In 2024, Lotte rental accounted for the largest market share among major car rental companies, amounting to **** percent. It was followed by SK rent-a-car and Hyundai Capital, taking up around **** percent and **** percent each.

This statistic shows the size of the car rental market of South Korea in 2011, with forecasts up to 2020. South Korea's car rental market size was valued at *** trillion South Korean won in 2011 and was estimated to grow to around **** trillion South Korean won by 2020.

The South Korea car rental market size was nearly USD 1.51 Billion in 2024. The market is estimated to grow at a CAGR of 1.20% during 2025-2034, to reach USD 1.70 Billion by 2034.

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

This report is the result of Travel and Tourism Intelligence Center’s extensive market research covering the car rental market in South Korea. It contains detailed data on market dynamics along with latest industry happenings and industry players in South Korea. "South Korea Car Rental: Market Update" provides a top-level overview and detailed insight into the operating environment of the car rental market in South Korea. It is an essential tool for companies active across South Korea travel and tourism value chain and for new players considering to enter the market. Read More

In 2021, there were approximately ***** thousand rental cars registered in South Korea. This was an increase from the previous year. Overall, the rental car market has shown strong growth over the past few years in the country.

In 2024, Lotte rental accounted for the largest market share among major car rental companies, amounting to **** percent. It was followed by SK rent-a-car and Hyundai Capital, taking up around **** percent and **** percent each.

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 South Korea to 2024: 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 2015 to 2019. Read More

In 2024, Lotte rent a car ranked first with a brand competitiveness index that measured ** out of 100 in South Korea. The leading three car rental companies all maintained their ranking and score from the previous year.

Comprehensive dataset containing 9,958 verified Car rental agency businesses in South Korea with complete contact information, ratings, reviews, and location data.

Keyless Car Rental Market Outlook

According to our latest research, the Global Keyless Car Rental market size was valued at $2.1 billion in 2024 and is projected to reach $8.9 billion by 2033, expanding at a CAGR of 17.5% during 2024–2033. The primary driver fueling this impressive growth is the rapid adoption of digital and contactless mobility solutions, as both consumers and businesses increasingly seek convenience, safety, and efficiency in their travel experiences. The integration of smartphone-based access, IoT-enabled vehicle management, and seamless app-based booking platforms has revolutionized the car rental industry, making keyless car rental services a preferred choice for tech-savvy travelers and corporate clients alike. As technology continues to evolve and urban mobility patterns shift post-pandemic, the market for keyless car rentals is set for robust expansion worldwide.

Regional Outlook

North America currently commands the largest share of the global keyless car rental market, accounting for approximately 39% of the total market value in 2024. This dominance is attributed to the region’s mature car rental industry, high digital literacy among consumers, and early adoption of connected vehicle technologies. Leading rental companies in the United States and Canada have aggressively invested in keyless solutions, leveraging partnerships with automakers and tech startups to offer seamless, app-based vehicle access. The presence of strong infrastructure, favorable regulatory frameworks supporting digital mobility, and a large pool of business and leisure travelers further reinforce North America’s leadership position. Moreover, the proliferation of smart cities and the growing trend of urban mobility-as-a-service (MaaS) platforms create fertile ground for continued innovation and market penetration.

Asia Pacific is emerging as the fastest-growing region in the keyless car rental market, with an anticipated CAGR of 22.3% from 2024 to 2033. This remarkable growth is driven by rising urbanization, increasing disposable incomes, and a burgeoning middle class with a strong appetite for digital services. Markets such as China, India, Japan, and South Korea are witnessing significant investments in smart mobility infrastructure, while local and international rental operators are rapidly scaling their keyless fleets to cater to tech-savvy millennials and Gen Z consumers. Government initiatives promoting smart transportation and sustainable mobility, coupled with the widespread adoption of smartphones and mobile payments, are catalyzing the uptake of keyless rental solutions across the region. The expansion of ride-hailing and car-sharing ecosystems further accelerates the adoption curve, positioning Asia Pacific as a critical growth engine for the sector.

