Friday, 26 April 2024
The Europe car rental service market is expected to grow from US$ 14.17 Bn in 2018 to US$ 24.00 Bn by the year 2027. This represents a CAGR of 6.2% from the year 2019 to 2027.
The Europe car rental services market is mainly driven by the growing number of car rental services in the region as various established companies are focusing on providing the services to their customers. In addition, the growing spending power of the people and changing lifestyle are also powerful factors that are driving the growth of the Europe car rental service market in the region. Growing tourism activities and constantly rising tourism budget have supported the growth of the car rental services market.
The Europe Car Rental Service Market is growing along with the Automotive and Transportation
industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
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Several car rental companies are focusing on offering advanced technology-driven solutions to their customers with intent to offer improved customer service as well as to distinguish their services from those offered by their competitors. In October 2019, Enterprise Holdings introduced Entegral, an integrated software solution capable of simplifying the post-accident process; this product enabled service providers to get customers on their way, back into their cars. Recently, Avis added a split bill function into its app to enable travelers to split rental charges between personal and business credit cards. Hence, such significant growth is expected to offer ample growth opportunities for the Europe car rental service market players during the forecast period of 2019 to 2027.
These factors are expected to offer broad growth opportunities in the Automotive and Transportation
industry and this is expected to cause the demand for Europe Car Rental Service Market in the market.
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EUROPE CAR RENTAL SERVICE MARKET – MARKET SEGMENTATION
Europe Car Rental Service Market by Rental Location
Europe Car Rental Service Market by Car Category
Europe Car Rental Service Market by Customer Type
Europe Car Rental Service Market by Countries
Europe Car Rental Service Market – Key Companies Profiled
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