Luxury Cars Rental Market
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<strong>Luxury</strong> <strong>Cars</strong> <strong>Rental</strong> <strong>Market</strong><br />
Circular economy strategies are helping luxury car rental firms to invest in the business. Such kind of<br />
circular economy strategies is supporting the luxury car rental business. Mercedes Benz is implementing<br />
these strategies and expected top profit gain is up to nine times within five years.<br />
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Compact luxury cars segment is expected to dominate the luxury cars rental market over the forecast<br />
period among other luxury car type segments including midsize luxury cars, full-size luxury cars, luxury<br />
crossovers & minivans, and luxury SUVs. Compact luxury cars segment is expected to expand at a<br />
relatively high growth rate of 14.2% over the forecast period.<br />
Airport transport segment is expected to account for relatively high share with a significant growth rate of<br />
14.4% over the forecast period. Others segments of the luxury cars rental market by end-users<br />
segmentation include local usage, outstation, and others.<br />
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Online segment is expected to expand at a relatively high CAGR the offline segment over the forecast<br />
period, attributed to increasing trend of e-commerce across the globe. Online segment is expected to<br />
account for 70.2% by 2022 end.<br />
The luxury cars rental market is fragmented on the basis of the region as North America, Europe, Asia<br />
Pacific, Latin America, and the Middle East and Africa. Among the above-mentioned regions, Asia Pacific<br />
luxury cars rental market is expected to expand at a relatively high growth rate over the forecast period.<br />
However, luxury cars rental market in North America is expected to dominate the global market with<br />
46.7% revenue share by 2022 end.<br />
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