Showing posts with label Italy Car Rental Market. Show all posts
Showing posts with label Italy Car Rental Market. Show all posts

Wednesday, January 4, 2023

Italy Car Rental Market is expected to Gain Momentum Owing to Rising Tourism, Along With Growing Internet Connectivity: Ken Research

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The Ecosystem of Italy Car Rental Market

Italy Car Rental Market is at a growing stage. The country has over ~ Market Players in Car Renting. Italy's Car rental market is dominated by major players such as Europcar, Avis, Hertz, Rentalcars.com, Easycar.com, and many others Italy’s Car Rental Market is in the Growing stage owing to rising internet connectivity and smartphones penetration along with rising tourism.

Key Findings

  • Italy Car rental market was valued at USD ~ Billion in 2021 and is projected to grow to USD ~ Billion by 2027, registering a CAGR of ~% in terms of revenue during the forecast period (2022P-2027).
  • Leasys launched a new e-commerce feature that will make it possible to complete the purchase of cars online.
  • Number of car rented is expected to grow at ~% in the forecasted period of 2022P-2027F in Italy.

Rising Rental Car Market:  The Italy Car Rental Market revenue grew from ~ € Bn in 2017 to approximately ~ € Bn in 2022P and is forecasted to grow further into ~ €Bn opportunity by 2027F, owing to the increasing demand from tourists for business and leisure purposes hiring rental cars along with the Italy government’s decision to increase the tax-free travel allowance. The growing penetration rate of the internet and smartphones are driving more people to rent a car as the services are mainly provided through online platforms.

Italy Car Rental Market

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Rising Tourism in The Country: The rise in domestic and international tourism across the country is likely to witness major growth in the market. In 2021, Domestic expenditure accounts for around ~% of total tourism spending. The contribution of travel and tourism spending is the key factor toward the Italian GDP. Such an increase in travel and tourism sectors across the country is witnessing major demand for car rental services, which in turn witnessing major growth for the market.

Growing Internet Connectivity: Rising internet penetration across the country and increase in use of smart phone application for online car rental booking is likely to witness significant growth for the market. For instance, in 2021, the number of active internet user in Italy counted more than ~ million, such an increase in use of internet will help to boost the market.

Analysts at Ken Research in their latest publication Italy Car Rental Market Outlook to 2027F -Driven by Type of Market Structure (Organized and Unorganized), by Type of Car (small cars, Sedan, SUV), By Booking Type (online, offline) and By application (business, leisure) By Fuel Type (diesel, petrol, electric).observed that Italy car sharing market is expected to showcase considerable growth in the coming five years. In the upcoming years, it is predicted to expand more rapidly due to increased population growth, a trend in the number of foreign tourists entering the nation, and an increase in the demand for carpooling. The Italy Car Rental Market is expected to grow at ~% CAGR over the forecasted period 2022P-2027F.

Key Segments Covered in the report: -

Italy car Rental Market

By Market Structure

  • Organized market
  • Unorganized market

By Type of Vehicles

  • Small Cars/ Hatchbacks
  • Sedans
  • SUVs
  • Others

To more about industry trends, Request a free Expert call

By Mode of Booking

  • Online
  • Offline

By Application

  • Business
  • leisure

By Fuel Type

  • Diesel
  • Petrol
  • Electric

Key Target Audience

  • Car Rental Service Providers
  • Car Rental Companies aiming to establish in the Italy
  • Italy Automotive Industries
  • Government Bodies & Regulating Authorities
  • Venture Capitalist targeting the car rental market
  • Automotive industry association
  • Car Manufacturers
  • Existing Car Rental Companies
  • OEM Dealerships
  • New Market Entrants
  • Investors
  • Car Rental Associations

Time Period Captured in the Report:

  • Historical Period: 2017-2022P
  • Base Year: 2022P
  • Forecast Period: 2022P-2027F

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Companies Covered:

  • Thrifty
  • Avis
  • National
  • Hertz
  • Alamo
  • Dollar
  • Britz

Key Topics Covered in the Report

  • Executive Summary
  • Country Overview of the Italy
  • Overview of Automotive Industry in Italy
  • Ecosystem and business cycle of Italy Car Rental Market
  • Value Chain Analysis of Italy Car Rental Market
  • Italy Car Rental Market Sizing, 2017- 2022P
  • Market Segmentations of Car Rental Market in Italy
  • Snapshots on different Car Rental Markets in Italy
  • SWOT Analysis of Italy Car Rental Market
  • Growth Drivers of Italy Car Rental Market
  • Government regulations of Italy Car Rental Market
  • Trends and Developments of Italy Car Rental Market
  • Challenges of Italy Car Rental Market
  • End User Analysis of Car Rental Market in Italy
  • Competitive Analysis of Car Rental Market in Italy
  • Future Outlook and Projections of Car Rental Market in Italy
  • Analyst Recommendations
  • Research Methodology

For more information on the research reports, refer to below link: -

Future Outlook of Italy Car Rental Market

Related Reports by Ken Research: -

Netherlands Car Rental Market Outlook to 2027F

Indonesia Car Rental Market Outlook to 2027F

Thursday, December 29, 2022

Italy Car Rental Market is Growing, Owing to Smartphones Users Penetration Along With the Rising Tourism: Ken Research

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The highest penetration of the internet in the region had strengthened the online reservations for rental cars as compared to the bookings made at the car rental station.

