The Passenger 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 Passenger Car Rental Market?
The Passenger Car Rental market has seen stable expansion over recent years. The market, which was worth $161.69 billion in 2024, is projected to reach a size of $167.3 billion in 2025, increasing at a Compound Annual Growth Rate (CAGR) of 3.5%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Passenger Car Rental Industry?
The Passenger Car Rental market is projected to reach a value of $188.51 billion in 2029, growing at a Compound Annual Growth Rate (CAGR) of 3.0%.
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What are the Key Growth Drivers Fueling the Passenger Car Rental Market?
The key drivers in the passenger car rental market are:
• Growth in international travel
• Rise in business and corporate travel
• Sustainability and environmental concerns
• Changes in consumer behavior Post-pandemic
Global Market Segmentation: Identifying Major Passenger Car Rental Industry Segments
The passenger car rental market covered in this report is segmented –
1) By Vehicle Type: Luxury Cars, Executive Cars, Economy Cars, Sports Utility Vehicle(SUV), Multi Utility Vehicle(MUV)
2) By Rental Duration: Long-Term, Short-Term
3) By Application: Local Usage, Airport Transport, Outstation, Others
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What are the Emerging Trends Shaping the Future of the Passenger Car Rental Market?
The key trends in the passenger car rental market are:
• Collaborations with ride-hailing services are shaping the future of the passenger car rental market.
• The expansion of short-term rentals is an emerging trend.
• The introduction of corporate car rental programs is gaining momentum.
• The integrations of autonomous vehicles and customization of rental experiences are driving changes in the sector.
Who Are the Top Competitors & Leading Players in the Passenger Car Rental Market?
Major companies in the passenger car rental market are:
• Avis Budget Group Inc.
• Sixt SE
• Hertz Global Holdings Inc.
• Enterprise Holdings Inc.
• Europcar Mobility Group SA
• Localiza Rent a Car SA
• Carzonrent India Pvt Ltd.
• Eco Rent a Car
• ANI Technologies Pvt Ltd.
• Tourism Holdings Ltd.
• SK Rent A Car Co. Ltd.
• ALD Automotive SA
• Autohellas SA
• Alamo RenT-a-Car LLC
• National Car Rental
• Dollar Rent A Car
• Thrifty Car Rental
• Advantage Rent A Car
• Payless Car Rental Inc.
• Budget Rent a Car
• Firefly Car Rental
•E-Z RenT-A-Car
• Fox Rent A Car
• Green Motion
• InterRent International Rent a Car
• RenT-A
•Wreck
• Silvercar Inc.
• Turo Inc.
• Zipcar Inc.
Regional Dominance: Which Area Leads the Global Template Market?
North America was the largest region in the passenger car rental market in 2024
