Report : Netherland Car Rental Services Market Forecast to 2028 - COVID-19 Impact and Analysis by Rental Location (Non-Airport and On-Airport & Train Station), Car Category (Mini & Economy, Compact & Intermediate, Standard, Full Size, Premium, Luxury, and Special), and Customer Type (B2B and B2C)
Dire Need for Reducing Road Traffic and its Consequences Fuels Netherland Car Rental Services Market
As per the latest market study on “Netherland Car Rental Services Market Forecast to 2028 – COVID-19 Impact and Analysis – by Rental Location (Non Airport and On Airport & Train Station), Car Category (Mini & Economy, Compact & Intermediate, Standard, Full Size, Premium, Luxury, and Special), and Customer Type (B2B and B2C),” the market is projected to reach US$ 1,138.91 million by 2028 from US$ 653.68 million in 2021; it is expected to grow at a CAGR of 8.3% from 2021 to 2028.
Being an integral part of the booming travel industry, car rental service providers are aggressively infusing technological improvements in their service methodologies to attract a broader consumer base. The rising number of consumers using smartphone apps to view and book holidays on the go has resulted in a shift of car rental service companies toward a mobile-based approach. This has led to a larger number of car rental companies in the Netherlands focusing on innovation to reinvent rental by adopting a customer-centric platform through an enhanced rental experience. Furthermore, the use of advanced communication technologies, such as connected mobility technology, allows companies to have real-time coverage of the number of cars in their fleet, their location, and their conditions. Additionally, the integration of Application Programming Interfaces (APIs) to help streamline the renting process, for both the company and the customer, is likely to create ample growth opportunities for the car rental service market in the near future. For instance, a leading end-to-end transport technology solutions provider, CarTrawler, provides a cost-effective choice for smaller, niche-oriented car rental companies by eliminating the usual GDS fees. Notably, the CarTrawler model enables the car rental companies to pay a commission only after the payment by the consumer at the rental counter. The market is marked by consistent advancements that create ample growth opportunities. Several car rental providers are focusing on offering advanced technology-driven solutions to their customers for enhanced customer experience to gain a leading position in the market. For instance, in October 2019, Enterprise Holdings introduced Entegral, an integrated software solution capable of simplifying the post-accident process, which enables service providers to get customers on their way, back into their cars. Similarly, Avis added a split bill function into its app to enable travelers to split rental charges between personal and business credit cards.
The rising road traffic continues to be one of the ongoing challenges that major urban centers in the Netherlands are facing. The alarming rate of rise in the number of owned cars increases accident risk, fuel consumption, and CO2 emission into the environment. The adverse impact of road traffic across the country is changing customer behavior and habits; for instance, the consumer attitude toward owning a car. Notably, the transition of customer preference in the Netherlands from personally owned vehicle toward the adoption of rental service is reducing the road traffic in the country. The adoption of car rentals or car-sharing enables a reduction in the volume of vehicles in urban locations, along with a reduction in greenhouse gas emissions. Interestingly, studies conducted in the Netherlands show that the provision of car rental services led to a considerable reduction in the number of privately owned vehicles by about 30%, reducing the number of kilometers driven by 15–20%, further reducing the exhaust emissions. Notably, the Dutch government is taking several steps to prevent climate change through goals and measures laid down and agreed upon in the Climate Act and the National Climate Agreement. Therefore, the rising need of the hour to reduce road traffic and the consequent problems associated with it, coupled with the policy support of the Dutch government, is driving the growth of the car rental service market in the Netherlands.
The Netherland car rental services market is segmented into rental location and customer type. Based on rental location, the market is segmented into non-airport and on airport & train station. In terms of customer type, the car rental services market is bifurcated into B2B and B2C.
The key companies profiled in the car rental services market include Avis Budget Group, Inc; Europcar Mobility Group S.A; AB Car Rental Bonaire; Green Motion International; Sixt SE; The Hertz Corporation; Enterprise Holdings; ALD Automotive; Arval BNP Paribas Group; and Athlon Car Lease International B.V. Several other players are also functioning in the market countrywide, contributing significant revenue shares year-on-year.
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