Technology

Multi Utility Vehicle (MUV) Rental Market size is set to grow by USD 14.12 billion from 2024-2028, Growth of travel and tourism industry to boost the market growth, Technavio

Published

2 years ago

July 18, 2024

NEW YORK, July 18, 2024 /PRNewswire/ — The global multi utility vehicle (MUV) rental market size is estimated to grow by USD 14.12 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 23.59% during the forecast period. Growth of travel and tourism industry is driving market growth, with a trend towards growing incorporation of advanced digital technologies in car rental services. However, rising number of car-sharing services poses a challenge. Key market players include Airport Van Rental, Aspark Holidays Pvt. Ltd., Autorent Car Rental LLC, Avis Budget Group Inc., Carzonrent India Pvt. Ltd., Centauro Rent a Car S.L.U., DriiveMe Ltd., Enterprise Holdings Inc., Europcar Mobility Group SA, Expedia Group Inc., Getaround Inc., GO Rentals Auckland Ltd., Hertz Global Holdings Inc., Localiza Rent a Car SA, Movida Participacoes SA, SIXT SE, Turismo Gargo SA de CV, Turo Inc., Uber Technologies Inc., and Zoomcar India Pvt. Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2017 – 2021

Segment Covered

Type (Passenger vehicles and Cargo vehicles), Application (Leisure and Commercial), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

Region Covered

North America, Europe, APAC, Middle East and Africa, and South America

Key companies profiled

Airport Van Rental, Aspark Holidays Pvt. Ltd., Autorent Car Rental LLC, Avis Budget Group Inc., Carzonrent India Pvt. Ltd., Centauro Rent a Car S.L.U., DriiveMe Ltd., Enterprise Holdings Inc., Europcar Mobility Group SA, Expedia Group Inc., Getaround Inc., GO Rentals Auckland Ltd., Hertz Global Holdings Inc., Localiza Rent a Car SA, Movida Participacoes SA, SIXT SE, Turismo Gargo SA de CV, Turo Inc., Uber Technologies Inc., and Zoomcar India Pvt. Ltd.

Key Market Trends Fueling Growth

MUV rental operators are leveraging technology to enhance customer convenience and tap into larger markets. They utilize mobile applications and online websites for business operations, offering features like real-time vehicle availability, fare information, discount coupons, and promotional offers. Digital advertisements through smartphones are also popular. Companies continually update their applications with new features, such as Uber’s swipe-and-choose vehicle option, which displays vehicle details and rental agreement information. These technological advancements are expected to significantly grow the MUV rental market.

The Multi Utility Vehicle (MUV) rental market is thriving, with fleet management becoming a key trend. Rental providers offer high-quality services through car rental apps and online booking platforms, providing discounts and packages for frequent travelers. MUV models with advanced features, safety systems, and connectivity options are popular among personal users for leisure and commercial purposes. In logistics and construction industries, specialized MUV configurations like cargo vans and utility trucks are in demand. Autonomous vehicles and AI are on the horizon, bringing automated technologies and rental management software to streamline operations. E-commerce companies and logistics providers use MUVs for bulk luggage and cross-border travel. Corporate events and hospitality industries also rely on reliable transportation options for group outings and business trips.

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Market Challenges

Car sharing is a growing trend in urban mobility, particularly in both developed and developing economies. This shared mobility concept aims to reduce carbon emissions and alleviate city traffic congestion. Unlike traditional car rental services, car sharing enables the use of freely parked vehicles for short-term periods in city areas or business districts. Car-sharing platforms, such as carpooling services, connect car owners and passengers for city-to-city travel, creating an economic model for long-distance journeys. This shift towards car sharing is expected to negatively impact the growth of the Multi Utility Vehicle (MUV) rental market during the forecast period.The Multi Utility Vehicle (MUV) rental market faces several challenges in today’s business landscape. Remote diagnostics, fuel level monitoring, and position tracking are essential for modern tourists seeking convenience. The online segment is growing, but traditional rental offices continue to cater to walk-in queries and phone reservations. Passenger capacity and cargo space are key considerations for group outings, weekend vacations, and road excursions. The short-term segment requires continuous expenditures on insurance, maintenance, and fleet management. Corporate clients, travel agencies, tour operators, business travelers, and group reservations demand tailored rental solutions with exclusive corporate rates and loyalty programs. Durability, stability, looks, and recreational vehicle parks and campgrounds are essential for attracting air travelers and millennials. Online registration, self-service kiosks, driver face verification, and machine learning help streamline operations and mitigate potential incidents. Predictive analytics tools and inventory management software are crucial for optimizing fleet usage and reducing downtime.

