Global Car Rental Services Market to Reach US$58.9 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global outlook on the Car Rental Industry. Innumerable people traveling from and to various destinations across the world are the principal contributors to the global car rental market. The US would continue to remain the undisputed leader in the industry, with companies aggressively formulating various strategies to attract and retain customers.

Car Rental Industry: A Global Outlook

Follow us on LinkedIn – The travel industry is one of the biggest industries in the world, comprising a vast array of businesses such as airlines, railways, cruise lines, and car rentals, along with travel operators, agents and suppliers. The car rental market that forms an integral part of this industry consists of two primary sectors namely General (which includes airport and non-airport segments) and Insurance Replacement. While the General car rental market includes numerous key companies, which rent cars mainly to business and leisure travelers, the Insurance Replacement segment rent cars primarily to people who have lost their vehicles due to theft, accidents, or breakdowns.

A key aspect that sets apart the car rental from other industries is the absence of regulatory standards to guide the industry. Therefore, as the industry follows no generalized business patterns, each company formulates its own set of rules, governed by a cold-eyed focus on maximum revenue generation. This unregulated system causes difficulties to customers both in terms of price as well as service, thereby leaving the task of verifying the authenticity of deals to customers. As a result, most customers resort to either checking up with local agencies for rental prices or rummage for an optimal price on the internet, before hiring a car.

The car rental market is witnessing a rise in the number of online transactions. In line with the trend, car rental companies are leveraging the internet to provide customers with easy online payment and booking options. Similarly, in tune with the growing need for safeguarding the environment by reducing hazardous emissions, eco-friendly cars such as electric, natural-gas, and hybrid low-emission cars, are making significant in-roads into the car rental industry. The trend is taking off with several rental companies expanding their fleet of eco-friendly cars.

The research report titled “Car Rental Industry: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a rudimentary overview of the industry, highlights latest trends and demand drivers, in addition to providing statistical insights. Regional markets briefly abstracted and covered include US, Canada, Europe (France, Germany, UK, Italy, and Rest of Europe), Asia-Pacific, Middle East and Latin America. The report offers a compilation of recent mergers, acquisitions and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

For more details about this comprehensive industry report, please visit –
http://www.strategyr.com/Car_Rental_Industry_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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