Industry Analysis & Industry Trends
The Car Rental industry has changed gears over the past five years, growing strongly after being forced into reverse during the recession. Given that air travelers represent the industry's primary market, growth in air travel over the past five years has been most important in driving revenue expansion. Moreover, the industry is anticipated to continue growing through 2021, driven by an increase in the number of air travelers, rising per capita income and rising corporate profit. The industry's largest companies are expected to retain their competitive advantages over smaller players, such as maintaining strategic alliances with airlines and hotels... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Car Rental industry is in the mature stage of its life cycle. Over the 10 years to 2021, industry value added, which measures an industry's contribution to GDP, is expected to grow at an annualized rate of 2.5%. Comparatively, US GDP is forecast to grow at an annualized rate of 2.1% over the same period of time. IVA growth similar to that of GDP is an indicator of an industry in the mature stage of its life cycle.
New technologies, such as online reservations and self-service kiosks, provide advantages like reduced customer acquisition costs. But these advantages flow on to existing companies and do not produce new entrants or new markets. Some companies are expanding into local markets with programs like car sharing... purchase to read more