The Global Car Rental Market is driven by Flexible Mobility Solutions

The global car rental market allows customers to rent cars for short or extended periods. Car rentals provides flexibility as it helps customers traveling for business or leisure gain temporary access to a vehicle of their choice. Customers can book luxury cars, SUVs, economy cars or other vehicle categories based on their budget and requirement. The Car Rental Market Size offers one-way rentals which allow customers to pick up cars from one location and drop them off at another destination. This is a convenient option for those requiring ground transportation over multiple locations.

The Global Car Rental Market is estimated to be valued at US$ 153.49 Mn in 2024 and is expected to exhibit a CAGR of 2.9% over the forecast period 2024 To 2031.

With rising tourism and business travel worldwide, there is increasing demand for rental cars especially in major cities and airports. Car Rental Market companies help meet this temporary mobility demand through their large fleet of vehicles. The industry is working on expanding supply and offering attractive pricing to gain more customers. To enhance customer experience, rentals provide extras like GPS navigation, car seats for children and luxury features based on package selected.

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