The US Car Rental Market Outlook to 2015 - Evolving Travelers' Profile

Date: November 22, 2011
Pages: 59
Price:
US$ 525.00
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Publisher: Ken Research Private Ltd
Report type: Strategic Report
Delivery: E-mail Delivery (PDF), Hard Copy Mail Delivery
ID: UC8B8E85712EN
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The US Car Rental Market Outlook to 2015 - Evolving Travelers' Profile
The report titled “The US Car Rental Market Outlook to 2015 – Evolving Travelers’ Profile” provides a comprehensive analysis on various aspects of car rental industry such as market size of overall car rental industry, on-airport and off-airport segment, online car rental segment on the basis of revenue and cars in services, market segmentation, competitive landscape of the major players operating in the country. The report also entails the SWOT analysis of major car rental players in the US.

The future projections are presented along with the cause and effect relationship between the market and several industry and macro-economic indicators providing an insight on the prospects in the US car rental market.

The car rental market in the US is a mature market which was valued at USD ~ million with ~ million cars in service in 2010. The market has consolidated over the period with a wave of several mergers and acquisitions which has strengthened the position of few players and has created complexities for the new entrants due to high initial costs and reduced economies of scale. The US car rental market is predominantly dependent on the behavior of the travelers. Total visitors using car rental services has risen from ~ thousand in 2005 to ~ thousand in 2010 propelling the growth of the US car rental market.

The US car rental industry generates a major share of its revenue from the on-airport segment of the market. The on-airport market in 2010 has showcased signs of recovery with the rise in air travel leading to an increase in the market share to ~% and market size of USD ~ million. On the other hand, off-airport market segment which constituted rest ~% of the total US car rental market revenue in 2010 has witnessed an incline in the market share as compared to ~% in 2005.

The visitors using car rental services in the US has showcased diverse characteristics over the period. The car rental services are usually easily available to all the types of visitors including business, leisure, domestic and overseas in the US, through several companies owned stores or franchise of several car rental agencies across the country. The concept of online booking has been rapidly changing the course of the business of the US car rental industry. This concept of e-booking or online booking of rental cars have provided the travelers an advantage to plan and book their cars in much quicker and easier way. In 2010, the online car rental users have increased to ~ million from ~ million users in 2005 underscoring the gaining popularity of online medium for car rental reservations.

The US car rental industry has been predominantly held by 4 major players such as Enterprise-Rent-A-Car, Hertz Global Holdings, Avis Budget Group and Dollar Thrifty Automotive Group. These major players share approximately ~% of the total US car rental market revenue. Enterprise Rent-A-Car with revenue of USD ~ million in 2010 has dominated the market for rental cars in the US with the share of ~%.

The US car rental market in the long run is expected to be more efficient with players moving towards the car sharing market in the densely populated areas such as Washington DC, New York and others. Additionally, opaque and online car rental segment will gain momentum with several leisure travelers switching to online reservations for relatively cheap rentals. The reduced fleet size and efficient yield management policy adapted by the players will also certainly change the course of the operations of the US car rental industry in the long run. It is expected that the market will grow at a CAGR of 5.25% in the next 5 years and will reach USD ~ million by 2015.

Key Topics Covered in the Report:
  • The market size of the US car rental industry and its segments including on-airport, off-airport, domestic and overseas car rental travelers, online/opaque car rental market on the basis of revenue, users and cars in services
  • Market segmentation of the US car rental industry and its segments
  • Recent trends and developments in the industry
  • Competitive landscape/ market share of the various players operating in the country in off-airport, on-airport and total car rental market
  • Future outlook and projections along with the cause and effect relationship between the market and industry factors on the US car rental industry
  • Company profiles of major car rental agencies including company overview, business strategies, financial and operating performance and SWOT analysis
1. THE US CAR RENTAL MARKET INTRODUCTION

2. THE US CAR RENTAL MARKET SIZE, 2005 – 2010

2.1. By Revenue, 2005 – 2010
2.2. By Cars in Service, 2005 – 2010
2.3. By Total Travelers Using Rental Cars in the US

3. THE US CAR RENTAL MARKET SEGMENTATION

3.1. By On-Airport and Off-Airport Revenue, 2005-2010
3.2. By Overseas and Domestic Travelers Using Car Rental, 2005-2010

4. THE US CAR RENTAL TRAVELER’S PROFILE

5. THE US CAR RENTAL MARKET TRENDS AND DEVELOPMENTS

Decline in Corporate Travels by Leveraging on New Technologies
Expansion in the Brand Portfolio
Emerging Opaque, Online and Mobile Car Rental Segment
Intensifying Competition in the Airport Locations due to the Entry of Local Players
Lowering Business Car Rental Prices to Increase the Profitability
Increasing Demand for Car Sharing or Short-Term Car Rental amongst the College Students and the Working Class

6. THE US CAR RENTAL MARKET COMPETITIVE LANDSCAPE

6.1. The US Car Rental Players’ Market Share by Revenue, 2005-2010
6.2. The US Car Rental Players On-Airport Market Share, 2005-2010
6.3. The US Car Rental Players Off-Airport Market Share, 2005-2010
6.4. The US Car Rental Players’ Market Share by Cars in Service, 2005-2010

7. THE US CAR RENTAL MARKET FUTURE OUTLOOK

7.1. Cause and Effect Relationship between Dependent and Independent Factors Prevailing in the US Car Rental Market
7.2. The US Car Rental Market Future Projections
  7.2.1. By Revenue, 2011-2015
  7.2.2. By On-Airport and Off-Airport Revenue, 2011-2015
  7.2.3. By Cars In Services, 2011-2015
  7.2.4. By Travelers Using Rental Cars in the US, 2011-2015

