The North America MUV rental market size is projected
to reach USD 7.76 billion by 2025, registering a CAGR of 4.0% from 2019 to
2025, according to a new report by Grand View Research, Inc. A combination of
factors such as an upsurge in the number of air travelers opting for vehicle
rental services and the growing adoption of renting recreational vehicles for
leisure purposes have fueled the regional market growth. Changing preferences
of demographics, regarding vehicle ownership, are expected to have a positive
influence on the market growth over the forecast period.
The increase in number of internet
users has encouraged numerous local and global players in the MUV rental
marketplace to have an international presence through their online website and
mobile applications. The regional MUV rental market is expected to undergo a transformation
from the conventional rental business operations to innovative business models.
The North America market has witnessed a significant growth over the past few
years owing to continuous economic growth. Numerous states in the U.S. are
establishing tie-ups with van rental companies for providing transport
facilities from airports to the city centers and other locations.
The key strategies adopted by the
prominent players to acquire a higher market share include replacement of older
fleet with newer ones, expansion of their operational reach, and adoption of a
competitive pricing model. Major companies across the region are implementing a
mix of operating models, including company owned stores, franchise, and
agencies. With the advent of state-of-the-art technologies, vehicle renting has
become a preferred option for travelers. Various players have started
introducing mobile apps for customers as these apps provide benefits such as
easy vehicle tracking and faster payment & booking process.
Browse full research report on North America MUV Rental
Market: https://www.grandviewresearch.com/industry-analysis/north-america-muv-rental-market
Further key findings from the report suggest:
- A majority of service providers in developed countries such
as the U.S. are increasingly implementing advanced technology solutions to
streamline the vehicle renting/booking processes
- The demand across the leisure group is high during the peak
seasons. Prominent players are providing premium services and offering
discounts & packages to frequent travelers
- The trend of renting camper vans or Recreational Vehicles
(RVs) has also increased in recent years. Tourists mainly prefer renting
RVs for traveling to remote locations or for camping purposes
- Some of the key players in the north america muv rental
market include Enterprise Holdings, Inc.; Dollar Rent A Car, Inc.; Budget
Rent A Car System, Inc.; and Sixt SE.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/north-america-muv-rental-market/request/rs1
Grand View Research has segmented the North America MUV rental
market on the basis of application, MUV type, and country.
North America MUV Rental Application Outlook (Revenue,
USD Million, 2015 - 2025)
- On-airport
- Off-airport
North America MUV Rental MUV Type Outlook (Revenue,
USD Million, 2015 - 2025)
- Passenger
Vehicles
- Cargo
Vehicles
North America MUV Rental Country Outlook (Revenue, USD
Million, 2015 - 2025)
- U.S.
- Canada
- Mexico
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For
more info visit @ https://www.grandviewresearch.com
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