Report Scope & Overview:

Car Rental Market Size was valued at USD 108 billion in 2022 and is expected to reach USD 160.40 billion by 2030 and grow at a CAGR of 5% over the forecast period 2023-2030.

A car rental is a corporation that rents autos for a set length of time; the service allows customers who need a temporary vehicle to use the facility. This type of business caters to customers who are in need of a temporary vehicle. These can be leased through a website that allows online reservations, and they are typically situated close to airports or city areas. They also come with a choice of vehicle sizes to accommodate a wide variety of price ranges and the amount of room that is required. Child safety seats, navigation systems, mobile phones, entertainment systems, and portable Wi-Fi are some of the additional services and items that can be rented from the car rental facility in addition to the vehicle itself. It provides the convenience of arriving at the location within the allotted time, and it can frequently be more cost-effective than other modes of public transportation, especially when traveling in a pair or with a group.

Car Rental Market Revenue 2030

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Uber and Dublin-based car rental startup CarTrawler teamed together in May 2021 to develop Uber Rent, a new automobile rental service. CarTrawler will manage Uber's car rental technology, which is being rolled out across the United States, as a result of the partnership.



  • Consumers' increasing ability to spend their money and economies that are expanding steadily.

  • Renting a car is becoming more popular as millennials are less likely to possess a car than previous generations.

  • The rise of on-demand transportation services is boosting the expansion of the car rental industry.


  • Rising gasoline and diesel prices in developing countries are expected to slow market growth.

  • The lack of awareness regarding car rental in these locations is the main setback in the business.


  • Increased availability of car rentals in impoverished areas is a critical need.

  • The cost-effectiveness of car rental schemes has led to an increase in demand.

  • Vehicle rental industry businesses can expand their markets by adopting car rental management software.


  • The growth of the industry is challenged by a lack of internet access in emerging regions.

  • Competition in the market has been severely impacted by the introduction of additional local players.


The market for renting cars has been negatively impacted as a result of Covid19. The tourist industry is essential to the functioning of the global market. The restrictions placed on tourists have had an impact on the international market. As a result of the global shutdowns, there are fewer rental cars currently on the road. The market is experiencing a significant drop in revenue as a direct result of the falling demand for automobile rental services. The instability of the market throughout COVID19 has also resulted in share losses. When compared to other markets for vehicle rental, the impact of COVID19 is quite minor in the car rental industry. As a result of the losses experienced in the market, cost-cutting and the sale of essential assets have been implemented. Despite this, the post-pandemic market trends indicate a high demand in the period of time between now and 2023.


Enterprise Holdings Inc, Uber Technologies, Inc., Avis Budget Group Inc, Hertz Global Holdings Inc, ANI Technologies Pvt. Ltd., Europcar, Carzonrent India Pvt Ltd, SIXT, Eco Rent a Car, and Localiza are some of the affluent competitors with significant market share in the Car Rental Market.


Market, By Application:

The global market has been divided into Local Usage, Airport Transport, Outstation, and Others Based on application segment. It is anticipated that the airport transport market would experience significant expansion in the years to come. The segment's revenue stream is being bolstered by an increase in air travelers from all over the world. All major airports across the world are seeing an increasing number of operators trying to capitalize on this trend by building and advertising their own brands and services.

Market, By Rental Duration:

The global market has been divided into Short-term, and long-term Based on the rental duration segment. It is anticipated that the short-term market would experience significant expansion in the years to come.

Market, By Vehicle Type:

The global market has been divided into the Luxury car, Executive car, Economical car, Sports utility vehicle (SUV), and Multi-utility vehicle (MUV) based on the vehicle type segment. It is anticipated that the economical car market would experience significant expansion in the years to come. It is expected that the segment of executive automobiles would record a CAGR of greater than 5.7 percent between the years 2021 and 2028.


