As per a new market research study, the European vehicle rental market is expected to grow at a rapid pace during the period of 2017-2021.
This research report presents a comprehensive outlook of the vehicle rental market in the UK by rental type (local transport, outstation transport and airport transport). The report even determines the geographic breakdown of the car rental market in terms of detailed analysis and impact. This includes key geographies in Eastern Europe and Western Europe.
Vehicle or van rental service is comparatively developed in the industrialised economies. A car rental company is one which provides vehicles on rent for short periods of time, usually ranging from a few weeks to few hours. Reputed vehicle rental providers specialise in offering van hire in Huntingdon and various areas all over the UK. These companies focus highly on fulfilling their customer’s requirements, innovation, growth and offers flexible services.
What Drives The Car Rental Market Growth?
The vehicle rental market in Europe is primarily driven by the constant rise in the tourism industry. The rush in international tourism is set to benefit the airport transportation sector of the vehicle rental market in Europe. Rising demand from tourists will propel the annual growth approximately by 3% to 4% during the forecast period.
Rising disposable income and healthy economic growth are expected to drive the growth of the vehicle rental market in the years to come. Moreover, the rising demand for the smart technology and internet are going to be the main factors driving the market at a fast pace.
The car rental market is highly competitive with many regional, international and community-based vehicle rental service providers. Companies are competing on the basis of fleet size, pricing, marketing expertise and car rental location. Even established companies which excel in offering reliable van hire in St Ives are trying to come up with unique rental service offerings to maintain their competitive edge in this cut-throat environment.
Influence Of Telematics On Car Hire Industry
The Vehicle hire industry is constantly going through a transformation due to the telematics in car rental companies. An increasing number of vehicle rental service providers are adding navigation facilities and advanced telematics solutions to their cars. The industry is even witnessing the emergence of online booking and payment options for stress-free car booking and hiring.
How Do Van Rental Services Operate?
Reputed car rental companies operate flexible van hire in Spalding through a network of pick-up and drop-off points. These service providers offer a wide range of vans which customers can easily avail whenever required. Depending on their specific requirements, users can either rent vehicles for short periods or through monthly or annual plans.
The vehicle hire market in the UK has quite a few regional players and a few global players too. The local level competition in the developed countries of Europe is massive. Several large-scale companies are taking over smaller agencies to boost their presence in the rental market.
It can be easily said that a significant growth in the vehicle rental market will greatly benefit users too!