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).

Pent-up demand for travel and a limited supply of new vehicles caused Car Rental industry revenue to surge in 2021 and 2022, as high demand and low supply elevated rental prices. More recently, the industry has grappled with a swift devaluation of electric vehicle models and falling passenger volumes at airports, which are vital to success. As travel demand normalizes and new vehicle production stabilizes, car rental companies are adapting by implementing strategies, including optimizing fleet sizes and strengthening digital platforms. Industry revenue has climbed at a CAGR of 6.2% to reach $60.7 billion through the end of 2025, despite a 1.3% drop in 2025 alone. Profit has recovered from the lows endured during the pandemic, accounting for an estimated 8.3% of industry revenue in 2025. On the bright side, the return of business travel gives the industry a boost, as resuming corporate events and networking activities have strengthened rental demand among companies, promising more stable revenues and customers desiring top-tier services. However, new challenges have unfolded, including stronger competition from ride-sharing services. Car rental providers are adopting responsive strategies, such as digital check-ins, contactless pickups, flexible drop-offs and dynamic pricing. They've had to rebalance fleet sizes to match booking volumes while enhancing digital capabilities to attract tech-savvy travelers. The growing number of international visitors, driven by mega-events like the FIFA 2026 World Cup and the 2028 Summer Olympics, offers an opportunity for car rental companies to soar through the next five years to 2030. Preparations for these influxes, such as investing in premium fleet options and forging partnerships with travel aggregators and tour operators, are in full swing. The industry will gear up for technological advancements like limited deployments of self-driving cars. Car rental providers will actively seek strategic collaborations like affiliate programs or partnerships with travel platforms and public transit providers to extend their reach. Despite some headwinds, the industry appears ready for the challenges ahead, leveraging innovation, adaptability and strategic partnerships. Car rental revenue will expand at a CAGR of 2.2% to $67.5 billion through the end of 2030.

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.

Car Rental Industry Analysis in the United States

Competitive Outlook

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 United States car rental market reached USD 32.99 Billion in 2024. The market is expected to grow at a CAGR of 6.20% between 2025 and 2034, reaching almost USD 60.20 Billion by 2034.

USD 35.33 Billion in 2024; projected USD 82.38 Billion by 2033; CAGR 9.87%.

The revenue in the 'Car Rentals' segment of the shared mobility market in the United States was modeled to amount to ************* U.S. dollars in 2024. Between 2017 and 2024, the revenue rose by *********** U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The revenue will steadily rise by ************ U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.Further information about the methodology, more market segments, and metrics can be found on the dedicated Market Insights page on Car Rentals.

Market Size and CAGR: The North America vehicle rental market was valued at approximately $XX million in 2025 and is projected to grow at a CAGR of 9.00% during the period 2025-2033. The growth of the market is primarily attributed to increasing tourism, business travel, and the rising popularity of online booking platforms. Key Drivers, Trends, and Restraints: The key drivers of the market include the growing demand for convenience, cost-effectiveness, and flexibility in transportation. The trend towards online booking and the increasing availability of mobile apps have further contributed to the market's growth. However, factors such as concerns over safety and security, as well as rising fuel prices, may act as restraints to the market's expansion. North America vehicle rental market is expected to witness a remarkable growth in the near future. The growth of this market is attributed to a number of factors, including the increasing popularity of travel and tourism, the rising number of business travelers, and the growing demand for convenient and affordable transportation options. The North America vehicle rental market is highly concentrated, with a few major players accounting for a significant share of the market. These players include Enterprise Holdings Inc., Hertz Corporation, Avis Budget Group Inc., and Sixt SE. These companies offer a wide range of vehicles to meet the needs of different customers, from economy cars to luxury vehicles. Recent developments include: In June 2022, Hertz Company announced a USD 4.2 billion deal to purchase 100,000 Tesla fully electric vehicles (EVs) by the end of 2022 set off a race among rental car agencies. Hertz did not state the overall number of vehicles in its fleet so it's unknown how many Teslas are available in the more than 30 markets currently offering EVs, which now also include the first of the 65,000 Polestar 2s - an EV brand jointly owned by Volvo and its Chinese parent Geely which has planned to go public through a SPAC deal., In September 2021, Enterprise Holdings announced its collaboration with Microsoft for bringing connected car technology to the former company's car rental, commercial trucks, and exotic vehicle rental fleets in the United States and soon the UK and Canada. Through this collaboration, Enterprise Holding is expected to advance the streamlined rental experience of the future., In October 2021, the Enterprise Holdings subsidiary announced an agreement to acquire Walker Vehicle Rentals, a commercial vehicle rental company. Enterprise has its presence in the commercial vehicle rental market in Ireland and the acquisition helped the business to enhance the choice and value of vehicles and services it delivers to organizations.. Key drivers for this market are: Growth in Construction Industry. Potential restraints include: High Maintenance Cost of Construction Equipment. Notable trends are: Short term Rental Segment of Market Expected to Drive Demand in the Market.