By Application:

  • Local Usage

  • Airport transport

  • Outstation

  • Others

By Rental Duration:

  • Short-term

  • Long-term

By Vehicle Type:

  • Luxury car

  • Executive car

  • Economical car

  • Sports utility vehicle (SUV)

  • Multi-utility vehicle (MUV)

Car Rental Market Segment Pie Chart

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The market for car rentals can be broken down into four distinct regions: North America, Europe, Asia Pacific, and the rest of the world. When broken down by region, the Car Rental Market's most important submarket is North America's. From the years 2021 to 2028, it is anticipated that the market would expand at a compound annual growth rate of approximately 8% in the Asia Pacific area. It is anticipated that rising disposable incomes of consumers and continuously growing economies, as well as increased expenditures on business travel, will all have a positive impact on the expansion of the regional market. During the time period under consideration, it is anticipated that the markets in China and India will experience exponential growth.


  • North America

    • The USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • The UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Car Rental Market Report Scope:
Report Attributes Details
Market Size in 2022 US$ 108 Billion
Market Size by 2030 US$ 160.40 Billion
CAGR CAGR of 5% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Application (Local Usage, Airport Transport, Outstation, Others)
• by Rental Duration (Short-term, Long-term)
• by Vehicle Type (Luxury car, Executive car, Economical car, Sports utility vehicle (SUV), Multi-utility vehicle (MUV))
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Enterprise Holdings Inc, Uber Technologies, Inc., Avis Budget Group Inc, Hertz Global Holdings Inc, ANI Technologies Pvt. Ltd., Europcar, Carzonrent India Pvt Ltd, SIXT, Eco Rent a Car, and Localiza
Key Drivers •Consumers' increasing ability to spend their money and economies that are expanding steadily.

•Renting a car is becoming more popular as millennials are less likely to possess a car than previous generations.
RESTRAINTS •Rising gasoline and diesel prices in developing countries are expected to slow market growth.

•The lack of awareness regarding car rental in these locations is the main setback in the business.

Frequently Asked Questions

Base Year: 2022

Forecast Period: 2023-2030

Historical Data: 2020-2021

Car Rental Market is growing at a CAGR of 5.5% From 2023 to 2030

Yes, As we are Publisher of this report, We can provide customized version of this report as per client's business requirement.

This report covers various segments like by Vehicle Type, by Rental Duration, by Application

Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product

Table of Contents


1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions


2. Research Methodology


3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges


4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World


5. Value Chain Analysis


6. Porter’s 5 forces model


7.  PEST Analysis


8. Global Car Rental Market Segmentation, By Application

8.1 Local Usage

8.2 Airport transport

8.3 Outstation

8.4 Others


9. Global Car Rental Market Segmentation, By Rental Duration

9.1 Short-term

9.2 Long-term


10. Global Car Rental Market Segmentation, By Vehicle Type

10.1 Luxury car

10.2 Executive car

10.3 Economical car

10.4 Sports utility vehicle (SUV)

10.5 Multi-utility vehicle (MUV)


11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 the USA

11.2.2  Canada

11.2.3  Mexico

11.3 Europe

11.3.1  Germany

11.3.2  the UK

11.3.3  France

11.3.4  Italy

11.3.5  Spain

11.3.6  The Netherlands

11.3.7  Rest of Europe

11.4 Asia-Pacific

11.4.1  Japan

11.4.2  South Korea

11.4.3  China

11.4.4  India

11.4.5  Australia

11.4.6  Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1  Israel

11.5.2  UAE

11.5.3  South Africa

11.5.4  Rest

11.6 Latin America

11.6.1  Brazil

11.6.2  Argentina

11.6.3  Rest of Latin America


12. Company Profiles

12.1 Uber Technologies, Inc.,

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Enterprise Holdings Inc

12.3 Avis Budget Group Inc

12.4 Hertz Global Holdings Inc

12.5 ANI Technologies Pvt. Ltd.

12.6 Europcar

12.7 Carzonrent India Pvt Ltd

12.8 SIXT

12.9 Eco Rent a Car

12.10 Localiza


13. Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share analysis

13.3 Recent Developments


14. Conclusion

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

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This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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