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Segment Overview

This multi utility vehicle (muv) rental market report extensively covers market segmentation by

Type 1.1 Passenger vehicles1.2 Cargo vehiclesApplication 2.1 Leisure2.2 CommercialGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Passenger vehicles- The passenger vehicle market, specifically Multi Utility Vehicles (MUVs), has gained popularity due to the cost-effective nature of renting instead of buying. Major players like Enterprise Holdings and Sixt offer these vehicles at an average price of USD300 per day. Urbanization and increased internet penetration have boosted awareness about MUV renting. The ability to accommodate multiple passengers and the option to upgrade to new models after rental periods make MUVs an attractive choice. Subscription-based car rental programs from vendors, including premium MUVs, further enhance revenue and brand penetration. These factors collectively contribute to the growth of the MUV rental market.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017 – 2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global electric car rental market is experiencing robust growth driven by increasing environmental consciousness and governmental incentives promoting sustainable transportation options. Companies like Zipcar and Enterprise are expanding their electric vehicle (EV) fleets to meet rising demand for clean, convenient urban mobility solutions.

The global automotive service market is thriving with advancements in vehicle diagnostics and maintenance technologies. Key players such as Bosch and Continental are innovating in predictive maintenance and digital service platforms, enhancing efficiency and customer satisfaction.

The global automotive dual variable valve timing market is growing as automakers adopt advanced engine technologies for improved performance and fuel efficiency. Companies like Toyota and Honda are integrating dual VVT systems across their vehicle ranges, optimizing engine performance across diverse driving conditions.

Research Analysis

The Multi Utility Vehicle (MUV) rental market is experiencing significant growth in the global tourism sector, with car sharing and subscription services becoming increasingly popular among infrequent users. MUV rentals offer flexibility for travelers, allowing them to explore various destinations without the long-term commitment of automobile ownership. The World Tourism Organization reports that MUVs are popular choices for logistics, construction, and vehicle fleet management due to their durability, stability, and advanced features. MUV models come in various looks and sizes, catering to diverse customer needs. Cost-conscious customers appreciate the cost savings of renting an MUV instead of purchasing one. Recreational vehicle parks and campgrounds are popular destinations for MUV renters, providing an opportunity to explore nature and scenic areas. Air travelers also opt for MUV rentals for convenient and affordable transportation. Online registration, self-service kiosks, and fleet management systems make the rental process seamless. Safety systems, connectivity options, and specialized MUV configurations add value to the rental experience. Car rental companies are investing in advanced features and safety systems to meet the evolving demands of customers. Passenger vans are also a popular choice for large groups and families.

Market Research Overview

The Multi Utility Vehicle (MUV) rental market is experiencing significant growth in the global tourism sector, driven by car sharing, subscription services, and leasing choices. Infrequent MUV users prefer these options over automobile ownership, making rental companies a popular choice for cost-conscious customers. The market includes both online and traditional rental segments, catering to modern tourists who value convenience and high-quality services. Rental companies offer real-time tracking, remote diagnostics, fuel level monitoring, and position tracking through telematics. These advanced features are increasingly important for both short-term and long-term rentals. The online segment is growing rapidly, with booking platforms simplifying the process and reducing paperwork. MUV rentals are popular for weekend vacations, road excursions, group outings, special events, and temporary needs. Corporate clients, travel agencies, tour operators, business travelers, and group reservations also contribute significantly to the market. Tailored rental solutions, exclusive corporate rates, and loyalty programs are becoming essential offerings. Fleet management software, predictive analytics tools, inventory management, and fleet management are crucial for rental companies to optimize their operations. MUV models with durability, stability, looks, and advanced features are in high demand, catering to various industries like construction, logistics, and recreational vehicle parks. The digital market is transforming the rental industry with automated technologies, rental management software, and AI-powered solutions. Autonomous vehicles and machine learning are potential game-changers, offering convenience, safety, and cost savings. Millennials, who value mobility and flexibility, are driving the demand for MUV rentals and mobile apps.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypePassenger VehiclesCargo VehiclesApplicationLeisureCommercialGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Technology

Walmart Has 23.6% of U.S. Grocery Sales – But Costco Owns the AI Answer – 5W Grocery Retail AI Visibility Index 2026

Published

1 hour ago

May 7, 2026

Walmart Owns 21% of U.S. Grocery — But Costco Owns the AI Answer

NEW YORK, May 7, 2026 /PRNewswire/ — 5WPR, the premier AI communications firm in the United States, today released the U.S. Grocery Retail AI Visibility Index 2026 — the 11th installment in 5W’s AI Visibility Index research series, and the first to rank American grocery retailers by how frequently they are cited inside AI-generated answers.

The headline finding rewrites the category league table.

