco Rent A Car, among others. These players are set to bolster the development of global Luxury Cars Rental market.

According to analysts at Zion Market Research, the global Luxury Cars Rental market accounted for USD 32.7 Billion in 2020 and is expected to reach USD 38.8 Billion by 2028, growing at a CAGR of 2.4% from 2021 to 2028.

This review is based on a report by Zion Market Research, titled “Luxury Car Rental Market By Rental Type (Business, and Leisure), By Booking Mode (Online, and Offline): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”

Global Luxury Car Rental Market Size

Massive Rise In Traffic to Magnify Market Revenue

Increasing tension with respect to traffic backed by the rising vehicles on roads is set to further improve luxury car rental market growth globally. People nowadays are bending more towards luxury car rentals as an alternative of buying their own cars due to the increasing traffic problems & its harmful effects on our health.

One doesn’t have to take the effort to drive them to reach their destination, since, these cars are chauffeur driven. It has many benefits, such as enhanced traveling convenience, cost-effectiveness, low air pollution level and reduction in traffic volume. At the same time, renting or hiring a car helps in decreasing various hidden costs that the buyer often has to bear while he/she owns a car.  Presence of Big Players in The Region Support North America’s Dominance

The luxury cars rental market is fragmented on the basis of the region as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among the above-mentioned regions, Asia Pacific luxury cars rental market is expected to expand at a relatively high growth rate over the forecast period. However, luxury cars rental market in North America is expected to dominate the global market with 46.7% revenue share by 2022 end.

Browse the full Luxury Car Rental Market By Rental Type (Business, And Leisure), By Booking Mode (Online, And Offline): Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/luxury-cars-rental-market

The global Luxury Cars Rental market is segmented as follows:

By Type

  • Business
  • Leisure

By Booking Mode

  • Online
  • Offline

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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