Avis Budget Group(CAR) GlobeNewswire News Room·2025-05-09 11:10Market Overview - The global market for Automotive Equipment Rental and Leasing was valued at US976.0 Billion by 2030, growing at a CAGR of 13.5% from 2024 to 2030 [1][14]. Market Trends & Drivers - The automotive equipment rental and leasing market is gaining momentum due to rising demand for flexible vehicle ownership models and cost-effective solutions [3][6]. - Consumers and businesses are increasingly opting for rental and leasing options to reduce upfront capital expenditures, particularly in urban areas where ownership costs are high [4][7]. - The growth of ride-sharing services and corporate fleets is driving the preference for leasing over purchasing, allowing for cash flow flexibility and access to the latest vehicle models [5][6]. - Key factors driving growth include shifting consumer preferences, technological advancements in fleet management, and the rise of shared mobility services [6][7]. Segment Analysis - The Passenger Car Rental segment is expected to reach US120.1 Billion in 2024, and China is forecasted to grow at an impressive 17.8% CAGR to reach $228.9 Billion by 2030 [11]. Tariff Impact Analysis - Global tariff negotiations across 180+ countries are reshaping supply chains, costs, and competitiveness, with the report reflecting the latest developments as of April 2025 [12][13]. - The report includes tariff-adjusted market forecasts by region and segment, analyzing cost and supply chain implications [17]. Company Profiles - The report covers key players in the market, including A-Aerial Service Company Inc., Affiliated Car Rental, Amazing RVs, American Dream Vacations, and Avis Budget Group, Inc. [16][21].