Recording a y-o-y growth of 5.3% in 2023, the United States car rental field reached US$ 32,084.4 million. Over the forecast period, demand for car rentals in the United States is predicted to rise at a CAGR of 4.9%. Total car rental revenue in the United States is set to expand from US$ 33,775.8 million in 2024 to US$ 54,249.5 million by 2034.

Attributes	Key Insights
Base Value (2023)	US$ 32,084.4 million
Estimated United States Car Rental Sector Size (2024)	US$ 33,775.8 million
Projected United States Car Rental Sector Revenue (2034)	US$ 54,249.5 million
Anticipated CAGR (2024 to 2034)	4.9%

Historical Performance Vs. United States Car Rental Industry Analysis

Historical CAGR (2019 to 2023)	3.8%
Forecast CAGR (2024 to 2034)	4.9%

Category-wise Insights

Car Type	Economy Car
Value CAGR	4.5%

End-use	On-airport
Value CAGR	5.8%

Booking Mode	Mobile Application
Value CAGR	6.9%

Report Scope of the Rental Car Industry Analysis in the United States

Attribute	Details
Estimated Value (2024)	US$ 33,775.8 million
Projected Value (2034)	US$ 54,249.5 million
Expected Growth Rate (2024 to 2034)	4.9% CAGR
Forecast Period	2023 to 2034
Historical Data Available for	2019 to 2023
Industry Analysis	US$ million for Value
Key Countries Covered	United States
Key Segments Covered	Car Type End-use Booking Mode Sector
Key Companies Profiled	The Hertz Global Holdings Inc. Enterprise Rent-A-Car Avis Budget Group Inc. Uber Technologies Inc. Getaround Inc. U-Save Car & Truck Rental Rent-A-Wreck of America Inc. Wingz Car2go Group GmbH The Catalyst Capital Group Inc. Sixt SE Localize Rent A Car SA Europcar Mobility Group Others (as requested)
Report Coverage	Business Forecast, Company Share Analysis, Competition Intelligence, Business Dynamics and Challenges, and Strategic Growth Initiatives

The global car rental market, driven by the demand for mobility solutions and the convenience of vehicle rental services, is witnessing significant industry growth. Innovations by the largest rental car companies and the rise of online platforms have enhanced customer experiences, offering flexibility and streamlined booking processes. Market segments like short-term rentals and economy cars are thriving due to their affordability, appealing to a broad customer base. North America and Asia-Pacific are key contributors to this expansion, with the latter poised for rapid growth. Additionally, the industry is adapting to urban mobility changes by incorporating eco-friendly vehicles and exploring peer-to-peer car sharing, aligning with a shift towards sustainable and user-centric mobility options. This evolution, detailed in our comprehensive report PDF, indicates that vehicle rental services will play a crucial role in the future of transportation. For detailed industry statistics on market size, price trend, and revenue growth, refer to Mordor Intelligence™ Industry PDF, with detailed market analysis and forecasts available in a free report PDF download, highlighting the potential and dynamics of the global car rental industry. Adding to this, our annual report will provide a deeper dive into the industry statistics, market cap and industry worth, showcasing size global and price trends. This profile PDF includes essential market data to help stakeholders understand the current state and future prospects of the car rental market.

  Car Rental Report Covers the Following Countries: USA, United States, US, Canada, DE, Germany, German, UK, United Kingdom, FR, France, French, ES, Spain, Spanish, IN, India, Indian, China, Chinese, JP, Japan, Japanese, KR, South Korea, South Korean, SA, South America, South American, MEA, Middle East and Africa, Middle Eastern and African, MENA, Middle East, Middle Eastern, Africa, African

Between the years 2019 and 2022, the car rental market in the United States saw significant growth, from 32.6 billion U.S. dollars in 2019 to 41.7 billion dollars in 2022. There was a notable decline in the car rental market size in 2020, coinciding with the introduction of COVID-19 regulations and travel restrictions in many states across the United States. However, the market size then increased dramatically in 2021 as many of these restrictions were lifted, and this growth continued into 2022.

The global car rental market size reached USD 83.9 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 105.7 Billion by 2033, exhibiting a growth rate (CAGR) of 2.6% during 2025-2033. The market is experiencing steady growth driven by the escalating need for cost-effective and short-term mobility options, the expanding middle class in emerging economies, and continuous technological advancements, particularly the integration of smart technologies and online platforms.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 83.9 Billion
Market Forecast in 2033	USD 105.7 Billion
Market Growth Rate 2025-2033	2.6%

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on booking type, rental length, vehicle type, application, and end-user.

