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Luxury Car Rental Market - Global Industry Analysis

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

Published Date: 27-Sep-2021 Category: Automotive Report Format : PDF Pages: 160 Report Code: ZMR-2243 Status : Published

The Luxury Car Rental Market accounted for USD 32.7 Billion in 2020 and is expected to reach more than USD 38.8 Billion by 2028, growing at a CAGR of 2.4% from 2021 to 2028.

Description

Market Overview

The Luxury Car Rental Market accounted for USD 32.7 Billion in 2020 and is expected to reach more than USD 38.8 Billion by 2028, growing at a CAGR of 2.4% from 2021 to 2028.

A luxury car provides high level of equipment, comfort, quality, performance, amenities, and status compared to regular cars for a higher price. Compact Luxury Cars, Full-size Luxury Cars, Mid-size Luxury Cars, Luxury SUVs, Luxury Crossovers & Minivans these are the type of luxury cars.

Global Luxury Car Rental Market Size

COVID-19 Impact Analysis

COVID-19 harshly impacted demand for Luxury Car Rental Market. Lockdown in different countries has adversely affected the Luxury Car Rental companies. The outbreak of novel coronavirus affected on many aspects, like travel bans and flight cancellations which forced people to sit at home which means people cannot roam around for business or leisure. This has affected severely to the car rental services.

Growth Factors

Increasing tension with respect to traffic backed by the rising vehicles on roads is set to further improve luxury car rental market growth globally. Likewise, the blooming travel and tourism industry in different countries, as well as rising air pollution would stimulate growth. 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.

Report Scope :

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Type Segment Analysis Preview

Business segment held a share of over 60% in 2020. Business rental car services are mainly used by group of people and individuals for travelling for conferences, meetings, seminars, workshops, and to their regular working spaces. Leisure rental car service is usually used for occasions, outings, weddings, road trip, parties, and others.

Booking Mode Segment Analysis Preview

Online segment is projected to grow at a CAGR of around 2.7% from 2021 to 2028. Growing number of customers is a key factor driving the endorsement of online platform for renting out a luxury car as they offer various benefits over an offline seller such as discounts and cashbacks to attract the customer, development in internet connectivity, one click procedures, and it’s a time saving method.

Moreover, market players are developing strategies for instance, customization in the products according to the requirements and delivering at the doorstep is also helping in growing the market share.

Global Luxury Car Rental Market Share

Regional Analysis Preview

North America accounted for a share of over 37% in 2020 and is expected to generate a substantial growth in luxury car rental service market while maintaining its leading position in the coming few years supported by the increasing technological advancements in the region. Also, the existence of different renowned luxury cars rental service providers in the region would drive the growth.

Asia Pacific in the coming years is expected to remain in the second position owing to the rising craze of luxury cars in the region. Additionally, the increasing adoption of greater production of passenger cars and state-of-the-art technologies would augment growth in this region. The global market is made of a large number of Small and Medium Enterprises (SMEs). SMEs are striving constantly to bolster their positions by taking over other local firms. Some of the firms are helping common people to list up their cars for rental and generate income.

Global Luxury Car Rental Market Regional Analysis

Key Market Players & Competitive Landscape

Some of key players in Luxury Car Rental Market are Goldcar, Aviz Budget, Hertz, Enterprise Holdings, Sixt, Localiza, Fox Rent a Car, Unidas, Movida, eHi car services, among others. The industry players are focusing in joint ventures, new product development, research and development activities to create innovative and new products to stay ahead of the competition.

