Company that rents automobiles at a certain charge for a particular period of time is known as car rental agency. These agencies are primarily located in busy city areas or near airports. The cars can be rented also through online reservations. These agencies cater to people traveling out of town. Car rental agencies rent out vans, trucks, motorcycles or even scooters. These agencies offer extra products such as global positioning systems, entertainment systems, navigation systems, insurance and at times mobiles phones.
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The growth in tourism has been the primary driver for the growth of the car rental agencies. It gives the travelers the liberty to move around conveniently. It caters to the corporate world, wherein client’s transportation is being prioritized. People often fear of the unwarranted claims made by car rental agencies. They are often made to pay extra for stuffs that were not included earlier. Different condition parameters set forth by the car rental agencies prevent people from renting cars. . Growing number of air travelers has increased the revenue of car rental agencies. Globalization has instigated various multinational companies to establish their business overseas. This in turn has fuelled the car rental market demand, as people travelling abroad to client sites depend on such reliable services that help them reach their destinations conveniently.
- North America
- Asia Pacific
- Rest of the World
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years