In emerging economies across Latin America, the Middle East, and Africa, the keyless car rental market is gradually gaining traction, albeit at a slower pace due to infrastructural and regulatory challenges. While demand is rising in urban centers driven by tourism and business travel, barriers such as limited digital infrastructure, lower smartphone penetration, and fragmented regulatory policies impede rapid adoption. However, localized demand for flexible mobility solutions is encouraging rental companies to pilot keyless offerings, particularly in major cities and tourist hotspots. Policy reforms aimed at modernizing transportation and increasing foreign investment in mobility services are expected to gradually unlock new opportunities in these regions. Nevertheless, overcoming consumer trust issues and ensuring robust cybersecurity remain pressing concerns for market participants.

Report Scope

South Korea Smart Mobility & Car Rentals Market valued at USD 2.5 Bn, driven by urbanization, tech adoption, and EV incentives. Key segments include car rentals and ride-hailing.

The South Korea used cars market was valued at USD 23.06 Million in 2024. The market is expected to grow at a CAGR of 10.80% during the forecast period of 2025-2034. Growing consumer preference for lightly used electric vehicles, driven by subsidy phase-outs and battery degradation awareness, is accelerating certified EV resale activity, especially in Seoul, Incheon, and Daejeon corridors. As a result, the market is expected to reach a value of USD 64.31 Million by 2034.

The South Korea used cars industry can be characterized as a fragmented network of dealerships and offline trading hubs that has now transformed into a smart, semi-digital ecosystem. Sites such as K Car and Hey Dealer provide B2B options with pricing engines fuelled by artificial intelligence, allowing corporate fleet operators and leasing companies to sell used cars in a transparent manner. For example, SK Encar delivers valuation utilities and car history reports, assisting B2B customers like car rental firms in asset disposal. The digitized systems reduce transaction time, enhance trust, and boost fleet turnover efficiency, which is key for companies aimed at maximizing resale margins and vehicle life management.

Certified pre-owned (CPO) programs, like Hyundai Motor’s CPO program and Mercedes-Benz Certified program, are transforming the South Korea used car market dynamics by offering automaker-approved quality assurance. Hyundai, Kia, and foreign brands now provide detailed inspections, prolonged warranties, and post-sales service through CPO showrooms. This pattern is gaining traction among B2B customers, particularly mobility service operators such as SoCar and GreenCar, who value the reliability of the vehicle and the cost of total ownership. CPO cars minimize operational risks and downtime, and they are ideal for business use.

In a survey carried out in South Korea in 2020 about automobiles, **** percent of respondents thought that cars were 'used' not 'owned'. Respondents overall leaned towards the idea that personal ownership would decrease in the future, with rentals or leases taking over the market. According to the source, the low initial costs were the largest factor for respondents interested in renting or leasing a car.

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Car Sharing Market Size 2025-2029

The car sharing market size is forecast to increase by USD 22.4 billion, at a CAGR of 22.1% between 2024 and 2029.

The market is experiencing significant growth, driven by increasing investments in autonomous car production and the subsequent integration of car sharing services. This trend is transforming the automotive industry, as companies explore new business models that leverage advanced technologies to offer more convenient and cost-effective mobility solutions. However, the market's expansion is not without challenges. Strict government regulations regarding emission control pose a significant obstacle, as policymakers seek to mitigate the environmental impact of these services. Additionally, rigid government regulations pertaining to car sharing services themselves create complex operational environments, necessitating compliance with various safety, insurance, and licensing requirements. Companies navigating this market must carefully balance innovation and regulatory compliance to capitalize on the opportunities presented by the evolving car sharing landscape.

