Ken Research: Latvia, Belgium, Ukraine to Help Stimulate European Car Rental Growth

Ken Research’s report "Europe Car Rental Industry Analysis to 2017 — Latvia, Belgium and Ukraine to Stimulate the Market Growth" presents an analysis of the car rental industry in Europe over the past seven years from 2006-2012.

The report covers market size by revenue and market segmentation by on-airport and off-airport rental locations in Germany, France, the U.K., Italy and Spain. Additionally, it includes information about the growing markets of European countries such as the Netherlands, Switzerland, Belgium, Russia, Latvia and Ukraine.

In 2007, the market proceeds from the car rentals in Europe were valued at $13,300.00 million, which advanced to $14,000.00 million in 2008, according to the report. This marked a significant growth of 5.26% in the same year. However, owing to adverse global economic scenario, the revenues from the car rentals in Europe stagnated in 2009.

Here are a few findings from Ken Research’s report:

  • Europe car rental revenue from the off-airport segment has escalated at an average annual growth rate of 1.67% over the period 2006-2012 from $7,624.20 million in 2006.
  • Car rental industry in Europe is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 3.85% over the span of 2012-2017

The European car rental industry will be driven mainly by the expansion of tourism and travel industry in various European countries, buoyed by government initiatives, according to the report. The rising household income of travelers will continue to fuel increasing demand for leisure trips. Additionally, international trade in the European region will continue to sustain demand from business travel in different countries of Europe, says the report.

For more information on the Ken Research report, visit http://www.kenresearch.com/automotive-transportation/car-rental/europe-car-rental-market-research-report/439-100.html

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