Car Rental Market Driven By Growing Travel And Tourism Industry
Car Rental Market The car rental market provides mobility solutions through rental of passenger cars, light commercial vehicles and others for both business and leisure travellers. These rental vehicles offer flexibility, convenience and cost-effectiveness compared to vehicle ownership. With rising disposable incomes, more people are opting for leisure travelling by road. Additionally, growing business needs have increased demand for temporary vehicle rental solutions. Car rentals help meet occasional vehicle requirements of individuals and fleets in a affordable and hassle-free manner. The global Car Rental Market is estimated to be valued at US$ 133.23 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the key trends in the car rental market is the growing popularity of online booking platforms. Various international and local rental service