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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 | Jan 2016

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

IBISWorld’s Car Rental market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Industry Statistics & Market Size
Revenue
$43bn
Annual Growth 11-16
5.2%
Annual Growth 16-21
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Profit
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Employment
134,732
Businesses
2,907
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 - Starting a New Business Chapter

Fleet investment

Rental fleet investment is a significant capital outlay. For example, Hertz and Avis Budget both spent substantial amounts on car purchases over the past five years. Even if small companies do not spend as much on their fleet as the largest companies do, the companies still need to invest in fleet maintenance and fleet storage, and they need to operate and staff a rental location.

Brand recognition

The major companies enjoy strong brand recognition. Brand recognition eases customer acquisition and can stimulate repeat business if a customer associates a given brand with a good rental experience. Potential new entrants would have difficulty establishing a brand identity because the current brands are heavily entrenched... 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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