Car Rental Services Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032
- Report ID: ME_0081261
- Format: Electronic (PDF)
- Publish Type: Publish
- Number of Pages: 250
Market Snapshot
Source: Market Expertz
| Study Period | 2019-2032 |
| Base Year | 2023 |
| Forcast Year | 2023-2032 |
| CAGR | 6.4 |
Gain accurate insights regarding the negative impacts of COVID-19 on all markets and industries
Download Sample PdfReport Overview
The Car Rental Services Market is anticipated to experience substantial growth, with an estimated CAGR of 5.2% between 2022 and 2032. The market size is projected to expand by USD 21,450.76 million during this period. Several factors contribute to this growth, including the increasing demand for convenient transportation options, rising urbanization, and a shift towards shared mobility solutions. Car rental services involve providing vehicles to customers for a specific duration, offering them flexibility and freedom in their travel plans.
Car Rental Services Market Overview
Drivers
A key driver of the car rental services market is the growing need for convenient and flexible transportation solutions. As urbanization continues to rise, more people are seeking convenient ways to travel without the hassles of owning a vehicle. Car rental services offer a practical and cost-effective alternative, catering to the mobility needs of individuals and businesses alike.
Additionally, the increasing preference for shared mobility solutions and the rise of ride-hailing platforms have bolstered the demand for car rental services. This trend is further supported by technological advancements, enabling seamless booking and tracking of rental vehicles via mobile apps.
Trends
One prominent trend shaping the car rental services market is the integration of electric and hybrid vehicles into rental fleets. With a growing emphasis on environmental sustainability, car rental companies are expanding their offerings to include eco-friendly vehicles. This trend aligns with the global push towards reducing carbon emissions and promoting green transportation alternatives.
Furthermore, the incorporation of smart technologies such as GPS navigation, keyless entry systems, and in-car connectivity features enhances the overall customer experience. These technological advancements contribute to the market's growth by providing users with enhanced convenience and safety during their rental period.
Restraints
One of the challenges faced by the car rental services market is the increasing competition from ride-sharing services and micro-mobility options like e-scooters and bike-sharing platforms. These alternatives offer short-distance commuting solutions, posing a threat to traditional car rental services, especially in urban areas.
Moreover, regulatory hurdles and insurance complexities associated with car rentals can hinder market growth. Stricter regulations and insurance requirements in different regions may pose challenges for both rental service providers and customers, affecting the market's expansion potential.
Car Rental Services Market Segmentation by Service Type
The short-term rental segment is expected to witness significant growth during the forecast period. Short-term car rentals cater to the immediate mobility needs of customers, offering hourly or daily rental options. This segment is popular among tourists, business travelers, and individuals requiring temporary transportation solutions. Short-term car rentals provide flexibility in terms of vehicle selection and rental duration, making them a preferred choice for various consumer segments.
Car Rental Services Market Segmentation by Vehicle Type
The compact car segment is poised for substantial growth in the car rental services market. Compact cars offer a balance between fuel efficiency, affordability, and sufficient passenger space, making them popular choices among renters. These vehicles are ideal for city commuting and short trips, aligning with the preferences of urban dwellers and travelers seeking budget-friendly options without compromising on comfort.
Regional Overview:
Download the report summary now!
Request pdf SampleNorth America is expected to dominate the global car rental services market, accounting for a significant market share during the forecast period. The region's robust transportation infrastructure, high car ownership costs, and the presence of established car rental companies contribute to its market leadership. Additionally, the rising trend of domestic tourism and business travel further fuels the demand for car rental services in North America.
In recent years, the Asia-Pacific region has witnessed rapid market growth due to increasing urbanization, expanding tourism industry, and rising disposable incomes. Countries such as China and India are experiencing a surge in demand for car rental services, driven by the growing middle-class population and a shift towards convenient transportation options.
Car Rental Services Market Customer Landscape
The car rental services market report provides insights into customer behavior, covering adoption rates, preferences, and factors influencing purchasing decisions. Companies can leverage this information to tailor their services, enhance customer satisfaction, and develop targeted marketing strategies.
