Automotive equipment rental market development strategies by leading players Avis Budget, Blueline Rental



2021-2030 Automotive Equipment Rental Market Analysis by Allied Market Research. The global market segmented by vehicle, end user, mode and region.

PORTLAND, ORAGON, UNITED STATES, November 8, 2021 / — The automotive equipment rental market includes sales of automotive equipment rental or leasing services by entities (organizations, sole traders, and partnerships) that supply passenger cars and trucks / vans, utility trailers and unmanned recreational vehicles (RVs) nor utility trailers. These establishments generally operate a facility similar to a retail store for the rental and leasing of automotive equipment. Some auto equipment rental and leasing companies offer short or long term rentals, while others offer both types of service. The automotive equipment rental market is segmented into passenger car rental; rental of private cars; and the rental and leasing of trucks, utility trailers and RVs (recreational vehicles). The Asia-Pacific market is expected to grow significantly in terms of CAGR throughout the forecast period, owing to the increased availability of travel and tourism as well as the increasing availability of high-end luxury and economy vehicles, especially in developing countries in this region.

Major players analyzed in the report include Avis Budget, Blueline Rental, Daimler Group, Enterprise Holdings, H&E Equipment Services, Home Depot Rentals, LeasePlan, Sunbelt Rental, The Hertz Corporation, and United Rental.

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COVID-19 impact assessment

The global COVID-19 pandemic has devastated economies around the world, and the impact is being felt on businesses across all verticals and has had a particularly hard impact on transportation services. The challenges that have emerged from the Lockdown of the Globe are immense and overwhelming in many areas. As the COVID-19 epidemic forces businesses to increasingly require their employees to work from home, commuting and non-essential travel have declined significantly, leading to a significant drop in rental activity of cars. Auto equipment rental companies are in distress due to temporary lockdowns to prevent the spread of the COVID-19 epidemic. Once the lockdown is lifted, companies must follow safety protocols such as body temperature analysis, social distancing, and ensure high standards of disinfection, which will increase costs. The global financial crisis alone has driven the adoption of rental cars. After the pandemic, as safety and hygiene became a necessity, automobile disinfection techniques were strictly followed. The need for individual mobility and standards of social distancing are expected to improve conditions for the industry. The subscription model has become the face of the auto equipment rental industry in recent times. Because this model allows the client to benefit from temporary ownership without worrying about additional costs such as maintenance and insurance premiums.

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Main impact factors

The boom in auto leasing adoption, increased awareness of the benefits of leasing, and the shift from buying to auto leasing are driving the growth of the market.
Cost of original equipment at time of collisions is expected to hinder market growth
The increased adoption of business software and innovations in mobility technologies provide an opportunity for market investments.

The trends in the global automotive equipment rental market are as follows:

Increased awareness of the benefits of leasing

The rapid expansion of many other industries globally and internationally has significantly expanded the market for shared mobility to travel within the country. The increase in the use of auto leasing by companies has rapidly increased the awareness of ordinary people looking for the advantages they get over other options available. This promotes the growth of the market during the forecast period.
People move from buying to leasing vehicles

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The increase in traffic and pollution in most of the developed cities has encouraged buyers not to buy their vehicles and to use shared mobility or to rent a car for the required duration in exchange for paying the rents on time. This is expected to drive the market growth throughout the forecast period.

Main advantages of the report:

This study presents the analytical description of the global automotive equipment rental market along with current trends and future estimates to determine impending pockets of investment.
The report presents information related to key drivers, restraints, and opportunities as well as challenges for the global automotive equipment rental market.
The current market is quantitatively analyzed from 2020 to 2030 to highlight the growth scenario of the global automotive equipment rental market.
The report provides a detailed analysis of the global automotive equipment rental market based on the competitive intensity and competition that will take shape in the coming years.

Questions Answered in the Global Automotive Equipment Rental Market Research Report:

Who are the major market players active in the global automotive equipment rental market?
What would be the detailed impact of COVID-19 on the market?
What are the current trends that will influence the market in the coming years?
What are the driving factors, restraints, and opportunities in the global automotive equipment rental market?
What are the future projections that could help to take new strategic actions?

About Us

Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

We have professional relationships with various companies, which helps us extract market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecast. Allied Market Research CEO Pawan Kumar helps inspire and encourage everyone associated with the business to maintain high quality data and help customers in every way possible to be successful. Each of the data presented in the reports we publish is taken from primary interviews with senior officials of the main companies in the field concerned. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with industry-savvy professionals and analysts.

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