The Luxury Car Rental Market is segmented as follows:

By Type

  • Business
  • Leisure

By Distribution Channel

  • 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

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Type
        • 2.1.1.2. Market Attractiveness Analysis, By Booking Mode
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Luxury Cars Rental Market, 2016 – 2028 (USD Million)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Luxury Cars Rental Market – Type Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Type, 2020 & 2028
    • 4.2. Business
      • 4.2.1. Market Size and Forecast, By Region (USD Million)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Leisure
      • 4.3.1. Market Size and Forecast, By Region (USD Million)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Luxury Cars Rental Market – Booking Mode Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By Booking Mode, 2020 & 2028
    • 5.2. Online
      • 5.2.1. Market Size and Forecast, By Region (USD Million)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Offline
      • 5.3.1. Market Size and Forecast, By Region (USD Million)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 6 Luxury Cars Rental Market – Regional Analysis
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Million)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.2.2. North America Market Revenue, By Type, 2016 – 2028
      • 6.2.3. North America Market Revenue, By Booking Mode, 2016 – 2028
      • 6.2.4. U.S.
        • 6.2.4.1. U.S. Market Revenue, By Type, 2016 – 2028
        • 6.2.4.2. U.S. Market Revenue, By Booking Mode, 2016 – 2028
      • 6.2.5. Canada
        • 6.2.5.1. Canada Market Revenue, By Type, 2016 – 2028
        • 6.2.5.2. Canada Market Revenue, By Booking Mode, 2016 – 2028
      • 6.2.6. Mexico
        • 6.2.6.1. Mexico Market Revenue, By Type, 2016 – 2028
        • 6.2.6.2. Mexico Market Revenue, By Booking Mode, 2016 – 2028
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.3.2. Europe Market Revenue, By Type, 2016 – 2028
      • 6.3.3. Europe Market Revenue, By Booking Mode, 2016 – 2028
      • 6.3.4. Germany
        • 6.3.4.1. Germany Market Revenue, By Type, 2016 – 2028
        • 6.3.4.2. Germany Market Revenue, By Booking Mode, 2016 – 2028
      • 6.3.5. France
        • 6.3.5.1. France Market Revenue, By Type, 2016 – 2028
        • 6.3.5.2. France Market Revenue, By Booking Mode, 2016 – 2028
      • 6.3.6. U.K.
        • 6.3.6.1. U.K. Market Revenue, By Type, 2016 – 2028
        • 6.3.6.2. U.K. Market Revenue, By Booking Mode, 2016 – 2028
      • 6.3.7. Italy
        • 6.3.7.1. Italy Market Revenue, By Type, 2016 – 2028
        • 6.3.7.2. Italy Market Revenue, By Booking Mode, 2016 – 2028
      • 6.3.8. Spain
        • 6.3.8.1. Spain Market Revenue, By Type, 2016 – 2028
        • 6.3.8.2. Spain Market Revenue, By Booking Mode, 2016 – 2028
      • 6.3.9. Rest of Europe
        • 6.3.9.1. Rest of Europe Market Revenue, By Type, 2016 – 2028
        • 6.3.9.2. Rest of Europe Market Revenue, By Booking Mode, 2016 – 2028
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.4.2. Asia Pacific Market Revenue, By Type, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, By Booking Mode, 2016 – 2028
      • 6.4.4. China
        • 6.4.4.1. China Market Revenue, By Type, 2016 – 2028
        • 6.4.4.2. China Market Revenue, By Booking Mode, 2016 – 2028
      • 6.4.5. Japan
        • 6.4.5.1. Japan Market Revenue, By Type, 2016 – 2028
        • 6.4.5.2. Japan Market Revenue, By Booking Mode, 2016 – 2028
      • 6.4.6. India
        • 6.4.6.1. India Market Revenue, By Type, 2016 – 2028
        • 6.4.6.2. India Market Revenue, By Booking Mode, 2016 – 2028
      • 6.4.7. South Korea
        • 6.4.7.1. South Korea Market Revenue, By Type, 2016 – 2028
        • 6.4.7.2. South Korea Market Revenue, By Booking Mode, 2016 – 2028
      • 6.4.8. South-East Asia
        • 6.4.8.1. South-East Asia Market Revenue, By Type, 2016 – 2028
        • 6.4.8.2. South-East Asia Market Revenue, By Booking Mode, 2016 – 2028
      • 6.4.9. Rest of Asia Pacific
        • 6.4.9.1. Rest of Asia Pacific Market Revenue, By Type, 2016 – 2028
        • 6.4.9.2. Rest of Asia Pacific Market Revenue, By Booking Mode, 2016 – 2028
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.5.2. Latin America Market Revenue, By Type, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By Booking Mode, 2016 – 2028
