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.
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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
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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: -
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