The Car Rental Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Car Rental Market?
The car rental market has steadily expanded over the past few years. The market size is projected to increase from $207.58 billion in 2024 to $216.1 billion in 2025, meeting a compound annual growth rate (CAGR) of 4.1%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Car Rental Industry?
The Car Rental Global Market is projected to reach a market size of $261.18 billion in 2029, growing at a compound annual growth rate (CAGR) of 4.9%.
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What are the Key Growth Drivers Fueling the Car Rental Market?
The key drivers in the car rental market are:
• Shift in consumer preferences towards car rentals
• Increasing integration of electric and sustainable vehicles in rental fleets
• Changes in work patterns promoting remote work and car rentals
• Recovery of tourism industry post-pandemic and adoption of subscription-based models.
Global Market Segmentation: Identifying Major Car Rental Industry Segments
The car rental market covered in this report is segmented –
1) By Vehicle Type: Luxury Cars, Executive Cars, Economy Cars, SUVs, MUVs
2) By Booking Type: Online, Offline
3) By Application: Local Usage, Airport Transport, Outstation, Other Applications
4) By End User: Self-Driven, Chauffeur-Driven
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What are the Emerging Trends Shaping the Future of the Car Rental Market?
The key trends in the car rental market are:
• Shift in consumer preferences and the emergence of subscription-based models are shaping the car rental market.
• The integration of electric and sustainable vehicles is a prominent upcoming trend.
• Changing work patterns, like remote work, and tourism recovery post-pandemic are influencing the market.
• Technology investments, digital advancements, and a focus on contactless rental services are major trends in the forecast period.
Who Are the Top Competitors & Leading Players in the Car Rental Market?
The major players in the car rental market are:
• Enterprise Rent Car LLC
• The Hertz Corporation
• SIXT SE
• Europcar Rental Company
• Avis Budget Group Inc
Regional Dominance: Which Area Leads the Global Car Rental Market?
North America was the largest region in the car rental market in 2024
