Luxury Car Rental Market Size, Trends and Insights By Rental Type (Business, Leisure), By Mode Of Booking (Offline, Online), By Rental Length (Short Term, Long Term), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030


Report Code: CMI17002

Published Date: August 2022

Pages: 220+

Category: Logistics & Transportation

Reports Description

The global luxury car rental market is expected to grow at a compound annual growth rate of 5.3% during the forecast period and it is expected to grow from USD 44.9 billion in the year 2021 to USD 71.3 billion by the year 2030.

Luxury Car Rental Market Size

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Industry Synopsis

The demand for renting luxury cars is growing across the globe as they provide good performance as compared to other cars and they are rented as the price of the luxury cars is higher. These cars provide better comfort stay are of better make and quality and these cars are seen as a status symbol as compared to any other regular cars. There’s the growing popularity of renting luxury cars across the globe through various organizations or companies that rent these cars for a particular amount of charge.

The charges for the car very depending upon the time for which is rented. Depending upon the need of the individual the car can be rented for weeks it can be rented for a day or even an hour. Improved lifestyles and luxurious living have created more demand for renting these exotic cars.

The availability of various models with the companies which are offered for renting has helped in the growth of the market in recent years. And the market is expected to grow well during the forecast period as these cars are used on a large scale depending upon various events where the image of a person is dependent on the car used for that specific purpose.

Although there are various benefits and offers that are provided by the companies that rent the cars on a daily basis or weekly basis there are a few other reasons why the market growth will be restrained in the coming years. When renting a luxurious car, a large amount of deposit is taken by the organization as a safety deposit. It usually varies between 2500 U.S. dollars to 50,000 U.S. dollars on average. Apart from acquiring a deposit to ensure the safety of the vehicle financial information about the person is also taken by the organization and GPS devices are installed in the cars which help in tracking down these cars in order to have better safety in case of other difficulties.

The personal insurance of the person who has rented the car is also of great importance to the organization that is renting out the car which helps in ensuring security as the person is liable for any damages to the car. Apart from all of these factors, another reason for restraining the growth of the market is the charging of premiums for various insurance and policies that are extremely high on a monthly basis. Car insurance for these luxury cars varies between 400 to 1300 U.S. dollars and at times it could be even higher depending upon the insurance provider and the model of the car. All of these factors together will hinder the market growth in the coming yours.

COVID-19 Outbreak Analysis

During the outbreak of the COVID-19 pandemic, the purchases of new cars or the manufacturing of automobiles had a negative impact, but that is not the case with the car renting market. Constantly imposed lockdowns and restricted movement had led to the increased dues of the e-commerce platforms. Various websites and applications that provide car rental services were used to a great extent. The travel and tourism sector was also affected during the lockdown and the pandemic as domestic as well as the international movement was restricted.

The amount spent on traveling across the globe had reduced by about 12% in the year 2021. The expenditure made on business travels was at 14% in the year 2021 and it will continue to grow during the forecast. An excellent opportunity shall be provided for the renting of luxurious cars for business purposes. Increased awareness regarding the Renting of luxury cars as compared to buying them and the benefits associated with it will drive the market growth during the forecast period.

Industry Growth Factors

The demand for renting luxury cars is expected to grow in the coming years as this is a transport service that is demand responsive which helps in meeting the needs of the consumers that seek luxury vehicles that are well equipped with various features. These vehicles are equipped with feedback that is real-time and it provides a vehicle tracking system. The availability of various applications used on mobile makes it hassle-free for hiring these cars online. The applications also help in comparing the prices of various luxury cars offered by different companies.

The availability of your applications provides a comparison between renting a luxury car or understanding the fare of a taxi in a single app. There’s an availability of hours that are chauffeur driven which is available on these applications. Depending upon the need of the consumer these luxury cars offered on the market are available in various ranges.

The market for renting luxury cars is expected to have rapid growth across the globe due to the increased use of advanced technologies that have helped in automating these cars. It has helped in improving the efficiency of the machine and the adoption of artificial intelligence in these autonomous cars has helped in providing a better experience to the driver as well as the passengers. It also ensures better safety and reduces car accidents. The companies that offer luxury cars on a rental basis have lucrative offers which help in attracting consumers. These services are provided at discounted rates in order to improve the booking through various applications or online platforms.

