Albany, NY (PRWEB) November 10, 2014
The global car rental market is composed of companies that offer an automobile on lease to consumers who may not own or have access to their own vehicles. Such companies rent out vehicles to customers for a stipulated duration, which could range from a few hours to a few days to a few months. Depending on the type of car rented and the duration it is rented for, the car rental company will charge a fee from its customers. Often, these companies offer additional services and conveniences to their customers. For instance, customers can pick up a car from a designated location and return it at another location that matches better with their itinerary. For this purpose, many car rental companies operate offices in multiple cities statewide or nationwide.
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Car rental services are also sought out by corporate entities that need a fleet of vehicles to transport their employees. In such cases, renting vehicles rather than purchasing and maintaining vehicles is considered to be more cost effective. Most car rental companies also offer add-on services such as insurance, GPS navigation systems, and in-car entertainment systems. Customers often pay a little more to avail these services.
By the type of car rented, the car rental market can be segmented as: MUVs, SUVs, luxury cars, economy cars, and executive cars.
The market can also similarly be segmented on the basis of usage categories as: outstation, local usage, airport transport, and others that include self-drive, employee transportation, and event transportation.
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The global car rental market continues to reel under the impact of the global economic recession and is making a slower-than-expected recovery. However, despite its prolonged recovery, the car rental market presents opportunities in the emerging countries of India, China, Brazil and Russia where goods and people are increasingly on the move. The market research reports on MRRBiz offer detailed analyses of the global car rental market and support your decision making process.
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