Walmart, with approximately 21 percent of U.S. grocery market share — the largest in the country — ranks fourth in AI citation share. The retailer cited most often when American shoppers ask ChatGPT, Claude, Perplexity, or Google AI Overviews where to buy their groceries is Costco. Trader Joe’s ranks second. Whole Foods ranks third. Aldi, H-E-B, and Wegmans are all punching far above what their physical footprint would predict.

“Market share is a lagging indicator. AI citation share is a leading indicator,” said Ronn Torossian, Founder and Chairman of 5W. “The grocers who close that gap in 2026 will define the category in 2030. Most grocery CMOs we talk to are running 2019 playbooks against 2026 consumer behavior.”

5W researchers ran more than 80 consumer-intent queries across 12 sub-categories — best overall grocery store, cheapest, highest-quality produce, best private label, best organic, best meal planning, best bulk, best delivery, best customer service, best regional, and others — across the four leading consumer AI platforms. Each retailer was scored on citation frequency, position within the answer, sentiment, and sub-category dominance.

The top 10: Costco, Trader Joe’s, Whole Foods, Walmart, Kroger, Aldi, H-E-B, Publix, Wegmans, and Target.

Key structural findings:

Market share no longer predicts AI citation share. Walmart’s roughly 21 percent share translates to an estimated 8 to 10 percent AI citation share across premium query categories. The decoupling is the single largest such gap in American retail.Private label is the highest-leverage citation asset a grocer owns. Kirkland, Trader Joe’s, 365, Good & Gather, and Great Value are cited directly by name in AI answers at rates that exceed most national CPG brands.Regional loyalty translates directly into regional AI dominance. Regional chains outperform national chains in their home markets by 3x or more.Reddit and TikTok are under-priced citation surfaces. Perplexity pulls a majority of its answers from community sources. ChatGPT and Claude weight Reddit heavily.

The report also identifies six 2026 dynamics reshaping the category, including the new GLP-1 grocery basket, Aldi’s expansion as a citation-compounding program, and Walmart’s CEO transition from Doug McMillon to John Furner — effective February 1, 2026 — as a brand-narrative inflection point.

The full Index, including ranks 11 through 25 and sub-category breakdowns, is available as a free download at 5wpr.com/research.

About 5W

5W is the AI Communications Firm, building brand authority across the platforms where decisions now happen — ChatGPT, Claude, Perplexity, Gemini, and Google AI Overviews — alongside earned media, digital, and influencer channels. 5W combines public relations, digital marketing, Generative Engine Optimization (GEO), and proprietary AI visibility research, helping clients measure and grow their presence in AI-driven buyer research.

Founded more than 20 years ago, 5W has been recognized as a top U.S. PR agency by O’Dwyer’s, named Agency of the Year in the American Business Awards®, and honored as a Top Place to Work in Communications in 2026 by Ragan. 5W serves clients across B2C sectors including Beauty & Fashion, Consumer Brands, Entertainment, Food & Beverage, Health & Wellness, Travel & Hospitality, Technology, and Nonprofit; B2B specialties including Corporate Communications and Reputation Management; as well as Public Affairs, Crisis Communications, and Digital Marketing, including Social Media, Influencer, Paid Media, GEO, and SEO. 5W was also named to the Digiday WorkLife Employer of the Year list.

For more information, visit www.5wpr.com.

Media Contact
Chris Bergin
cbergin@5wpr.com

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SOURCE 5W Public Relations

Technology

ICAT Logistics Appoints Youssef Annali as Chief Financial Officer

Published

1 hour ago

May 7, 2026

Transportation and logistics finance leader joins as ICAT accelerates its next phase of growth

DALLAS, May 7, 2026 /PRNewswire/ — ICAT Logistics announces the appointment of Youssef Annali as Chief Financial Officer. Annali brings more than two decades of senior finance leadership across global logistics and supply chain businesses, and joins as the company scales its platform, team, and operational capabilities globally.

Annali joins ICAT from OIA Global, a $1.4 billion revenue supply chain management leader, where he served as CFO for four years overseeing Finance, Corporate Development, Strategy, Legal, Compliance, and Real Estate. Prior to OIA, he spent eleven years at CEVA Logistics—one of the world’s largest freight and logistics providers—rising to CFO & EVP Finance for North America, where he held financial accountability for a business generating over $4.5 billion in annual revenue and more than 14,000 employees. Earlier in his career, he served in senior finance roles at Abbott, KPMG, and PricewaterhouseCoopers.

Annali has a consistent track record of building finance functions that support strategic growth and has deep experience across financial planning, M&A, treasury, and corporate restructuring. He holds a Post-Master’s in Finance and Control from the University of Amsterdam and a Master’s in Business Administration from the University of Groningen.

