Europe Vehicle Rental Market Share, Size Global Opportunity Assessment , Emerging Technologies, Sales Revenue, Key Players Analysis, Development Status and Industry Expansion Strategies 2023
Posted on Dec 14 2021 7:47 AM
"Europe Vehicle Rental Market Report also covers qualitative analysis on the market, by incorporating complete pricing and cost analysis of components & products, Porter's analysis and PEST (Political, Economic, Social & Technological factor) analysis of the market. The report also profiles all major companies active in this field. "
Global Europe Vehicle Rental Market provides deep Information by vendors, including company overview, company total revenue (financials), market potential, global presence, Europe Vehicle Rental sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch. this study provides the Europe Vehicle Rental sales, revenue and market share for each player covered in this report. Europe Vehicle Rental market is split by Type and by Application. The growth among segments provide accurate calculations and forecasts for sales by Type and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
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Europe Vehicle Rental Market report features basic market situations, Product limit, consumption volume, and limit applications. Moreover, the report illuminates the SWOT analysis that should be done by the customers so as to know the Strength, Weaknesses, Opportunities, and Threats of the Europe Vehicle Rental industry. It likewise centers around venture practicability investigation, speculation return analysis and different ways to deal with the addition a considerable position in the Europe Vehicle Rental Market.The Europe Vehicle Rental Market report also covers a detailed comprehension of the major geographies present in the market along with the key segments and sub-segments.
The report focuses on regional development status, which includes the market size, share, and volume. The Europe Vehicle Rental Market report presents some of the key data, which would help the stakeholders in the industry besides the analysts and business decision makers. Production, consumption, cost, gross margin, revenue, market share and factors influencing market and CAGR has found its place in the report.
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In light of the strong competitive scenario in Europe, the vehicle rental market is expected to grow at a CAGR of around 6% during the forecast period. The market accounted for USD 14.8 billion in 2017.
Companies in Europe have already risen close to USD 50 billion from IPOs (compared to around USD 32 billion in the U.S.) in 2016, with investors confident of the growth potential in the region. European cars are rented for a 24-hour period, usually with a 59-minute grace period. However, vehicles are most economical when rented for a week, or for a duration of more than five days with unlimited mileage.
Some of the factors driving the growth of the vehicle rental market in Europe are the rising number of foreign visitors in countries such as Germany and the United Kingdom. Increase in population as well as resurging economic sentiment is also helping the market register a healthy growth rate.
As a consequence of the vehicle emission scandal of Volkswagen, the residual values of diesel vehicles (and not just Volkswagen Group vehicles) are bound to weaken to some extent in Europe. The vehicle rental companies would thereby face higher costs to finance their fleet purchases because of higher TCO (for other alternative vehicles) and these costs will either be passed on to consumers or simply erode profits. As a noted fact, Volkswagen constituted one of the major vehicle brands in the fleet portfolio of the vehicle rental service providers (especially for Europcar). Hence, the vehicle emission scandal has had a significant impact on the cost structure model of these companies.
Europcar, a leading player in Europeâ€™s vehicle rental market, made a major move by launching a new brand InterRent in 2013 and entering into a partnership with the US car rental provider, Advantage. The company also made a strategic acquisition of a majority stake in Ubeeqo, a French startup specializing in car sharing. The vehicle rental market in the region has undergone a lot of mergers and acquisitions, making the top 5 players contribute around 70% of the market. Most of the big-time US rental agencies have their presence in the market throughout Europe. These companies are among the most demanded ones in the region, due to their presence throughout Europe and readily available vehicles in nearly all the areas.
The market is segmented on the basis of booking type offline access, mobile application, other online access; vehicle type- small and medium, premium and luxury, vans and trucks, buses, motorhomes and others; application purpose leisure/tourism, business, and others; engine type- gasoline, electric vehicles, hybrid vehicles and others; end users- fleet operators, tour operators, governments; and country- Germany, Italy, Portugal, the UK, Spain, France and others.
Vehicles with manual transmissions are more easily available for rent than the automatic ones. Automatics are generally more expensive (usually by about 45%-55%) and are available only when there is a demand for a bigger, expensive vehicle (SUV). Among the vehicle types, compact cars are the more demanded vehicles compared to large SUV models, since maneuverability on the narrow, winding roads of Europe is an issue with these models. In addition, vehicle rental for the purpose of airport pickups generates more revenue in the European market than that for downtown trips.
The UK had the maximum share in the Europe vehicle rental market by the end of 2017. France is the second-largest market in the region, with increased demand for vehicles for leisure and tourism purposes. The market has evolved over the years to emerge as one of the most developed markets in the region. According to a press conference with CNPA, (the car rental branch of the trade association of cars and related activities in France), the number of car rental transactions increased by 9% in 2015, with further growth recorded in 2016-17. The market for car sharing in Germany has also shown a booming trend over the last 2 years and is further expected to continue growing during the forecast period. The sharing of operating and maintenance costs reduces the burden significantly among the consumers in a vehicle rental system and is one of the primary reasons for the growth inclination of the German market.
Major players: AUTOLIV, AVIS BUDGET, EUROPCAR, HERTZ GROUP, PEUGEOT OPEN-EUROPE amongst others.
Reasons to Purchase this Report:
The report analyses how the economic scenario will affect the Europe vehicle rental market.
Analyzing various perspectives of the market with the help of Porterâ€™s five forces analysis.
Study on the product type that is expected to dominate the market.
Study on the regions that are expected to witness fastest growth during the forecast period.
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet (in excel).
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This report can be customized to meet the desired requirements. Please connect with our analyst, who will ensure that you get a report that suits your needs.
Covered in this report
The Report Covers the Present Scenario and the Growth Prospects of the Global Europe Vehicle Rental Market for 2021-2023. To calculate the market size, the report considers new installations or sales and subscription payments of Europe Vehicle Rental.
Regional Market Analysis:
The Europe Vehicle Rental Market report includes Global & Regional market status and outlook 2021-2023. Further, the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Global Europe Vehicle Rental Market 2021-2023, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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- Growing research activities coupled with new product launches.
- High Opportunity in the Industry
- Complications associated with Europe Vehicle Rental procedures.
Some Major Points from Toc :-
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.5 Degree of Competition
3.3 Price Analysis
4. Market Dynamics
5. Market Segmentation and Analysis (Market Size, Growth & Forecast)
5.1 By Product Type
5.2 By Application
5.3 By End-user Industry
6. Regional Market Analysis
6.1 Production Analysis
6.1.4 Democratic Republic of Congo
6.2 Consumption Analysis (Market Size, Growth and Forecast)
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
6.2.2 North America
126.96.36.199 United States
188.8.131.52 Rest of North America
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
6.2.4 South America
18.104.22.168 Rest of South America
6.2.5 Middle East & Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East & Africa
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
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