Car Rental Market Size, Share & Trends Analysis Report By Vehicle Type (Luxury Cars, Executive Cars, Economy Cars, SUVs, MUVs), By Application (Local Usage, Airport Transport, Outstation, Others), By Region, And Segment Forecasts, 2023 - 2030
Car Rental Market Growth & Trends
The global car rental market size is anticipated to reach USD 278.03 billion by 2030, registering a CAGR of 12.2% from 2023 to 2030, according to a new study by Grand View Research, Inc. Considerable growth in the world tourism sector is one of the critical factors propelling the market growth. Additionally, increasing pollution, rising car prices, and the cost-effective nature of car rental services are some of the other key factors boosting the growth of the market.
The market has witnessed significant attention in the last decade due to the increased use of smartphone-based online booking applications. Bookings/reservations through rental stations have witnessed a decline in recent years since online booking allows users to plan and book vehicles quickly and in advance. Also, the internet offers a convenient way to browse through various websites of car rental providers and get access to numerous options and offers.
Car rental operators in developed countries, such as the U.S., are increasingly implementing advanced technology solutions to streamline their processes. Some of the key market players are using smartphone applications to promote discounts and offer information such as real-time car tracking as well as the availability of the vehicle. Industry participants in the moderately fragmented market compete on the basis of pricing, location, fleet size, and marketing expertise.
Car Rental Market Report Highlights
- Car rental providers across the globe are focusing on implementing various technologies for training, sales and marketing, and customer support to stand out among competitors and enable better communication with their customers
- Rising environmental concerns and awareness regarding low emission vehicles are shifting consumer preference toward vehicle rental options
- The evolution of ‘Bleisure’ is one of the prominent emerging trends in the travel and tourism sector, which refers to a combination of business and leisure trips. This trend is anticipated to drive the market among business and leisure travelers
- Prominent players are focusing on having their reach across the globe, in an attempt to cater to the customer needs and acquire a higher customer base
- Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.1.1. Vehicle type
- 1.1.2. Application
- 1.1.3. Regional scope
- 1.1.4. Estimates and forecast timeline
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database
- 1.3.2. GVR’s internal database
- 1.3.3. Secondary sources
- 1.3.4. Primary research
- 1.3.5. Details of primary research
- 1.4. Information or Data Analysis
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.7. List of Secondary Sources
- 1.8. List of Primary Sources
- 1.9. Objectives
- Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Vehicle type outlook
- 2.2.2. Application outlook
- 2.2.3. Regional outlook
- 2.3. Competitive Insights
- Chapter 3. Car Rental Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market driver analysis
- 3.3.2. Market restraint analysis
- 3.3.3. Market opportunity analysis
- 3.4. Car Rental Market Analysis Tools
- 3.4.1. Industry analysis - Porter’s Five Forces
- 3.4.1.1. Supplier power
- 3.4.1.2. Buyer power
- 3.4.1.3. Substitution threat
- 3.4.1.4. Threat of new entrant
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Technological landscape
- 3.4.2.3. Economic landscape
- 3.4.2.4. Social landscape
- Chapter 4. Car Rental Market: Vehicle Type Estimates & Trend Analysis
- 4.1. Car Rental Market: Key Takeaways
- 4.2. Car Rental Market: Movement & Market Share Analysis, 2022 & 2030
- 4.3. Luxury Cars
- 4.3.1. Luxury cars market estimates and forecasts, 2017 to 2030 (USD Billion)
- 4.4. Executive Cars
- 4.4.1. Executive cars market estimates and forecasts, 2017 to 2030 (USD Billion)
- 4.5. Economy Cars
- 4.5.1. Economy cars market estimates and forecasts, 2017 to 2030 (USD Billion)
- 4.6. SUVs
- 4.6.1. SUVs market estimates and forecasts, 2017 to 2030 (USD Billion)
- 4.7. MUVs
- 4.7.1. MUVs market estimates and forecasts, 2017 to 2030 (USD Billion)
- Chapter 5. Car Rental Market: Application Estimates & Trend Analysis
- 5.1. Car Rental Market: Key Takeaways
- 5.2. Car Rental Market: Movement & Market Share Analysis, 2022 & 2030
- 5.3. Local Usage
- 5.3.1. Local usage market estimates and forecasts, 2017 to 2030 (USD Billion)
- 5.4. Airport Transport
- 5.4.1. Airport transport market estimates and forecasts, 2017 to 2030 (USD Billion)
- 5.5. Outstation
- 5.5.1. Outstation market estimates and forecasts, 2017 to 2030 (USD Billion)
- 5.6. Others
- 5.6.1. Others market estimates and forecasts, 2017 to 2030 (USD Billion)
- Chapter 6. Car Rental Market: Regional Estimates & Trend Analysis
- 6.1. Regional Outlook
- 6.2. Car Rental Market by Region: Key Takeaway
- 6.3. North America
- 6.3.1. North America Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.3.2. U.S.
