Global Luxury Cars Rental Market, 2016 – 2022
Global luxury cars rental market is expected to reach USD 23.2 Billion by 2022, growing at a CAGR of 14.0
Global luxury cars rental market is expected to reach USD 23.2 Billion by 2022, growing at a CAGR of 14.0
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Published By: Zion <strong>Market</strong> Research<br />
<strong>Global</strong> <strong>Luxury</strong> <strong>Cars</strong> <strong>Rental</strong> <strong>Market</strong> is Set for a<br />
Rapid Growth and is Expected to Surpass the USD<br />
23.2 Billion by <strong>2022</strong><br />
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<strong>Luxury</strong> <strong>Cars</strong> <strong>Rental</strong> <strong>Market</strong><br />
Zion <strong>Market</strong> Research has published a new report titled “<strong>Luxury</strong> <strong>Cars</strong> <strong>Rental</strong> <strong>Market</strong><br />
(Compact <strong>Luxury</strong> <strong>Cars</strong>, Mid-Size <strong>Luxury</strong> <strong>Cars</strong>, Full-Size <strong>Luxury</strong> <strong>Cars</strong>, <strong>Luxury</strong> Crossovers<br />
& Minivans, and <strong>Luxury</strong> SUVs) for end-users such as Local Usage, Airport Transport,<br />
Outstation, And Others: <strong>Global</strong> Industry Perspective, Comprehensive Analysis and<br />
Forecast, <strong>2016</strong> - <strong>2022</strong>”. According to the report, the global luxury cars rental<br />
market accounted for USD 8.2 Billion in 2014 and is forecasted to surpass the USD 23.2 Billion<br />
by <strong>2022</strong>, growing at a CAGR of around 14.0% between 2017 and <strong>2022</strong>.<br />
Most car rental providers offer a range of vehicle sizes to suit a variety of budgets and space<br />
requirements. Some providers additionally offer specialized vehicles to suit its location such as<br />
convertibles, prestige models, hybrid/electric vehicles, or SUVs and passenger vans. The<br />
technological innovation such as Internet website allowing online reservations, the different<br />
mobile application allows user to save their time and money.<br />
Request Free Sample copy of <strong>Global</strong> <strong>Luxury</strong> <strong>Cars</strong> <strong>Rental</strong> <strong>Market</strong> Report @<br />
https://www.zionmarketresearch.com/sample/luxury-cars-rental-market
<strong>Luxury</strong> <strong>Cars</strong> <strong>Rental</strong> <strong>Market</strong><br />
The automotive industry can benefit from a fundamentally different business model, which<br />
involves less waste, higher customer loyalty, and significantly improved profits. To gain such<br />
types objective automaker has started adopting the different business model, instead of selling<br />
cars for a one-time profit, manufacturers have started to a service based long-term lease<br />
business model. Instead of losing touch with customers after the initial sale, manufacturers<br />
collecting back used vehicles years later to be remanufactured into new vehicles. These are<br />
examples of circular economy strategies, whereby manufacturers efficiently recycle and<br />
remanufacture their products without sacrificing quality. Ultimately, this leads to a more<br />
sustainable business model and environment.<br />
Circular economy strategies are helping luxury car rental firms to invest in the business. Such<br />
kind of circular economy strategies is supporting the luxury car rental business. Mercedes Benz<br />
is implementing these strategies and expected top profit gain is up to nine times within five<br />
years.<br />
Compact luxury cars segment is expected to dominate the luxury cars rental market over the<br />
forecast period among other luxury car type segments including midsize luxury cars, full-size<br />
luxury cars, luxury crossovers & minivans, and luxury SUVs. Compact luxury cars segment is<br />
expected to expand at a relatively high growth rate of 14.2% over the forecast period.<br />
Inquire more about this report before purchase @<br />
https://www.zionmarketresearch.com/inquiry/luxury-cars-rental-market
<strong>Luxury</strong> <strong>Cars</strong> <strong>Rental</strong> <strong>Market</strong><br />
Airport transport segment is expected to account for relatively high share with a significant<br />
growth rate of 14.4% over the forecast period. Others segments of the luxury cars rental<br />
market by end-users segmentation include local usage, outstation, and others.<br />
Online segment is expected to expand at a relatively high CAGR the offline segment over the<br />
forecast period, attributed to increasing trend of e-commerce across the globe. Online segment<br />
is expected to account for 70.2% by <strong>2022</strong> end.<br />
The luxury cars rental market is fragmented on the basis of the region as North America,<br />
Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among the above-mentioned<br />
regions, Asia Pacific luxury cars rental market is expected to expand at a relatively high growth<br />
rate over the forecast period. However, luxury cars rental market in North America is expected<br />
to dominate the global market with 46.7% revenue share by <strong>2022</strong> end.<br />
Prominent players of the luxury cars rental market include Avis Budget Group, Inc., Sixt Rent-A-<br />
Car, Enterprise Rent-A-Car, The Hertz Corporation, Europcar, Al-Futtaim Group, Carzonrent,<br />
Localiza Rent A Car, Eco Rent A Car, and others.<br />
Browse the full "<strong>Luxury</strong> <strong>Cars</strong> <strong>Rental</strong> <strong>Market</strong> (Compact <strong>Luxury</strong> <strong>Cars</strong>, Mid-Size <strong>Luxury</strong> <strong>Cars</strong>,<br />
Full-Size <strong>Luxury</strong> <strong>Cars</strong>, <strong>Luxury</strong> Crossovers & Minivans, and <strong>Luxury</strong> SUVs) for end-users<br />
such as Local Usage, Airport Transport, Outstation, And Others: <strong>Global</strong> Industry<br />
Perspective, Comprehensive Analysis and Forecast, <strong>2016</strong> - <strong>2022</strong>" report<br />
at https://www.zionmarketresearch.com/report/luxury-cars-rental-market
<strong>Luxury</strong> <strong>Cars</strong> <strong>Rental</strong> <strong>Market</strong><br />
Zion <strong>Market</strong> Research<br />
Address: 4283, Express Lane, Suite 634-143, Sarasota, Florida 34249, United States<br />
Tel: +1-386-310-3803 GMT +49-322 210 92714<br />
Tel: +1-855-465-4651 (US/CAN TOLL FREE)<br />
Email: sales@zionmarketresearch.com Web: www.zionmarketresearch.com
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