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.
Further key findings from the report suggest:
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 Details of Report @
https://www.grandviewresearch.com/industry-analysis/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.
About Us:
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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