Major Car Rental Services Market Companies
Leading players in the car rental services market are adopting various strategies, including technological innovations, partnerships, and fleet expansion, to gain a competitive edge. Some of the prominent companies in the market include:
- Enterprise Holdings Inc.: Offers a wide range of vehicles for short-term and long-term rentals, catering to individual and corporate clients.
- Hertz Global Holdings Inc.: Known for its global presence and diverse fleet, providing rental solutions for leisure and business travelers.
- Avis Budget Group Inc.: Operates several well-known brands, offering rental services across different vehicle categories and customer segments.
- Sixt SE: A key player in the international car rental market, known for its premium vehicle offerings and innovative mobility solutions.
- Uber Technologies Inc.: Expanding its services beyond ride-hailing, Uber offers car rental options through its app, providing users with additional transportation choices.
Segment Overview
The car rental services market report provides comprehensive segmentation based on service type, vehicle type, and geography, offering valuable insights for market players and stakeholders. The segmentation includes:
- Service Type (USD Million, 2019-2032)
- Short-term rental
- Long-term rental
- Vehicle Type (USD Million, 2019-2032)
- Compact cars
- SUVs
- Luxury cars
- Others
- Geography (USD Million, 2019-2032)
- North America
- United States
- Canada
- Europe
- United Kingdom
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Car Rental Services Market Report by Company, Regions, Types and Applications, Global Status and Forecast to 2025