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).

United States Car Rental market Size, Share, Trend & Market Analysis By Type, By Distribution Channel, By End User, Competition, Forecast & Opportunities.

The penetration rate in the 'Car Rentals' segment of the shared mobility market in the United States was modeled to amount to ***** percent in 2024. Between 2017 and 2024, the penetration rate rose by **** percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The penetration rate will steadily rise by **** percentage points over the period from 2024 to 2030, reflecting a clear upward trend.Further information about the methodology, more market segments, and metrics can be found on the dedicated Market Insights page on Car Rentals.

USD 47.78 Billion in 2024; projected USD 112.09 Billion by 2033; CAGR 10.01%.

Airport Car Rental Market Outlook

According to our latest research, the global airport car rental market size reached USD 42.7 billion in 2024, reflecting robust demand and a dynamic travel sector. The market is poised for steady growth, with a projected CAGR of 6.3% from 2025 to 2033, leading to a forecasted value of USD 73.2 billion by 2033. This expansion is primarily driven by the resurgence of global air travel, increasing business and leisure tourism, and the growing preference for flexible, private mobility solutions among travelers.

The airport car rental market is experiencing significant momentum due to the rapid recovery of the tourism and travel industry post-pandemic. The reopening of international borders, relaxation of travel restrictions, and a surge in both business and leisure air travel have directly contributed to heightened demand for airport-based car rental services. Travelers increasingly prioritize convenience, safety, and flexibility, making car rentals an attractive option for seamless ground transportation upon arrival at their destinations. Additionally, the proliferation of low-cost airlines and the expansion of airport infrastructure in emerging economies are further augmenting the marketÂ’s growth trajectory, as more travelers seek personalized mobility solutions to explore new destinations efficiently.

Another critical growth driver is the technological transformation within the airport car rental market. The integration of advanced digital platforms, mobile applications, and contactless rental processes has revolutionized the customer experience, making it easier than ever to book, modify, and manage rentals on the go. Online booking platforms now offer real-time vehicle availability, transparent pricing, and personalized offers, catering to the evolving preferences of tech-savvy travelers. Furthermore, the adoption of connected vehicles, telematics, and AI-powered fleet management systems has enabled service providers to optimize operations, enhance vehicle utilization, and deliver superior customer service. These technological advancements not only streamline the rental process but also contribute to increased customer satisfaction and loyalty, fueling further market growth.

Sustainability trends are also reshaping the airport car rental landscape. As environmental awareness grows, travelers and corporate clients are increasingly opting for eco-friendly vehicles, such as hybrid and electric cars, to reduce their carbon footprint. Rental companies are responding by expanding their green fleets and investing in sustainable business practices, including carbon offset programs and energy-efficient operations. This shift towards sustainability aligns with broader industry efforts to support greener mobility solutions and meet the expectations of environmentally conscious customers. As a result, the integration of sustainable vehicles and practices is emerging as a key differentiator for airport car rental providers, driving both market share and long-term growth.

The concept of Vehicle Rental has evolved significantly over the years, particularly in the context of airport car rentals. As travelers increasingly seek convenience and flexibility, vehicle rental services have adapted to meet these demands by offering a wide range of options, from economy cars to luxury vehicles. This evolution is driven by the need to provide seamless mobility solutions that cater to diverse customer preferences, whether for a short business trip or an extended vacation. The integration of digital platforms has further enhanced the vehicle rental experience, allowing customers to easily book and manage their rentals online, ensuring a hassle-free journey from the moment they land at the airport.

From a regional perspective, North America continues to dominate the airport car rental market, accounting for the largest revenue share in 2024, followed closely by Europe and the Asia Pacific. The mature travel infrastructure, high frequency of business and leisure air travel, and the presence of major international airports underpin North AmericaÂ’s leadership position. Meanwhile, the Asia Pacific region is witnessing the fastest growth, fueled by rising disposable incomes, expanding middle-class populations, and increasing air traffic in countries such as China, India, and Southeast Asi

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.