The global Car Rental Market size is expected to reach USD 249.58 Billion in 2032 registering a CAGR of 7.4%. Our report provides a comprehensive overview of the industry, including key players, market share, growth opportunities and more.

The UK car rental market is poised for substantial expansion, increasing from USD 3,797.4 million in 2025 to USD 6,425.3 million by 2035. The market is expected to grow at a CAGR of 5.4% from 2025 to 2035.

Metric	Value
Industry Size (2025E)	USD 3,797.4 Million
Industry Value (2035F)	USD 6,425.3 Million
CAGR (2025 to 2035)	5.4%

Semi-Annual Market Update

Particular	Value CAGR
H1 2024	6.3% (2024 to 2034)
H2 2024	4.8% (2024 to 2034)
H1 2025	6.1% (2025 to 2035)
H2 2025	4.7% (2025 to 2035)

Per Capita Spending Analysis

Year	Population (millions)
2020	67.9
2021	68.3
2022	68.6
2023	69
2024	69.3

Year	Per Capita Spending (USD)
2020	18.82
2021	20.03
2022	22.68
2023	25.58
2024	29.03

Category-wise Insights

Segment (Car Type)	CAGR (2025 to 2035)
Economy Car	4.7%

Segment (End-Use)	CAGR (2025 to 2035)
On-Airport	5.2%

The Car Rental Market is poised to reach a value of 132.48 billion by 2027, exhibiting a remarkable growth rate of 11.2% CAGR. This expansion is fueled by the increasing demand for convenient and flexible transportation options, urbanization, and the growing popularity of online booking platforms. Governments worldwide are actively promoting car rental services to boost tourism, further contributing to market growth. The adoption of hybrid vehicles, rising environmental awareness, and technological advancements such as mobile apps and online reservations are also driving market growth. Major players in the industry include Avis Budget Group, Enterprise Holdings, The Hertz Corporation, and Sixt. Recent developments include: In May 2023, Car Karlo Mobility Technologies LLP unveiled their self-driven car rental services in Pune, India. The company aims to tap into the rapidly expanding Indian market by introducing a user-friendly car rental booking website and mobile app. , In April 2022, SIXT, a leading global mobility provider, continued with its expansion throughout the U.S. The company revealed plans to open new branches in Charlotte and Baltimore, to provide customers with a broader selection of rental options along the East Coast. , In April 2021, GoAir joined forces with Eco Europcar to introduce car rental services in 100 cities throughout India, encompassing 25 airports. The partnership allows GoAir to provide chauffeur-driven cars, ranging from mid to luxury car segments, through Eco Europcar's platform. , In May 2021, Uber Technologies Inc. introduced a car rental service named Uber Rent in Washington DC. Additionally, the company revealed its plans to expand the Uber Reserve option for several major airports in the U.S. .

The global car rental market size was valued USD 87.4 billion in 2021 and is expected to increase to USD 132.6 billion by 2028, with a CAGR of 6.9%.

The Luxury Car Rental Market offers a diverse range of vehicles, catering to various preferences. These vehicles include luxurious sedans, convertibles, spacious SUVs, and elegant limousines. The market segmentation includes Rental Type, encompassing both Business and Leisure, and Booking Mode, comprising Online and Offline platforms. Recent developments include: July 2022: Starr Luxury, Ikenna Ordor's luxury car rental brand, has announced its U.S. expansion. Major cities like Los Angeles, Miami, Houston, Atlanta, and Austin were the places where it declared the beginning of its operations., July 2022: Uber Comfort Electric, the company's premium electric vehicle service, has announced plans to expand into additional US cities, including Portland, Seattle, Las Vegas, Denver, Austin, Baltimore, and Philadelphia., December 2021: Ajman Public Transport Authority (APTA) has declared that car rentals are now available in order to fulfill the Emirate's Vision 2021 of assisting federal institutions in creating a fair and all-encompassing transportation network.. Key drivers for this market are: Increased disposable income

Growing tourism. Potential restraints include: High cost of luxury vehicles

Maintenance and operational costs. Notable trends are: Increasing Amount of Air Travelers is driving the market growth.

Snapshot img

Electric Car Rental Market Size 2024-2028

The electric car rental market size is forecast to increase by USD 18.01 billion, at a CAGR of 16.68% between 2023 and 2028.

