The global tourism vehicle rentalmarket size reached US$ 53.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 75.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6% during 2023-2028.
Tourism vehicle rental refers to the facility of temporarily hiring or renting an automobile for conducting travel and tourism activities. The service is commonly available through online and offline platforms for a duration of a few hours, days or weeks. Consumers can choose from economy, executive, luxury, semi-utility and multi-utility vehicles, as per their budget and requirement. The rental service is usually available with automobile insurance to safeguard the interests of the tourist and the rental service vendor. The vehicles are also integrated with various value-added services, such as Wi-Fi, entertainment devices and safety seats for children for enhanced comfort of the passengers. Tourism vehicle rental aids in minimizing the need for self-owned cars for recreational traveling and are more cost-effective and environment friendly.
Tourism Vehicle Rental Market Trends:
Significant growth in the travel and tourism industry across the globe is one of the key factors creating a positive outlook for the market. Tourism vehicle rental provides increased mobility and minimizes the concerns and costs associated with vehicle ownership. Moreover, the advent of web-based solutions and smartphones for renting tourism vehicles is providing a thrust to the market growth. These solutions enable the consumers to conveniently reserve rented vehicles online through third-party travel booking organizations. In line with this, the integration of dashcams, global positioning system (GPS) and other geo-tracking technologies aid in monitoring the location and operation of the rented vehicle and conducting predictive maintenance, thereby enhancing the efficiency of the vehicles. Additionally, the availability of periodically sanitized self-driven rented vehicles for safe traveling is also contributing to the growth of the market. Other factors, including the implementation of favorable government policies to encourage tourism activities in monuments, museums and parks, along with rising expenditure capacities of the consumers, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global tourism vehicle rentalmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on vehicle type, booking mode and end user.
Breakup by Vehicle Type:
Economy
Luxury/Premium
Breakup by Booking Mode:
Online
Offline
Breakup by End User:
Self-Driven
Rental Agencies
Breakup by Region:
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 competitive landscape of the industry has also been examined along with the profiles of the key players being Alamo (Enterprise Holdings Inc), Auto Europe, Avis Budget Group Inc., Carzonrent India Pvt Ltd., EasyCar.com, Europcar Mobility Group, Europe Luxury Cars, Kemwel, Sixt SE, The Hertz Corporation and Zoomcar India Private Ltd.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2022
Historical Period
2017-2022
Forecast Period
2023-2028
Units
US$ Billion
Segment Coverage
Vehicle Type, Booking Mode, 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
Alamo (Enterprise Holdings Inc), Auto Europe, Avis Budget Group Inc., Carzonrent India Pvt Ltd., EasyCar.com, Europcar Mobility Group, Europe Luxury Cars, Kemwel, Sixt SE, The Hertz Corporation and Zoomcar India Private Ltd
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)
Key Questions Answered in This Report
The global tourism vehicle rental market was valued at US$ 53.0 Billion in 2022.
We expect the global tourism vehicle rental market to exhibit a CAGR of 6% during 2023-2028.
The rising integration of dashcams, Global Positioning System (GPS), and other geo-tracking technologies with tourism vehicle rental facilities, as they help to monitor the location and operation of the rented vehicle and conduct predictive maintenance, is primarily driving the global tourism vehicle 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 restrictions on intra- and inter-national travel activities, thereby negatively impacting the global market for tourism vehicle rental.
Based on the vehicle type, the global tourism vehicle rental market can be segmented into economy and luxury/premium. Currently, economy holds the majority of the global market share.
Based on the booking mode, the global tourism vehicle rental market has been divided into online and offline, where online currently exhibits a clear dominance in the market.
Based on the end user, the global tourism vehicle rental market can be categorized into self-driven and rental agencies. Currently, rental agencies account for the largest market share.
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 tourism vehicle rental market include Alamo (Enterprise Holdings Inc), Auto Europe, Avis Budget Group Inc., Carzonrent India Pvt Ltd., EasyCar.com, Europcar Mobility Group, Europe Luxury Cars, Kemwel, Sixt SE, The Hertz Corporation, and Zoomcar India Private Ltd.
Need more help?
Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.
Gain a deeper dive into a specific application, geography, customer, or competitor
Any level of personalization
Get in Touch With Us
UNITED STATES
Phone: +1-631-791-1145
INDIA
Phone: +91-120-433-0800
UNITED KINGDOM
Phone: +44-753-713-2163
Email: sales@imarcgroup.com
Client Testimonials
IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.
The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required
We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra
We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.
The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.
The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.
My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.
I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.
We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.
IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.
This site uses cookies (including third-party cookies) to record user’s preferences which help us to enhance our services. For further information review our Privacy Policy.
This site uses cookies to improve user experience.Privacy Policy.