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Car Rental Global Industry Guide 2020-2029

Summary

Global Car Rental industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume , and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

- Car rental refers to the short-term hiring of a motor vehicle from one party to another, typically excluding taxis. Our market scope includes only self-driven, short-term (i.e., less than 1 year) car rental data. It excludes leasing or rental of cars for more than one year and the chauffeur-driven cars/cabs.
- Market value includes car rentals for business, leisure purposes, and insurance replacement.
- The business segment covers annual revenue generated through customers whose primary purpose of travel is business. It also includes revenue generated through car rentals under negotiated contractual agreements between businesses and a rental company. The leisure segment includes all car rentals other than business rentals. Insurance replacement represents the amount paid by the insurance company to the car rental company for renting a car when their customer’s (corporate or individual) own car gets damaged and is being repaired. The hired car will be provided to the customer by the insurance company till the time the customer’s own car gets repaired. Market volumes represent the size of the rental car fleet (absolute unit) within the respective countries.
- By distribution channels, the market is segmented into airport and non-airport rentals. Airport rental includes all car rentals hired at car rental POS/offices/counters located at an airport, either within the terminal or next to the airport. It also includes a POS present near the airport (where no other mode of transport is used for commuting to reach that point of close proximity from where a car is being hired). Non-airport rentals cover everything except POS located in or by airports. The other distribution channel represents the value of the fleet rented for insurance purposes.
- All market data and forecasts are based on nominal prices, and all currency conversions used in the creation of this report have been calculated using the yearly annual average exchange rates. The USD values may show a declining trend for a few countries, such as Argentina, Turkey, Nigeria, Egypt, and Russia. This is primarily because of the impact of exchange rates considered.
- The global car rental market recorded revenues of $81,966.7 million in 2024, representing a compound annual growth rate (CAGR) of 1.8% between 2019 and 2024.
- Market consumption volume increased with a CAGR of 0.8% between 2019 and 2024, reaching a total of 7,027,685.3 Absolute units in 2024.
- The Asia-Pacific car rental market accounted for 14.3% of the global car rental market in 2024. The growth is driven by a rise in travel and tourism, largely attributed to an increase in consumer gross disposable income per household. According to the World Bank, the gross disposable income per household in China reached $26,581.3, reflecting a 6.6% increase from 2023.

Scope

- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the global car rental market
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the global car rental market
- Leading company profiles reveal details of key car rental market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the global car rental market with five year forecasts by both value and volume

Reasons To Buy

- What was the size of the global car rental market by value in 2024?
- What will be the size of the global car rental market in 2029?
- What factors are affecting the strength of competition in the global car rental market?
- How has the market performed over the last five years?
- What are the main segments that make up the global car rental market?