What will be the Size of the Car Sharing Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market continues to evolve, with customer experience management playing a pivotal role in shaping the industry's trajectory. Public-private partnerships foster innovation, enabling the integration of dynamic pricing mechanisms that optimize fuel efficiency and promote green technology adoption. Multi-modal transportation networks and urban mobility solutions are seamlessly merging, with real-time vehicle tracking and on-demand transportation services streamlining urban transportation planning. Public transportation integration and parking management systems are key components of smart city initiatives, reducing carbon footprints and mitigating traffic congestion. Vehicle fleet management and inventory management are essential for optimizing vehicle utilization and ensuring regulatory compliance. Dynamic pricing mechanisms and user interface design are crucial in catering to diverse customer segments, with ride-hailing platforms and bike-sharing programs offering micro-mobility options. Peer-to-peer car sharing and ride-sharing partnerships are transforming the industry, with electric vehicle integration and subscription models gaining popularity. The ongoing integration of green technology, sustainability initiatives, and autonomous vehicles is revolutionizing the car sharing landscape. Vehicle telematics and mobile app development are enhancing the customer experience, while community engagement and traffic congestion mitigation are essential for long-term success. The evolving market dynamics of car sharing encompass various sectors, including intercity travel solutions, last-mile delivery services, and mobility-as-a-service (MAAS). Demand forecasting and environmental impact assessment are crucial in ensuring the sustainability and growth of these services. Spare parts management and payment gateway integration are vital components of vehicle maintenance schedules and ride-hailing platforms. In conclusion, the market is an ever-changing landscape, with continuous innovation and integration of various components shaping its future. From customer experience management to green technology adoption, the industry's dynamism is evident in its ongoing evolution.

How is this Car Sharing Industry segmented?

The car sharing industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. End-userBusinessIndividualMode Of BookingOnlineOfflineGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKAPACChinaIndiaJapanSouth KoreaRest of World (ROW).

By End-user Insights

The business segment is estimated to witness significant growth during the forecast period.The market is experiencing significant growth in the business segment due to various factors. One key driver is the adoption of this service for fleet optimization and cost reduction. By implementing car sharing, companies can save on fleet-related expenses and make efficient use of underutilized vehicles. Additionally, car sharing offers a sustainable mobility solution, enhancing corporate social responsibility. This not only decreases the need for car renting but also saves time and resources through advanced vehicle management. Furthermore, the integration of public transportation, real-time tracking, and multi-modal transportation networks enables seamless urban mobility. The implementation of green technology, electric vehicles, and micro-mobility options also contributes to the reduction of carbon footprints. Publ

Snow Tire Rental Market Outlook

According to our latest research, the global snow tire rental market size reached USD 1.42 billion in 2024, reflecting a robust demand for temporary winter tire solutions across key geographies. The market is projected to expand at a compound annual growth rate (CAGR) of 7.3% from 2025 to 2033, with the market size forecasted to reach USD 2.68 billion by 2033. This growth is primarily driven by the increasing frequency of severe winter weather events, rising awareness of road safety, and the growing trend toward flexible mobility solutions, as per our latest research findings.

The primary growth factor for the snow tire rental market is the increasing unpredictability and severity of winter weather patterns across North America, Europe, and Asia Pacific. With climate change resulting in more frequent snowstorms and icy conditions, vehicle owners and operators are increasingly seeking seasonal solutions that ensure both safety and compliance with local regulations. Snow tire rentals offer a cost-effective and convenient alternative to outright purchases, especially for consumers in urban regions where winter conditions are significant but not persistent throughout the year. This shift in consumer behavior is further supported by government mandates in several countries requiring the use of winter tires during specific months, thus fueling the demand for rental services.

Another key driver is the rising cost of vehicle ownership and maintenance, prompting both individual and commercial users to seek out flexible and budget-friendly options. The snow tire rental market has capitalized on this trend by offering tailored rental packages, including short-term, long-term, and seasonal contracts, which cater to the diverse needs of urban commuters, logistics companies, and fleet operators. The proliferation of online platforms has further simplified the rental process, enabling users to compare prices, check availability, and schedule installations with minimal hassle. This digital transformation is enhancing market accessibility and contributing significantly to overall market growth.

