U.K. Car Rental Market
Market Insights on U.K. Car Rental covering sales outlook, demand forecast & up-to-date key trends
U.K. Car Rental Market by Car Type, Premium Cars, End Use, Booking Mode, Sector & Region - Forecast 2022 – 2032
U.K. Car Rental Market Snapshot (2022-2032)
[200 Pages Report] As per newly released data by Future Market Insights (FMI), the U.K. car rental market is estimated at US$ 3,203.4 Mn in 2022 and is projected to reach US$ 5,545.1 Mn by 2032, at a CAGR of 5.6% from 2022 to 2032. The growth in the market can be attributed to the increasing preference of population for safe, easy, luxurious, and budget-friendly travel through different car rental services offered in the market.
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Attribute |
Details |
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Estimated U.K. Car Rental Market Size 2022 |
US$ 3,203.4 Mn |
|
Projected U.K. Car Rental (2032) Market Size |
US$ 5,545.1 Mn |
|
Value CAGR (2022-2032) |
5.6% |
|
U.K. Car Rental Market Top Players Share in 2021 |
15%-20% |
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Key Points Covered in U.K. Car Rental Market Survey
- Market estimates and forecast 2022-2032
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on U.K. Car Rental Market and How to Navigate
- Recommendation on Key Winning Strategies
2017-2021 U.K. Car Rental Market Outlook Compared to 2022-2032 Forecast
Over time, the car rental industry has grown significantly as a critical vertical in the transportation industry, benefiting not only customers and rental companies, but also automobile manufacturers. Automobile manufacturers have invented attractive programs, such as automobile leasing, that allow small firms to expand their fleet size without incurring significant financial costs.
Economic growth, a surge in the usage of luxury automobiles by corporations on business trips, and an expanding tourism industry are some of the key causes for the entire car rental market. People are willing to spend more money in order to spend more time with their families, and this trend will be a major contributor in future market growth.
How are Rising On-Airport Car Usage Boosting the Demand for U.K. Car Rentals?
The expansion of the Europe automobile rental market is mostly driven by rising tourism, particularly travelers who travel for business and pleasure. As tourism grows, so does demand for automobile rental services, as renting a car is one of the most popular forms of transportation for both business and pleasure.
Furthermore, because airports are typically located outside of cities, there is a greater need for automobile rental services to facilitate travel. Car rental services are frequently used by business travelers since they provide greater comfort and allow for speedier transportation and such factors are boosting the market for U.K. car rental market.
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Talk to AnalystHow are Multi-national Players Faring in the U.K. Car Rental Market?
The U.K. car rental market has large number of multinational companies with vast service offerings and strategized services according to the regional trends with efficient fulfilment ability towards better car rental services over most of the local players present in the area, thereby attracting large consumer base, which in turn will boost the market for car rental in the U.K. region.
Moreover, the perception of customers towards multi-national businesses has observed a positive growth trend and are opting for such established brands in the international market. The reputation plays an important role in the service industry and thus, the multi-national companies have gained a huge consumer base in the U.K. car rental market.
Country Insight
What are the Implications of Government Initiatives in the U.K. Car Rentals Market?
The U.K. government has taken many steps to improve the service industry's efficiency. This includes rules that are implemented in the national interest or local development. For instance, in 2020, U.K. took another historic step on the road to ending its contribution to climate change while boosting jobs in the process, as the Prime Minister, Transport Secretary and Business Secretary announced the end of the sale of new petrol and diesel cars in the U.K. by 2030. This will put the U.K. on course to be the fastest G7 country to decarbonize cars and vans. .
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Category-wise Insights
What are the reasons for Economy Cars to Emerge as Preferred Car Type in the U.K. Car Rental Market?
In the U.K. automobile rental market, economy cars are the most popular means of transportation. Economy automobile rental services provide less expensive rides that are accessible to the general public. Customers on business and pleasure vacations, on the other hand, prefer luxury and premium automobile rental services. The bulk of riders or consumers, on the other hand, prefer economical cars. Customers with a pre-determined mindset for a less expensive ride are likewise attracted to the sharing/pooling notion.