Digitization has played an extremely important role in the growth of the market in recent years, especially after the outbreak of the COVID-19 pandemic. Digitalization in this sector has provided better profitability as it has helped in enhancing the services provided to the consumers and provided better satisfaction. There has been an increased use of software for the management of these rental cars and the growing demand for this software through the companies offering these cars will help in providing automation in their operations as well as their services.

The tedious task of management and operations becomes efficient due to the use of this software. The presence of an inbuilt payment platform on this software will help in reducing the human intervention required for these purposes. These companies have also benefited due to the increased use of the software cycles also helps in optimizing the availability of the fleet. And the use of this software is used for managing a business online and shall provide better opportunities for growth in the coming years.

Segmental Insights

Luxury car rental market segment on the basis of the Rental Type

On the basis of the rental type, the business segment is expected to have the largest market share and it has grown well in the past. The demand for renting luxury cars for the top executives of the organization will continue to grow during the forecast period. Many private companies and government organizations hired these cars for transport services. Depending upon the designation of the personal luxury cars are provided by this organization.

The growing trend of hiring luxury cars is due to an increased preference of the organization for reducing the fixed asset cost which could be incurred by buying these cars.

Luxury car rental segment on the basis of the Mode of Booking

Depending upon the booking made the online segment will drive the market growth in the coming year period it is expected to grow at a higher compound annual growth rate in the coming years as compared to the offline mode of booking car rental services. The young generation prefers the online mode as compared to the other generations. The availability of various options on the online platform makes it easier to choose from these options.

The availability of applications and online booking websites throughout the year and around the clock shall be the factors driving the growth of the online platform. These applications and websites provide better information about the availability of various models and their prices. Reserving these cars is extremely easy on these websites as there has been increased penetration of smartphones and Internet services.

Luxury Car Rental Market (By Mode Of Booking)

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Luxury car rental market segment on the basis of the Rental Length

Depending upon the length of renting a luxury car the short-term segment is expected to grow well during the forecast period. Increased use of car rental services for business meetings which last only a day or two and the increased use of luxury cars for these purposes salute the growth of the market in the coming years.

Report Scope

Feature of the Report Details
Market Size in 2021 USD 44.9 Billion
Projected Market Size in 2030 USD 71.3 Billion
CAGR Growth Rate 5.3% CAGR
Base Year 2021
Forecast Period 2022-2030
Prominent Players Aviz Budget, Goldcar, Enterprise Holdings, Hertz, Localiza, Sixt, Fox Rent a Car, Movida, Unidas, eHi car Services, and Others
Key Segment By Rental Type, Mode Of Booking, Rental Length, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Regional Insights

Luxury car rental market segment on the basis of geography

Asia Pacific region is expected to have the largest market share for renting luxury cars during the forecast period. There is a growing demand for renting these luxury cars as compared to buying them in the Asia Pacific region. Countries like India and China from this region are highly populated and about 38% of the population of the world is there a siding in these regions. The Luxury Car Rental market growth is expected to be driven by these two nations on a larger scale.

The demand for renting these luxury cars is growing as the number of various billionaires residing in the Asia Pacific region is also growing. There what about 1149 billionaires in the Asia Pacific region in the year 2021 and it is expected to grow in the coming years. Most of these billionaires come from the nations like India as well as China.

Although this business is an emerging business for the Asia Pacific region when it is compared to the North American region or the European region but the trend for renting luxury cars is growing well. There shall be significant growth in the coming years. Apart from the Asia Pacific region, the North American region is also expected to grow well we shall have a good amount of market share standing at the second position. This market has suffered during the pandemic however the market has seen a steady increase after the pandemic.

Luxury Car Rental Market (trends by region)

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As the travel and tourism industry was also affected to a large extent the car renting services or the luxury car renting services had dropped for the European region.

Key Market Developments

In the year 2021, luxury car rental services as started for the United Arab Emirates by Amazon. Amazon is the largest e-commerce platform that provides services across the globe and this organization will play an important role in providing luxury car rental services to the consumers of various places in this region.

A partnership between Ritz Carlton of Orlando and Corsa HQ Aims at providing luxury cars on a rental basis to the people staying as guests. These services will provide Bentley, Lamborghini, Ferrari and Rolls Royce.

