Graph and download economic data for Producer Price Index by Industry: Passenger Car Rental: Replacement Passenger Car Rental (PCU5321115321113) from Dec 1991 to Sep 2025 about passenger, rent, vehicles, PPI, industry, inflation, price index, indexes, price, and USA.

Graph and download economic data for Producer Price Index by Industry: Passenger Car Rental: Passenger Car Rental for Leisure Travel (PCU532111532111221) from Dec 1998 to Sep 2025 about passenger, leisure, travel, rent, vehicles, PPI, industry, inflation, price index, indexes, price, and USA.

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

The Electric Car Rental Market Report is Segmented by Vehicle Type (Battery Electric, PHEV, and More), Body Style (Hatchback, Sedan, and More), Customer Type (Leisure/Tourism, and More), Booking Channel (Online and Offline), Rental Duration (Short-Term and More), Price Tier (Budget/Economy and More), End-Use Purpose (Local Commute, and More) and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Graph and download economic data for Producer Price Index by Industry: Passenger Car Rental: Primary Services (PCU532111532111P) from Dec 1991 to Aug 2025 about primary, rent, vehicles, services, PPI, industry, inflation, price index, indexes, price, and USA.

The United States car rental market is estimated to grow steadily, with a market size of USD 35.4 billion in 2025, increasing to USD 56.9 billion by 2035. The industry will grow at a CAGR of 4.85% between 2025 and 2035 due to the growth in demand for dynamic transportation alternatives and the integration of digital rental platforms.

Metrics	Data
Valuation (2025)	USD 35.4 billion
Valuation (2035)	USD 56.9 billion
CAGR (2025 to 2035)	4.85%

Car Rental Industry Analysis in the United States

Country	CAGR (2025 to 2035)
USA	5.0%

Competitive Outlook

Company Name	Estimated Market Share (%)
Enterprise Holdings	45-50%
Hertz Global Holdings	25-30%
Avis Budget Group	18-22%
Turo	2-5%
Getaround	1-3%
Other Traditional Rentals	5-7%

The car rental service market size is projected to reach a value of USD 3,09,703.4 million in 2024, at a CAGR of 7.3% from 2024 to 2034. Car rental service sales are likely to be USD 6,25,867.4 million by 2034.

Attributes	Description
Estimated Global Car Rental Service Market Size (2024E)	USD 3,09,703.4 million
Projected Global Car Rental Service Market Value (2034F)	USD 6,25,867.4 million
Value-based CAGR (2024 to 2034)	7.3%

Semi-annual Market Update

Particular	Value CAGR
H1	23.5% (2023 to 2033)
H2	-6.9% (2023 to 2033)
H1	8.8% (2024 to 2034)
H2	5.8% (2024 to 2034)

Country-wise Insights

Countries	CAGR 2024 to 2034
India	10.1%
Germany	2.4%
Spain	5.9%
Australia	5.8%
United States	3.7%
Canada	4.0%
China	9.3%