These considerations, together with the high availability of such vehicles, are driving up demand for economy cars in the U.K. car rental market. Customers have adopted earth-friendly products and services as their awareness of health and the environment has grown. Concerns about pollution have prompted environmentally minded passengers to use shared cabs or auto rental services to decrease emissions, lowering air pollution levels and reducing the number of cars on the road.
Which type of End Use Segment in U.K. Car Rental Dominates the Market?
On the basis of End Use, on-airport type U.K. car rental is estimated as the leading segment amongst end use. This might be due to the high number of tourist arrivals in the regions as well as greater use of local population for travelling purposes by airplane as the highly preferred mode of transport.
What type of Booking Mode is the Most Prominent Channel through Forecast Period?
Because of the ease of booking and availability through online platforms, car rental has become very popular all over the U.K. Tourists prefer to use an online booking or mobile application platform since it allows for a simple, hassle-free money transfer via digital payment, as well as live tracking and better security.
In the car rental sector, the growing number of smartphone users and internet penetration play a critical role. Online platforms are preferred by daily commuters to book shared cabs for workplace commutes or city rides. Enterprise is one of the firms that provides a ride-sharing service, which is becoming increasingly popular throughout the region.
Which Sector Holds the Maximum Share in the U.K. Car Rentals Market?
On the basis of sector the organized segment holds the maximum share in the U.K. car rentals market owing to the strict rules implemented by the regional government. Moreover, the prominence of mobile application pushes the respective market to be operated as per government and organizations setup rules. Such factors is boosting the regional organized market in the U.K., and is anticipated to be the significant segment in the growth of U.K. car rental market
Competitive Landscape
Leading players operating in the regional market are focusing on various service offerings, partnerships, promotional activities, and other strategies in order to expand their business. Moreover, the greater implementation of the usage of U.K. car rentals in intra-city sector is likely to expand the customer base and boost the market.
Scope of Report
|
Attribute |
Details |
|
Forecast Period |
2022-2032 |
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Historical Data Available for |
2017-2021 |
|
Market Analysis |
USD Million for Value |
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Key Region Covered |
Europe |
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Key Country Covered |
U.K. |
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Key Segments Covered |
Car Type, End Use, Sector, Booking Mode, and Country |
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Key Companies Profiled |
|
|
Report Coverage |
Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
|
Customization & Pricing |
Available upon Request |
U.K. Car Rental Market by Category
By Car Type:
- Economy Cars
- Compact Cars
- Intermediate Cars
- Premium Cars
- Luxury Cars
- Others
By End Use:
- Intercity
- Intra-city
- On-Airport
- Others
By Booking Mode:
- Offline Access
- Mobile Application
- Other Internet Access
By Sector:
- Organized
- Unorganized
Frequently Asked Questions
The U.K. car rental market reached a valuation of US$ 3,040.2 Mn in 2021.
The U.K. car rental market grew at a 4.2% CAGR between 2017 and 2021.
Leading players operating in the U.K. car rental market comprise Alamo Rent a Car, Enterprise Rent-A-Car, SP AutoReisen Rent a Car SL, Avis Rent A Car System, LLC, Cicar, Thrifty Car Rental, and Dollar Rent A Car, Inc. among others.
