The Number of rental days in Car Rental segment in United Kingdom, attained a value of 97.63 million in 2023
The indicator recorded a historical growth (CAGR) of 44% between 2020 to 2023, and is expected to grow by ...
GlobalData projects the indicator to grow ...
Car rental in the United Kingdom
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.
Key market trends impacted by COVID-19 in Global car rental segment
Business travel was the most affected by COVID-19
Business travel is an integral part of the car rental ecosystem, contributing a significant portion to its total market value. However, the market value fell in 2020 due to the coronavirus.
The significant fall is due to the changing attitudes towards business operations and travel in general during the pandemic. In 2020 many countries-imposed lockdowns, ordering non-key workers to work from home and restricting all but essential travel.
Contactless rentals
The contactless trend has accelerated during the pandemic across multiple industries, including car rental. Through contactless rentals, the entire process is completed through apps and online booking. As car rental can require a significant amount of paperwork and documentation, car rental agencies such as Green Motion have developed an app where the customer can upload all the necessary documents on the app.
Furthermore, with a contactless rental, customers can pick up the vehicle outside of opening hours. Ultimately, the contactless element eliminates many customers pain points, including queues, waiting times and inflexible pick-up and drop-off times. While this is an overall positive development for customers, companies must offer the proper infrastructure to support this, such as a 24-hour emergency line, reliable IT technology and strong corporate partnerships with third-party suppliers such as OTA’s.
Who are the leading players in UK car rental segment ?
Europcar Mobility Group (Europcar) is a provider of integrated mobility services. The company offers a wide range of car rental or leasing services, including vehicle rentals on a short-term basis, low-cost rental services, carsharing, and booking services through its fleet of cars, vans, and trucks.
Avis 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, France Cars and Payless.
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