Global directory of car hire companies. The global car rental market reached a value of US$ 93.7 Billion in 2020. Looking forward, the publisher expects the market to reach a value of US$ 144.7 Billion by 2026, growing at a CAGR of 7.2% during 2021-2026. Car rental refers to the facility of renting automobiles temporarily for a predefined period through online or offline channels. Car rental services are primarily aimed at serving travelers and individuals who do not own private vehicles. Renting automobiles is considered to be a more cost-effective alternative to owning a vehicle as it offers freedom of movement, low-cost traveling and enables the evasion of high ownership costs. The service providers also offer various other products, such as car damage repair, insurance compensation policies, entertainment systems, global positioning systems (GPS) and Wi-Fi networks, for providing enhanced convenience to users.