The Average rental length of Car Rental segment in United States of America, attained a value of 4.76 days in 2023
The indicator recorded a historical growth (CAGR) of 0.61% between 2020 to 2023, and is expected to grow by ...
GlobalData projects the indicator to grow ...
Car Rental Segment in the United States
The car rental market is defined as revenues generated by car rental companies for self-drive cars for hire. The market value is made up of car rentals for business, leisure purposes and Insurance replacement.
The US car rental market saw a strong decline in 2020 because of the COVID-19 pandemic. However, grew strongly in the 2021 period as the market recovered.
The various travel restrictions and lockdowns implemented across the world in the wake of COVID-19 have had a serious impact on the car rental market, due to the significant drop in the number of travelers and, more particularly, the decrease in air passenger traffic. Low tourist demand means many cars are being parked.
Category Segmentation
Leisure is one of the largest segment of the car rental market in the United States, accounting for the largest share of the market's total value.
The Business segment also accounts for a major share of the market.
Geography Segmentation
The United States accounts for a leading share of the global car rental market value.
Europe also holds a major share of the global market.
United States Leading Companies in the Car Rental Segment
Avis Budget Group Inc (Avis Budget) is a provider of car and truck rental and car sharing services. It offers car rental services to the premium commercial and leisure segments of the travel industry. Avis Budget also operates as a rental car supplier to price-conscious travelers. The company operates through various brands including Avis, Budget, Zipcar, Apex, Maggiore, Morini Rent, Turiscar, ACL Hire, France Cars and Payless.
Booking Holdings Inc (Booking Holdings), formerly The Priceline Group Inc, is a provider of online travel and related services. It offers accommodation reservation services, price comparison, rental car reservation services, restaurant reservations, airline tickets booking services, vacation packages and cruise booking services, travel reservation services. It operates business under brands such as Booking.com, Agoda, Priceline, KAYAK, Rentalcars.com and OpenTable.
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