![]() It is largely practiced at tourist places, where travelers come to visit the city or country. Customers can rent a vehicle on an hourly, daily, or monthly basis. ![]() A variety of car rental services are available worldwide. Customers typically choose from a variety of vehicle types, such as compact cars, sedans, SUVs, vans, or even luxury cars, depending on their needs and budget. A car rental agency is a company that rents automobiles for short periods of time and it is a popular service for tourists, travelers, and/or people who need a temporary means of transportation without owning the car. 07, 2023 (GLOBE NEWSWIRE) - Coherent Market Insights published a report, titled, “Car Rental Market, By Category (Intercity/Local Usage, On-Airport, Intra-City/Outstation, Others), By Car Type (Luxury Cars, Executive Cars, Economy Cars, SUV's, MUV's), - Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027,” According to the report, the global car rental market is estimated to be valued at $80.0 b illion in 2019 and is expected to exhibit a CAGR of 13.6 % during the forecast period.Īnalysts’ Views on Global Car Rental MarketĬar rental refers to the practice of renting a car from a car rental company for the specified period of time, usually ranging from a few hours to several weeks.
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