The US Car Rental Market consists of different international, regional, and local vendors. The market competition is foreseen to grow higher with the rise in technological innovation and M&A activities in the future. Moreover, many local and regional vendors are offering specific application products for varied end-users. The new vendor entrants in the market are finding it hard to compete with the international vendors based on quality, reliability, and innovations in technology.
Car rental is a service in which cars are provided on rent to people who do not have access to their own cars, so that they can gain access to a car especially while travelling or during repair. Car rental companies rent automobiles for a short time span, ranging from few hours to few weeks. It assists people with temporary vehicle needs, who do not have their own vehicles or want to travel out-of-town or have damaged vehicle or waiting for fix/insurance compensation. These agencies also offer additional products like insurance, GPS navigation systems, music systems, Wi-Fi and child safety seats.
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The conditions for renting rental cars in the U.S. differ from company to company. Customer can rent a car online by visiting their website online, selecting a car they want on rent, selecting destination of pick up and drop off. An online payment facility is also provided to the customers. .
he U.S. car rental market is highly consolidated where the top three players accounted for majority of the of the market share. Also, the consolidation may increase in coming years as large firms acquire local firms to expand their portfolio of premium and value brands.
The key factors driving growth of car rental market in the U.S. includes increasing travel expenditure, increasing tourist visits, growing urban population, rising internet penetration, rising population of HNWIs, growing economy, increasing air traffic, rising disposable income and increasing trend of leisure travel. The key trends and development of this market includes introduction of new technologies and increasing autonomous cars in the U.S. However, there are some factors that hinder growth of this market including high number of off-lease vehicles, growth of ride sharing market, over fleeting and heavy capital requirement in the market.
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
The report U.S. Car Rental Market: Industry Analysis & Outlook (2017-2021)� by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. The report discusses the major growth drivers and challenges of the market, covering U.S. market along with the US market. The report profiles the key players of the market including Enterprise Holdings, Hertz US Holding and Avis Budget Group.
The research includes historic data which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs. The report will make detailed analysis mainly on above questions and in-depth research on the development environment, market size, development trend, operation situation and future development trend of Car Rental on the basis of stating current situation of the industry in 2017 so as to make comprehensive organization and judgment on the competition situation and development trend of Car Rental Market and assist manufacturers and investment organization to better grasp the development course of Car Rental Market.
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