1 Industry Overview of Car Rental Services
1.1 Car Rental Services Market Overview
1.1.1 Car Rental Services Product Scope
1.1.2 Market Status and Outlook
1.2 Global Car Rental Services Market Size and Analysis by Regions
1.2.1 North America
1.2.2 Europe
1.2.3 China
1.2.4 Rest of Asia Pacific
1.2.5 Central & South America
1.2.6 Middle East & Africa
1.3 Car Rental Services Market by Type
1.3.1 Offline Access
1.3.2 Mobile Application
1.3.3 Others
1.4 Car Rental Services Market by End Users/Application
1.4.1 Intercity
1.4.2 Intracity
1.4.3 On-Airport
1.4.4 Others
2 Global Car Rental Services Competition Analysis by Players
2.1 Car Rental Services Market Size (Value) by Players (2018 and 2019)
2.2 Competitive Status and Trend
2.2.1 Market Concentration Rate
2.2.2 Product/Service Differences
2.2.3 New Entrants
2.2.4 The Technology Trends in Future
3 Company (Top Players) Profiles
3.1 Enterprise Holdings
3.1.1 Company Profile
3.1.2 Main Business/Business Overview
3.1.3 Products, Services and Solutions
3.1.4 Car Rental Services Revenue (Value) (2014-2019)
3.1.5 Recent Developments
3.2 Localiza - Rent a Car
3.2.1 Company Profile
3.2.2 Main Business/Business Overview
3.2.3 Products, Services and Solutions
3.2.4 Car Rental Services Revenue (Value) (2014-2019)
3.2.5 Recent Developments
3.3 Eco Rent a Car
3.3.1 Company Profile
3.3.2 Main Business/Business Overview
3.3.3 Products, Services and Solutions
3.3.4 Car Rental Services Revenue (Value) (2014-2019)
3.3.5 Recent Developments
3.4 The Hertz Corporation
3.4.1 Company Profile
3.4.2 Main Business/Business Overview
3.4.3 Products, Services and Solutions
3.4.4 Car Rental Services Revenue (Value) (2014-2019)
3.4.5 Recent Developments
3.5 Europcar
3.5.1 Company Profile
3.5.2 Main Business/Business Overview
3.5.3 Products, Services and Solutions
3.5.4 Car Rental Services Revenue (Value) (2014-2019)
3.5.5 Recent Developments
3.6 Al Futtaim
3.6.1 Company Profile
3.6.2 Main Business/Business Overview
3.6.3 Products, Services and Solutions
3.6.4 Car Rental Services Revenue (Value) (2014-2019)
3.6.5 Recent Developments
3.7 GlobalCARS
3.7.1 Company Profile
3.7.2 Main Business/Business Overview
3.7.3 Products, Services and Solutions
3.7.4 Car Rental Services Revenue (Value) (2014-2019)
3.7.5 Recent Developments
3.8 Sixt
3.8.1 Company Profile
3.8.2 Main Business/Business Overview
3.8.3 Products, Services and Solutions
3.8.4 Car Rental Services Revenue (Value) (2014-2019)
3.8.5 Recent Developments
3.9 Avis Budget
3.9.1 Company Profile
3.9.2 Main Business/Business Overview
3.9.3 Products, Services and Solutions
3.9.4 Car Rental Services Revenue (Value) (2014-2019)
3.9.5 Recent Developments
3.10 Carzonrent India Pvt Ltd.
3.10.1 Company Profile
3.10.2 Main Business/Business Overview
3.10.3 Products, Services and Solutions
3.10.4 Car Rental Services Revenue (Value) (2014-2019)
3.10.5 Recent Developments
4 Global Car Rental Services Market Size by Type and Application (2014-2019)
4.1 Global Car Rental Services Market Size by Type (2014-2019)
4.2 Global Car Rental Services Market Size by Application (2014-2019)
4.3 Potential Application of Car Rental Services in Future
4.4 Top Consumer/End Users of Car Rental Services
5 North America Car Rental Services Development Status and Outlook
5.1 North America Car Rental Services Market Size (2014-2019)
5.2 North America Car Rental Services Market Size and Market Share by Players (2018 and 2019)
6 Europe Car Rental Services Development Status and Outlook
6.1 Europe Car Rental Services Market Size (2014-2019)
6.2 Europe Car Rental Services Market Size and Market Share by Players (2018 and 2019)
7 China Car Rental Services Development Status and Outlook
7.1 China Car Rental Services Market Size (2014-2019)
7.2 China Car Rental Services Market Size and Market Share by Players (2018 and 2019)
8 Rest of Asia Pacific Car Rental Services Development Status and Outlook
8.1 Rest of Asia Pacific Car Rental Services Market Size (2014-2019)
8.2 Rest of Asia Pacific Car Rental Services Market Size and Market Share by Players (2018 and 2019)
9 Central & South America Car Rental Services Development Status and Outlook
9.1 Central & South America Car Rental Services Market Size (2014-2019)
9.2 Central & South America Car Rental Services Market Size and Market Share by Players (2018 and 2019)
10 Middle East & Africa Car Rental Services Development Status and Outlook
10.1 Middle East & Africa Car Rental Services Market Size (2014-2019)
10.2 Middle East & Africa Car Rental Services Market Size and Market Share by Players (2018 and 2019)
11 Market Forecast by Regions, Type and Application (2019-2025)
11.1 Global Car Rental Services Market Size (Value) by Regions (2019-2025)
11.1.1 North America Car Rental Services Revenue and Growth Rate (2019-2025)
11.1.2 Europe Car Rental Services Revenue and Growth Rate (2019-2025)
11.1.3 China Car Rental Services Revenue and Growth Rate (2019-2025)
11.1.4 Rest of Asia Pacific Car Rental Services Revenue and Growth Rate (2019-2025)
11.1.5 Central & South America Car Rental Services Revenue and Growth Rate (2019-2025)
11.1.6 Middle East & Africa Car Rental Services Revenue and Growth Rate (2019-2025)
11.2 Global Car Rental Services Market Size (Value) by Type (2019-2025)
