U.S. Car Rental Industry: Overview, Analysis & Forecast

U.S. Car Rental Industry: Overview, Analysis & Forecast

Market Overview

The concept of car rental is well-known all over the globe. In this concept, a car is rented out to the customer on an hourly, daily or monthly basis as per the rental agreement. This is largely practiced at tourist destination places, where travellers come to explore the city or country. North America and Europe are the major regions where the car rental industry is prominent; this is because these areas are full of many nearby located tourist destinations and also tourists visit throughout the year from all over the globe who need a mode of the transport to cover all destinations. Rental cars are available in both airport and downtown locations. The reason for renting a car differs as per the occasion and agenda of the passenger. Customers can choose different types of cars as per their convenience ranging from luxury cars, executive cars, SUVs, MUVs to economy cars. The passengers can rent the cars through offline channels by visiting the car rental outlets or can avail car rental facilities through online channels. The business travellers who travel for work normally have a tendency to lean towards SUVs or sedans and passengers who travel for pleasure choose luxury and high-end vehicles. Broadly passengers of the car rental industry in the U.S are categorised into business, leisure, insurance replacement and airport, non-airport segments.

U.S. Car Rental Industry: Drivers and Opportunity Areas

Largely, factors such as easy booking of rental cars through online channels, increasing globalisation of corporate operations, growth in the travel and tourism domain, growth in air travel, and a shift in customer preference towards comfort travelling are influencing the growth of the U.S. car rental industry. Moreover, the growth in the number of national and international events is also triggering the demand for car rental services in the US. Among all types of passengers, tourists from other regions especially Asia Pacific are more inclined towards renting a car to travel within the country. The U.S car rental industry is very dynamic because of numerous small and big vendors operating their car rental business in this industry. Hence they focus on innovation to adhere to a new customer base. Also, they are coming up with several schemes and offers to retain their old customers and tap into new customer segments. Tremendous opportunity for vendors in the U.S car rental industry is encountered especially in densely populated areas such as Washington DC, New York, and other key cities.

U.S. Car Rental Industry: Trends

There is a growing trend among vendors of the U.S car rental industry to maintain strategic alliances with hotels and airlines. Although this is done with the intention to retain their competitive advantages over other key industry players, this strategy is becoming a big trend today. Even tourists especially newlyweds and business tycoons prefer renting a car over using public means of transport to travel within the U.S. 

U.S. Car Rental Industry: Key Players

There are many rental car vendors available across the US. Avis Budget Group (includes Payless) and Hertz Global Holdings (includes Firefly, Dollar Thrifty Automotive Group) are the leading players with majority market share in the U.S. car rental industry. Some of the other notable players include Fox Rent A Car, Enterprise-Rent-A-Car Holdings (includes Enterprise Rent-A-Car, National Car Rental, Alamo Rent A Car), U-Save Auto Rental System (ownership of FSNA), ACE Rent A Car, and International Franchise Systems (Next Car, Rent-A-Wreck of America, and Priceless).

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report. 

The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.

What Can Readers Expect from this Report?

  • An overview of the sector, including the key factors that have shaped patterns and demand
  • Not just data, but insights that you can incorporate in your strategic decision making
  • Nuanced underlying factors that influence consumer behaviour
  • Data points to understand the past, analyse the present, and project the future
  • Trends that will impact the sector in the short- and long-term
  • Deeper understanding of the target audience, their motivations, aspirations, and expectations from service providers

Us Car Rental Industry Overview Analysis And Forecast

Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

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Us Car Rental Industry Overview Analysis And Forecast