Irving, Texas (PRWEB) October 16, 2012
The global car rental industry witnessed intense competition during the previous years, which forced companies to offer new and better services to their customers. The industry is expected to reach US $67.6 billion by 2017 with a CAGR of 3.5% over the next five years. The industry consists of all car rentals, contracted to be of less than one year duration, for corporate, individual, recreational, or business purposes. Europe is estimated to witness the most growth during the forecast period due to growing airport rentals and gradual recovery of airline activities in the past two years.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on the top industry players of the market and presents its latest findings in "Global Car Rental Industry 2012-2017: Market Trend, Profit and Forecast Analysis." The report tracks all passenger car types exclusive of vans and light trucks.
Lucintel's study depicts that the industry is affected by continuous volatility in the global financial and credit markets and other concerns which have contributed to price volatility for petroleum products and higher average gasoline prices, impacting both broader economic conditions and consumer discretionary spending patterns. Limited leisure travel and a greater potential for adverse weather conditions negatively affected industry revenue.
The industry witnessed moderate growth due to demand for rental cars in different countries, driven by both domestic and international tourists and business customers, resulting from technological advancements and changing demographics. The increase in travelling expenditure, growing frequency of air travel, and rising number of foreign visitors also influenced growth.
Lucintel's research is intended to provide the industry leaders with a competitive benchmarking of the car rental market, up-to-date information on the market share, profit margins, capabilities and strategies of the leaders by assessing their capabilities against competitors. It provides executives with strategically important information, analysis, and insight critical to the development and implementation of effective marketing plan.
For a detailed table of contents and pricing information on this timely,market report, contact Lucintel at +1-972-636-5056 or via email at helpdesk (at) lucintel (dot) com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit http://www.lucintel.com.
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