“Youssef has led high-performing finance teams at the highest levels of global logistics. He brings the operational depth and strategic mindset our platform demands as we enter the next phase of growth,” said Brad Stogner, CEO of ICAT Logistics.

“ICAT has built something genuinely differentiated—a specialized platform operating in verticals where precision and domain expertise are non-negotiable. The foundation is strong, and the opportunity ahead is significant. I look forward to working with the team to accelerate that momentum,” said Youssef Annali, Chief Financial Officer of ICAT Logistics.

About ICAT

ICAT is the world’s leading specialized logistics company, delivering customized solutions and deep vertical expertise to industries where failure is not an option. With 65 offices and operating capabilities in 190 countries, ICAT serves customers across Live Events, Luxury, Technology, Defense & Aerospace, Life Sciences, and Financial Institutions—sectors defined by uncompromising performance standards. ICAT’s proprietary, AI-powered technology platform provides end-to-end visibility and predictive intelligence, enabling precise execution for the most demanding operations.

ICAT is backed by New Atlas Capital following its acquisition of the Company in 2024.

Contact Information

ICAT Logistics, Inc.
8840 Cypress Waters Blvd, Ste 325,
Coppell, TX, 75019
marketing@icatlogistics.com

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SOURCE ICAT Logistics, Inc.

Technology

HelloNation Article Highlights Poughkeepsie’s Focus on Youth Investment, Neighborhood Parks and Sustainable Reuse

Published

1 hour ago

May 7, 2026

The article examines how redevelopment projects and youth programs are reshaping community life across Poughkeepsie.

POUGHKEEPSIE, N.Y., May 7, 2026 /PRNewswire/ — What does long term community growth look like when a city invests in both people and public spaces? HelloNation has published a HelloNation article that provides the answer through a detailed look at how Poughkeepsie is combining youth investment, neighborhood improvements and adaptive reuse projects to support residents and strengthen the city’s future.

The article explains that Poughkeepsie is undergoing a period of reinvention centered on infrastructure upgrades, youth programming and redevelopment along the city’s Northside. According to the article, local and county leaders are working to create spaces where residents can learn, gather and build stronger community connections. The article notes that these efforts are intended to improve quality of life while helping the city grow in a more sustainable and inclusive way.

A major focus of the article is the planned Youth Opportunity Union, also known as the YOU, a large multipurpose youth facility backed by Dutchess County. The HelloNation article describes the project as a 19,000 square foot center that will include childcare services, wellness support, tutoring areas, teaching kitchens and both indoor and outdoor recreation spaces. The article explains that the project reflects a larger regional effort to increase opportunities for children and teenagers in underserved communities.

The article also highlights additional youth centered investments connected to sports, education and recreation. According to the article, Dutchess County has awarded grants to local organizations serving young people between the ages of 6 and 17. The article further explains that Poughkeepsie’s City Parks program has introduced mini grants designed to support renovations and activities in neighborhood parks, including Pershing Avenue and Malcolm X parks.

Beyond youth programs, the article details how the city is working to improve transportation and neighborhood infrastructure. The HelloNation article explains that Poughkeepsie launched its first five year paving plan in 2025, beginning with major roadway improvements on Main Street and other corridors. The article states that these upgrades are intended to improve safety, durability and daily conditions for residents while supporting broader redevelopment goals throughout the city.

Another important part of the article focuses on adaptive reuse and environmental redevelopment on the Northside. The article describes how Scenic Hudson plans to transform the former Standard Gage Factory into the Northside Hub, a redevelopment project designed to serve as both a nonprofit headquarters and a community gathering space. According to the article, the project will feature solar powered operations, office space, public parkland and community facilities near the Walkway Over the Hudson and Dutchess Rail Trail.

The article also explains that Poughkeepsie’s selection as the Mid Hudson winner in New York’s Downtown Revitalization Initiative adds additional momentum to current redevelopment efforts. The HelloNation article notes that the funding will support new downtown projects that build on existing investments in youth programs, infrastructure and adaptive reuse. Together, these efforts are presented as part of a broader strategy to create long term stability and opportunity for local residents.

The article concludes that Poughkeepsie’s emerging identity is closely tied to projects that strengthen neighborhoods while supporting future generations. Poughkeepsie Puts Youth, Neighborhood Parks and Sustainable Reuse at the Center of Renewal features insights from HelloNation Staff Writer, community development coverage of Poughkeepsie, New York, in HelloNation.

About HelloNation

HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused digital publications and innovative “edvertising” approach, HelloNation delivers expert-driven, good-news content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities. HelloNation maintains partnerships with the U.S. Conference of Mayors, and the United States First Responders Association.

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SOURCE HelloNation