Table of Content
1. Executive Summary
1.1. Car Rental Market Outlook
1.2. Summary of Key Statistics
1.3. Summary of Key Findings
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Scope
3. The 2020 Market Size of Car Rental Market
3.1. Previous forecast
3.2. Quarter by Quarter forecast, 2020
3.3. Optimistic And Pessimistic Scenario, 2020
3.4. Projected Recovery Quarter
3.5. Safety Measures And Cost
3.6. Impact On Various End Users
3.7. Change In Market Size by –
3.7.1. Countries
3.7.2. Price
4. Key Market Trends
4.1. Key Trends Impacting the Market
4.1.1. Increasing Deployment of Car Rental Market
4.1.2. Technology Advancement In Car Type
4.1.3. Soaring Demand of Sharing Car Rental Services
4.1.4. Impact of Smartphone Sales In Car Rental Market
4.1.5. New Technologies Have Shaped Consumer Expectations
4.1.6. Internet Statistics & Impact Assessment
4.1.7. Electric Adoption Is Set To Surge
4.2. Product Innovation Trends
4.2.1. Car Technologies In Current & Future
4.2.2. Area of Focus- Car Type Offering
4.2.3. Preferred Mode of Booking & Booking Pattern
4.2.3.1. Offline Access
4.2.3.2. Online Access
5. Key Success Factors
5.1. Factors Impacting The Market –
5.1.1. New Service offering
5.1.2. Car Sharing Concept
5.1.3. New Car Launches
5.1.4. Environment Concern of Population
5.1.5. Government Initiatives
5.2. Strategic Promotional Strategies
6. Introduction of Vehicle Subscription
6.1. Summary of Key Statistics
6.2. Vehicle Subscription Ecosystem
6.3. Current and Future Vehicle Subscription Program Offerings
6.4. Vehicle Subscription Forecast Analysis
6.5. OEM Vehicle Subscription Program Evolution
6.6. Vehicle Subscription by Regions
6.7. The Vehicle Subscription Business Model
6.7.1. An Evolving Mobility Landscape
6.7.2. OEM Vehicle Subscription Service Offerings
6.7.3. Third-Party Subscription Offerings
6.7.4. Managing the Traditional Channel
6.7.5. Courting Millennials
6.7.6. Building the New and Used Cars Fleet Mix
6.8. The Future of Car Ownership
6.8.1. Key Takeaways
6.8.2. Usership v/s Ownership
6.8.3. A Growing Spectrum of Usership Models
6.8.3.1. HP, PCP, and PCH
6.8.3.2. Leasing / Subscription
6.8.3.3. Outright purchase
6.8.3.4. Car Sharing
6.8.3.5. Car Rental
6.8.3.6. Driver services
6.8.3.7. Ride sharing
6.8.4. Key Drivers For Alternative Access Models
7. Consumer Sentiment Analysis
7.1. Number of Business - In the Car Rental Industry in the Europe
7.2. How Many 2+ Day Trips By Premium Travelers Per Year (2019)?
7.2.1. Frequency of Trip (% of Demand)
7.2.1.1. Weekly
7.2.1.2. Monthly
7.2.1.3. Once a Year
7.3. Average Fleet Size In Service, in UK by Rental Car Operator, 2019
7.3.1. Sedan
7.3.2. SUV
7.3.3. Van
7.3.4. Truck
7.4. Top 50 UK Airports By Business Traveler Rental
7.4.1. Which Specific feet type is Preferred by the Consumers and Why?