Technological advancements in snow tire design and rental logistics are also playing a pivotal role in accelerating market expansion. Modern snow tires, including studded, studless, and performance variants, offer superior traction, durability, and fuel efficiency, making them attractive to a wider customer base. Rental providers are leveraging advanced inventory management systems, predictive analytics, and mobile applications to streamline operations and improve customer experience. These innovations not only reduce operational costs but also ensure timely delivery and installation, thereby boosting customer satisfaction and repeat business in the snow tire rental market.

Regionally, Europe continues to dominate the snow tire rental market, accounting for over 37% of global revenue in 2024, owing to stringent winter tire regulations and a well-established rental infrastructure. North America follows closely, driven by increasing adoption in both the United States and Canada, particularly in areas prone to heavy snowfall. Asia Pacific is emerging as a fast-growing region, with countries like Japan and South Korea witnessing rising demand due to changing weather patterns and heightened safety awareness. Latin America and the Middle East & Africa represent smaller but steadily growing markets, supported by expanding automotive sectors and gradual regulatory shifts. The regional outlook remains positive, with each geography presenting unique opportunities and challenges for market participants.

Tire Type Analysis

The snow tire rental market is segmented by tire type into studded snow tires, studless snow tires, performance snow tires, and others. Studded snow tires, known for their exceptional grip on icy surfaces, remain a popular choice in regions experiencing extreme winter conditions. These tires are especially favored in Northern Europe, Canada, and select states in the United States where icy roads are common and regulations permit their use. Despite their effectiveness, the environmental impact of studded tires, such as road wear, has led to regulatory restrictions in some jurisdictions, slightly tempering their growth. Nevertheless, rental demand persists, particularly among commercial fleets and individual users preparing for severe winter events.

The global market size of Sri Lanka Car Rentals is $XX million in 2018 with XX CAGR from 2014 to 2018, and it is expected to reach $XX million by the end of 2024 with a CAGR of XX% from 2019 to 2024.
Global Sri Lanka Car Rentals Market Report 2019 - Market Size, Share, Price, Trend and Forecast is a professional and in-depth study on the current state of the global Sri Lanka Car Rentals industry. The key insights of the report:
1.The report provides key statistics on the market status of the Sri Lanka Car Rentals manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
2.The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
3.The report presents the company profile, product specifications, capacity, production value, and 2013-2018 market shares for key vendors.
4.The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
5.The report estimates 2019-2024 market development trends of Sri Lanka Car Rentals industry.
6.Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out
7.The report makes some important proposals for a new project of Sri Lanka Car Rentals Industry before evaluating its feasibility.
There are 4 key segments covered in this report: competitor segment, product type segment, end use/application segment and geography segment.
For competitor segment, the report includes global key players of Sri Lanka Car Rentals as well as some small players.
The information for each competitor includes:
* Company Profile
* Main Business Information
* SWOT Analysis
* Sales, Revenue, Price and Gross Margin
* Market Share

For product type segment, this report listed main product type of Sri Lanka Car Rentals market
* Product Type I
* Product Type II
* Product Type III

For end use/application segment, this report focuses on the status and outlook for key applications. End users sre also listed.
* Application I
* Application II
* Application III

For geography segment, regional supply, application-wise and type-wise demand, major players, price is presented from 2013 to 2023. This report covers following regions:
* North America
* South America
* Asia & Pacific
* Europe
* MEA (Middle East and Africa)
The key countries in each region are taken into consideration as well, such as United States, China, Japan, India, Korea, ASEAN, Germany, France, UK, Italy, Spain, CIS, and Brazil etc.

Reasons to Purchase this Report:
* Analyzing the outlook of the market with the recent trends and SWOT analysis
* Market dynamics scenario, along with growth opportunities of the market in the years to come
* Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
* Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
* Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
* Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
* Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
* 1-year analyst support, along with the data support in excel format.
We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.