A study conducted by the Analytical Research Cognizance shows that the luxury car rental market is expected to grow by 20% over the next five years.
The Luxury Car Rental market was worth approximately $10 billion globally in 2016. Geographically, North America is the giant player who represents nearly 50% of the global market, followed by Europe, which representing approximately 29% market shares.
The Luxury Car Rental industry is highly concentrated in the world, with the top three companies capturing a combined 74% share of the global market. The largest company in the industry, Enterprise, is privately held, while the next two largest companies, Hertz and Avis Budget, are publicly traded. Each of these three players has made acquisitions of other well-known rental car brands—Enterprise Rent-A-Car owns Alamo and National, and Hertz owns Dollar and Thrifty.
The Luxury Car Rental market is forecasted to worth approximately $22.5 billion globally in the end of 2022. The CAGR (compound annual growth rate) during 2016-2022 is expected to reach 14.5%.
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We are ahead of game with a variety of luxury cars available at affordable hourly rates. Our fleet includes Rolls Royce, Mercedes, Maserati, and more.
Source: Reuters/Venture Capital News