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title: '**The Belgium Car Rental Market is showing a steady but assured recovery after being hit by the after effects of the Global Pandemic: Ken Research**'

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# **The Belgium Car Rental Market is showing a steady but assured recovery after being hit by the after effects of the Global Pandemic: Ken Research**

***Focus on tourism induced recovery, more technological advancements & customer loyalty are some of the factors that will induce steady recovery thereby developing the Belgium Car Rental Market.***

COVID19 pandemic affecting Market Growth: The global pandemic caused a huge devastation to the global economy. People were locked in as a result of which no transportation was in place & hence no cars were required. The industry suffered more so in the aftermath of the pandemic when a majority of population either lost their jobs or were fearful of the same happening to them as a result of which they decided not to spend large chunks on renting expensive cars. All in all, a very unpredictable decline was faced by the Belgium Car Rental Industry.

**Competitive scenario:** [Car Rental Market in Belgium](https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/c-outlook-2027/596237-100.html) & the other regions of Europe is moderately concentrated owing to the presence of a few big players namely Avis Budget, Sixth, Europcar, Hertz & Enterprise-rent-a-car serving as dominant & active entities in the industry. Global giants enter the market through strategic partnership with local players by way of franchise, acquisition or merger. The competition amongst the entities is on the basis of price, quality of service being provided, ease of car rental & return, vehicle reliability, vehicle availability, product innovation, rental location, local & international distribution & the seamless process of car renting.

![](https://i.imgur.com/RbJJP8x.jpg)
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Car Sharing Market: The car sharing market in Belgium & other parts of Europe has been growing owing to an increase in the number of key players in the national & international landscape. The market has been crowded by the presence of only a few players which has its good & bad effects. On one hand, where consumers do not have to think much before going for a car rental company, on the other hand, a situation of these giants controlling the market prices is likely to be created thus exploiting the industry. A few major players in the market are Ubeeqo, Sharenow, Zipcar etc.

High Vehicle & Maintenance cost: Europeans on an average spend USD 25,000 on new cars. The actual cost incurred when purchasing a car includes taxes, insurance, maintenance, regular gasoline expenses & other costs which are often overlooked. Cars in Europe generally come equipped with features that enhance acceleration, speed, safety, passenger comfort & entertainment which ultimately increases the overall cost. Moreover, when there are so many features that come along with the car, a constant need to repair them is also felt & required. All this increases the overall cost of purchasing a car because of which majority of the population prefers renting the same which opens a lot of good opportunities for the Belgium Car Rental Market.

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Market Restraints: The Russia-Ukraine war increases the energy prices but even before that the market was experiencing increased level of crude oil prices which ultimately increases the overall cost of renting a car. This can not only hinder the growth prospects for the Belgium Car Rental Market but can also cause it to have a negative effect on its recovery.

Analysts at Ken Research in their latest publication, “Belgium Car Rental Market Outlook 2026F- driven by increasing tourism, technological prospects & customer loyalty” observed that Belgium Car Rental Market is in a steady growth phase but can witness some fluctuation in the upcoming years owing to the after-effects of the global pandemic. Technology prospects, customer loyalty, adaptation to climate induced changes & promotion are some of the factors that will induce growth in the Belgium Car rental market over the period 2022-2027F. It is expected that the Belgium Car rental market will grow at the CAGR of ~% for the above forecasted period.

**Key segments covered in the report**

Belgium Car Rental Market

By Vehicle type
Luxury
Executive
Economy
SUV
MUV
By Application
Local Usage
Airport Transport
Outstation
Others
By price
High (500,000+)
Medium (200k-500k)
Low ( below 200k)
By Company
Avis
Europcar
Hertz
Sixth
By tenure of rental
Short term
Long term
By major cities
Antwerp
Brussels
Bruges
Namur
By booking mode
Online
Offline

**Key Target Audience**

Car Rental Companies in Belgium
Market Entrants in the Car Rental Market of Belgium
Car Rental Companies in Europe
Market Entrants in the Car Rental Market of Europe
Ride Hailing Companies
Car Sharing Companies
Government/Regulatory Authorities
Online Aggregators
Automotive OEM

**Time period captured in the Report**

Historical Period: 2017-2021
Base Period: 2022P
Forecast Period: 2023-2027

**Companies Covered**

Avis Budget
Europcar
Sixth
Enterprise Holding
Hertz
Carzonrent

**Key Topics Covered in the Report**

Overview of Automotive Industry in the Belgium
Overview and Genesis of Car Rental Market in Belgium
Ecosystem of Belgium Car Rental Market
Business Cycle and Value Chain Analysis of Car Rental Market in Belgium
Belgium Car Rental Market Sizing, 2017- 2022P
Market Segmentations of Car Rental Market in Belgium (by Market Structure, by Type of Vehicle, by ICE/ EV, by Mode of Booking, by Pick-up, by Client, by Region), 2022P
Snapshots on Car Sharing, Cab Aggregators, Car Pooling/ Ride, Self- Driven Cars and Bike Aggregators
SWOT Analysis of Belgium Car Rental Market
Growth Drivers of Belgium Car Rental Market
Government Regulations And Incentives of Belgium Car Rental Market
Trends and Developments of Belgium Car Rental Market
Challenges of Belgium Car Rental Market
Competitive Analysis of Car Rental Market in Belgium
End User Analysis of Car Rental Market in Belgium
Future Outlook and Projections of Car Rental Market in Belgium, 2022P-2027F
Market Opportunities and Analyst Recommendations
Disclaimer
Research Methodology

**For more insights on the market intelligence, refer to the link below:-**

[**Belgium Car Rental Market**](https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/c-outlook-2027/596237-100.html)