Global Long Term Car Rental Market Growth (Status and Outlook) 2023-2029

Global Long Term Car Rental Market Growth (Status and Outlook) 2023-2029

The global Long Term Car Rental market size is projected to grow from US$ 1382.3 million in 2022 to US$ 1902.4 million in 2029; it is expected to grow at a CAGR of 4.7% from 2023 to 2029.

The long term car rental market is growing steadily due to the increasing demand for rental cars for extended periods of time. Major sales regions for long term car rental include North America, Europe, Asia Pacific, and Latin America. North America and Europe are the largest markets due to the high disposable income of consumers and the presence of major car rental companies.

The market concentration is high, with major players such as Enterprise Rent-A-Car, Hertz, Avis Budget Group, and Europcar dominating the market. These companies have a strong presence in multiple regions and offer a wide range of rental options, including long term rentals.

One of the major opportunities in the long term car rental market is the growing trend of subscription-based car rental services. These services offer customers the option to rent a car for a longer period of time, typically a month or more, and include maintenance and insurance in the rental price. This model is becoming increasingly popular among consumers who want the flexibility of a rental car without the commitment of a long-term lease.

However, the long term car rental market also faces challenges such as increasing competition from ride-sharing services and the rising cost of owning and maintaining a rental fleet. Additionally, the COVID-19 pandemic has had a significant impact on the market, with many rental companies experiencing a decline in demand due to travel restrictions and reduced consumer spending.

Overall, the long term car rental market is expected to continue growing in the coming years, driven by the increasing demand for flexible transportation options and the rise of subscription-based rental services. However, companies will need to adapt to changing consumer preferences and market conditions in order to remain competitive.

LPI (LP Information)' newest research report, the “Long Term Car Rental Industry Forecast” looks at past sales and reviews total world Long Term Car Rental sales in 2022, providing a comprehensive analysis by region and market sector of projected Long Term Car Rental sales for 2023 through 2029. With Long Term Car Rental sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Long Term Car Rental industry.

This Insight Report provides a comprehensive analysis of the global Long Term Car Rental landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Long Term Car Rental portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Long Term Car Rental market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Long Term Car Rental and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Long Term Car Rental.

This report presents a comprehensive overview, market shares, and growth opportunities of Long Term Car Rental market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Monthly Car Rental
Annual Car Rental
Multi-year Car Rental

Segmentation by application
Personal Use
Business Use

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Enterprise
Budget
SIXT
Avis
Europcar
Trevo
Hertz
Snap Rentals
Xtracars
FINN
DriveMyCar
HelloCars
Woodford
TravelSupermarket
Maggiore Rent
Goldcar
Thrifty
Alamo
Oscar Car Rental
OK Mobility
First Car Rental
Tempest Car Hire
Record go
Yelo
Selfdrive
Easirent
Marbesol
Buchbinder
Budgetcatcher
Costa Rent

Please note: The report will take approximately 2 business days to prepare and deliver.