Product Code: A12260
"The luxury car rentals market is expected to experience a significant growth rate of 9.4% from 2023-2032 due to fundamental shift in consumer preferences." - Allied Market Research.
Businesses are increasingly recognizing the advantages of using high-end vehicles for corporate events and executive travel. The trend leans towards creating a modern image, and this demand fuels growth. As companies seek flexible and prestigious transportation options, the luxury car rental market responds by offering tailored services. The opportunity lies in aligning with these evolving trends, providing businesses with access to premium vehicles for a range of professional needs, thereby contributing to the overall boost in sales.
In China, the increasing demand for luxury car rentals is closely tied to the nation's booming tourism industry and the escalating focus on environmental consciousness. As China witnesses a surge in domestic and international tourism, individuals seek sophisticated and comfortable transportation options to enhance their travel experiences. The allure of exploring China's diverse landscapes in high-end vehicles contributes to the growing sales in the luxury car rental market. Additionally, leading automobile manufacturers are entering the luxury car rental market in the country, which, in turn, is anticipated to propel the growth of luxury car rental sales. For instance, on February 1, 2020, Toyota Motor launched luxury car rental services for tourists in China by setting up a new company to run their business.
The UK is witnessing a surge in luxury car rentals due to a combination of various factors including the interest of exploring historical landmarks and attractive landscapes in style contributes to increased demand. Additionally, as corporate events and upscale gatherings become more frequent, the need for prestigious transportation has risen, driving the luxury car rental market. Furthermore, leading companies operating in the UK luxury car rental market are introducing new dedicated electric vehicle (EV) luxury car rental online platforms. For instance, on February 10, 2020, Nexus Vehicle Rental, a car rental provider launched a dedicated online platform for electric vehicle (EV) car rental including luxury and non-luxury cars as part of its revamped IRIS V5 rental management system. In addition, this launch has helped the business to meet rising demand for alternatives, cleaner mobility solutions, and provides growth opportunities for players operating in the market.
In India, the increasing demand for luxury car rentals is closely tied to the nation's growing corporate events and business travel, along with the rising influence of social media. As India becomes a prominent destination for corporate activities, there is a heightened need for prestigious transportation options for business events and executive travel. The convenience and sophistication offered by luxury car rentals make them an attractive choice for corporate clients. Leading players operating in the India luxury car rental market are planning to introduce a large fleet of vehicle for self-drive car rental business, which is expected to boost the company's business significantly.
In the LAMEA region, the charm of luxury and the increase in the number of high-profile events are creating robust opportunities for luxury car rentals. The region's growth in affluent population, coupled with a rise in luxury tourism, contributes to the demand for prestigious vehicles. As individuals seek to make a statement at events or experience the thrill of driving a high-end car, luxury car rental companies have the chance to meet these evolving preferences. By offering tailored services that cater to the specific desires of the market, companies in the LAMEA region can seize opportunities for increased sales and market expansion in the luxury car rental industry.
The luxury car rentals market is segmented by rental type, booking mode, end-user, and region. On the basis of rental type, the market is divided into business, and leisure. By booking mode, it is bifurcated into online and offline. By end-user, it is divided into self-driven, and chauffeur driven. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players covered in the report include: Auto Europe, Avis Prestige, Budget Rent A Car System Inc., Enterprise Holdings Inc., Europcar, Hertz Dream Collection, Paddock Rent a Car, Red Fox Luxury Lifestyle Ltd., Sixt Luxury Cars, and Thrifty Car Rental.
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- Investment Opportunities
- Technology Trend Analysis
- Average Consumer Expenditure
- Distributor margin Analysis
- Go To Market Strategy
- Pain Point Analysis
- Brands Share Analysis
- Historic market data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- Market share analysis of players at global/region/country level
- SWOT Analysis
Key Market Segments
By End-User
- Self-driven
- Chauffeur-driven
By Rental Type
By Booking Mode Type
By Region
- North America
- Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players:
- Budget Rent A Car System Inc.
- Europcar
- Paddock Rent a Car
- Auto Europe
- Hertz Dream Collection
- Red Fox Luxury Lifestyle Ltd.
- Avis Prestige
- Enterprise Holdings Inc.