Segments covered in the report

By Rental Type

  • Business
  • Leisure

By Mode of Booking

  • Offline
  • Online

By Rental Length

  • Short term
  • Long term

By Geography

North America

  • U.S
  • Canada

Europe

  • U.K
  • Germany
  • France

Asia Pacific

  • China
  • India
  • Japan
  • South Korea

Rest of the World

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Luxury Car Rental Market, (2022 – 2030) (USD Billion)
    • 2.2 Global Luxury Car Rental Market: snapshot
  • Chapter 3. Global Luxury Car Rental Market – Industry Analysis
    • 3.1 Luxury Car Rental Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Growing use of advanced technologies
      • 3.2.2 Driver 2
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Rental Type
      • 3.7.2 Market attractiveness analysis By Mode Of Booking
      • 3.7.3 Market attractiveness analysis By Rental Length
  • Chapter 4. Global Luxury Car Rental Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Luxury Car Rental Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Luxury Car Rental Market – Rental Type Analysis
    • 5.1 Global Luxury Car Rental Market overview: By Rental Type
      • 5.1.1 Global Luxury Car Rental Market share, By Rental Type, 2021 and 2030
    • 5.2 Business
      • 5.2.1 Global Luxury Car Rental Market by Business, 2022 – 2030 (USD Billion)
    • 5.3 Leisure
      • 5.3.1 Global Luxury Car Rental Market by Leisure, 2022 – 2030 (USD Billion)
  • Chapter 6. Global Luxury Car Rental Market – Mode Of Booking Analysis
    • 6.1 Global Luxury Car Rental Market overview: By Mode Of Booking
      • 6.1.1 Global Luxury Car Rental Market share, By Mode Of Booking, 2021 and 2030
    • 6.2 Offline
      • 6.2.1 Global Luxury Car Rental Market by Offline, 2022 – 2030 (USD Billion)
    • 6.3 Online
      • 6.3.1 Global Luxury Car Rental Market by Online, 2022 – 2030 (USD Billion)
  • Chapter 7. Global Luxury Car Rental Market – Rental Length Analysis
    • 7.1 Global Luxury Car Rental Market overview: By Rental Length
      • 7.1.1 Global Luxury Car Rental Market share, By Rental Length, 2021 and 2030
    • 7.2 Short Term
      • 7.2.1 Global Luxury Car Rental Market by Short Term, 2022 – 2030 (USD Billion)
    • 7.3 Long Term
      • 7.3.1 Global Luxury Car Rental Market by Long Term, 2022 – 2030 (USD Billion)
  • Chapter 8. Luxury Car Rental Market – Regional Analysis
    • 8.1 Global Luxury Car Rental Market Regional Overview
    • 8.2 Global Luxury Car Rental Market Share, by Region, 2021 & 2030 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America Luxury Car Rental Market, 2022 – 2030 (USD Billion)
        • 8.3.1.1 North America Luxury Car Rental Market, by Country, 2022 – 2030 (USD Billion)
    • 8.4 North America Luxury Car Rental Market, by Rental Type, 2022 – 2030
      • 8.4.1 North America Luxury Car Rental Market, by Rental Type, 2022 – 2030 (USD Billion)
    • 8.5 North America Luxury Car Rental Market, by Mode Of Booking, 2022 – 2030
      • 8.5.1 North America Luxury Car Rental Market, by Mode Of Booking, 2022 – 2030 (USD Billion)
    • 8.6 North America Luxury Car Rental Market, by Rental Length, 2022 – 2030
      • 8.6.1 North America Luxury Car Rental Market, by Rental Length, 2022 – 2030 (USD Billion)
    • 8.4. Europe
      • 8.4.2 Europe Luxury Car Rental Market, 2022 – 2030 (USD Billion)
        • 8.4.2.1 Europe Luxury Car Rental Market, by Country, 2022 – 2030 (USD Billion)
    • 8.4 Europe Luxury Car Rental Market, by Rental Type, 2022 – 2030
      • 8.4.1 Europe Luxury Car Rental Market, by Rental Type, 2022 – 2030 (USD Billion)
    • 8.5 Europe Luxury Car Rental Market, by Mode Of Booking, 2022 – 2030
      • 8.5.1 Europe Luxury Car Rental Market, by Mode Of Booking, 2022 – 2030 (USD Billion)
    • 8.6 Europe Luxury Car Rental Market, by Rental Length, 2022 – 2030
      • 8.6.1 Europe Luxury Car Rental Market, by Rental Length, 2022 – 2030 (USD Billion)
    • 8.5. Asia Pacific
      • 8.5.3 Asia Pacific Luxury Car Rental Market, 2022 – 2030 (USD Billion)
        • 8.5.3.1 Asia Pacific Luxury Car Rental Market, by Country, 2022 – 2030 (USD Billion)
    • 8.4 Asia Pacific Luxury Car Rental Market, by Rental Type, 2022 – 2030
      • 8.4.1 Asia Pacific Luxury Car Rental Market, by Rental Type, 2022 – 2030 (USD Billion)
    • 8.5 Asia Pacific Luxury Car Rental Market, by Mode Of Booking, 2022 – 2030
      • 8.5.1 Asia Pacific Luxury Car Rental Market, by Mode Of Booking, 2022 – 2030 (USD Billion)
    • 8.6 Asia Pacific Luxury Car Rental Market, by Rental Length, 2022 – 2030
      • 8.6.1 Asia Pacific Luxury Car Rental Market, by Rental Length, 2022 – 2030 (USD Billion)
    • 8.6. Latin America
      • 8.6.4 Latin America Luxury Car Rental Market, 2022 – 2030 (USD Billion)
        • 8.6.4.1 Latin America Luxury Car Rental Market, by Country, 2022 – 2030 (USD Billion)
    • 8.4 Latin America Luxury Car Rental Market, by Rental Type, 2022 – 2030
      • 8.4.1 Latin America Luxury Car Rental Market, by Rental Type, 2022 – 2030 (USD Billion)
    • 8.5 Latin America Luxury Car Rental Market, by Mode Of Booking, 2022 – 2030
      • 8.5.1 Latin America Luxury Car Rental Market, by Mode Of Booking, 2022 – 2030 (USD Billion)
    • 8.6 Latin America Luxury Car Rental Market, by Rental Length, 2022 – 2030
      • 8.6.1 Latin America Luxury Car Rental Market, by Rental Length, 2022 – 2030 (USD Billion)
    • 8.7. The Middle-East and Africa
      • 8.7.5 The Middle-East and Africa Luxury Car Rental Market, 2022 – 2030 (USD Billion)
        • 8.7.5.1 The Middle-East and Africa Luxury Car Rental Market, by Country, 2022 – 2030 (USD Billion)
    • 8.4 The Middle-East and Africa Luxury Car Rental Market, by Rental Type, 2022 – 2030
      • 8.4.1 The Middle-East and Africa Luxury Car Rental Market, by Rental Type, 2022 – 2030 (USD Billion)
    • 8.5 The Middle-East and Africa Luxury Car Rental Market, by Mode Of Booking, 2022 – 2030
      • 8.5.1 The Middle-East and Africa Luxury Car Rental Market, by Mode Of Booking, 2022 – 2030 (USD Billion)
    • 8.6 The Middle-East and Africa Luxury Car Rental Market, by Rental Length, 2022 – 2030
      • 8.6.1 The Middle-East and Africa Luxury Car Rental Market, by Rental Length, 2022 – 2030 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Aviz Budget
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 Goldcar
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Enterprise Holdings
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 Hertz
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Localiza
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Sixt
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Fox Rent a Car
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Movida
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Unidas
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 eHi car Services
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments

