What will the car rental market size be in 2020?

Based on a recent study released by Future Market Insight broadcasted by AutoRentalNews the worldwide car rental market will grow from an estimated 52 billion USD to 106 billion USD in 2020. The FMI report estimates that the global car rental market will therefore more than double in five years.

Assuming that the US is currently the oldest and biggest market for car rental in the world, this region may therefore reach its limit (the US market has been still increasing by +6% since 2010).

The report predicts that the main growing sources will be:

1. Latin America led by Brazil with already 770,000 units available for rent through more than 5000 rental companies.
2. India grew up already by +20% from 2009 to 2014 according to Ken Research analysis. Even though, it is still a small and very fragmented market, the potential is huge.
3. China, similar to India with low penetration and fragmentation. However, the market boosted from 1,8 billion USD in 2009 to 4,1 in 2014 and is estimated to reach 9 billion USD in 2017.
4. Eastern Europe where the market is not yet penetrated by major car rental like in Western Europe. In addition to Tourism in these countries, economic development sponsored by European Community generates a middle class with a comparatively smaller percentage of car ownership.