      • 6.5.4. Brazil
        • 6.5.4.1. Brazil Market Revenue, By Type, 2016 – 2028
        • 6.5.4.2. Brazil Market Revenue, By Booking Mode, 2016 – 2028
      • 6.5.5. Argentina
        • 6.5.5.1. Argentina Market Revenue, By Type, 2016 – 2028
        • 6.5.5.2. Argentina Market Revenue, By Booking Mode, 2016 – 2028
      • 6.5.6. Rest of Latin America
        • 6.5.6.1. Rest of Latin America Market Revenue, By Type, 2016 – 2028
        • 6.5.6.2. Rest of Latin America Market Revenue, By Booking Mode, 2016 – 2028
    • 6.6. The Middle-East and Africa
      • 6.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.6.2. The Middle-East and Africa Market Revenue, By Type, 2016 – 2028
      • 6.6.3. The Middle-East and Africa Market Revenue, By Booking Mode, 2016 – 2028
      • 6.6.4. GCC Countries
        • 6.6.4.1. GCC Countries Market Revenue, By Type, 2016 – 2028
        • 6.6.4.2. GCC Countries Market Revenue, By Booking Mode, 2016 – 2028
      • 6.6.5. South Africa
        • 6.6.5.1. South Africa Market Revenue, By Type, 2016 – 2028
        • 6.6.5.2. South Africa Market Revenue, By Booking Mode, 2016 – 2028
      • 6.6.6. Rest of Middle-East Africa
        • 6.6.6.1. Rest of Middle-East Africa Market Revenue, By Type, 2016 – 2028
        • 6.6.6.2. Rest of Middle-East Africa Market Revenue, By Booking Mode, 2016 – 2028
  • Chapter No. 7 Luxury Cars Rental Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technology Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8 Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Luxury Cars Rental Market: Company Market Share, 2019
      • 8.1.2. Global Luxury Cars Rental Market, Company Market Revenue, 2016 – 2019 (USD Million)
      • 8.1.3. Global Luxury Cars Rental Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Luxury Cars Rental Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9 Company Profiles
    • 9.1. Guldcar
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfolio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. Aviz Budget
    • 9.3. Hertz
    • 9.4. Enterprise Huldings
    • 9.5. Sixt
    • 9.6. Localiza
    • 9.7. Fox Rent a Car
    • 9.8. Unidas
    • 9.9. Movida
    • 9.10. eHi car services
  • Chapter No. 10: Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11: Research Methodology
    • 11.1. Research Methodology
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Type
FIG NO. 2. Market Attractiveness Analysis, By Booking Mode
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Luxury Cars Rental Market Revenue, 2016 – 2028 (USD Million)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Type, 2020 & 2028
FIG NO. 7. Global Luxury Cars Rental Market for Business, Revenue (USD Million) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Luxury Cars Rental Market for Business, By Country, 2020 & 2028
FIG NO. 9. Global Luxury Cars Rental Market for Leisure, Revenue (USD Million) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Luxury Cars Rental Market for Leisure, By Country, 2020 & 2028
FIG NO. 11. Market Revenue Share, By Booking Mode, 2020 & 2028
FIG NO. 12. Global Luxury Cars Rental Market for Online, Revenue (USD Million) 2016 – 2028
FIG NO. 13. Comparative Revenue Analysis of Luxury Cars Rental Market for Online, By Country, 2020 & 2028
FIG NO. 14. Global Luxury Cars Rental Market for Offline, Revenue (USD Million) 2016 – 2028
FIG NO. 15. Comparative Revenue Analysis of Luxury Cars Rental Market for Offline, By Country, 2020 & 2028
FIG NO. 16. Global Luxury Cars Rental Market Revenue Share, By Region, 2020 & 2028
FIG NO. 17. North America Luxury Cars Rental Market Revenue, 2016 - 2028 (USD Million)
FIG NO. 18. Porter’s Five Forces Analysis for Global Luxury Cars Rental Market
FIG NO. 19. PEST Analysis for Global Luxury Cars Rental Market
FIG NO. 20. Pricing Analysis for Global Luxury Cars Rental Market
FIG NO. 21. Value Chain Analysis for Global Luxury Cars Rental Market
FIG NO. 22. Company Share Analysis, 2019
FIG NO. 23. Radar Determinant Chart, 2019
FIG NO. 24. Company Strategic Developments – Heat Map Analysis
FIG NO. 25. Goldcar Business Segment Revenue Share, 2020 (%)
FIG NO. 26. Goldcar Geographical Segment Revenue Share, 2020 (%)
FIG NO. 27. Market Channels
FIG NO. 28. Marketing Channel Development Trend
FIG NO. 29. Growth in World Gross Product, 2008-2018
FIG NO. 30. Research Methodology – Detailed View
FIG NO. 31. Research Methodology