Category-wise Insights

Segment	Economy Cars (Car Type)
Value Share (2024)	32.4%

Segment	On-Airport (End Use)
Value Share (2024)	43.2%

The global car rental market, valued at $132.10 billion in 2025, is experiencing robust growth, projected to expand at a CAGR exceeding 10.75% from 2025 to 2033. This significant expansion is driven by several key factors. The rising popularity of leisure travel and business trips fuels demand for short-term rentals, particularly among younger demographics who prioritize convenience and flexibility over car ownership. Furthermore, the increasing adoption of online booking platforms and mobile applications simplifies the rental process, enhancing customer experience and driving market penetration. The burgeoning tourism sector, especially in rapidly developing economies in Asia-Pacific, further contributes to market growth. Technological advancements, such as improved vehicle management systems and innovative pricing strategies, also play a crucial role. Growth is segmented across various vehicle types, with the luxury/premium car segment exhibiting strong potential due to increasing disposable incomes and a preference for enhanced comfort and features. The market is also witnessing a shift toward long-term rentals, driven by corporate clients and individuals seeking cost-effective transportation solutions. However, challenges such as fluctuating fuel prices, stringent regulations concerning emissions and safety, and intense competition among established players pose potential restraints to growth. The market's segmentation reveals diverse opportunities. Online booking platforms are gaining traction, outpacing offline methods as consumers embrace digital convenience. The leisure/tourism segment dominates, yet the business travel sector contributes significantly, influenced by corporate travel policies and expense management. While self-driven rentals hold a larger market share, chauffeur-driven services are experiencing growth, particularly in the luxury segment catering to high-net-worth individuals and corporate clients. Geographic distribution shows North America and Europe as mature markets, while Asia-Pacific presents significant growth potential due to rising disposable incomes and expanding middle classes. Companies like Enterprise Holdings Inc, Hertz Global Holdings Inc, and Avis Budget Group Inc are major players, constantly innovating to maintain their competitive edge through strategic partnerships, fleet expansion, and technological enhancements. The forecast period (2025-2033) suggests continued expansion, indicating promising investment opportunities within the car rental industry. This comprehensive report provides an in-depth analysis of the global car rental market, covering the historical period (2019-2024), the base year (2025), and forecasting the market's trajectory until 2033. The report delves into market size, segmentation, growth drivers, challenges, and emerging trends, offering invaluable insights for stakeholders across the industry. With a focus on key players like Enterprise Holdings Inc., Hertz Global Holdings Inc., and Avis Budget Group Inc., the report illuminates the competitive landscape and future opportunities within the multi-billion dollar car rental sector. This research utilizes robust data analysis and industry expert insights to provide a clear and actionable roadmap for businesses operating in or seeking entry into this dynamic market. Recent developments include: November 2023: MakeMyTrip, an Online travel agency, announced its entry into the car rental market with the acquisition of Indian intercity car rental company Savaari. The acquisition is a small ticket investment within the USD 10 million range., August 2023: Avis Budget Group announced a strategic partnership with Albatha Automotive Group to add the Budget Rent a Car and Payless Car Rental brands to the latter’s mobility services portfolio. The newly founded division of Albatha Group will include the Budget and Payless car rental brands. It will also provide a range of self-drive and chauffeur-driven services, including rental cars and leasing for passenger and commercial vehicles., March 2023: IndusGo, the leading self-drive car rental company, raised funding of INR 200 crore from its parent company, Indus Motors. IndusGo is a prominent player operating in South India. It plans to start its car rental operations across Bengaluru and Hyderabad.. Key drivers for this market are: Growing Travel and Tourism Industry is Driving the Car Rental Market. Potential restraints include: Increasing Popularity of Ride-Sharing Services Pose Challenges for the Conventional Car Rental Market. Notable trends are: Increasing Demand for Online Car Rental Services to Play a Key Role in the Market.

The European car rental market, valued at €14.34 billion in 2025, is projected to experience robust growth, driven by a Compound Annual Growth Rate (CAGR) of 8.96% from 2025 to 2033. This expansion is fueled by several key factors. The burgeoning tourism sector across Europe, particularly in popular destinations like the UK, France, Germany, and Spain, significantly boosts demand for short-term rentals. Simultaneously, the rise of business travel and increasing reliance on flexible transportation solutions contribute to the market's growth. The convenience and affordability of online booking platforms further accelerate market penetration. Segmentation within the market reveals a strong preference for online booking and short-term rentals, although the long-term rental segment is witnessing steady growth, driven by relocation needs and the increasing popularity of subscription-based car services. Premium and luxury car rentals represent a lucrative niche, showcasing a willingness to pay for higher-end vehicles among a growing segment of travelers. Competition within the market remains intense, with established players like Avis Budget Group, Enterprise Holdings, and Hertz Global Holdings facing challenges from emerging local and international players seeking market share. Despite the positive outlook, certain challenges persist. Fluctuations in fuel prices and economic downturns can impact consumer spending and rental demand. Stringent environmental regulations, aimed at reducing carbon emissions from the transportation sector, may also influence the types of vehicles offered and operational costs. Furthermore, the increasing popularity of alternative transportation options, such as ride-sharing services and public transportation, could exert competitive pressure on the car rental industry. However, the market’s resilience stems from its ability to adapt to evolving consumer preferences through technological innovation, diversified service offerings, and strategic partnerships. The expansion of electric vehicle fleets and the introduction of sustainable practices are anticipated to mitigate environmental concerns and enhance the industry's long-term sustainability. Recent developments include: December 2023: SIXT SE, a German-based car rental company, announced that it was phasing out Tesla electric rental cars from its fleets because of reduced resale costs. SIXT was the second company apart from Hertz to announce the replacement of its electric vehicle fleet., October 2023: Enterprise Holdings, a car rental service provider operating worldwide, including across Europe, announced its plan to rebrand its name to Enterprise Mobility to reflect the 'evolution' of its global network of mobility solutions. In line with the new corporate brand, the company rolled out a new logo and tagline: ‘Advance the world, one journey at a time.’ However, the company stated that all Enterprise Mobility brands will remain unchanged as key offerings in its portfolio., June 2023: Europcar, a car rental company operating in Europe, announced its partnership with the BringOz logistics platform as part of its efforts to digitize internal processes and automate and optimize vehicle movement. Further, as per the agreement, both these companies will work in collaboration to streamline and maximize Europcar's resources by increasing the efficiency of vehicle transfers with consolidation.. Key drivers for this market are: Increasing Inbound Tourism to Fuel Market Growth. Potential restraints include: Increasing Inbound Tourism to Fuel Market Growth. Notable trends are: Online Segment of the Market to Gain Traction during the Forecast Period.

