Car Rental Market Size, Companies Share, Trends, Demand, Growth and Opportunities Forecast to 2025
According to IMARC Group’s latest report, titled “ Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025 ”, the global car rental market grew at a CAGR of around 8% during 2014-2019. Looking forward, IMARC Group expects the global market has huge potential for growth during 2020-2025. Car rental is the facility of renting vehicles temporarily for a predefined period through online or offline channels. Car rental services are primarily focused on serving travelers and individuals who do not own private automobiles. Car rental is a cost-effective alternative to owning a vehicle as it offers low-cost traveling, freedom of movement, and reduced fuel consumption on individual vehicles. Several car rental service providers also offer various other services, such as car damage repair, insurance compensation policies, entertainment systems, GPS and Wi-Fi networks, for an enhanced consumer experience. The rising urban population, coupled with signif...