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Car Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview 2022-2027:

The global car rental market reached a value of US$ 76.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 96.5 Billion by 2027, exhibiting at a CAGR of 3.8% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Car rental refers to the facility of renting automobiles temporarily for a predefined period through online or offline channels. Car rental services are primarily aimed at serving travelers and individuals who do not own private vehicles. Renting automobiles is considered to be a more cost-effective alternative to owning a vehicle as it offers freedom of movement, low-cost traveling and enables the evasion of high ownership costs. The service providers also offer various other products, such as car damage repair, insurance compensation policies, entertainment systems, global positioning systems (GPS) and Wi-Fi networks, for providing enhanced convenience to users.

 

 
 

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Car Rental Market Trends:

Significant growth in the travel and tourism industry across the globe is one of the key factors driving the growth of the car rental industry. Furthermore, the rising urban population with increasing inclination toward adventure and travel is also providing a boost to the market growth. In line with this, individuals are adopting car rental services in the form of taxis and carpooling for increased mobility and cost-effective traveling. The implementation of favorable government policies, along with the increasing awareness regarding environment conservation, is acting as another growth-inducing factor. Governments of both the developed and emerging economies are emphasizing on minimizing their vehicular emissions and promoting car rental services as one of the most economical modes of transportation. Other factors, including the introduction of car rental services through websites and smartphone-based applications, coupled with increasing expenditure capacities of the masses, are expected to drive the market further. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global car rental market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on booking type, rental length, vehicle type, application and end-user.

Breakup by Booking Type:

  • Offline Booking
  • Online Booking
     

Breakup by Rental Length:

  • Short Term
  • Long Term
     

Breakup by Vehicle Type:

 

 
 

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  • Luxury
  • Executive
  • Economy
  • SUVs
  • Others
     

Breakup by Application:

  • Leisure/Tourism
  • Business
     

Breakup by End-User:

  • Self-Driven
  • Chauffeur-Driven
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The global car rental industry is highly fragmented with the presence of several small and large players. Some of the major players in the market are:

  • Avis Budget Group, Inc.
  • Carzonrent India Private Limited
  • Eco rent a car
  • Sixt SE
  • Localiza
  • Enterprise Holdings, Inc.
  • Enterprise Rent-A-Car
  • Europcar
  • The Hertz Corporation


Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Booking Type, Rental Length, Vehicle Type, Application, End-User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Avis Budget Group, Inc., Carzonrent India Private Limited, Eco rent a car, Enterprise Holdings, Inc., Enterprise Rent-A-Car, Europcar, Localiza, Sixt SE and The Hertz Corporation
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Car Rental Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Booking Type
    6.1    Offline Booking
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Online Booking
        6.2.1 Market Trends
        6.2.2 Market Forecast
7   Market Breakup by Rental Length
    7.1    Short Term
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Long Term
        7.2.1 Market Trends
        7.2.2 Market Forecast
8   Market Breakup by Vehicle Type
    8.1    Luxury
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Executive
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Economy
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    SUVs
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Others
        8.5.1 Market Trends
        8.5.2 Market Forecast
9   Market Breakup by Application
    9.1    Leisure/Tourism
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Business
        9.2.1 Market Trends
        9.2.2 Market Forecast
10  Market Breakup by End-User
    10.1    Self-Driven
        10.1.1 Market Trends
        10.1.2 Market Forecast
    10.2    Chauffeur-Driven
        10.2.1 Market Trends
        10.2.2 Market Forecast
11  Market Breakup by Region
    11.1    North America
        11.1.1 United States
           11.1.1.1 Market Trends
           11.1.1.2 Market Forecast
        11.1.2 Canada
           11.1.2.1 Market Trends
           11.1.2.2 Market Forecast
    11.2    Asia Pacific
        11.2.1 China
           11.2.1.1 Market Trends
           11.2.1.2 Market Forecast
        11.2.2 Japan
           11.2.2.1 Market Trends
           11.2.2.2 Market Forecast
        11.2.3 India
           11.2.3.1 Market Trends
           11.2.3.2 Market Forecast
        11.2.4 South Korea
           11.2.4.1 Market Trends
           11.2.4.2 Market Forecast
        11.2.5 Australia
           11.2.5.1 Market Trends
           11.2.5.2 Market Forecast
        11.2.6 Indonesia
           11.2.6.1 Market Trends
           11.2.6.2 Market Forecast
        11.2.7 Others
           11.2.7.1 Market Trends
           11.2.7.2 Market Forecast
    11.3    Europe
        11.3.1 Germany
           11.3.1.1 Market Trends
           11.3.1.2 Market Forecast
        11.3.2 France
           11.3.2.1 Market Trends
           11.3.2.2 Market Forecast
        11.3.3 United Kingdom
           11.3.3.1 Market Trends
           11.3.3.2 Market Forecast
        11.3.4 Italy
           11.3.4.1 Market Trends
           11.3.4.2 Market Forecast
        11.3.5 Spain
           11.3.5.1 Market Trends
           11.3.5.2 Market Forecast
        11.3.6 Russia
           11.3.6.1 Market Trends
           11.3.6.2 Market Forecast
        11.3.7 Others
           11.3.7.1 Market Trends
           11.3.7.2 Market Forecast
    11.4    Latin America
        11.4.1 Brazil
           11.4.1.1 Market Trends
           11.4.1.2 Market Forecast
        11.4.2 Mexico
           11.4.2.1 Market Trends
           11.4.2.2 Market Forecast
        11.4.3 Others
           11.4.3.1 Market Trends
           11.4.3.2 Market Forecast
    11.5    Middle East and Africa
        11.5.1 Market Trends
        11.5.2 Market Breakup by Country
        11.5.3 Market Forecast
12  SWOT Analysis
    12.1    Overview
    12.2    Strengths
    12.3    Weaknesses
    12.4    Opportunities
    12.5    Threats
13  Value Chain Analysis
14  Porters Five Forces Analysis

    14.1    Overview
    14.2    Bargaining Power of Buyers
    14.3    Bargaining Power of Suppliers
    14.4    Degree of Competition
    14.5    Threat of New Entrants
    14.6    Threat of Substitutes
15  Price Indicators
16  Competitive Landscape

    16.1    Market Structure
    16.2    Key Players
    16.3    Profiles of Key Players
        16.3.1    Avis Budget Group, Inc.
           16.3.1.1 Company Overview
           16.3.1.2 Product Portfolio 
           16.3.1.3 Financials
           16.3.1.4 SWOT Analysis
        16.3.2    Carzonrent India Private Limited
           16.3.2.1 Company Overview
           16.3.2.2 Product Portfolio 
        16.3.3    Eco rent a car
           16.3.3.1 Company Overview
           16.3.3.2 Product Portfolio 
        16.3.4    Enterprise Holdings, Inc.
           16.3.4.1 Company Overview
           16.3.4.2 Product Portfolio 
           16.3.4.3 SWOT Analysis
        16.3.5    Enterprise Rent-A-Car
           16.3.5.1 Company Overview
           16.3.5.2 Product Portfolio 
           16.3.5.3 Financials
        16.3.6    Europcar
           16.3.6.1 Company Overview
           16.3.6.2 Product Portfolio 
           16.3.6.3 Financials
        16.3.7    Localiza
           16.3.7.1 Company Overview
           16.3.7.2 Product Portfolio 
           16.3.7.3 Financials
        16.3.8    Sixt SE
           16.3.8.1 Company Overview
           16.3.8.2 Product Portfolio 
           16.3.8.3 Financials
        16.3.9    The Hertz Corporation
           16.3.9.1 Company Overview
           16.3.9.2 Product Portfolio 