- DTG Operations, Inc. (Thrifty Car Rental)
- Sixt Luxury Cars
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.3.1. Low bargaining power of suppliers
- 3.3.2. Low threat of new entrants
- 3.3.3. Low threat of substitutes
- 3.3.4. Low intensity of rivalry
- 3.3.5. Low bargaining power of buyers
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Special Occasions to Drive Sales in the Luxury Car Rental Market
- 3.4.1.2. Change in Consumer Preferences is Expected to Increase the Sales of Luxury Car Rentals
- 3.4.1.3. The Popularity of Flexible Rental Options to Increase the Demand for Luxury Car Rentals
- 3.4.2. Restraints
- 3.4.2.1. Competition from Various Other Segments to limit the Luxury Car Rental Sales
- 3.4.2.2. High Operating Costs to Act as a Challenge in Luxury Car Rental Market
- 3.4.3. Opportunities
- 3.4.3.1. Expanding Tourism Industry to Create Lucrative Opportunities in the Market
- 3.4.3.2. Corporate Partnerships and Events to Drive the Success for Luxury Car Rental Market
CHAPTER 4: LUXURY CAR RENTAL MARKET, BY RENTAL TYPE
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Business
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Leisure
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
CHAPTER 5: LUXURY CAR RENTAL MARKET, BY BOOKING MODE TYPE
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Online
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Offline
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
CHAPTER 6: LUXURY CAR RENTAL MARKET, BY END-USER
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. Self-driven
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Chauffeur-driven
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
CHAPTER 7: LUXURY CAR RENTAL MARKET, BY REGION
- 7.1. Overview
- 7.1.1. Market size and forecast By Region
- 7.2. North America
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by Rental Type
- 7.2.3. Market size and forecast, by Booking Mode Type
- 7.2.4. Market size and forecast, by End-User
- 7.2.5. Market size and forecast, by country
- 7.2.5.1. U.S.
- 7.2.5.1.1. Market size and forecast, by Rental Type
- 7.2.5.1.2. Market size and forecast, by Booking Mode Type
- 7.2.5.1.3. Market size and forecast, by End-User
- 7.2.5.2. Canada
- 7.2.5.2.1. Market size and forecast, by Rental Type
- 7.2.5.2.2. Market size and forecast, by Booking Mode Type
- 7.2.5.2.3. Market size and forecast, by End-User
- 7.2.5.3. Mexico
- 7.2.5.3.1. Market size and forecast, by Rental Type
- 7.2.5.3.2. Market size and forecast, by Booking Mode Type
- 7.2.5.3.3. Market size and forecast, by End-User
- 7.3. Europe
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by Rental Type
- 7.3.3. Market size and forecast, by Booking Mode Type
- 7.3.4. Market size and forecast, by End-User
- 7.3.5. Market size and forecast, by country
- 7.3.5.1. UK
- 7.3.5.1.1. Market size and forecast, by Rental Type
- 7.3.5.1.2. Market size and forecast, by Booking Mode Type
- 7.3.5.1.3. Market size and forecast, by End-User
- 7.3.5.2. Germany
- 7.3.5.2.1. Market size and forecast, by Rental Type
- 7.3.5.2.2. Market size and forecast, by Booking Mode Type
- 7.3.5.2.3. Market size and forecast, by End-User
- 7.3.5.3. France
- 7.3.5.3.1. Market size and forecast, by Rental Type
- 7.3.5.3.2. Market size and forecast, by Booking Mode Type
- 7.3.5.3.3. Market size and forecast, by End-User
- 7.3.5.4. Spain
- 7.3.5.4.1. Market size and forecast, by Rental Type
- 7.3.5.4.2. Market size and forecast, by Booking Mode Type
- 7.3.5.4.3. Market size and forecast, by End-User
- 7.3.5.5. Rest of Europe
- 7.3.5.5.1. Market size and forecast, by Rental Type
- 7.3.5.5.2. Market size and forecast, by Booking Mode Type
- 7.3.5.5.3. Market size and forecast, by End-User
- 7.4. Asia-Pacific
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by Rental Type