The market is experiencing significant growth due to several key drivers. The increasing demand for rental cars, fueled by the rise in international tourism, presents a lucrative opportunity for market expansion. Moreover, technological advancements in battery technology have led to improved vehicle range and faster charging times, making electric cars a more viable option for rental companies. However, the global power crisis hindering the growth of the EV market poses a challenge. Despite this, the market is expected to continue its growth trajectory as governments and private entities invest in renewable energy infrastructure to support the widespread adoption of EVs. The market's shift towards electric vehicles is a response to evolving consumer preferences and regulatory pressures, making it an exciting space to watch.

What will be the Size of the Market During the Forecast Period?

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Electric car rentals have gained significant traction in the transportation industry due to their environmental sustainability and reduced carbon emissions. Renting electric vehicles (EVs) for short periods, such as hourly or daily, is increasingly popular for city travel and errands. Extended rentals, including weekly and monthly options, are also available for longer trips. Battery cars and hybrid cars are the two main types of electric vehicles offered by rental services. The rise of hybrids and plug-in vehicles is driving the growth of mobility services, offering exclusives and cost-effective items with an all-inclusive support system, making it a strong area for investment in sustainable transportation solutions.
In-car infotainment systems and the internet enable travellers to stay connected during their journeys. However, challenges persist, including transparency issues related to charging infrastructure availability and the development of a strong charging infrastructure network is crucial for the growth of the market. The growing urban transportation demands have led to the rise of electric scooter rentals, electric bikes, and other electric mobility vehicles, offering a greener alternative for city commuters. Telematics and improved battery life are enhancing the efficiency of these vehicles while the automotive sector adapts to the shift toward sustainable mobility. As regulations around emissions and sustainability become stricter, the adoption of these eco-friendly transportation solutions continues to gain momentum.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Economy cars
  Luxury cars


Distribution Channel

  Offline
  Online


Geography

  Europe

    Germany
    France
    Italy


  North America

    US


  APAC

    China


  South America



  Middle East and Africa

By Type Insights

The economy cars segment is estimated to witness significant growth during the forecast period.

The rental market for electric vehicles (EVs) is experiencing significant growth, driven by the increasing popularity of online rent-a-car services such as Zipcar and Carzonrent. The internet has revolutionized travel trips by enabling real-time booking through advanced booking engines. In-car infotainment systems and online services enhance the convenience of EV rentals. OEMs are responding with strategic activities, including new product launches, contractual agreements, mergers and acquisitions, and investments in collaboration with alternative energy vehicle manufacturers. Environmental sustainability is a key factor, as EVs produce fewer carbon emissions than traditional automotive industry offerings. Battery-swapping technology and hot-swappable batteries address range anxiety, while replacement costs and charging stations are becoming more cost-effective.

Airport authorities and construction services companies are also investing in EV rental fleets, further expanding the landscape architecture of this growing market. Economic and exclusive electric vehicle models cater to various customer segments, ensuring a diverse product line. Planning, engineering, and design are crucial for creating efficient and attractive EV rental offerings. As the market climate continues to rise, asset management and charging infrastructure will play a significant role in the success of EV rental companies.

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The economy cars segment was valued at USD 8.82 billion in 2018 and showed a gradual increase during th

The car rental industry in Indonesia has experienced significant growth, with a market size of 0.67 million in 2025. This growth is driven by a rising middle class, increasing tourism, and the expansion of online booking platforms. The industry is projected to continue expanding at a CAGR of 16.09% from 2025 to 2033, reaching a value of XX million by 2033. Among the key drivers of the industry's growth are the government's investment in infrastructure, such as airports and highways, which has made travel more accessible. Additionally, the increasing popularity of online booking platforms has made it easier for customers to compare prices and book rentals. The industry is dominated by several major players, including The Hertz Corporation, Indorent (PT Indomobil Multi Jasa), and Avis Budget Group. These companies offer a range of services, including short-term and long-term rentals, and cater to both tourists and commuters. Recent developments include: June 2022: CARRO and PT Mitra Pinasthika MustikaTBK signed a binding agreement to form a strategic alliance. CARRO's SGD 75 million (around USD 55.7 million) investment will result in the company owning 50% of PT Mitra Pinasthika MustikaTBK., May 2022: PT Blue Bird Tbk and PT AngkasaPura I officially announced a partnership to provide comfortable transportation from JenderalAhmad Yani International Airport to their destinations in Semarang. It is also consistent with Bluebird's mission to realize mobility as a service supporting the airport's transportation ecosystem.. Key drivers for this market are: Increasing Adoption of 2-wheelers across the Globe. Potential restraints include: Rise in demand of Electric Vehicles. Notable trends are: Growing Demand for Online Car Rental Services.

