KEY FINDINGS The global car subscription market is set to progress with a CAGR of 20. 56% during the forecasted period of 2021 to 2026. The market growth is primarily attributed to key factors such as hassle-free experiences, financial viability, the flexibility of options, and increased popularity among the younger generation.
New York, July 21, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "GLOBAL CAR SUBSCRIPTION MARKET FORECAST 2021-2026" - https://www.reportlinker.com/p06105895/?utm_source=GNW
A car subscription gives the vehicle’s possession to the individual for a monthly subscription fee.The subscription period is likely to differ from a month to over a year, based on the customer’s requirements.
Car subscriptions also offer the flexibility of swapping the vehicle for another car available under the company’s subscription model.
A flexible car subscription service enables the individual to extend their subscription period or even return the vehicle before the expiration of the term with a specific penalty.This factor permits a subscriber to drive a varied range of vehicles.
Furthermore, the flexibility of swapping vehicles appeals to 1 in 4 consumers. This mainly includes the Millennials and Gen Z, with approximately one-third of those groups indicating that they prefer driving various cars.
The global car subscription market growth assessment includes an in-depth analysis of the Asia-Pacific, North America, Europe, and the Rest of World.The Asia-Pacific is anticipated to develop with the highest CAGR during the forecasted years.
The regional market’s growth is predominantly credited to significant technological advancements within the transportation sector as well as the flexibility of the car subscription model.
The leading regional and global players operating in the market include OEMs and third party service providers.These companies heavily invest in the development of car subscription solutions and introduce better solutions into the market.
In addition, the competition is intense among both global and domestic vendors. Therefore, the threat of rivalry within the global market is high.
Some of the key firms operating in the market are Avis Budget Group, Hertz Global, LMP Automotive Holdings, Enterprise Holdings, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
1. AVIS BUDGET GROUP
2. DROVER LIMITED (ACQUIRED BY CAZOO LTD)
3. ENTERPRISE HOLDINGS
4. HERTZ GLOBAL
5. HYUNDAI MOTOR
6. LMP AUTOMOTIVE HOLDINGS
7. MARUTI SUZUKI INDIA LIMITED
8. NISSAN MOTOR CORPORATION
9. PORSCHE AUTOMOBIL HOLDING SE
10. SIXT SE
11. TOYOTA MOTOR CORPORATION
12. VOLVO CARE
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