The Luxury Car Rental Market Reach USD 70.4 Billion Globally by 2032 Growing at 9.4% CAGR

WILMINGTON, DE, UNITED STATES, October 18, 2024 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " The Luxury Car Rental Market Reach USD 70.4 Billion Globally by 2032 Growing at 9.4% CAGR." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global Luxury Car Rental Market size was valued at $30.3 billion in 2022, and is projected to reach $70.4 billion by 2032, growing at a CAGR of 9.4% from 2023 to 2032.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 – 305 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A12260

The growth of the luxury car rental market is intricately tied to key determinants across its segmented landscape. In the business rental type, the escalating demand is propelled by the corporate sector's increasing need for transportation solutions, particularly for executive travel and high-profile events. Simultaneously, the leisure rental type thrives on the desire for recreational pursuits, with consumers seeking exclusive experiences and stylish transportation for special occasions. The growth in the online booking mode type is driven by the influence of digital trends, providing tech-savvy consumers with seamless, real-time booking experiences. Meanwhile, the offline booking mode type sustains growth by preserving a classic touch and delivering personalized assistance.

The global 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.

𝐈𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬, 𝐏𝐥𝐞𝐚𝐬𝐞 𝐟𝐞𝐞𝐥 𝐟𝐫𝐞𝐞 𝐭𝐨 𝐜𝐨𝐧𝐭𝐚𝐜𝐭 𝐨𝐮𝐫 𝐚𝐧𝐚𝐥𝐲𝐬𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/A12260

Based on rental type, the leisure luxury car rental segment held the highest market share in 2022, accounting for more than half of the global luxury car rental market revenue, and is estimated to maintain its leadership status throughout the forecast period. Meanwhile, the business segment is projected to hold a suitable CAGR of 7.7% during the forecast period.

Based on booking mode type, the online segment held the highest market share in 2022, accounting for around three-fifths of the global luxury car rental market and is projected to grow at a CAGR of 11.0% during the forecast period. Meanwhile, the offline segment is projected to hold a suitable CAGR of 6.3% during the forecast period.

Based on end-user, the self-driven segment held the highest market share in 2022, accounting for more than three-fifths of the global luxury car rental market, and is projected to grow at a CAGR of 7.5% during the forecast period. Meanwhile, the chauffeur-driven segment is projected to hold a suitable CAGR of 12.6% during the forecast period.

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A12260

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global luxury car rental market revenue. However, Asia-Pacific is projected to hold a suitable CAGR of 12.2% during the forecast period.

Key players profiled in industry include Auto Europe, Paddock Rent a Car, Hertz Dream Collection, Enterprise Holdings Inc., Sixt Luxury Cars, DTG Operations, Inc. (Thrifty Car Rental), Europcar, Avis Prestige, Red Fox Luxury Lifestyle Ltd., Budget Rent A Car System Inc.. Market players have adopted various strategies, such as product launches, collaboration & partnership, joint ventures, and acquisition to expand their foothold in the industry.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐔𝐩𝐭𝐨 𝟓𝟎% 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 (305 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/luxury-car-rental-market/purchase-options

𝑲𝒆𝒚 𝑫𝒆𝒗𝒆𝒍𝒐𝒑𝒎𝒆𝒏𝒕𝒔 𝒊𝒏 𝑳𝒖𝒙𝒖𝒓𝒚 𝑪𝒂𝒓 𝑹𝒆𝒏𝒕𝒂𝒍 𝑰𝒏𝒅𝒖𝒔𝒕𝒓𝒚

The leading companies are adopting strategies such as acquisition, agreement, expansion, partnership, contracts, and product launches to strengthen their market position.

● In November 2023, Hertz partnered with EVgo Inc. to offer one year of special charging rates to drivers renting any EV model at a Hertz location across the country. EVgo is one of the leaders in charging solutions, building and operating the infrastructure and tools needed to expedite the mass adoption of electric vehicles for individual drivers, rideshare and commercial fleets, and businesses.

● In February 2023, Sixt Luxury Cars opened a new rental car branch service for passengers arriving at Toronto Pearson International Airport (YYZ) to supply Canada's largest city with premium rental cars. It serves two markets in Canada, Vancouver andamp; Toronto, as it continues to expand its coverage throughout the Canadian market.

● In August 2022, Enterprise Holdings Inc. partnered with GO Rentals to extend its global network. Furthermore, GO Rentals has secured the right to operate the Enterprise Rent-A-Car, National Car Rental, and Alamo Rent a Car brands in New Zealand. This strategy further helps in expansion in the New Zealand market, especially given the recent reopening of New Zealand to international travel.

● In June 2022, Avis Australia expanded its business and started a new brand Avis Prestige. Avis Prestige enables customers to hire Sports Cars, Supercars, and Premium Luxury Cars, with models including the Lamborghini Huracan, Rolls-Royce Ghost, McLaren 57OS, Ferrari 488, Bentley Continental GT plus, and many more.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

𝑶𝒕𝒉𝒆𝒓 𝑻𝒓𝒆𝒏𝒅𝒊𝒏𝒈 𝑹𝒆𝒑𝒐𝒓𝒕𝒔:

1. SOC as a Service Market : https://www.alliedmarketresearch.com/soc-as-a-service-market-A14544
2.Payment as a Service Market : https://www.alliedmarketresearch.com/payment-as-a-service-market-A15430
3. Webtoons Market : https://www.alliedmarketresearch.com/webtoons-market-A16830

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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