Car rental continued to post a good performance in 2017, profiting from its well-developed business segment. In 2017, business car rental accounted for 83% of overall value sales in car rental. In addition, the prices of car rental for business customers are usually much higher compared with those for private customers. This enabled business car rental to post 4% current value growth in 2017, which benefited overall car rental. Observing the review period CAGR in value terms, however, in 2017 value growth posted a marginal slowdown.
Over the forecast period, car rental is anticipated to post a value CAGR of 2% at constant 2017 prices, continuing to profit from the good performance of the business segment. Business car rental is expected to post a 2% CAGR in value terms at constant 2017 prices over the forecast period, accounting for 85% of overall sales in car rental in 2022. Leisure car rental is expected to register a negative value CAGR at constant 2017 prices in the forecast period, accounting for 12% of total car rental value sales in 2022.
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This industry report originates from Passport, our Travel And Tourism market research database.