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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 | Jun 2016

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

IBISWorld’s Car Rental market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Industry Statistics & Market Size
Revenue
$38bn
Annual Growth 11-16
2.7%
Annual Growth 16-21
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Profit
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Employment
140,280
Businesses
2,475
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

 


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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