“Rise in the tourists arrivals in top
European countries (Spain, United Kingdom, Italy, France and Germany) coupled
with regional expansion of domestic and international players in terms of their
fleet size and number of rental locations have driven the Europe Car Rental
Market”.
The
report titled “Europe
Car Rental Market Outlook to 2025- By Region (France, Germany, Spain, United
Kingdom, Italy, Portugal, Ireland, Poland and Others), By Fleet (Compact, SUV,
Luxury) and By Purpose (Leisure and Business), Car Sharing By Fleet Size and
Users and Cab Aggregator By Revenue and Users)” by Ken Research suggested that the Europe Car Rental Market has been
increasing due to rise in tourist arrivals coupled with regional expansion of
local & international players in the market and adoption of innovative
strategies by major players in European countries is expected to register a positive CAGR of 4.7%
in terms of fleet size during the forecast period 2018-2025F.
Rise in the Number of Tourist Arrivals: Rise in tourism has been the major factor responsible for the
growth of car rental services in Europe. Five out of the top 10 destinations in
the world namely France, Spain, Italy, Germany and United Kingdom are located
in European Union. The major car rental companies in Europe generate their
revenue from the leisure and business travelers. The number of international
tourist arrivals in European Union increased from 433 million in 2013 to 569
million in 2018 at a CAGR of 5.6% during the review period.
Digitization of Services: Digitization of services and smartphone technology in Europe
has evolved over the years. Companies have been focusing on developing
solutions such as simplifying booking process, connected vehicle technology,
improved pricing mechanism and others in order to adapt to the latest
technology trends to improve the experience and allowing flexibility to the
customers. For instance, Sixt car
rental company based in Germany, has developed an integrated platform for its
car rental, car sharing and car ride services called Sixt One. The
platform will enable the customers to avail the services from one single application
thereby ensuring flexibly and smooth booking experience for the customer.
360 Degree Mobility Approach followed by companies: Companies have been following aggressive marketing strategies
in order to differentiate their service offerings from other players in the
market. 360 degree mobility approach is an example of one such aggressive
marketing strategy. In this approach the companies integrate car sharing, ride
hailing, scooter sharing, public transport and other mobility needs of the
customer to address maximum customer touch points and creating a one stop
solution for mobility.
Key Segments Covered:-
Europe
Car Rental Market
By Region
France
Germany
Spain
United Kingdom
Italy
Portugal
Ireland
Poland
Others
By Fleet Type
Compact
SUV
Luxury
and Premium
By Purpose
Leisure
Business
By Rental Location
On-Airport
Off-Airport
Europe Cab Aggregator Market
Europe
Cab Aggregator Market By Revenue
Europe
Cab Aggregator Market By Number of Users
Europe Car Sharing Market
Europe
Car Sharing Market By Fleet Size
Europe
Car Sharing Market By Number of
Users
Key Target Audience:-
Car
Rental Companies
Ride
Hailing Companies /Cab Aggregators
Car
Sharing Companies
Ride
Sharing Companies
Government/
Regulatory Authorities
Online
Aggregators
Automotive
OEMs
Time Period Captured in the Report:-
Historical Period: 2013-2018
Forecast Period: 2019F-2025F
Companies Covered:-
Europe Car
Rental Market
Europcar
Sixt
Avis Budget Group
Hertz
Enterprise-Rent-a-Car
Europe
Cab Aggregator Market
Uber
Bolt
Gett
Cabify
Kapten
FreeNow
Europe
Car Sharing Market
ShareNow
Zipcar
Ubeeqo
Getaround
For more information,
refer to below link:-
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing &
Communications
+91-9015378249