List of Tables

TABLE NO. 1. Global Luxury Cars Rental Market: Snapshot
TABLE NO. 2. Quarterly Luxury Cars Rental Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Luxury Cars Rental Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
TABLE NO. 6. Global Luxury Cars Rental Market for Business, by Region, 2016 – 2028 (USD Million)
TABLE NO. 7. Global Luxury Cars Rental Market for Leisure, by Region, 2016 – 2028 (USD Million)
TABLE NO. 8. Global Luxury Cars Rental Market for Online, by Region, 2016 – 2028 (USD Million)
TABLE NO. 9. Global Luxury Cars Rental Market for Offline, by Region, 2016 – 2028 (USD Million)
TABLE NO. 10. Global Luxury Cars Rental Market Revenue, By Region, 2016 – 2028 (USD Million)
TABLE NO. 11. North America Luxury Cars Rental Market Revenue, By Country, 2016 – 2028 (USD Million)
TABLE NO. 12. North America Luxury Cars Rental Market Revenue, By Type, 2016 – 2028 (USD Million)
TABLE NO. 13. North America Luxury Cars Rental Market Revenue, By Booking Mode, 2016 – 2028 (USD Million)
TABLE NO. 14. U.S. Luxury Cars Rental Market Revenue, By Type, 2016 – 2028 (USD Million)
TABLE NO. 15. U.S. Luxury Cars Rental Market Revenue, By Booking Mode, 2016 – 2028 (USD Million)
TABLE NO. 16. Canada Luxury Cars Rental Market Revenue, By Type, 2016 – 2028 (USD Million)
TABLE NO. 17. Canada Luxury Cars Rental Market Revenue, By Booking Mode, 2016 – 2028 (USD Million)
TABLE NO. 18. Mexico Luxury Cars Rental Market Revenue, By Type, 2016 – 2028 (USD Million)
TABLE NO. 19. Mexico Luxury Cars Rental Market Revenue, By Booking Mode, 2016 – 2028 (USD Million)
TABLE NO. 20. Drivers for the Luxury Cars Rental Market: Impact Analysis
TABLE NO. 21. Restraints for the Luxury Cars Rental Market: Impact Analysis
TABLE NO. 22. Major Buyers of Luxury Cars Rental
TABLE NO. 23. Distributors/Traders List of Luxury Cars Rental
TABLE NO. 24. Global Luxury Cars Rental Market, Company Market Revenue, 2016 – 2019 (USD Million)
TABLE NO. 25. Global Luxury Cars Rental Market, Company Y-o-Y Growth, 2017 – 2019 (USD Million)
 