List Of Figures

  • 1. Market research Type
  • 2. Market research methodology
  • 3. Global Luxury Car Rental Market, 2022 – 2030 (USD Billion)
  • 4. Porter’s Five Forces Analysis
  • 5. Global Luxury Car Rental Market attractiveness, By Rental Type
  • 6. Global Luxury Car Rental Market attractiveness, By Mode Of Booking
  • 7. Global Luxury Car Rental Market attractiveness, By Rental Length
  • 8. Global Luxury Car Rental Market share by Rental Type, 2022 and 2030 (USD Billion)
  • 9. Global Luxury Car Rental Market by Business, 2022 – 2030 (USD Billion)
  • 10. Global Luxury Car Rental Market by Leisure, 2022 – 2030 (USD Billion)
  • 11. Global Luxury Car Rental Market share by Mode Of Booking, 2022 and 2030 (USD Billion)
  • 12. Global Luxury Car Rental Market by Offline, 2022 – 2030 (USD Billion)
  • 13. Global Luxury Car Rental Market by Online, 2022 – 2030 (USD Billion)
  • 14. Global Luxury Car Rental Market share by Rental Length, 2022 and 2030 (USD Billion)
  • 15. Global Luxury Car Rental Market by Short Term, 2022 – 2030 (USD Billion)
  • 16. Global Luxury Car Rental Market by Long Term, 2022 – 2030 (USD Billion)
  • 17. Global Luxury Car Rental Market share, by Region, 2022 and 2030
  • 18. North America Luxury Car Rental Market, 2022 – 2030 (USD Billion)
  • 19. Europe Luxury Car Rental Market, 2022 – 2030 (USD Billion)
  • 20. Asia Pacific Luxury Car Rental Market, 2022 – 2030 (USD Billion)
  • 21. Latin America Luxury Car Rental Market, 2022 – 2030 (USD Billion)
  • 22. The Middle-East and Africa Luxury Car Rental Market, 2022 – 2030 (USD Billion)

