Aarkstore - the Global Car Rental Market to 2018

Aarkstore Enterprise

18th December 2014

The Global Car Rental Market to 2018

Browse Full Report @ http://www.aarkstore.com/travel-tourism/82209/the-global-car-rental-market-to-2018 Published: Dec 2014 | No. Of Pages: 146 Pages PDF: $ 3450| Site Licence : $ 6900 |Enterprise Wide Licence :$ 10350

Summary

The global car rental market performed well during the historic period, recovering from the slowdown recorded at the beginning of 2009 due to the financial crisis and recession. Overall, growth was recorded in the four regions Americas, AsiaPacific, Europe, Middle East and Africa across all key performance indicators (KPIs) during the historic period. This is expected to continue over the forecast period, supported by the rise in tourism flows and expenditure.

Key Findings

According to the Travel &Tourism intelligence center (TTIC) analysis based on 40 countries around the world, the US was the leader in the car rental market in terms of both market value and fleet size. The US recorded US$28.6 billion market value in 2013, which is more than six times that of its competitor, Japan, which recorded US$4.2 billion market value in 2013 The Eurozone crisis had a negative impact on the Travel and Tourism sector in European countries. However, car rental KPIs showed resilience in many countries (with the exception of Italy and Spain) with overall growth recorded in KPIs during the historic period. The hosting of international events such as Olympic Games in London in 2012 and Winter Olympic Games in Russia in 2014 have partially supported the growth Challenging economic conditions and fierce competition have resulted in a large number of deals recorded in the global car rental market during the historic period as a means for operators to improve profitability and remain competitive. Some of the biggest deals in the car rental market were recorded in the US such as the acquisition of Dollar Thrifty Automotive Group by Hertz. Several leading car rental operators...