People Rising Preference: Growing demand for on-demand transportation services to drive market growth increasing vehicle costs, shrinking parking lots, and high auto maintenance costs encourage people to use on-demand transportation services for trips and everyday commuting. As a result, the industry has grown due to consumers' increased preference for on-demand transportation.

Rising International Tourists: The rising number of international tourists is the main growth driver for the expansion of the car rental market in the country raising the standard of booking and leading to robust revenue generation.

Italy Car Rental Industry

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Impact of Covid on The Car Rental Market: The COVID-19 pandemic has disrupted car rental growth across the country. The strict travel restrictions and quarantine rules across the country have adversely affected the car rental market. The car rental market registered around ~% lower revenue in 2020 as compared to 2019. However, the market is displaying a decent recovery post-severe COVID-19 pandemic outbreaks as the market revenue is surging by around ~% in 2021 as compared to 2020.

Growing Internet Connectivity: Country has been emerging as one of the largest internet users in the world and the rise in the use of smartphone applications for online car rental booking are likely to witness significant growth in the market. For instance, in 2021, the number of active internet users in Italy counted more than ~ million, such an increase in the use of the internet has helped to boost the market.

Analysts at Ken Research in their latest publication Italy Car Rental Market Outlook to 2027F -Driven by Type of Market Structure (Organized and Unorganized), by Type of Car (small cars, Sedan, SUV), By Booking Type (online, offline) and By application (business, leisure) By Fuel Type (diesel, petrol, electric).observed that Italy car sharing market is expected to showcase considerable growth in the coming five years. In the upcoming years, it is predicted to expand more rapidly due to increased population growth, a trend in the number of foreign tourists entering the nation, and an increase in the demand for carpooling. The Italy Car Rental Market is expected to grow at ~% CAGR over the forecasted period 2022P-2027F.

Key Segments Covered in the report: -

Italy car Rental Market

By Market Structure

  • Organized market
  • Unorganized market

By Type of Vehicles

  • Small Cars/ Hatchbacks
  • Sedans
  • SUVs
  • Others

To more about industry trends, Request a free Expert call

By Mode of Booking

  • Online
  • Offline

By Application

  • Business
  • leisure

By Fuel Type

  • Diesel
  • Petrol
  • Electric

Key Target Audience

  • Car Rental Service Providers
  • Car Rental Companies aiming to establish in the Italy
  • Italy Automotive Industries
  • Government Bodies & Regulating Authorities
  • Venture Capitalist targeting the car rental market
  • Automotive industry association
  • Car Manufacturers
  • Existing Car Rental Companies
  • OEM Dealerships
  • New Market Entrants
  • Investors
  • Car Rental Associations

Time Period Captured in the Report:

  • Historical Period: 2017-2022P
  • Base Year: 2022P
  • Forecast Period: 2022P-2027F

Visit this Link Request for a custom report

Companies Covered:

  • Thrifty
  • Avis
  • National
  • Hertz
  • Alamo
  • Dollar
  • Britz

Key Topics Covered in the Report

  • Executive Summary
  • Country Overview of the Italy
  • Overview of Automotive Industry in Italy
  • Ecosystem and business cycle of Italy Car Rental Market
  • Value Chain Analysis of Italy Car Rental Market
  • Italy Car Rental Market Sizing, 2017- 2022P
  • Market Segmentations of Car Rental Market in Italy
  • Snapshots on different Car Rental Markets in Italy
  • SWOT Analysis of Italy Car Rental Market
  • Growth Drivers of Italy Car Rental Market
  • Government regulations of Italy Car Rental Market
  • Trends and Developments of Italy Car Rental Market
  • Challenges of Italy Car Rental Market
  • End User Analysis of Car Rental Market in Italy
  • Competitive Analysis of Car Rental Market in Italy
  • Future Outlook and Projections of Car Rental Market in Italy
  • Analyst Recommendations
  • Research Methodology

For more information on the research reports, refer to below link: -

Future Outlook of Italy Car Rental Market

Related Reports by Ken Research: -

Netherlands Car Rental Market Outlook to 2027F

Indonesia Car Rental Market Outlook to 2027F