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Global Car Rental Market Growth Forecast 2025–2033

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Global Car Rental Market Size, Trends, and Forecast (2024–2033) The Global Car Rental Market reached a valuation of USD 129.66 billion in 2024 and is projected to grow to USD 300.03 billion by 2033, registering a CAGR of 9.77% during the forecast period. This growth is propelled by booming tourism, evolving urban mobility patterns, the expansion of online reservation platforms, and increasing demand for flexible transportation solutions across corporate, leisure, and on-demand travel segments. Request a free sample copy of the report: https://www.renub.com/request-sample-page.php?gturl=car-rental-market-p.php

________________________________________ 1. Overview of the Global Car Rental Industry Car rental refers to the short-term leasing of vehicles — ranging from economy cars to luxury models — for hourly, daily, weekly, or extended durations. This service offers a cost-effective alternative to car ownership, benefiting travelers, corporate clients, and residents seeking temporary mobility. The rise of online booking platforms, mobile apps, and contactless check-in options has made renting a car more convenient than ever. Coupled with the decline in car ownership trends and the growing emphasis on mobility-as-a-service (MaaS), the market is witnessing rapid adoption worldwide. ________________________________________ 2. Key Growth Drivers A. Tourism and Business Travel Surge • Post-pandemic recovery has revitalized the tourism sector, with foreign visitor arrivals reaching 98% of pre-COVID levels in 2024. • Car rentals offer freedom, privacy, and access to destinations beyond the reach of public transport. • Airport-based rental hubs and city pickup points are thriving, especially in Europe, Asia-Pacific, and the Americas. B. Urbanization and Changing Ownership Preferences • Rising vehicle costs and limited parking in metropolitan areas are pushing people toward rentals and car-sharing. • Millennials and Gen Z are embracing pay-per-use mobility over long-term car ownership. C. Technology-Driven Transformation • Mobile-first booking platforms, contactless transactions, AI-powered fleet management, and GPS tracking are redefining user experience. • Example: In 2023, IndusGo raised USD 11.75 million to expand its self-drive rental services across India.

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________________________________________ 3. Market Challenges Rising Operating Costs • Higher vehicle acquisition expenses due to supply chain disruptions and semiconductor shortages. • Escalating insurance, fuel, and maintenance costs reducing profit margins. Regulatory and Liability Complexities • Diverse insurance rules, emission standards, and taxation policies across regions. • Transition to electric and hybrid fleets demands infrastructure upgrades and training. ________________________________________ 4. Market Segments By Booking Type: • Offline Booking • Online Booking By Rental Length: • Short Term • Long Term By Vehicle Type: • Luxury • Executive • Economy • SUVs • Others By Application: • Leisure/Tourism • Business By End-User: • Self-Driven • Chauffeur-Driven ________________________________________ 5. Regional Insights United States The largest global car rental market, driven by airport rentals, road trip culture, and strong infrastructure. • Dominated by Enterprise, Hertz, and Avis. • Fast adoption of EV fleets and app-based bookings. Germany High demand fueled by tourism, business travel, and Autobahn connectivity. • Sixt and Europcar lead with eco-friendly fleet expansion. China Rapidly expanding market supported by urbanization and domestic tourism growth. • Strong focus on electric mobility and app-based self-drive rentals. Saudi Arabia Boosted by Vision 2030 tourism goals and the rise of women drivers. • Growing demand for luxury SUVs and chauffeur-driven services. ________________________________________ 6. Notable Market Segments • Short-Term Rentals: Ideal for tourists, spontaneous trips, and city-based needs. • Luxury Rentals: Premium brands for weddings, VIP transfers, and corporate events. • Economy Rentals: Budget-friendly, fuel-efficient vehicles dominating market share. • Chauffeur-Driven Services: High demand in corporate travel, events, and tourism. ________________________________________ 7. Leading Market Players • Avis Budget Group, Inc. • Carzonrent India Pvt. Ltd. • Eco Rent A Car • Enterprise Holdings Inc. • Europcar Mobility Group • Localiza • Sixt SE • The Hertz Corporation ________________________________________ About the Company: Renub Research is a Market Research and Consulting Company with over 15 years of expertise in international B2B research, surveys, and consulting. We deliver comprehensive business research solutions that empower companies to make informed strategic decisions. Our expertise spans multiple industries, including Healthcare, Travel & Tourism, Food & Beverages, Energy, IT, Telecom, Chemicals, Logistics, Automotive, Consumer Goods, Retail, Construction, and Agriculture. Our team comprises seasoned professionals with advanced degrees (MBA, Ph.D., and more) in disciplines such as Finance, Marketing, Human Resource, Biotechnology, Medicine, IT, and Environmental Science. Contact Us: Company Name: Renub Research Contact Person: Rajat Gupta Phone: +91-120-421-9822 (IND) Email: [email protected]


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