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Luxury Cars Rental market. Zion Research has collected and analyzed key data belong to the global Luxury Cars Rental market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Luxury Cars Rental across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Luxury Cars Rental industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Luxury Cars Rental market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Vehicle rental services are relatively developed in the industrialized economies. A car rental, hire car, or car hire company gives automobiles on rent for short periods of time, generally ranging from a few hours to a few weeks. Car rental providers have a number of local branches and primarily located near airports or busy city areas. The offices or branches of car rental allow a user to hire or return a vehicle to different branches for user’s convenience. Car rental agencies also serve other services as per the industry needs, by renting vans or trucks, and in certain markets, other types of vehicles such as motorcycles or scooters may also be offered. Most of the time, car rental companies also provide value added services such as insurance, entertainment systems, GPS navigation systems, etc.

Earlier, several regulations and high-security deposit to take a vehicle on rent were major issues in the car rental industry. The market was also highly unorganized and unregulated which might hinder the growth of the market. However, presently entry of global brands into the emerging economies had a positive impact on the industry growth. The entry of established players in the market has resulted in substantial growth. Growing tourism is one of the major driving factors for car rental market around the world. The higher penetration of travelers is been noticed especially from North America and Europe region. Online booking services and facilities to return the vehicle to a location of their convenience is also attracting people to hire a car.

Global--Luxury-Cars-Rental-Market-Revenue.

The luxury cars rental market can be segmented on the basis of luxury car type as compact luxury cars, mid-size luxury cars, full-size luxury cars, luxury crossovers & minivans, and luxury SUVs. Among which compact luxury cars segment is expected to dominate the luxury cars rental market over the forecast period.

On the basis of end-users segmentation, the luxury cars rental market is classified as local usage, airport transport, outstation, and others. The luxury cars rental market can be segmented on the basis of booking mode as online and offline. Among which online segment is expected to expand at a substantial CAGR over the forecast period, attributed to increasing trend of e-commerce across the globe.

The luxury cars rental market can be segmented on the basis of booking mode as online and offline. Among which online segment is expected to expand at a substantial CAGR over the forecast period, attributed to increasing trend of e-commerce across the globe.

By geography, the luxury cars rental market is fragmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among the aforementioned regions, North America luxury cars rental market is expected to dominate the global market over the forecast period. Europe is followed by North America in terms of value share, attributed to growing tourism market and changing the luxury auto business model of automakers. Asia Pacific luxury cars rental market is expected to expand at a relatively high growth rate over the forecast period.

Some of the key players include in luxury cars rental market such as 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, and others.

The report segments the global luxury cars rental market as:

 Luxury Cars Rental Market: Luxury Cars Type Segment Analysis

  • Compact Luxury Cars
  • Mid-size Luxury Cars
  • Full-size Luxury Cars
  • Luxury Crossovers & Minivans
  • Luxury SUVs

 Luxury Cars Rental Market: End-users Segment Analysis

  • Local usage
  • Airport transport
  • Outstation
  • Others (Including self-drive, event transportation, employee transportation solutions)

Luxury Cars Rental Market: Booking Mode Segment Analysis

  • Online
  • Offline

Luxury Cars Rental Market: Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

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FrequentlyAsked Questions

The Luxury Car Rental Market was valued at USD 32.7 Billion in 2020.

The Luxury Car Rental Market is expected to reach USD 38.8 Billion by 2028, growing at a CAGR of 2.4% between 2021 to 2028.

Some of the key factors driving the Luxury Car Rental Market growth are craze towards luxury cars, weddings, occasions, and others.

North America held a substantial share of the Luxury Car Rental Market in 2020. Asia Pacific is expected to grow rapidly in the coming years.

Some of key players in Luxury Car Rental Market are Goldcar, Aviz Budget, Hertz, Enterprise Holdings, Sixt, Localiza, Fox Rent a Car, Unidas, Movida, eHi car services, among others.

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