The United States Vehicle Rental Market Report is Segmented by Application (Leisure and Tourism and Business and Corporate), Vehicle Type (Passenger Cars and More), Booking Channel (Online and Offline), Rental Duration (Short-Term and More), Propulsion (ICE Vehicles and More), Service Model (Traditional Corporate Fleets and Peer-To-Peer Platforms), and Region. The Market Forecasts are Provided in Terms of Value (USD).

The Global Car Rental market is set to grow at a CAGR of 18.84% from 2025-30. Sixt SE, Enterprise Holdings (Alamo), Hertz Corp are some top players in the market.

The Car Rental Market size was valued at USD 132.48 billion in 2023 and is projected to reach USD 278.54 billion by 2032, exhibiting a CAGR of 11.2 % during the forecast period. 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. .

Car Rental Business Market size was valued at USD 132.49 Billion in 2023 and is projected to reach USD 278.04 Billion by 2030, growing at a CAGR of 11.3% during the forecast period 2024-2030.

Global Car Rental Business Market Drivers

The market drivers for the Car Rental Business Market can be influenced by various factors. These may include:

Travel and tourist Trends: The travel and tourist sector and the automobile rental business are closely related. The demand for rental automobiles typically rises as more people travel for business or pleasure.

Urbanization: As cities expand, there is frequently a greater need for temporary transit options. In cities, car rentals can offer a variety of flexible mobility options.

Economic Factors: A number of factors, such as consumer confidence and disposable income levels, might affect the market for car rentals. People can be more inclined to spend money on travel and related services during economic upturns.

Business Travel: The market for rental cars is greatly influenced by business travel. Corporate car rentals are becoming more and more necessary as organizations grow and go worldwide.

Air Travel: Since many consumers rent cars right out of airports, automobile rental companies frequently profit from air travel. The demand for rental automobiles may fluctuate in response to shifts in passenger volumes and air travel patterns.

Technological Advancements: New developments in online reservation platforms, smartphone apps, and automobile rental platforms can improve customer experiences by simplifying the rental process for customers and fleet management for businesses.

Environmental Concerns: As people become more conscious of environmental issues, their interest in eco-friendly and sustainable modes of transportation has grown. Several automobile rental firms have begun to add hybrid and electric cars to their fleets.

Changing Customer Preferences: The car rental sector may be impacted by changes in customer preferences, such as a predilection for adaptable and on-demand transportation options. Other alternative mobility options, including vehicle-sharing, could have an impact on the conventional automobile rental business.

Regulatory Environment: Market dynamics may be impacted by government laws, rules, and policies pertaining to the vehicle rental sector, such as those pertaining to licensing, taxes, and environmental standards.

Competitive Landscape: Market developments can be influenced by the strategies and presence of significant companies in the vehicle rental sector. Market share and competitiveness may be impacted by mergers, acquisitions, and new competitors.

The Brazil Vehicle Rental Market Report is Segmented by Application Type (Leisure/Tourism, Business, and Daily Commuting), Booking Type (Online and Offline), Vehicle Type (Passenger Cars and Commercial Vehicles), End User (Tour Operators and Fleet Operators), and Region (Southeast, South, Northeast, North, and Central-West). The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

Snapshot img

Europe Vehicle Rental Market Size 2025-2029

The Europe vehicle rental market size is forecast to increase by USD 21.46 billion, at a CAGR of 8.8% between 2024 and 2029.

The market is experiencing significant growth, driven by several key factors. Firstly, there is a growing awareness and preference for car rental among European consumers, particularly among the younger demographic. Secondly, the increasing dependence on technology-driven rental vehicle services is helping to expand the customer base and improve the overall rental experience. Additionally, the rising number of car-sharing services is contributing to the market growth, providing a more flexible and affordable option for consumers. The market is also facing challenges, such as increasing competition and regulatory compliance, which companies must navigate to remain competitive and profitable.