7.4.2. Factors Influencing Market Behaviour?
7.4.3. The Seasonality of Premium Business Travelers?
7.4.4. Travel Choices by Month?
7.4.5. Approximate Duration of the Rental Period?
7.4.5.1. Less Than 1 Day
7.4.5.2. 1 Day
7.4.5.3. 2-3 Days
7.4.5.4. 4-5 Days
7.4.5.5. 6-7 Days
7.4.5.6. 15 Days
7.4.5.7. Longer Than 1 Month
7.4.6. The Utilization Rates by Top Premium Brands?
7.4.7. Are Consumers Ready To Pay Premium Price For Service?
7.4.8. Popular Premium “Mobility Options”
7.4.8.1. By Transportation Type
7.4.8.1.1. Rideshare
7.4.8.1.2. Train
7.4.8.1.3. Bus
7.4.8.1.4. Rental Care
7.4.8.1.5. Others
7.4.8.2. By End Use
7.4.8.2.1. On Airport
7.4.8.2.2. Off-Airport
7.4.9. Approximate Distance Travelled of the Rental Period?
7.4.10. How Many Premium Business Travellers Prefer Combo Bookings i.e. air+car Booking?
7.5. Does Social Media Influence Customer’s Decision Making?
7.6. Which Mode of Advertisement Does Vendors Prefer?
7.7. Which of The Social Media Platforms Does Companies Prefers For Branding?
7.8. What Are The Key Challenges Associated With The Market Suppliers?
7.9. Others (During the course of the study)
8. U.K. Car Rental Market Demand (in Value or Size in US$ Mn) Analysis 2017-2021 and Forecast 2022–2032
8.1. Historical Market Value (US$ Mn) Analysis, 2017-2021
8.2. Current and Future Market Value (US$ Mn) Projections, 2022–2032
8.2.1. Y-o-Y Growth Trend Analysis
8.2.2. Absolute $ Opportunity Analysis
9. Market Background
9.1. Europe Car Rental Market Overview & Statistics, 2021
9.2. Europe Car Production & Sales Overview
9.3. Europe Tourism Industry Impact & Overview
9.4. Current Dealer Economics Outlook
9.5. Macro-Economic Factors
9.5.1. GDP Growth Outlook
9.5.2. Urbanization Growth Matrix
9.5.3. Per Capita Disposable Income
9.5.4. Population Growth Outlook
9.5.5. Government Program for Car Sharing Services
9.6. Forecast Factors - Relevance & Impact
9.6.1. Top Companies Historical Growth
9.6.2. Population Outlook
9.6.3. Tourist Arrival Outlook
9.6.4. Urbanization Outlook
9.6.5. Internet Market Outlook
9.6.6. Smartphone Market Overview
9.7. Market Dynamics
9.7.1. Drivers
9.7.2. Restraints
9.7.3. Opportunity Analysis
10. U.K. Car Rental Market Analysis 2017-2021 and Forecast 2022–2032, By Car Type
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Mn) Analysis By Car Type, 2017-2021
10.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Car Type, 2022–2032
10.3.1. Economy Cars
10.3.2. Compact Cars
10.3.3. Intermediate Cars
10.3.4. Premium Cars
10.3.5. Luxury Cars
10.3.6. Others
10.4. Market Attractiveness Analysis By Car Type
11. U.K. Car Rental Market Analysis 2017-2021 and Forecast 2022–2032, By End-Use
11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ Mn) Analysis By End-Use, 2017-2021
