The Ecosystem of Italy Car Rental Market
Italy Car Rental Market is at a growing stage. The country has over ~ Market Players in Car Renting. Italy’s Car rental market is dominated by major players such as Europcar, Avis, Hertz, Rentalcars.com, Easycar.com, and many others Italy’s Car Rental Market is in the Growing stage owing to rising internet connectivity and smartphones penetration along with rising tourism.
- Italy Car rental market was valued at USD ~ Billion in 2021 and is projected to grow to USD ~ Billion by 2027, registering a CAGR of ~% in terms of revenue during the forecast period (2022P-2027).
- Leasys launched a new e-commerce feature that will make it possible to complete the purchase of cars online.
- Number of car rented is expected to grow at ~% in the forecasted period of 2022P-2027F in Italy.
Rising Rental Car Market: The Italy Car Rental Market revenue grew from ~ € Bn in 2017 to approximately ~ € Bn in 2022P and is forecasted to grow further into ~ €Bn opportunity by 2027F, owing to the increasing demand from tourists for business and leisure purposes hiring rental cars along with the Italy government’s decision to increase the tax-free travel allowance. The growing penetration rate of the internet and smartphones are driving more people to rent a car as the services are mainly provided through online platforms.
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Rising Tourism in The Country: The rise in domestic and international tourism across the country is likely to witness major growth in the market. In 2021, Domestic expenditure accounts for around ~% of total tourism spending. The contribution of travel and tourism spending is the key factor toward the Italian GDP. Such an increase in travel and tourism sectors across the country is witnessing major demand for car rental services, which in turn witnessing major growth for the market.
Growing Internet Connectivity: Rising internet penetration across the country and increase in use of smart phone application for online car rental booking is likely to witness significant growth for the market. For instance, in 2021, the number of active internet user in Italy counted more than ~ million, such an increase in use of internet will help to boost the market.
Analysts at Ken Research in their latest publication “Italy Car Rental Market Outlook to 2027F –Driven by Type of Market Structure (Organized and Unorganized), by Type of Car (small cars, Sedan, SUV), By Booking Type (online, offline) and By application (business, leisure) By Fuel Type (diesel, petrol, electric).” observed that Italy car sharing market is expected to showcase considerable growth in the coming five years. In the upcoming years, it is predicted to expand more rapidly due to increased population growth, a trend in the number of foreign tourists entering the nation, and an increase in the demand for carpooling. The Italy Car Rental Market is expected to grow at ~% CAGR over the forecasted period 2022P-2027F.
Key Segments Covered in the report: –
Italy car Rental Market
By Market Structure
- Organized market
- Unorganized market
By Type of Vehicles
- Small Cars/ Hatchbacks
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By Mode of Booking
By Fuel Type
Key Target Audience
- Car Rental Service Providers
- Car Rental Companies aiming to establish in the Italy
- Italy Automotive Industries
- Government Bodies & Regulating Authorities
- Venture Capitalist targeting the car rental market
- Automotive industry association
- Car Manufacturers
- Existing Car Rental Companies
- OEM Dealerships
- New Market Entrants
- Car Rental Associations
Time Period Captured in the Report:
- Historical Period: 2017-2022P
- Base Year: 2022P
- Forecast Period: 2022P-2027F
Key Topics Covered in the Report
- Executive Summary
- Country Overview of the Italy
- Overview of Automotive Industry in Italy
- Ecosystem and business cycle of Italy Car Rental Market
- Value Chain Analysis of Italy Car Rental Market
- Italy Car Rental Market Sizing, 2017- 2022P
- Market Segmentations of Car Rental Market in Italy
- Snapshots on different Car Rental Markets in Italy
- SWOT Analysis of Italy Car Rental Market
- Growth Drivers of Italy Car Rental Market
- Government regulations of Italy Car Rental Market
- Trends and Developments of Italy Car Rental Market
- Challenges of Italy Car Rental Market
- End User Analysis of Car Rental Market in Italy
- Competitive Analysis of Car Rental Market in Italy
- Future Outlook and Projections of Car Rental Market in Italy
- Analyst Recommendations
- Research Methodology
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