San Jose, California (PRWEB) February 29, 2012
Follow us on LinkedIn The travel business is one of the largest industries in the globe, comprising a vast array of organizations such as airlines, railways, cruise lines and car rentals, along with travel operators, agents and suppliers. The car rental market place which types an integral component of this industry consists of two main sectors namely Common (which includes airport and non-airport segments) and Insurance coverage Replacement. Although the General auto rental market contains numerous crucial organizations, which rent cars mainly to organization and leisure travelers, the Insurance coverage Replacement segment rent automobiles mainly to people who have lost their automobiles due to theft, accidents, or breakdowns. A considerable chunk of the markets revenues are derived by way of rentals at airports, offered that industry largely dependent upon travel and tourism, particularly air travel.
Globalization and the ensuing rise in global travel, over the decades, have supported the growth and development of the auto rental business worldwide. Demand for dependable and good quality rental services resulted in the expansion of automobile rental brands globally. Internationally known brands, such as, Hertz have effectively integrated their geographically dispersed operations to provide customers with familiar travel services anyplace in the planet. In the upcoming years, info technologies will continue to result in the evolution of a new breed of car rental businesses capable of leveraging technologies like GPS/Satellite Navigation/Telematics, and Internet to optimize the efficiency of fleet management, reduce fleet fees, enhance revenue-per-rental, improve booking/reservation efficiencies and provide superior service enhancements in terms of increased comfort, and better rental networks. To survive in an increasingly competitive marketplace exactly where players fight for a slice of the industry pie with cold eyed concentrate on profit margins, businesses are expected to concentrate on expanding brand portfolios to include truck rental brands, and worth-oriented leisure brands for the recession chastised price wary customers and cost conscious corporate customers.
Even as the auto rental company as a complete recovers from the consumer and corporate cutbacks on travel which brutalized the industry for the duration of the 2007-2009 recession, the business in Europe is being bogged down by fears of Eurozone debt crisis impacting tourism and travel in the debt-ridden economies. Optimism is nevertheless expected to prevail with the year 2011 ending on an encouraging note with tourism overall performance as indicated by the level of airline bookings and hotel occupancy rates posting encouraging growth. Also, political conflicts and unrest in Middle East and Northern Africa is re-channeling tourist targeted traffic to Southern Europe. Even though stock markets rally up encouraged by guarded optimism over the governments most recent attempts to rein in the debt crisis, the but lack of a permanent solution to the mounting financial difficulty can but weaken travel/tourism/air travel industry in the region in the instant future and send knock on effects into the auto rental industry. In the United States, even though short-term market place sentiments/confidence levels remain constrained by issues more than the state of the economic climate, repercussions of the euro debt crisis on the domestic economy, slower financial activity and fluctuating GDP growth, extended term growth prospects remain sturdy.
A key noteworthy trend in the global auto rental market is the boost in the quantity of on the web transactions. In line with the trend, auto rental companies are leveraging the net to give buyers with effortless on the internet payment and booking possibilities. The marketplace is also witnessing a shift towards greener, much more enviromentally vehicles like electric, natural-gas, and hybrid cars. Sustainable company practices are being implemented despite the scarcity of funds. These low emission cars are most suitable for short distance travel, and greater demand for that reason comes from company travelers.
As stated by the new market place research report on Automobile Rental Company, United States dominates the world marketplace. Europe will continue to stay as one particular of the fastest developing regional market with a projected three.7% growth more than the analysis period. Growth in the building countries will be driven by the rise of recession tourism, as a result of the 2007-2009 planet financial crisis, which encouraged a shift in preference for holiday hotspots away from well-liked generic retreats to low-cost countries/regions like China, India, Australia, and the Middle East. In addition, growth in element will also be driven by privatization and deregulation of the auto rental sector in these countries, expanding individual disposable earnings and hosting of mega sporting events like 2014 FIFA World Cup and the 2016 Olympic Games that generate a hub for tourism. Airport Vehicle Rental is forecast to witness the fastest growth of 4.% over the analysis period.
Main players in the industry include Avis Budget Group, Dollar Thrifty Automotive Group, Enterprise Holdings, Europcar, Payless Car Rental, Rent-A-Wreck of America, Sixt AG, and The Hertz Corporation.
The research report titled Automobile Rental Company: A International Strategic Enterprise Report announced by Global Market Analysts, Inc., gives a comprehensive evaluation of marketplace trends, concerns, drivers, firm profiles, mergers, acquisitions and other strategic sector activities. The report gives marketplace estimates and projections in US$ Million for key geographic markets which includes the US, Canada, Japan, France, Germany, the UK, Italy, Spain, Russia, Asia-Pacific, Latin America and the Middle East. Segments analyzed by rental places include airport and non-airport, and segments analyzed by sectors include Leisure, Enterprise and Insurance Replacement.
For much more specifics about this comprehensive market place analysis report, please visit
http://www.strategyr.com/Automobile_Rental_Company_Industry_Report.asp
About Global Business Analysts, Inc.
Global Business Analysts, Inc., (GIA) is a leading publisher of off-the-shelf marketplace research. Founded in 1987, the company currently employs more than 800 people worldwide. Annually, GIA publishes more than 1300 complete-scale research reports and analyzes 40,000+ industry and technology trends even though monitoring a lot more than 126,000 Organizations worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world?s biggest and reputed industry research firms.
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International Industry Analysts, Inc.
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