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Canadian Car Rental Market Trends and Forecast
The future of the Canadian car rental market looks promising with opportunities in the business and leisure travel markets. The Canadian car rental market is expected to grow with a CAGR of 5.1% from 2021 to 2027. The major drivers for this market are growing tourism industry, increase in international air travelers, and rising income levels across the globe.
Emerging Trends in the Canadian Car Rental Market
Emerging trends, which have a direct impact on the dynamics of the industry, include enhanced user experience through digitization, additional green vehicles in the fleets of rental car companies, introduction of car management software, and the concept of vehicle subscription service.
A total of 53 figures / charts and 37 tables are provided in this 110-page report to help in your business decisions. A sample figure with insights is shown below. To learn the scope of benefits, companies researched, and other details of the Canadian car rental market report, please download the report brochure.
Canadian Car Rental Market by Segment
The study includes a forecast for the Canadian car rental market location type, customer type, mode of booking, vehicle type, as follows:
Car Rental Market by Location ($ Million Shipment Analysis from 2016 to 2027):
Car Rental Market by Customer Type ($ Million Shipment Analysis from 2016 to 2027):
Car Rental Market by Mode of Booking ($ Million Shipment Analysis from 2016 to 2027):
Car Rental Market by Vehicle Type ($ Million Shipment Analysis from 2016 to 2027):
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Luxury Cars
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Executive Cars
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Economy Cars
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Sports Utility Vehicles
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Autres
List of Car Rental Companies in Canada
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies car rental companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the car rental companies profiled in this report includes.
Canadian Car Rental Market Insight
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Lucintel forecasts that leisure customer will remain the largest market by customer type and it is also expected to witness the highest growth during the forecast period due to the rise in air travel and increasing domestic tourism
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On-airport will remain the largest segment over the forecast period due to increasing air traffic.
Features of Canadian Car Rental Market
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Market Size Estimates: Canadian car rental market size estimation in terms of value ($M).
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Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments.
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Segmentation Analysis: Canadian car rental market size by various segments, such as by location type, customer type, mode of booking, vehicle type in terms of value.
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Growth Opportunities: Analysis of growth opportunities in different segments for the Canadian car rental market.
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Strategic Analysis: This includes M&A, new product development, and competitive landscape of the Canadian car rental market.
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Analysis of competitive intensity of the industry based on Porter’s Five Forces model
FAQ
Q1. What is the growth forecast for Canadian car rental market?
Answer: The Canadian car rental market is expected to grow at a CAGR of 6.1% from 2021 to 2027.
Q2. What are the major drivers influencing the growth of the Canadian car rental market?
Answer: The major drivers for this market are growing tourism industry, increase in international air travelers, and rising income levels across the globe.
Q3. What are the major location types or end use industries for car rental?
Answer: On-airport is the major segment by location type for car rental.
Q4. What are the emerging trends in Canadian car rental market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include enhanced user experience through digitization, additional green vehicles in the fleets of rental car companies, introduction of car management software, and the concept of vehicle subscription service.
Q5. Who are the key Canadian car rental market companies?
Answer: Some of the key car rental market companies in Canada are as follows:
Q6. Which Canadian car rental market segment will be the largest in future?
Answer: Lucintel forecasts that leisure customer will remain the largest market by location type and it is also expected to witness the highest growth during the forecast period due to the rise in air travel and increasing domestic tourism.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 10 key questions
Q.1. What are some of the most promising, high growth opportunities for the Canadian car rental industry by location (on-airport and off-airport), Customer type (business, leisure, and others), mode of booking (on-line and off-line), vehicle type (luxury cars, executive cars, economy cars, sports utility vehicles, and others?
Q.2. Which segments will grow at a faster pace and why?
Q.3. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market? Q.4. What are the business risks and competitive threats in this market?
Q.5. What are the emerging trends in this market and the reasons behind them? Q.6. What are some of the changing demands of customers in the market? Q.7. What are the new developments in the market? Which companies are leading these developments? Q.8. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth? Q.9. What are some of the competing service and processes in this market and how big of a threat do they pose for loss of market share by service substitution? Q.10. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to compost market or related to Canadian car rental companies, Canadian car rental market share, Canadian car rental market analysis, Canadian car rental market size, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.