Growth of 3% in inbound arrivals into Norway in 2017 had a positive impact on the performance of the car rental category. Its performance was also bolstered by the weakness of the Norwegian krone, which made car rental a much cheaper option for most visitors. According to trade sources, foreign tourists generated most of the revenue growth recorded by leading players like Hertz and Avis, with these visitors increasingly choosing car rental as a practical way to experience the vast Norwegian landscape.
Leading international operators like Hertz, Avis and Europcar are expected to be the strongest performers in car rental over the forecast period. The trend towards more intense price competition in the category will favour these large players much more than it will smaller independent players with lower revenue streams and tighter margins. This is likely to result in the closure of many independent businesses, with larger players steadily increasing their value shares towards 2022.
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Discover the latest market trends and uncover sources of future market growth for the Car Rental industry in Norway with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Travel And Tourism market research database.