Car Rental Market Size To Reach $278.03 Billion By 2030
The global car rental market size is anticipated to reach USD 278.03 billion by 2030, registering a CAGR of 11.2% from 2023 to 2030, according to a new study by Grand View Research, Inc. Considerable growth in the world tourism sector is one of the critical factors propelling the market growth. Additionally, increasing pollution, rising car prices, and the cost-effective nature of car rental services are some of the other key factors boosting the growth of the market. The market has witnessed significant attention in the last decade due to the increased use of smartphone-based online booking applications. Bookings/reservations through rental stations have witnessed a decline in recent years since online booking allows users to plan and book vehicles quickly and in advance. Also, the internet offers a convenient way to browse through various websites of car rental providers and get access to numerous options and offers. Car rental operators in developed countries, such...