The North America car rental market reached USD 48.55 Billion in 2024. The market is expected to grow at a CAGR of 6.60% between 2025 and 2034, reaching almost USD 91.99 Billion by 2034.

Market Size statistics on the Car Rental industry in the US

The Car Rental Market offers a wide range of vehicle types to meet diverse customer needs, including luxury, executive, economy, SUVs, and specialty vehicles. Each segment caters to specific customer preferences and budget constraints. Factors such as vehicle age, brand, and features influence rental rates and customer choices. Recent developments include: ​February 2023: UFODrive Partners with CarTrawler on EV Rentals, UFODrive, an app-based EV rental company, announced a new partnership with CarTrawler, a global B2B provider of Rental Car and mobility solutions to the travel industry. CarTrawler’s end-to-end technology platform is already used by United Airlines, American Express, easyJet, Alaska Airlines, SWISS, Hotels.com and Emirates. From more than 30 locations in Europe and the United States, customers will be able to bypass lines, forget keys, and drive away in minutes., Hyundai rolls out monthly EV rental program, Hyundai says it’s working to satiate drivers’ electric vehicle (EV) curiosity with a new subscription service that allows users to lock into an EV contract on a month-by-month basis. Its Evolve+ EV subscription service for the Kona Electric and IONIQ 5 models is a move being marketed as a “flexible and affordable” way for consumers to test the waters on new vehicles without committing to a long-term lease or purchase.“With no paperwork, no commitment, and no long-term loan, Evolve+ is an optimal solution for the ‘EV-curious’ car shopper,” said Olabisi Boyle, Hyundai Motor North America’s vice president of product planning and mobility strategy.. Key drivers for this market are: Increasing tourism and business travel Growing demand for convenience and flexibility. Potential restraints include: Economic fluctuations and downturns Competition from ride-hailing services and shared mobility solutions. Notable trends are: Budget Rental Cars services growth in the travel and tourism industry across the globe Increased adoption of artificial intelligence (AI) and machine learning (ML) for personalized recommendations and dynamic pricing Rise of subscription-based car rental models.

In 2024, the arpu in the 'Car Rentals' segment of the shared mobility market in the United States was modeled to amount to ****** U.S. dollars. Between 2017 and 2024, the figure dropped by **** U.S. dollars, though the decline followed an uneven course rather than a steady trajectory. The forecast shows the arpu will steadily grow by ***** U.S. dollars from 2024 to 2030.Further information about the methodology, more market segments, and metrics can be found on the dedicated Market Insights page on Car Rentals.

Car sharing has emerged as a dynamic force in urban mobility, bringing innovation and operational challenges as companies race to capture city markets. Car sharing companies are quickly adapting to changing consumer preferences by implementing intuitive app-based booking systems and leveraging connected vehicle technologies to streamline logistics and improve customer experiences. Collaborations with local governments have provided stable revenue streams, while regulatory shifts toward net-zero emissions continue steering car sharing companies toward electric cars and infrastructure investment. Heightened competition with ride-sharing services and evolving consumer preferences require continual service diversity, as firms seek to stand out through flexibility, convenience and cost-conscious pursuits. Over the past five years, revenue has grown at a CAGR of 10.8%, reaching $1.6 billion, with an anticipated 0.9% rise in 2025. Profitability has confronted headwinds from high initial capital outlays for vehicle acquisitions and fleet upgrades. Startups entering the space face higher costs, lacking the volume discounts and purchasing leverage of larger providers. As EV adoption accelerates, procurement expenses for vehicles and charging infrastructure capture an expanding revenue share, constraining budgets for other investments. Depreciation has stood out as the most significant cost, particularly for operators managing and maintaining their vehicles, while peer-to-peer facilitators benefit from skipping direct ownership. Despite lean staffing needs at the ground level, competition for specialized tech talent has raised wage-related outlays, given the sector’s dependence on software, telematics and cybersecurity. Car sharing companies will need to balance modernization and infrastructure expansion while navigating uncertainty around government incentives and shifting market demand. Advancements in electric cars promise to lower long-term maintenance outlays and attract value-driven users. However, underserved charging infrastructure in non-urban and residential zones presents access challenges. Competition in the industry will intensify, particularly as major rental car agencies and automakers leverage scale, legacy systems and established networks to accelerate their programs. Meanwhile, expansion into autonomous vehicle technology through pilot programs and alliances offers the prospect of higher asset utilization and broader market reach, though regulatory and technological hurdles remain. Revenue is forecast to grow at a CAGR of 1.1%, reaching $1.6 billion by 2030.

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