Automobile Rental & Leasing Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 9/9/2024
SIC Codes: 7513, 7514, 7515
NAICS Codes: 5321
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
View Full Sample Add To Cart

Excerpt from Automobile Rental & Leasing Industry Profile

Companies in this industry rent and lease passenger cars and trucks without drivers and utility trailers. Major companies include Avis Budget Group, Enterprise Holdings, Hertz Global Holdings, Ryder, and U-Haul (all based in the US), along with Europcar (France), LeasePlan (the Netherlands), and Sixt SE (Germany).

The global car rental market is expected to reach about $246 billion by 2032, with a compound annual growth rate (CAGR) of 8.1% between 2024 and 2032, according to Facts and Factors Research. China is seen as a key source of growth. Car rentals are growing in popularity in China's big cities, with demand being driven by better living standards, business rentals, and limits on ownership of private cars.

COMPETITIVE LANDSCAPE

Demand for car rental is driven by business and leisure travel; for truck rental, demand is driven by home sales and corporate relocations. The profitability of individual companies depends on efficient operations and the ability to finance inventory. Big companies have economies of scale in acquiring vehicles and customers. Small companies can compete effectively by providing better service, alternative products, or lower prices. The US industry is highly concentrated: the 50 largest companies generate about 90% of revenue.

PRODUCTS, OPERATIONS & TECHNOLOGY

Major services include the rental of automobiles and light-duty trucks at about 45% of the industry's revenue. Other services include rental of heavy trucks, truck trailers, and buses (30%) and leasing of automobile and light-duty trucks (25%). Companies ...

 
View Full Sample Add To Cart Return to the Industry Profile Menu

Related Profiles

Would you or your company benefit from having unlimited access to First Research's industry intelligence tools?

Learn More About Subscription Options