PRLog - Jan. 16, 2014 - PITAM PURA, India -- Spain car rental industry has showcased considerable changes in its growth in the past seven years. The industry is anticipated to grow at a higher pace in the next five years from 2013-2017, majorly owing to the revival in the economy, expanding off-airport car rental market and an inclination in the corporate and vacation trips by Spanish as well as inbound travelers in the country. The demand of rented cars is expected to upsurge in Spain with an increase in the number of tourist arrivals from different countries, which will escalate the growth of car rental industry in Spain in the near future. Over the past few years, the market for car-sharing has gained increasing traction in the country. Several major car rental companies have been witnessed to enter into carpooling business by providing their car sharing facilities to the customers with technological advancements. Zipcar, a major car sharing company in Spain, is expected to put in increasing efforts to further strengthen the market for car sharing in the country. Additionally, the market for car-sharing is projected to expand their reach in downtown places in the coming years.
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The market players have been witnessed to place a greater emphasis on off-airport market segment in the country as it helps the companies to expand to diverse locations with lower staff requirement. The revenues for off-airport segment market have also been advancing owing to the increasing demand as it provides the facilities of pick and drop services apart from also dealing in replacement and leasing rentals. The segment is also estimated to grow at a rapid pace due to the huge development of Spanish High Speed Railway Station known as AVE in more places of the country after 2013, which will strengthen the demand for rented cars in the nearby areas of the station, in turn expanding the car rental business of the country in future.
The future prospects of the car rental market in Spain seems favorable with rising international and domestic tourism in the country and expanding off-airport rental locations for the convenience of vacationers and corporate people. Additionally, the substantial growth of carpooling business is expected to strengthen the industry outlook in Spain in the next five years.
According to research report, “Spain Car Rental Industry Analysis to 2017: Driven by Short term Online Car Rental Bookings”, Spain car rental market is estimated to grow at a CAGR of 2.64% over the period of 2012-2017, on account of significant growth in off-airport market, escalation in the demand for short term car rentals majorly for business purposes by Spanish people which will bolster the market in future.
The provides detailed overview on Spain car rental industry and helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, car rental companies to align their market centric strategies according to ongoing and expected trends in the future.
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