The Latin America, Middle East and Africa Car Rental Market would witness market growth of 7.1% CAGR during the forecast period (2021-2027).
Car rental services refer to the procedure of hiring/renting a car from a rental firm for a specific amount of time. Various organizations, such as Uber Technologies and Europcar, rent vehicles for a short length of time, ranging from a few hours to several weeks. The company rents a variety of cars, including luxury cars, executive cars, and economy cars, among others. Additionally, car rental companies provide additional services such as insurance, entertainment systems, and GPS, among others.
The hotel and airline industries aren't the only ones hoping to profit handsomely from the Dubai Expo 2020. The much-anticipated event is also likely to boost car rentals. Vehicle rental providers all over the UAE are working overtime to meet the high demand for rented mobility choices that are expected to surge during and after the expo.
Fast Rent A Vehicle, an Abu Dhabi-based car rental company that is celebrating its 25th year in business this year, has announced that it will invest AED60 million and open 10 new facilities around the UAE ahead of the big event.
The Brazil market dominated the LAMEA Car Rental Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1.95 billion by 2027. The Argentina market is estimated to grow a CAGR of 7.7% during (2021 - 2027). Additionally, The UAE market would witness a CAGR of 6.9% during (2021 - 2027).
Based on Application, the market is segmented into Airport Transport, Outstation, Local usage and others. Based on Vehicle Type, the market is segmented into Economy cars, Executive cars, Luxury cars, SUVs and MUVs.Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Car Rental Market is Predict to reach $125.6 Billion by 2027, at a CAGR of 4.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Avis Budget Group, Inc., Europcar Mobility Group, Enterprise Holdings, Inc., Hertz Global Holdings, Inc., Localiza, SIXT SE, Eco Rent a Car, ANI Technologies Pvt. Ltd. (Ola Cabs), and AVR Qatar, Inc.
By Application
By Vehicle Type
By Country
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