11.3 Global Car Rental Services Market Size by Application (2019-2025)
12 Car Rental Services Market Dynamics
12.1 Car Rental Services Market Opportunities
12.2 Car Rental Services Challenge and Risk
12.2.1 Competition from Opponents
12.2.2 Downside Risks of Economy
12.3 Car Rental Services Market Constraints and Threat
12.3.1 Threat from Substitute
12.3.2 Government Policy
12.3.3 Technology Risks
12.4 Car Rental Services Market Driving Force
12.4.1 Growing Demand from Emerging Markets
12.4.2 Potential Application
13 Market Effect Factors Analysis
13.1 Technology Progress/Risk
13.1.1 Substitutes
13.1.2 Technology Progress in Related Industry
13.2 Consumer Needs Trend/Customer Preference
13.3 External Environmental Change
13.3.1 Economic Fluctuations
13.3.2 Other Risk Factors
14 Research Finding/Conclusion
15 Appendix
Methodology
Analyst Introduction
Data Source
List of Tables and Figures
Figure Car Rental Services Product Scope
Figure Global Car Rental Services Market Size (Million USD) (2014-2019)
Table Global Car Rental Services Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Figure Global Car Rental Services Market Share by Regions in 2018
Figure North America Car Rental Services Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Figure Europe Car Rental Services Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Figure China Car Rental Services Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Figure Rest of Asia Pacific Car Rental Services Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Figure Central & South America Car Rental Services Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Figure Middle East & Africa Car Rental Services Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Figure Global Car Rental Services Market Share by Type in 2018
Figure Offline Access Market Size (Million USD) and Growth Rate (2014-2019)
Figure Mobile Application Market Size (Million USD) and Growth Rate (2014-2019)
Figure Others Market Size (Million USD) and Growth Rate (2014-2019)
Figure Global Car Rental Services Market Share by Application in 2018
Table Key Downstream Customer in Intercity
Figure Car Rental Services Market Size (Million USD) and Growth Rate in Intercity (2014-2019)
Table Key Downstream Customer in Intracity
Figure Car Rental Services Market Size (Million USD) and Growth Rate in Intracity (2014-2019)
Table Key Downstream Customer in On-Airport
Figure Car Rental Services Market Size (Million USD) and Growth Rate in On-Airport (2014-2019)
Table Key Downstream Customer in Others
Figure Car Rental Services Market Size (Million USD) and Growth Rate in Others (2014-2019)
Table Car Rental Services Market Size (Million USD) by Players (2018 and 2019)
Figure Car Rental Services Market Size Share by Players in 2018
Figure Car Rental Services Market Size Share by Players in 2019
Table Enterprise Holdings Basic Information List
Table Car Rental Services Business Revenue (Million USD) of Enterprise Holdings (2014-2019)
Figure Enterprise Holdings Car Rental Services Business Revenue Market Share in 2018
Table Localiza - Rent a Car Basic Information List
Table Car Rental Services Business Revenue (Million USD) of Localiza - Rent a Car (2014-2019)
Figure Localiza - Rent a Car Car Rental Services Business Revenue Market Share in 2018
Table Eco Rent a Car Basic Information List
Table Car Rental Services Business Revenue (Million USD) of Eco Rent a Car (2014-2019)
Figure Eco Rent a Car Car Rental Services Business Revenue Market Share in 2018
Table The Hertz Corporation Basic Information List
Table Car Rental Services Business Revenue (Million USD) of The Hertz Corporation (2014-2019)
Figure The Hertz Corporation Car Rental Services Business Revenue Market Share in 2018
Table Europcar Basic Information List
Table Car Rental Services Business Revenue (Million USD) of Europcar (2014-2019)
Figure Europcar Car Rental Services Business Revenue Market Share in 2018
Table Al Futtaim Basic Information List
Table Car Rental Services Business Revenue (Million USD) of Al Futtaim (2014-2019)
Figure Al Futtaim Car Rental Services Business Revenue Market Share in 2018
Table GlobalCARS Basic Information List
Table Car Rental Services Business Revenue (Million USD) of GlobalCARS (2014-2019)
Figure GlobalCARS Car Rental Services Business Revenue Market Share in 2018
Table Sixt Basic Information List
Table Car Rental Services Business Revenue (Million USD) of Sixt (2014-2019)
Figure Sixt Car Rental Services Business Revenue Market Share in 2018
Table Avis Budget Basic Information List
Table Car Rental Services Business Revenue (Million USD) of Avis Budget (2014-2019)
Figure Avis Budget Car Rental Services Business Revenue Market Share in 20187
Table Carzonrent India Pvt Ltd. Basic Information List
Table Car Rental Services Business Revenue (Million USD) of Carzonrent India Pvt Ltd. (2014-2019)
Figure Carzonrent India Pvt Ltd. Car Rental Services Business Revenue Market Share in 2018
Table Global Car Rental Services Market Size (Million USD) by Type (2014-2019)
Figure Global Car Rental Services Market Size Share by Type in 2014
Figure Global Car Rental Services Market Size Share by Type in 2015
Figure Global Car Rental Services Market Size Share by Type in 2016