Car Rental (hiring of a passenger vehicle for self drive, which includes cars and small vans, by both business and leisure travelers for short term duration; excluding leasing and long term rentals) market has evolved intensely in the very recent years and is also expected to evolve in similar fashion in the near future. The report Car Rentals (Self Drive) Market in Argentina to 2022: Fleet Size, Rental Occasion and Days, Utilization Rate and Average Revenue Analytics provides deep dive data analytics on wide ranging Car Rental market aspects including overall market value by customer type – Business and Leisure, by point of rental – Airport and Non-Airport, Insurance / Temporary Replacement Revenue, Car Rental Occasion, Days and Length for the period 2013 to 2017. Read More

The Motor Vehicle Rental and Leasing industry has grown fairly quickly over the past decade, except in 2020, when COVID-19-related disruption weighed on demand. Car rental companies have updated and enhanced their online booking systems, allowing easier access for customers while saving money on labour costs. Apps and easy-to-use online booking services have boosted efficiency, though comparison sites have elevated price competition between rental providers. At the same time, leasing companies have reaped the rewards of shaky business confidence and low disposable incomes – though these both have the potential to cut into demand, they’ve aided the industry by encouraging businesses and consumers to opt for leasing over outright purchases. Over the five years through 2024, revenue is set to grow at a compound annual rate of 4.8% to reach €129.4 billion. COVID-19 disruption ate into rental and leasing demand in 2020, as the number of tourists (an important market for car rental companies) tanked while travel restriction were in place. The pandemic also slashed the need for new passenger vehicles in the leasing segment. However, car rentals have quickly recovered as tourist levels have bounced back – they reached pre-pandemic levels in 2022, driving a solid recovery in revenue. In 2024, revenue is expected to fall by 1.2%. Over the five years through 2029, revenue is forecast to soar at a compound annual rate of 5% to reach €165.6 billion. Leasing and rental companies will upgrade their fleets to meet emission targets and satisfy their customers’ preference for electric vehicles. Recovering business confidence will also propel leasing revenue, with more companies expected to engage in long-term contracts with large-scale manufacturers. However, competition from car-sharing services and a surge in new entrants in the rental segment of the market will intensify price competition, forcing existing companies to boost their efficiency.

The global wedding car rental market size was valued at USD 2.7 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.1% from 2023 to 2030. The growth of the market is attributed to factors such as increasing disposable income, rising number of destination weddings, and growing popularity of luxury weddings. Key market drivers include the increasing popularity of destination weddings, growing awareness of the benefits of renting a wedding car, and the increasing number of vendors offering a wide range of options. The market is segmented by type into long-term rental and short-term rental. The long-term rental segment is expected to grow at a faster rate during the forecast period due to the increasing popularity of destination weddings. The market is also segmented by application into wedding company and wedding couple. The wedding company segment is expected to account for a larger share of the market due to the increasing number of couples who are opting to hire a wedding planner. Key market trends include the increasing use of online booking platforms, the growing popularity of vintage wedding cars, and the increasing demand for affordable wedding cars.

The market provides a comprehensive range of heavy-duty vehicles, including trucks, buses, and trailers. Trucks remain the dominant vehicle type for rental, available in various configurations to suit specific needs such as payload capacity, fuel efficiency, and maneuverability. Buses primarily cater to passenger transportation, while trailers offer extended storage capacity. Recent developments include: April 2022: In April 2022, Free2move completed the acquisition of Comparateur-location-utilitaire.fr, the first metasearch platform for van and truck rentals. This strategic move is aimed at enhancing and expanding Free2move's commercial vehicle rental services for both private customers and B2B clients., April 2021: In April 2021, United Rentals Inc. agreed to acquire General Finance Corporation for USD 19 per share in cash. The acquisition, with a total enterprise value of approximately USD 996 million, including the assumption of USD 400 million net debt, is intended to strengthen United Rentals' geographical presence and broaden its rental services in the European region.. Key drivers for this market are: Rising demand for transportation and logistics services

Increasing preference for renting vehicles over purchasing them. Potential restraints include: High initial investment costs for electric and hybrid vehicles

Availability of skilled labor for maintenance and repair. Notable trends are: Adoption of electric and hybrid vehicles

Use of telematics and IoT devices.

