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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 | Jul 2014

Ride sharing: Revived domestic air travel will support modest 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
$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 firms implement new strategies and look to focus on ride sharing, a growing service segment in the industry... 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 2019, industry value added, which measures an industry's contribution to GDP, is expected to grow an average of 3.1% per year. In comparison, GDP is set to grow an annualized 2.5% over the same period. Therefore, the industry is growing at slightly slower rate than the economy, indicating that the industry is mature.

New technologies, such as online reservations, 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?

Companies 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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