11.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By End-Use, 2022–2032
11.3.1. Intercity
11.3.2. Intracity
11.3.3. On-Airport
11.3.4. Others
11.4. Market Attractiveness Analysis By End-Use
12. U.K. Car Rental Market Analysis 2017-2021 and Forecast 2022–2032, by Booking Mode
12.1. Introduction / Key Findings
12.2. Historical Market Size (US$ Mn) Analysis By Booking Mode, 2017-2021
12.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Booking Mode, 2022–2032
12.3.1. Offline Access
12.3.2. Mobile Application
12.3.3. Other Internet Access
12.4. Market Attractiveness Analysis By Booking Mode
13. U.K. Car Rental Market Analysis 2017-2021 and Forecast 2022–2032, by Sector
13.1. Introduction / Key Findings
13.2. Historical Market Size (US$ Mn) Analysis By Booking Mode, 2017-2021
13.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Booking Mode, 2022–2032
13.3.1. Organised
13.3.2. Unorganised
13.4. Market Attractiveness Analysis By Booking Mode
14. Market Structure Analysis
14.1. Market Analysis by Tier of Companies (Car Rental)
14.2. Market Concentration
14.3. Market Share Analysis of Top Players
14.4. Market Presence Analysis
14.4.1. By Regional Foot Print of Players
14.4.2. Channel Foot Print by Players
15. Competition Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Competition Deep Dive
15.3.1. The Hertz Corporation
15.3.1.1. Overview
15.3.1.2. Service Offering
15.3.1.3. Fleet Type (Sedan, SUV, Van, Truck, Others)
15.3.1.4. Market Footprint
15.3.1.5. Strategy Overview
15.3.1.5.1. Marketing Strategy
15.3.1.5.2. Product/Service Strategy
15.3.1.5.3. Channel Strategy
15.3.2. Alamo Rent a Car
15.3.2.1. Overview
15.3.2.2. Service Offering
15.3.2.3. Fleet Type (Sedan, SUV, Van, Truck, Others)
15.3.2.4. Market Footprint
15.3.2.5. Strategy Overview
15.3.2.5.1. Marketing Strategy
15.3.2.5.2. Product/Service Strategy
15.3.2.5.3. Channel Strategy
15.3.3. Enterprise Rent-A-Car
15.3.3.1. Overview
15.3.3.2. Service Offering
15.3.3.3. Fleet Type (Sedan, SUV, Van, Truck, Others)
15.3.3.4. Market Footprint
15.3.3.5. Strategy Overview
15.3.3.5.1. Marketing Strategy
15.3.3.5.2. Product/Service Strategy
15.3.3.5.3. Channel Strategy
15.3.4. SP AutoReisen Rent a Car SL
15.3.4.1. Overview
15.3.4.2. Service Offering
15.3.4.3. Fleet Type (Sedan, SUV, Van, Truck, Others)
15.3.4.4. Market Footprint
15.3.4.5. Strategy Overview
15.3.4.5.1. Marketing Strategy
15.3.4.5.2. Product/Service Strategy
15.3.4.5.3. Channel Strategy
15.3.5. Avis Rent A Car System, LLC
15.3.5.1. Overview
15.3.5.2. Service Offering
15.3.5.3. Fleet Type (Sedan, SUV, Van, Truck, Others)
15.3.5.4. Market Footprint
15.3.5.5. Strategy Overview
15.3.5.5.1. Marketing Strategy
15.3.5.5.2. Product/Service Strategy
15.3.5.5.3. Channel Strategy
15.3.6. Cicar
15.3.6.1. Overview
15.3.6.2. Service Offering
15.3.6.3. Fleet Type (Sedan, SUV, Van, Truck, Others)
15.3.6.4. Market Footprint
15.3.6.5. Strategy Overview
15.3.6.5.1. Marketing Strategy
15.3.6.5.2. Product/Service Strategy
15.3.6.5.3. Channel Strategy
15.3.7. Thrifty Car Rental
15.3.7.1. Overview
15.3.7.2. Service Offering
15.3.7.3. Fleet Type (Sedan, SUV, Van, Truck, Others)
15.3.7.4. Market Footprint
15.3.7.5. Strategy Overview
15.3.7.5.1. Marketing Strategy
15.3.7.5.2. Product/Service Strategy
15.3.7.5.3. Channel Strategy
15.3.8. Dollar Rent A Car, Inc.
15.3.8.1. Overview
15.3.8.2. Service Offering
15.3.8.3. Fleet Type (Sedan, SUV, Van, Truck, Others)
15.3.8.4. Market Footprint
15.3.8.5. Strategy Overview
15.3.8.5.1. Marketing Strategy
15.3.8.5.2. Product/Service Strategy
15.3.8.5.3. Channel Strategy
15.3.9. Europcar Mobility Group
15.3.9.1. Overview
15.3.9.2. Service Offering