- 7.4.3. Market size and forecast, by Booking Mode Type
- 7.4.4. Market size and forecast, by End-User
- 7.4.5. Market size and forecast, by country
- 7.4.5.1. China
- 7.4.5.1.1. Market size and forecast, by Rental Type
- 7.4.5.1.2. Market size and forecast, by Booking Mode Type
- 7.4.5.1.3. Market size and forecast, by End-User
- 7.4.5.2. Japan
- 7.4.5.2.1. Market size and forecast, by Rental Type
- 7.4.5.2.2. Market size and forecast, by Booking Mode Type
- 7.4.5.2.3. Market size and forecast, by End-User
- 7.4.5.3. India
- 7.4.5.3.1. Market size and forecast, by Rental Type
- 7.4.5.3.2. Market size and forecast, by Booking Mode Type
- 7.4.5.3.3. Market size and forecast, by End-User
- 7.4.5.4. South Korea
- 7.4.5.4.1. Market size and forecast, by Rental Type
- 7.4.5.4.2. Market size and forecast, by Booking Mode Type
- 7.4.5.4.3. Market size and forecast, by End-User
- 7.4.5.5. Rest of Asia-Pacific
- 7.4.5.5.1. Market size and forecast, by Rental Type
- 7.4.5.5.2. Market size and forecast, by Booking Mode Type
- 7.4.5.5.3. Market size and forecast, by End-User
- 7.5. LAMEA
- 7.5.1. Key market trends, growth factors and opportunities
- 7.5.2. Market size and forecast, by Rental Type
- 7.5.3. Market size and forecast, by Booking Mode Type
- 7.5.4. Market size and forecast, by End-User
- 7.5.5. Market size and forecast, by country
- 7.5.5.1. Latin America
- 7.5.5.1.1. Market size and forecast, by Rental Type
- 7.5.5.1.2. Market size and forecast, by Booking Mode Type
- 7.5.5.1.3. Market size and forecast, by End-User
- 7.5.5.2. Middle East
- 7.5.5.2.1. Market size and forecast, by Rental Type
- 7.5.5.2.2. Market size and forecast, by Booking Mode Type
- 7.5.5.2.3. Market size and forecast, by End-User
- 7.5.5.3. Africa
- 7.5.5.3.1. Market size and forecast, by Rental Type
- 7.5.5.3.2. Market size and forecast, by Booking Mode Type
- 7.5.5.3.3. Market size and forecast, by End-User
CHAPTER 8: COMPETITIVE LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Product mapping of top 10 player
- 8.4. Competitive dashboard
- 8.5. Competitive heatmap
- 8.6. Top player positioning, 2022
CHAPTER 9: COMPANY PROFILES
- 9.1. Auto Europe
- 9.1.1. Company overview
- 9.1.2. Key executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
- 9.2. Avis Prestige
- 9.2.1. Company overview
- 9.2.2. Key executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
- 9.2.6. Business performance
- 9.2.7. Key strategic moves and developments
- 9.3. Budget Rent A Car System Inc.
- 9.3.1. Company overview
- 9.3.2. Key executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.3.6. Business performance
- 9.4. Enterprise Holdings Inc.
- 9.4.1. Company overview
- 9.4.2. Key executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.4.6. Key strategic moves and developments
- 9.5. Europcar
- 9.5.1. Company overview
- 9.5.2. Key executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.5.6. Key strategic moves and developments
- 9.6. Hertz Dream Collection
- 9.6.1. Company overview
- 9.6.2. Key executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.6.6. Business performance
- 9.6.7. Key strategic moves and developments
- 9.7. Paddock Rent a Car
- 9.7.1. Company overview
- 9.7.2. Key executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
- 9.8. Red Fox Luxury Lifestyle Ltd.
- 9.8.1. Company overview
- 9.8.2. Key executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
- 9.9. Sixt Luxury Cars
- 9.9.1. Company overview
- 9.9.2. Key executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
- 9.9.6. Business performance
- 9.9.7. Key strategic moves and developments
- 9.10. DTG Operations, Inc. (Thrifty Car Rental)
- 9.10.1. Company overview
- 9.10.2. Key executives
- 9.10.3. Company snapshot
- 9.10.4. Operating business segments
- 9.10.5. Product portfolio
- 9.10.6. Business performance