Car Rental in the US - Industry Market Research Report

Car Rental in the US - Industry Market Research Report

Car Rental in the US

Car rental services fluctuated throughout the period. Stay-at-home orders during the pandemic prevented traveling, which decimated the market for car rentals. As mass vaccinations spread, the restrictions began to lift, leading to an influx of traveling for leisure and business purposes. Revenue grew at a CAGR of 7.5% to $75.5 billion over the past five years, including a 5.9% increase in 2023 alone. Average profit has also increased from the lows suffered in 2020.

Operators rent or lease passenger cars to customers. Car rentals typically last a short time (30 days or fewer) while leasing agreements last longer (12 months or more). This industry excludes the rental or leasing of cars with drivers or trucks.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.