15.3.9.3. Fleet Type (Sedan, SUV, Van, Truck, Others)
15.3.9.4. Market Footprint
15.3.9.5. Strategy Overview
15.3.9.5.1. Marketing Strategy
15.3.9.5.2. Product/Service Strategy
15.3.9.5.3. Channel Strategy
15.3.10. Budget Rent a Car System, Inc.
15.3.10.1. Overview
15.3.10.2. Service Offering
15.3.10.3. Fleet Type (Sedan, SUV, Van, Truck, Others)
15.3.10.4. Market Footprint
15.3.10.5. Strategy Overview
15.3.10.5.1. Marketing Strategy
15.3.10.5.2. Product/Service Strategy
15.3.10.5.3. Channel Strategy
15.3.11. Lojas Centauro
15.3.11.1. Overview
15.3.11.2. Service Offering
15.3.11.3. Fleet Type (Sedan, SUV, Van, Truck, Others)
15.3.11.4. Market Footprint
15.3.11.5. Strategy Overview
15.3.11.5.1. Marketing Strategy
15.3.11.5.2. Product/Service Strategy
15.3.11.5.3. Channel Strategy
15.3.12. Sixt SE
15.3.12.1. Overview
15.3.12.2. Service Offering
15.3.12.3. Fleet Type (Sedan, SUV, Van, Truck, Others)
15.3.12.4. Market Footprint
15.3.12.5. Strategy Overview
15.3.12.5.1. Marketing Strategy
15.3.12.5.2. Product/Service Strategy
15.3.12.5.3. Channel Strategy
15.3.13. Goldcar
15.3.13.1. Overview
15.3.13.2. Service Offering
15.3.13.3. Fleet Type (Sedan, SUV, Van, Truck, Others)
15.3.13.4. Market Footprint
15.3.13.5. Strategy Overview
15.3.13.5.1. Marketing Strategy
15.3.13.5.2. Product/Service Strategy
15.3.13.5.3. Channel Strategy
15.3.14. Burnt Tree Vehicle Rental
15.3.14.1. Overview
15.3.14.2. Service Offering
15.3.14.3. Fleet Type (Sedan, SUV, Van, Truck, Others)
15.3.14.4. Market Footprint
15.3.14.5. Strategy Overview
15.3.14.5.1. Marketing Strategy
15.3.14.5.2. Product/Service Strategy
15.3.14.5.3. Channel Strategy
15.3.15. Salford Car & Van Rental
15.3.15.1. Overview
15.3.15.2. Service Offering
15.3.15.3. Fleet Type (Sedan, SUV, Van, Truck, Others)
15.3.15.4. Market Footprint
15.3.15.5. Strategy Overview
15.3.15.5.1. Marketing Strategy
15.3.15.5.2. Product/Service Strategy
15.3.15.5.3. Channel Strategy
15.3.16. Others (As Per Request)
16. Assumptions and Acronyms Used
17. Research Methodology
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List of Tables
Table 01: U.K. Car Rental Market Value (US$ Mn) Forecast, By Car Type, 2017–2032
Table 02: U.K. Car Rental Market Value (US$ Mn) Forecast, By End Use, 2017–2032
Table 03: U.K. Car Rental Market Value (US$ Mn) Forecast, By Booking Mode, 2017–2032
Table 04: U.K. Car Rental Market Value (US$ Mn) Forecast, By Sector, 2017–2032
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Figure 01: U.K. Car Rental Market Value (US$ Mn), 2017-2021
Figure 02: U.K. Car Rental Market Absolute $ Opportunity Value (US$ Mn), 2022-2032
Figure 03: U.K. Car Rental Market Value (US$ Mn) Forecast, 2022-2032
Figure 04: U.K. Car Rental Market Share and BPS Analysis by Car Type, 2022 & 2032
Figure 05: U.K. Car Rental Market Y-o-Y Growth (%) Projections by Car Type, 2022-2032
Figure 06: U.K. Car Rental Market Attractiveness by Car Type, 2022-2032
Figure 07: U.K. Car Rental Market Share and BPS Analysis by End Use, 2022 & 2032
Figure 08: U.K. Car Rental Market Y-o-Y Growth (%) Projections by End Use, 2022-2032
Figure 09: U.K. Car Rental Market Attractiveness by End Use, 2022-2032
Figure 10: U.K. Car Rental Market Share and BPS Analysis by Booking Mode, 2022 & 2032
Figure 11: U.K. Car Rental Market Y-o-Y Growth (%) Projections by Booking Mode, 2022-2032
Figure 12: U.K. Car Rental Market Attractiveness by Booking Mode, 2022-2032
Figure 13: U.K. Car Rental Market Share and BPS Analysis by Sector, 2022 & 2032
Figure 14: U.K. Car Rental Market Y-o-Y Growth (%) Projections by Sector, 2022-2032
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