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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 | Feb 2015

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
$38bn
Annual Growth 10-15
3.2%
Annual Growth 15-20
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Profit
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Employment
110,032
Businesses
2,380
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 Key Buyers Chapter

The Car Rental industry has a high level of market share concentration, with the industry's four largest companies expected to generate over 70.0% of industry revenue. Industry concentration has increased over the past five years, primarily as a result of a string of mergers and acquisitions by the industry's major companies. For example, Hertz acquired Advantage Rent a Car in April 2009 (though they later divested the brand) and Dollar Thrifty in 2012. Avis Budget Group purchased Payless Car Rental in July 2013, which was then the sixth biggest car rental company in North America with 120 retail locations and generating $80.0 million in annual revenue. The big three companies also snapped up two independent car sharing companies in the past five years... 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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