DUBLIN--(BUSINESS WIRE)--May 14, 2018--The “Global Tourism Vehicle Rental Market - Growth, Trends and Forecast (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.
The tourism vehicle rental market is expected to grow at a CAGR close 12.08% during the forecasted period of 2018-2023.
Vehicle rental services are relatively developed in the industrialized economies and have been around for a long time. More importantly, the general public is comfortable with the concept and as a result of proper procedures and insurance, there is little risk for the vehicle rental vendor.
Previously, in the emerging economies, there existed several regulations and high-security deposits needed to be given by the customer to take a vehicle on rent. The market was also highly unorganized and unregulated. Tourists who have little idea about the local conditions need clarity and uniform rules that were not present earlier and were impeding the growth of the market.
With a total vehicle fleet size more than 2 million, United States is the leader in the tourism vehicle rental market, but the market is saturated and will post modest gains. The major growth is expected to come from Asia-Pacific countries like Vietnam, Philippines, India, and China where tourism is expected to grow sharply. Organized vehicle rental services are still in their nascent stage in the emerging economies and offer significant opportunities for growth. As per Statista’s data, Zambia, in Africa, was the third fastest emerging tourism destination with an annual growth rate of 7.3 percent in travel and tourism’s direct contribution to GDP projected for 2014 to 2024.
Companies MentionedAutoeurope Avis Budget Carzonrent Easycar Enterprise Europcar Europe Luxury Car Hire Hertz Kemwel Sixt Zoomcar
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Overview And Technological Trends
5. Market Dynamics
6. Tourism Vehicle Rental Market, By Vehicle Type
7. Tourism Vehicle Rental Market, By Booking Mode
8. Tourism Vehicle Rental Market, By End User
9. Tourism Vehicle Rental Market, By Geography
10. Competitive Landscape
11. Key Vendor Analysis
12. Future Outlook Of The Market
For more information about this report visit https://www.researchandmarkets.com/research/n3sx66/global_tourism?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180514005608/en/
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Related Topics:Travel and Tourism,Automotive Leasing and Rental
INDUSTRY KEYWORD: TRAVEL TRANSPORTATION
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 05/14/2018 07:54 AM/DISC: 05/14/2018 07:54 AM