Figure Global Car Rental Services Market Size Share by Type in 2017
Figure Global Car Rental Services Market Size Share by Type in 2018
Figure Global Car Rental Services Market Size Share by Type in 2019
Table Global Car Rental Services Market Size (Million USD) by Application (2014-2019)
Figure Global Car Rental Services Market Size (Million USD) by Application in 2014
Figure Global Car Rental Services Market Size (Million USD) by Application in 2015
Figure Global Car Rental Services Market Size (Million USD) by Application in 2015
Figure Global Car Rental Services Market Size (Million USD) by Application in 2017
Figure Global Car Rental Services Market Size (Million USD) by Application in 2018
Figure Global Car Rental Services Market Size (Million USD) by Application in 2019
Table Top Consumer/End Users of Car Rental Services
Figure North America Car Rental Services Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Table North America Car Rental Services Market Size (Million USD) by Players (2014-2019)
Figure North America Car Rental Services Market Size Share by Players in 2018
Figure North America Car Rental Services Market Size Share by Players in 2019
Figure Europe Car Rental Services Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Table Europe Car Rental Services Market Size (Million USD) by Players (2014-2019)
Figure Europe Car Rental Services Market Size Share by Players in 2018
Figure Europe Car Rental Services Market Size Share by Players in 2019
Figure China Car Rental Services Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Table China Car Rental Services Market Size (Million USD) by Players (2014-2019)
Figure China Car Rental Services Market Size Share by Players in 2018
Figure China Car Rental Services Market Size Share by Players in 2019
Figure Rest of Asia Pacific Car Rental Services Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Table Rest of Asia Pacific Car Rental Services Market Size (Million USD) by Players (2014-2019)
Figure Rest of Asia Pacific Car Rental Services Market Size Share by Players in 2018
Figure Rest of Asia Pacific Car Rental Services Market Size Share by Players in 2019
Figure Central & South America Car Rental Services Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Table Central & South America Car Rental Services Market Size (Million USD) by Players (2014-2019)
Figure Central & South America Car Rental Services Market Size Share by Players in 2018
Figure Central & South America Car Rental Services Market Size Share by Players in 2019
Figure Middle East & Africa Car Rental Services Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Table Middle East & Africa Car Rental Services Market Size (Million USD) by Players (2014-2019)
Figure Middle East & Africa Car Rental Services Market Size Share by Players in 2018
Figure Middle East & Africa Car Rental Services Market Size Share by Players in 2019
Figure Global Car Rental Services Market Size (Million USD) by Regions (2019-2025)
Table Global Car Rental Services Market Size (Million USD) by Regions (2019-2025)
Figure Global Car Rental Services Market Size Share by Regions in 2019
Figure Global Car Rental Services Market Size Share by Regions in 2025
Figure North America Car Rental Services Revenue (Million USD) and Growth Rate (2019-2025)
Figure Europe Car Rental Services Revenue (Million USD) and Growth Rate (2019-2025)
Figure China Car Rental Services Revenue (Million USD) and Growth Rate (2019-2025)
Figure Rest of Asia Pacific Car Rental Services Revenue (Million USD) and Growth Rate (2019-2025)
Figure Central & South America Car Rental Services Revenue (Million USD) and Growth Rate (2019-2025)
Figure Middle East & Africa Car Rental Services Revenue (Million USD) and Growth Rate (2019-2025)
Table Global Car Rental Services Market Size (Million USD) by Type (2019-2025)
Figure Global Car Rental Services Market Size Share by Type in 2019
Figure Global Car Rental Services Market Size Share by Type in 2025
Table Global Car Rental Services Market Size (Million USD) by Application (2019-2025)
Figure Global Car Rental Services Market Size (Million USD) by Application in 2019
Figure Global Car Rental Services Market Size (Million USD) by Application in 2025
RESEARCH METHODOLOGY
A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.
Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.
Now let’s take a closer look at the research methods here.
Secondary Research Model
Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.
Primary Insights
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.
However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.
Market Estimation
The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.
Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.
Final Presentation
The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.
Personalized Business Report Tailored to Your Requirements
- Our expert analysts collaborate directly with you to comprehend your specific needs.
- Get data on regions, segments, competitors, and vendors of your choice.
- Information is presented in alignment with your exact preferences and formatting.
Free Sample Report
"Find new revenue generation opportunities"