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Market Snapshot

CAGR:8.53

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	8.53

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Report Overview

Tourism Vehicle Rental Market Analysis Report 2023-2032

The Tourism Vehicle Rental Market is poised to experience a Compound Annual Growth Rate (CAGR) of 6.98% from 2022 to 2032. Over this period, the market size is expected to witness a substantial increase, reaching USD 128.75 billion. The growth of this market is driven by various factors, including increasing tourism activities worldwide, rising demand for flexible transportation options, and the ease of online booking platforms. The market comprises services that provide rental vehicles to tourists, ensuring convenient and efficient travel experiences.

Tourism Vehicle Rental Market Overview

Drivers

One of the key drivers behind the growth of the Tourism Vehicle Rental Market is the global increase in tourism activities. As more people travel for leisure and business, there is a growing need for convenient and flexible transportation solutions. Vehicle rental services cater to this demand by offering a wide range of vehicles, from cars and vans to recreational vehicles (RVs) and motorcycles.

Additionally, the ease of online booking platforms has significantly boosted the tourism vehicle rental industry. Consumers can quickly and conveniently reserve vehicles through websites and mobile apps, making the entire process more accessible and efficient.

Trends

An important trend shaping the Tourism Vehicle Rental Market is the adoption of environmentally friendly and sustainable practices. Rental companies are increasingly offering electric and hybrid vehicles as part of their fleets to cater to environmentally conscious travelers. This trend aligns with the broader global push for sustainable tourism.

Furthermore, the integration of smart technology into rental vehicles is on the rise. Features such as GPS navigation, Wi-Fi connectivity, and entertainment systems are being incorporated to enhance the travel experience for tourists.

Restraints

One of the challenges facing the Tourism Vehicle Rental Market is the increasing competition from ride-sharing and car-sharing services. While traditional vehicle rental companies have adapted to the changing landscape by offering their own ride-sharing services, the competition remains intense. Additionally, the rise of autonomous vehicles may disrupt the industry in the coming years.

Another restraint is the requirement for comprehensive insurance coverage, which can add to the overall cost of renting a vehicle. Some travelers may find insurance costs prohibitive, especially if they are not familiar with local insurance regulations.

Tourism Vehicle Rental Market Segmentation By Vehicle Type

The market is segmented by vehicle type, catering to various preferences and travel needs. Categories include cars, vans, RVs, motorcycles, and specialty vehicles. This segmentation allows travelers to choose vehicles that suit their group size, travel style, and destination.

Tourism Vehicle Rental Market Segmentation By Booking Method

Tourists can book rental vehicles through various methods, including online booking platforms, mobile apps, and in-person rental counters. Online and mobile booking methods have become increasingly popular due to their convenience and real-time availability checks.

Regional Overview:

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Tourism drives vehicle rental services in various regions, with popular tourist destinations experiencing higher demand. Europe, North America, and Asia-Pacific are among the top regions for tourism vehicle rentals, with countries like the United States, France, Italy, and Thailand being major markets.

Tourism Vehicle Rental Market Customer Landscape

The Tourism Vehicle Rental Market report provides insights into customer preferences and behaviors when it comes to renting vehicles. Factors such as destination, travel duration, group size, and budget influence travelers' decisions when choosing rental vehicles.

Major Tourism Vehicle Rental Market Companies

Leading companies in the Tourism Vehicle Rental Market focus on expanding their fleets, improving service quality, and enhancing customer experiences. These companies often operate globally and have a strong online presence.

Sample list of major companies in the market:

Rent-A-Car Global
Hertz Corporation
Avis Budget Group
Enterprise Holdings
Europcar Group

Segment Overview

The Tourism Vehicle Rental Market report provides revenue forecasts on a global, regional, and country level. It also includes an analysis of emerging trends and growth opportunities spanning from 2019 to 2032.

Vehicle Type Outlook (USD Billion, 2019 - 2032)

Cars
Vans
Recreational Vehicles (RVs)
Motorcycles
Specialty Vehicles

Booking Method Outlook (USD Billion, 2019 - 2032)

Online Booking Platforms
Mobile Apps
In-Person Rental Counters

Geography Outlook (USD Billion, 2019 - 2032)

North America

United States
Canada
Rest of North America

Europe

United Kingdom
Germany
France
Rest of Europe

Asia-Pacific

China
Japan
India
Rest of Asia-Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

United Arab Emirates
South Africa
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL Tourism Vehicle Rental MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Tourism Vehicle Rental MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Tourism Vehicle Rental Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. Tourism Vehicle Rental MARKET BY Vehicle type landscape

SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 Economy

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Luxury/Premium Class

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Tourism Vehicle Rental MARKET BY Booking mode INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 Online

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 Offline

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Tourism Vehicle Rental MARKET REGIONAL OUTLOOK

7.1. Tourism Vehicle Rental Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Tourism Vehicle Rental Market Estimates And Forecast, 2016 – 2027 (USD Million)

7.2.2. North America Tourism Vehicle Rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Tourism Vehicle Rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Tourism Vehicle Rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Tourism Vehicle Rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Tourism Vehicle Rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Tourism Vehicle Rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Tourism Vehicle Rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Tourism Vehicle Rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Tourism Vehicle Rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Tourism Vehicle Rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Tourism Vehicle Rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Tourism Vehicle Rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Tourism Vehicle Rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Tourism Vehicle Rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Tourism Vehicle Rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Tourism Vehicle Rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Tourism Vehicle Rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Tourism Vehicle Rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Tourism Vehicle Rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Tourism Vehicle Rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Tourism Vehicle Rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Tourism Vehicle Rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Tourism Vehicle Rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Tourism Vehicle Rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Tourism Vehicle Rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Tourism Vehicle Rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Tourism Vehicle Rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Tourism Vehicle Rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Tourism Vehicle Rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Tourism Vehicle Rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Tourism Vehicle Rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Tourism Vehicle Rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Tourism Vehicle Rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Tourism Vehicle Rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Tourism Vehicle Rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Tourism Vehicle Rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Tourism Vehicle Rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Tourism Vehicle Rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Tourism Vehicle Rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Tourism Vehicle Rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Tourism Vehicle Rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Tourism Vehicle Rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Tourism Vehicle Rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Tourism Vehicle Rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Tourism Vehicle Rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Tourism Vehicle Rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Tourism Vehicle Rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Tourism Vehicle Rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Tourism Vehicle Rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Tourism Vehicle Rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Tourism Vehicle Rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Tourism Vehicle Rental Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Tourism Vehicle Rental Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Tourism Vehicle Rental Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Tourism Vehicle Rental Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Tourism Vehicle Rental Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 eHi Car Service Limited

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2 Zoomcar India Pvt. Ltd

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3 Hertz Corporation

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4 Carzonrent India Pvt. Ltd

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5 Divezy India Travels Pvt. Ltd

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6 Company 6

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7 Company 7

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8 Company 8

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9 Company 9

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiatives

9.10 Company 10

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

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.

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Tourism Vehicle Rental Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032