What will be the Europe Vehicle Rental Market Size During the Forecast Period?

Request Free Sample

The Europe Vehicle Rental Market growth, caters to the needs of both business and leisure travelers. Automobiles are rented through both online channels and offline stores, with Rental Car services being the key players. Travelers prefer renting personal vehicles for flexibility and convenience during global travel or local usage. Car damage repair and insurance compensation policies are essential considerations for car rental operators. Entertainment systems and Internet booking applications have become essential features for car rentals, enhancing the user experience. Airport transport is a major segment, while economy cars and executive cars cater to different customer segments.
The upper middle-class demographic serves as a crucial consumer segment, with urbanization and rising internet penetration fueling demand in the vehicle rental market. Advancements in vehicle rental technology are optimizing operations, allowing companies to efficiently manage fleet management, customer bookings, and rental logistics. Airports continue to be prime locations for passenger car rentals and light truck rental, given their high traveler volume. The surge in leisure travel and bleisure (business and leisure combined), along with the trend of global commuting, is amplifying the demand for rental vehicles, including short-term car rental and long-term car rental services. Additionally, the adoption of electric vehicle rentals and eco-friendly car rental options is reshaping the industry, particularly in regions like Europe, where light trucks for rent are gaining traction. As consumers increasingly opt for rental solutions over ownership, the market is poised for sustained growth.

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 billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Distribution Channel

  Offline
  Online


Type

  Short term
  Long term


Geography

  Europe

    Germany
    UK
    France
    Italy

By Distribution Channel Insights

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

Offline distribution channels in the market include rental offices, travel agents, and hotel partnerships. These channels provide a tangible and convenient option for customers who may not feel comfortable using online platforms or who lack access to them. Additionally, offline rentals often attract spontaneous travelers or those in need of immediate assistance, as they can simply visit a rental office and secure a vehicle on the spot.

Travel agencies also play a significant role in the offline segment. Collaborating with these agencies allows vehicle rental companies to reach a wider audience, particularly tourists and business travelers, who often rely on travel agents for comprehensive travel services. Hotels also contribute to the offline distribution of rental vehicles. Many hotels partner with car rental companies to offer on-site services, enabling guests to book transportation directly through hotel concierges. These factors combined are expected to drive growth in the vehicle rental market in Europe during the forecast period.

Get a glance at the market report of share of various segments Request Free Sample

Market Dynamics

Our market researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in the adoption of the market?

Growing awareness about rental cars among European people is the key driver of the market.

The market is experiencing significant growth due to shifting consumer preferences towards mobility solutions. The tre

Graph and download economic data for Producer Price Index by Industry: Passenger Car Rental and Leasing (PCU5321153211) from Dec 2003 to Sep 2025 about leases, rent, vehicles, PPI, industry, inflation, price index, indexes, price, and USA.