The Indonesian Car Rental Market Report is Segmented by Booking Type (Online and Offline), Rental Duration Type (Short and Long-Term), and Application Type (Tourism and Commuting). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

In 2022, the declared demand for car-sharing services in Poland amounted to 28 percent.

The global automobile rental and leasing market is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 9% from 2025 to 2033. This expansion is driven by several key factors. The rising popularity of ride-sharing services and the increasing preference for short-term vehicle rentals, particularly among younger demographics, significantly fuels market demand. Furthermore, the burgeoning tourism sector and business travel contribute to elevated rental volumes. The shift towards online booking platforms offers convenience and transparency, driving adoption among both individual and corporate clients. The market is segmented by vehicle type (passenger cars, trucks, utility trailers, recreational vehicles), rental mode (offline, online), lease type (open, closed), and end-user (individual, corporate). North America and Europe currently dominate the market, driven by established infrastructure and high vehicle ownership. However, rapidly developing economies in Asia-Pacific, particularly China and India, are exhibiting substantial growth potential, presenting significant opportunities for market expansion. The market also faces challenges, such as fluctuating fuel prices and economic downturns which impact consumer spending, along with increasing regulatory scrutiny concerning emission standards and environmental concerns impacting vehicle choices. The competitive landscape is marked by established players like Hertz, Avis Budget, Enterprise Holdings, and LeasePlan, alongside emerging players catering to niche segments like eco-friendly vehicles or specialized recreational vehicle rentals. The strategic diversification of rental fleets, incorporating electric and hybrid vehicles, is a key trend responding to environmental concerns and evolving consumer preferences. Technological advancements in fleet management systems, including telematics and data analytics, enhance operational efficiency and optimize pricing strategies. The integration of innovative technologies like mobile apps and personalized customer service further enhances user experience and loyalty. This dynamic interplay of growth drivers, emerging trends, and existing challenges underscores the exciting yet complex landscape of the automobile rental and leasing market, presenting opportunities for both established and new market entrants. The future will likely see further consolidation, increased technological adoption, and a greater focus on sustainable practices across the industry. This comprehensive report provides a detailed analysis of the global automobile rental and leasing market, encompassing the historical period (2019-2024), base year (2025), estimated year (2025), and forecast period (2025-2033). It delves into market size, segmentation, trends, and growth drivers, offering invaluable insights for industry stakeholders. The report covers key players like Mercedes Benz Group AG, Expedia Group Inc, LeasePlan, Aspark Holidays Pvt Ltd, Avis Budget, Green Motion International, The Hertz Corporation, Europcar Mobility Group SA, Enterprise Holdings, and BlueLine Rental. This is not an exhaustive list. Recent developments include: January 2022: Coca-Cola Philippines (CCBPI) established a partnership with ORIX Rental Corporation to supply fleet solutions and delivered 300 new vehicles for Coca-Cola's salesforce., January 2022: Arval partnered with Ridecell to deploy next-generation shared mobility solutions offering seamless global mobility coverage.. Key drivers for this market are: Increased Travel and Tourism to Fuel Market Demand. Potential restraints include: High Maintenance cost of RV Rental Fleets. Notable trends are: Growing Popularity Of Electric Vehicles.

Car Rental (hiring of a passenger vehicle for self drive, which includes cars and small vans, by both business and leisure travelers for short term duration; excluding leasing and long term rentals) market has evolved intensely in the very recent years and is also expected to evolve in similar fashion in the near future. The report Car Rentals (Self Drive) Market in Russia to 2022: Fleet Size, Rental Occasion and Days, Utilization Rate and Average Revenue Analytics provides deep dive data analytics on wide ranging Car Rental market aspects including overall market value by customer type – Business and Leisure, by point of rental – Airport and Non-Airport, Insurance / Temporary Replacement Revenue, Car Rental Occasion, Days and Length for the period 2013 to 2017. Read More

Car Rental (hiring of a passenger vehicle for self drive, which includes cars and small vans, by both business and leisure travelers for short term duration; excluding leasing and long term rentals) market has evolved intensely in the very recent years and is also expected to evolve in similar fashion in the near future. The report Car Rentals (Self Drive) Market in New Zealand to 2022: Fleet Size, Rental Occasion and Days, Utilization Rate and Average Revenue Analytics provides deep dive data analytics on wide ranging Car Rental market aspects including overall market value by customer type – Business and Leisure, by point of rental – Airport and Non-Airport, Insurance / Temporary Replacement Revenue, Car Rental Occasion, Days and Length for the period 2013 to 2017. Read More