List of Figures

Figure 1: Global: Car Rental Market: Major Drivers and Challenges
Figure 2: Global: Car Rental Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Car Rental Market: Breakup by Booking Type (in %), 2021
Figure 4: Global: Car Rental Market: Breakup by Rental Length (in %), 2021
Figure 5: Global: Car Rental Market: Breakup by Vehicle Type (in %), 2021
Figure 6: Global: Car Rental Market: Breakup by Application (in %), 2021
Figure 7: Global: Car Rental Market: Breakup by End-User (in %), 2021
Figure 8: Global: Car Rental Market: Breakup by Region (in %), 2021
Figure 9: Global: Car Rental Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 10: Global: Car Rental (Offline Booking) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Car Rental (Offline Booking) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Car Rental (Online Booking) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Car Rental (Online Booking) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Car Rental (Short Term) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Car Rental (Short Term) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Car Rental (Long Term) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Car Rental (Long Term) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Car Rental (Luxury) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Car Rental (Luxury) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Car Rental (Executive) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Car Rental (Executive) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Car Rental (Economy) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Car Rental (Economy) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Car Rental (SUVs) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Car Rental (SUVs) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Car Rental (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Car Rental (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Car Rental (Leisure/Tourism) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Car Rental (Leisure/Tourism) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Car Rental (Business) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Car Rental (Business) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Car Rental (Self-Driven) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Car Rental (Self-Driven) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Car Rental (Chauffeur-Driven) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Car Rental (Chauffeur-Driven) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: North America: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: North America: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: United States: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: United States: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Canada: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Canada: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Asia Pacific: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Asia Pacific: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: China: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: China: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Japan: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Japan: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: India: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: India: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: South Korea: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: South Korea: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Australia: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Australia: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Indonesia: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Indonesia: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Others: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Others: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Europe: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Europe: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Germany: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Germany: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: France: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: France: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: United Kingdom: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: United Kingdom: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Italy: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Italy: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Spain: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Spain: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Russia: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Russia: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Others: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Others: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Latin America: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Latin America: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Brazil: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Brazil: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Mexico: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Mexico: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Others: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 81: Others: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 82: Middle East and Africa: Car Rental Market: Sales Value (in Million US$), 2016 & 2021
Figure 83: Middle East and Africa: Car Rental Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 84: Global: Car Rental Industry: SWOT Analysis
Figure 85: Global: Car Rental Industry: Value Chain Analysis
Figure 86: Global: Car Rental Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Car Rental Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Car Rental Market Forecast: Breakup by Booking Type (in Million US$), 2022-2027
Table 3: Global: Car Rental Market Forecast: Breakup by Rental Length (in Million US$), 2022-2027
Table 4: Global: Car Rental Market Forecast: Breakup by Vehicle Type (in Million US$), 2022-2027
Table 5: Global: Car Rental Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 6: Global: Car Rental Market Forecast: Breakup by End-User (in Million US$), 2022-2027
Table 7: Global: Car Rental Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 8: Global: Car Rental Market: Competitive Structure
Table 9: Global: Car Rental Market: Key Players


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Key Questions Answered in This Report

The global car rental market was valued at US$ 76.7 Billion in 2021.

We expect the global car rental market to exhibit a CAGR of 3.8% during 2022-2027.

The growing travel and tourism sector, along with the rising adoption of carpooling system for increased
mobility and cost-effective traveling, is currently driving the global car rental market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations resulting in the temporary shutdown of non-essential services, such as
leisure travelling, thereby limiting the demand for car rental services.

Based on the booking type, the global car rental market can be segmented into offline booking and
online booking, where online booking holds the majority of the total market share.

Based on the rental length, the global car rental market has been divided into short term and long term.
Currently, short term exhibits a clear dominance in the market.

Based on the vehicle type, the global car rental market can be categorized into luxury, executive,
economy, SUVs, and others. Among these, luxury car currently accounts for the majority of the global
market share.

Based on the application, the global car rental market has been segregated into leisure/tourism and
business, where leisure/tourism holds the largest market share.

Based on the end user, the global car rental market can be bifurcated into self-driven and chauffeur-
driven. Currently, self-driven exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global car rental market include Avis Budget Group, Inc., Carzonrent
India Private Limited, Eco rent a car, Sixt SE, Localiza, Enterprise Holdings, Inc., Enterprise Rent-A-Car,
Europcar, The Hertz Corporation, etc.

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