List Of Tables

  • 1. Global Luxury Car Rental Market: Snapshot
  • 2. Drivers of the Luxury Car Rental Market: impact analysis
  • 3. North America Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 4. North America Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 5. North America Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 6. U.S. Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 7. U.S. Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 8. U.S. Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 9. Canada Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 10. Canada Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 11. Canada Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 12. Europe Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 13. Europe Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 14. Europe Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 15. Germany Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 16. Germany Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 17. Germany Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 18. France Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 19. France Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 20. France Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 21. U.K. Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 22. U.K. Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 23. U.K. Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 24. Italy Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 25. Italy Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 26. Italy Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 27. Spain Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 28. Spain Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 29. Spain Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 30. Rest of Europe Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 31. Rest of Europe Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 32. Rest of Europe Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 33. Asia Pacific Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 34. Asia Pacific Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 35. Asia Pacific Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 36. China Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 37. China Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 38. China Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 39. Japan Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 40. Japan Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 41. Japan Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 42. India Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 43. India Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 44. India Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 45. South Korea Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 46. South Korea Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 47. South Korea Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 48. South-East Asia Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 49. South-East Asia Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 50. South-East Asia Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 51. Rest of Asia Pacific Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 52. Rest of Asia Pacific Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 53. Rest of Asia Pacific Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 54. Latin America Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 55. Latin America Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 56. Latin America Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 57. Brazil Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 58. Brazil Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 59. Brazil Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 60. Mexico Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 61. Mexico Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 62. Mexico Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 63. Rest of Latin America Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 64. Rest of Latin America Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 65. Rest of Latin America Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 66. The Middle-East and Africa Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 67. The Middle-East and Africa Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 68. The Middle-East and Africa Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 69. GCC Countries Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 70. GCC Countries Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 71. GCC Countries Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 72. South Africa Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 73. South Africa Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 74. South Africa Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)
  • 75. Rest of Middle-East Africa Luxury Car Rental Market Revenue, By Rental Type, 2022 – 2030 (USD Billion)
  • 76. Rest of Middle-East Africa Luxury Car Rental Market Revenue, By Mode Of Booking, 2022 – 2030 (USD Billion)
  • 77. Rest of Middle-East Africa Luxury Car Rental Market Revenue, By Rental Length, 2022 – 2030 (USD Billion)

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2028
  • Market revenue estimates and forecasts up to 2028, by technology
  • Market revenue estimates and forecasts up to 2028, by application
  • Market revenue estimates and forecasts up to 2028, by type
  • Market revenue estimates and forecasts up to 2028, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Key Market Players in the Luxury Car Rental Market

  • Aviz Budget
  • Goldcar
  • Enterprise Holdings
  • Hertz
  • Localiza
  • Sixt
  • Fox Rent a Car
  • Movida
  • Unidas
  • eHi car Services

FAQs

“Asia Pacific” region will lead the global Luxury Car Rental market during the forecast period 2022 to 2030.

The market for renting luxury cars is expected to have rapid growth across the globe due to the increased use of advanced technologies that have helped in automating these cars.

The key players operating in the Luxury Car Rental market are Aviz Budget, Goldcar, Enterprise Holdings, Hertz, Localiza, Sixt, Fox Rent a Car, Movida, Unidas, eHi car Services, and others.

The global Luxury Car Rental market is expanding with growth with a CAGR of approximately 5.3% during the forecast period (2022 to 2030).

The global Luxury Car Rental market size was valued at USD 44.9 billion in 2021 and it is projected to reach around USD 71.3 billion by 2030.

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