United Kingdom Car Rental Market Grows With Surging Demands For Passenger Cars
Environmental
conditions and active steps to save it drives the United Kingdom Car rental Market
in upcoming five years.
According to TechSci report on, “United
Kingdom Car
Rental Market - By
Region, Competition Forecast & Opportunities, 2027”. United
Kingdom car rental market may flourish with an impressive CAGR during the
forecast period of 2023-2027, on the backbone of surging demands for the
affordable car hire services. Rising demands for the long route travel for
business or leisure trips are majorly responsible for the growth of the United
Kingdom car rental market in the future years. Increased use of internet based
car rental service, higher prevalence of the mobile applications to support the
car hire services across country is also driving the growth of the United Kingdom
car rental market in the upcoming five years. Higher sales of passenger cars,
electric vehicles, commercial vehicles facilitate the market growth in upcoming
years. Increased investments in the availability of the executive and premium
vehicles and advanced services as per consumer demands further support the
growth of the United Kingdom car rental market in the next five years. Rapidly
increasing pollution and exhausts of the automotives has effectively shifted
the preferences toward electric vehicles. Demands for the green fuel,
decreasing the environment harming gases, are need of the hour and this has
influenced the consumers to opt for electric vehicle rentals if they do not own
electric vehicles personally, that also supports the growth of the United
Kingdom car rental market in the future five years. Consistent research and
technological advancement in the electric vehicles are also responsible for the
effective growth of the United Kingdom car rental market.
Increasing
financial support from the government and privatization of the car rental services
are also substantiating the growth of the United Kingdom car rental market in
the forecast years through 2027F. Growing number of the market players
investing in advancing the services and automotives, as well as the development
of the infrastructure with localized approach to provide efficient services
further facilitate the growth of the United Kingdom car rental market in the
forecast period.
Browse over XX market data Figures
spread through 70 Pages and an
in-depth TOC on "United Kingdom Car rental Market"
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The
United Kingdom car rental market is segmented by vehicle type, channel, type,
end use, competitional landscape, and regional distribution. Based on vehicle
type, the market is further segmented into economy, executive, and luxury. Economy
vehicles are anticipated to hold the largest revenue shares of the market and
dominate the market segment in the upcoming five years in the ground of
increasing demand for the car rental hires. Also, the economy vehicles are well
equipped for the shorter distance travel for the single passenger commute and
thus providing a personal travel experience for the commuter, thereby aiding
the growth of the United Kingdom car rental market in the next five years.
Premium vehicles may also hold significant growth in the future years due to
rising disposable income among the population. Surge in the demand for luxury
traveling and leisure traveling further substantiates the segmental growth as
well as the growth of the United Kingdom car rental market in the future five
years.
By
channel, the market is differentiated between online and offline distribution
channel. Based on type, the market is distinguished between self-driven and
chauffer driven. By end use, the market is bifurcated into local, airport, and
outstation. The market analysis also studies the regional segmentation to
devise regional market segmentation, divided among London, East Anglia,
Southwest, Southeast, Scotland, East Midlands, and Yorkshire & Humberside.
A
partial list of major market players of the United Kingdom car rental market
includes :
·
Lex Autolease Ltd.
·
Alphabet (GB) Ltd
·
Enterprise Rent-A-Car UK Ltd
·
LeasePlan UK Ltd
·
Europcar Mobility Group
·
Avis Budget Group Inc.
·
Hertz UK Ltd
·
SIXT SE
·
Dollar Rent A Car, Inc.,
·
Green Motion International
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“United Kingdom has an established market for the electric vehicle and
thus the development of car rental is facilitated due to it. The consumers are
actively opting for the electric vehicles while traveling through car rentals
is due to rising concern for the environment degradation. Also, electric
vehicle commutes are relatively affordable over traditional vehicles that
influences the consumer choices and drives the growth of the Untied Kingdom car
rental market. Demands for the electric vehicles, comfortable travelling,
coupled with demands for the green fuel working automotives influence the
growth of the United Kingdom car rental market in the future five years. Rising
investments in the advancement of the mobile apps facilitating the car rental services,
concern for the environmental degradation, and surging demand for the affordable
electric vehicle for rented travel is also actively influencing the growth of
the United Kingdom car rental market in the next five years. New market players
may focus on the research and development along with product development with
advanced technologies to support their brand establishment in the market
players,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“United Kingdom Car
Rental Market By Vehicle Type (Economy, Executive, Luxury), By Channel (Online,
Offline), By Type (Self Driven, Chauffer Driven), By End Use (Local, Airport,
Outstation), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of United
Kingdom car rental market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in United Kingdom car
rental market.
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