8. INDUSTRY FACTORS: CURRENT AND PROJECTIONS

8.1. Travel Price Index, 2007-2015
8.2. Travel Expenditure in USD Million, 2007-2015
8.3. Domestic Person-Trips in Million, 2007-2015
8.4. International Visitors to the US in Million, 2005-2015

9. THE US CAR RENTAL COMPANY PROFILES

9.1. Enterprise Rent-A-Car Company
  9.1.1. Company Overview
  9.1.2. Business Strategies
  9.1.3. Financial Performance
  9.1.4. SWOT Analysis
    Strengths
    Weaknesses
    Opportunities
    Threats
9.2. Hertz Corporation
  9.2.1. Company Overview
  9.2.2. Business Strategies
  9.2.3. Financial Performance
  9.2.4. SWOT Analysis
    Strengths
    Weaknesses
    Opportunities
    Threats
9.3. Avis Budget Group Inc
  9.3.1. Company Overview
  9.3.2. Business Strategies
  9.3.3. Financial Performance
  9.3.4. SWOT Analysis
    Strengths
    Weaknesses
    Opportunities
    Threats
9.4. Dollar Thrifty Automotive Group Inc
  9.4.1. Company Overview
  9.4.2. Business Strategies
  9.4.3. Financial Performance
  9.4.4. SWOT Analysis
    Strengths
    Weaknesses
    Opportunities
    Threats

10. APPENDIX

10.1. Market Definition
10.2. Abbreviations
10.3. Research Methodology
  Data Collection Methods
  Approach
  Variables (Dependent and Independent)
  Multi Factor Based Sensitivity Model
  Scenario Analysis
  Final Conclusion
10.4. Disclaimer

LIST OF FIGURES

Figure 1: The US Car Rental Market Size on the Basis of Revenue in USD Million, 2005-2010
Figure 2: The US Car Rental Market Size on the Basis of Cars in Services in Million, 2005-2010
Figure 3: The US Car Rental Market Size on the Basis of Total Travelers Using Rental Cars in the US, in Thousands, 2005-2010
Figure 4: The US Car Rental Market Segmentation on the Basis of On-Airport and Off-Airport Revenue, in Percentage, 2005-2010
Figure 5: The US Car Rental Market Segmentation on the Basis of Overseas and Domestic Travelers, in Percentage, 2005-2010
Figure 6: The US Online Car Rental Users in Million, 2005-2010
Figure 7: The US Online Travel Bookers in Million and Online Travel Booking Revenue in USD Million, 2005-2010
Figure 8: The US Car Rental Players’ Market Share by Revenue, in Percentage, 2005-2010
Figure 9: The US Car Rental Players’ On-Airport Market Share in Percentage, 2005-2010
Figure 10: The US Car Rental Players’ Off-Airport Market Share in Percentage, 2005-2010
Figure 11: The US Car Rental Players’ Market Share by Cars in Service, 2005-2010
Figure 12: The US Car Rental Market Projections by Revenue in USD Million, 2011-2015
Figure 13: The US Car Rental Market Projection by On–Airport and Off-Airport Revenue in USD Million, 2011-2015
Figure 14: The US Car Rental Market Projection by Cars in Services in Million, 2011-2015
Figure 15: The US Car Rental Market Projection by Travelers Using Rental Cars in Thousands, 2011-2015
Figure 16: The US Travel Price Index, 2007-2015
Figure 17: Travel Expenditure in USD Million, 2007-2015
Figure 18: Domestic Person-Trips in the US in Million, 2007-2015
Figure 19: International Visitors to the US in Million, 2005-2015
Figure 20: Enterprise-Rent-A-Car Revenue in USD Million, 2005 –2010
Figure 21: Hertz Revenue in USD Million, 2005 –2010
Figure 22: Avis Budget Revenue in USD Million, 2005 –2010
Figure 23: Dollar Thrifty Revenue in USD Million, 2005 –2010

LIST OF TABLES

Table 1: The US Car Rental Market Segmentation on the Basis of On-Airport and Off-Airport Revenue, in USD Million, 2005-2010
Table 2: The US Car Rental Market Segmentation on the Basis of International and Domestic Travelers Using Car Rental Services, in Thousands, 2005-2010
Table 3: The US Car Rental Travelers’ Characteristics, 2007-2010
Table 4: The US Car Rental Players’ Market Share by Revenue in USD Million, 2005-2010
Table 5: The US Car Rental Players’ On-Airport Market Share by Revenue in USD Million, 2005-2010
Table 6: The US Car Rental Players’ Off-Airport Market Share by Revenue in USD Million, 2005-2010
Table 7: The US Car Rental Players’ Market Share by Cars in Service, 2005-2010
Table 8: Cause and Effect Relationship Analysis between Industry Factors and Expected Industry Prospects of the US car rental industry
Table 9: Enterprise Rent-A-Car Revenue by On-Airport and Off-Airport in USD Million, 2005-2010
Table 10: Hertz Revenue by On-Airport and Off-Airport in USD Million, 2005-2010
Table 11: Hertz Revenue by Business and Leisure Travelers in USD Million, 2005-2010
Table 12: Hertz Operating Results, 2005-2010
Table 13: Avis Budget Revenue by On-Airport and Off-Airport in USD Million, 2005-2010
Table 14: Avis Budget Revenue by Business and Leisure Segment in the US, in USD Million, 2006-2010
Table 15: Avis Budget Operating Results in the US, 2005-2010
Table 16: Dollar Thrifty Segment Wise Revenue in USD Million, 2005-2010
Table 17: Dollar Thrifty Operating Results, 2005-2010
Table 18: Correlation Matrix
Table 19: Regression Coefficients Output
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