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Car Rental in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Car Rental Market Research Report | NAICS 53211 | Oct 2014

Driving force: Revived domestic air travel will support modest industry growth for car rentals

IBISWorld’s Car Rental market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Industry Statistics & Market Size
Revenue
$36bn
Annual Growth 09-14
3.1%
Annual Growth 14-19
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Profit
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Employment
128,535
Businesses
2,436
Industry Analysis & Industry Trends

The global recession put the brakes on the industry, but a revival in demand for air travel will stimulate growth again. Rising personal incomes and more generous corporate travel budgets will underpin growth from this market; however, rising fuel prices and the corresponding increase in ticket prices threaten that forecast. Still, the industry is forecast to pick up speed as operators implement new strategies and look to focus on ride sharing, a growing service segment in the industry... purchase to read more

Industry Report - Industry Analysis Chapter

The Car Rental industry has changed gears over the past five years, after the recession forced it into reverse. Since 2009, the unemployment rate has slowly improved, incomes have risen and consumers have begun spending again. More importantly, consumers have been spending more on leisure activities, such as domestic travel. Additionally, corporate profit is currently at an all-time high, growing an impressive 8.9% per year on average over the five years to 2014, leading to a spike in business travel. These trends have been important drivers for the industry's turnaround since 2009, as air travelers are the industry's primary market (a large portion of rental cars are picked up after flights at airport locations)... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Car Rental Industry?

Operators in this industry rent or lease passenger cars to customers. Car rentals typically last a short time (30 days or fewer) while leasing agreements are for longer (12 months or more). The industry excludes the rental or leasing of cars with drivers.

Industry Products
Leisure car rentalBusiness car rentalCar leasingCar sharing
 
Industry Activities
Passenger car rentalPassenger car leasing


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