- 6.3.2.1. U.S. Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.3.3. Canada
- 6.3.3.1. Canada Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.4. Europe
- 6.4.1. Europe Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.4.2. UK
- 6.4.2.1. UK Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.4.3. Germany
- 6.4.3.1. Germany Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.4.4. France
- 6.4.4.1. France Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.5. Asia Pacific
- 6.5.1. Asia Pacific Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.5.2. Japan
- 6.5.2.1. Japan Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.5.3. China
- 6.5.3.1. China Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.5.4. India
- 6.5.4.1. India Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.5.5. Australia
- 6.5.5.1. Australia Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.5.6. South Korea
- 6.5.6.1. South Korea Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.6. Latin America
- 6.6.1. Latin America Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.6.2. Brazil
- 6.6.2.1. Brazil Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.6.3. Mexico
- 6.6.3.1. Mexico Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.7. MEA
- 6.7.1. MEA Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.7.2. Saudi Arabia
- 6.7.2.1. Saudi Arabia Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.7.3. South Africa
- 6.7.3.1. South Africa Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 6.7.4. UAE
- 6.7.4.1. UAE Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Market Participant Categorization
- 7.2.1. AVR Qatar, Inc.
- 7.2.1.1. Company overview
- 7.2.1.2. Financial performance
- 7.2.1.3. Product benchmarking
- 7.2.1.4. Strategic initiatives
- 7.2.2. Avis Budget Group, Inc.
- 7.2.2.1. Company overview
- 7.2.2.2. Financial performance
- 7.2.2.3. Product benchmarking
- 7.2.2.4. Strategic initiatives
- 7.2.3. Carzonrent India Pvt. Ltd.
- 7.2.3.1. Company overview
- 7.2.3.2. Financial performance
- 7.2.3.3. Product benchmarking
- 7.2.3.4. Strategic initiatives
- 7.2.4. Eco Rent A Car
- 7.2.4.1. Company overview
- 7.2.4.2. Financial performance
- 7.2.4.3. Product benchmarking
- 7.2.4.4. Strategic initiatives
- 7.2.5. Enterprise Holdings, Inc.
- 7.2.5.1. Company overview
- 7.2.5.2. Financial performance
- 7.2.5.3. Product benchmarking
- 7.2.5.4. Strategic initiatives
- 7.2.6. Europcar
- 7.2.6.1. Company overview
- 7.2.6.2. Financial performance
- 7.2.6.3. Product benchmarking
- 7.2.6.4. Strategic initiatives
- 7.2.7. Localiza
- 7.2.7.1. Company overview
- 7.2.7.2. Financial performance
- 7.2.7.3. Product benchmarking
- 7.2.7.4. Strategic initiatives
- 7.2.8. The Hertz Corporation
- 7.2.8.1. Company overview
- 7.2.8.2. Financial performance
- 7.2.8.3. Product benchmarking
- 7.2.8.4. Strategic initiatives
- 7.2.9. SIXT
- 7.2.9.1. Company overview
- 7.2.9.2. Financial performance
- 7.2.9.3. Product benchmarking
- 7.2.9.4. Strategic initiatives
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