The global car rental market within the tourism industry is experiencing robust growth, driven by the increasing popularity of leisure travel and the rising preference for self-drive vacations. The market's Compound Annual Growth Rate (CAGR) of 8.00% from 2019-2033 indicates a significant expansion, projected to reach a substantial market size by 2033. This growth is fueled by several factors. The rise of online booking platforms offers travelers convenience and competitive pricing, boosting market penetration. Furthermore, the diversification of vehicle options, catering to both budget-conscious travelers (economy vehicles) and luxury seekers (premium vehicles), broadens the market appeal. The increasing adoption of rental cars by both individual tourists and travel agencies further contributes to market expansion. While data for the specific market size in 2025 is unavailable, considering the 8.00% CAGR and estimating a 2019 market size based on industry averages, a reasonable projection for 2025 market value is plausible (specific value estimation requires more initial data, but using standard projection models, we can estimate this size as XX million dollars, where XX is a value calculated using appropriate models and data available from various sources). Geographic variations are also prominent. North America and Europe currently dominate the market, though the Asia-Pacific region, particularly China and India, shows immense potential for growth due to rising middle-class incomes and increasing tourism. However, market growth faces certain constraints, including fluctuating fuel prices, stringent regulations on vehicle emissions, and the increasing popularity of alternative transportation options such as ride-sharing services. Nevertheless, the continuous innovation within the car rental sector, including the adoption of advanced technologies like mobile apps and automated booking systems, will counterbalance these challenges and drive the continued expansion of the car rental market within the tourism industry. Key players in this competitive market, including Hertz, Enterprise, Avis, and Sixt, are actively investing in technological advancements and strategic partnerships to maintain their market share and capitalize on emerging opportunities. This report provides a detailed analysis of the global car rental market within the tourism industry, covering the period from 2019 to 2033. With a base year of 2025 and a forecast period spanning 2025-2033, this study offers invaluable insights for businesses operating in this dynamic sector and investors seeking opportunities in a multi-billion dollar market. The report leverages extensive data analysis to provide forecasts and strategic recommendations, focusing on key trends, challenges, and growth drivers. This in-depth analysis covers market segmentation by vehicle type (economy, luxury/premium), booking mode (online, offline), and end-user (self-driven, rental agencies), examining market dynamics impacting major players like The Hertz Corporation, Enterprise Holdings Inc., Avis Budget Group Inc., and Sixt SE. Recent developments include: In January 2022, ekar, the Middle East's mobility company, launched its operations in Thailand starting with Bangkok and with plans to expand into other countries. ekar is launching its proprietary car subscription service which offers cars from one to nine-month terms for a single monthly subscription cost with no down payments or long-term commitments via the ekar app., In December 2021, Volkswagen announced plans to acquire Europcar in France and launched USD 3.4 billion. The acquisition will be handled by Green Mobility Holding, a dedicated vehicle of which Volkswagen will own two-third., In November 2021, Hertz rentals partnered with Tesla Motors, to supply 100,000 Model 3S by 2022, and news that half of these vehicles are expected to be rented out to Uber drivers., In July 2021, Key'n Go, which is operated by Goldcar, the low-cost brand of Europcar Mobility Group allows customers to benefit, at scale, from a 100% digital, safe and fast solution to book, pick up & return their vehicle in 35 key leisure airports in Southern Europe, In February 2021, Theeb Rent a Car, a Saudi-based car rental company extended its car rental fleet in the Kingdom. The company has added more than 1,700 cars from luxury brands such as BMW, Mercedes, and also economic models such as Chevrolet, Kia, Ford, Nissan, Toyota, and Hyundai, including the new 2021 models.. Key drivers for this market are: Growing Use of Aluminum in Die Casting Equipment to Increase Market Demand. Potential restraints include: Fluctuations in Raw Material Prices. Notable trends are: Online Booking Expected to Witness Significant Growth during the Forecast Period.

The global automotive rental market is experiencing robust growth, projected to reach a market size of $105.88 billion in 2025 and exhibiting a Compound Annual Growth Rate (CAGR) of 7.3% from 2025 to 2033. This expansion is driven by several key factors. Increased travel and tourism, particularly leisure travel, are fueling demand for rental vehicles, especially in regions with underdeveloped public transportation systems. The rise of the sharing economy and the increasing popularity of peer-to-peer car rentals are also contributing to market growth. Furthermore, the business travel segment continues to play a significant role, with companies utilizing rental cars for employee mobility and short-term transportation needs. Airport rental locations remain crucial for capturing a substantial portion of the market, although off-airport rentals are gaining traction due to improved accessibility and potentially lower pricing. The market is segmented by rental type (leisure and business) and location (airport and off-airport), allowing rental companies to tailor their services to specific customer segments. Competition is fierce among major players such as Enterprise, Hertz, Avis Budget Group, and others, prompting innovation in fleet management, technology integration (e.g., mobile apps for booking and management), and customer service offerings to enhance market share and customer loyalty. The competitive landscape is dynamic, with both large multinational corporations and regional players vying for market dominance. Differentiation strategies focus on pricing, vehicle types, service offerings (e.g., insurance packages, add-on services), and geographical reach. The market is expected to see further consolidation through mergers and acquisitions, particularly among smaller regional operators. Factors such as fluctuating fuel prices, economic downturns, and the emergence of alternative transportation solutions (e.g., ride-sharing services) could pose challenges to the sustained growth of the automotive rental market. However, the overall outlook remains positive, driven by the continuous growth of travel and tourism and the ongoing adoption of rental vehicles as a convenient and flexible transportation option across diverse sectors.

View monthly updates and historical trends for US Consumer Price Index: Car and Truck Rental. Source: Bureau of Labor Statistics. Track economic data with…

The North America Vehicle Rental Market Report is Segmented by Vehicle Type (Luxury Cars and More), Application Type (Lesiure Travel and More), Rental Duration (Short-Term and Long-Term), Booking Type (Online and Offline), Customer Type (Individual and More), Rental Locaion (On-Airport and More), Fuel Type (Internal Combustion Engine (ICE) and More), and Country. The Market Forecasts are Provided in Terms of Value (USD).