Car Rental Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

This Industry Report Covers Global Car Rental Market Overview and is Segmented by Booking Type (Offline Access and Online Access), Application Type (Leisure/Tourism and Business), Vehicle Type (Luxury/Premium Car and Economy/Budget Cars), End User (Self-Driven and Chauffeur-Driven), Rental Length (Short Term and Long Term), and Geography (North America, Europe, Asia-Pacific, South America, and Africa). The Report PDF Offers the Market Size, Market Value, and Forecasts in Value (USD Billion) for all the Above Market Segments.

Car Rental Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Car Rental Market Size

Car Rental Market Summary
Study Period 2019 - 2030
Market Size (2025) USD 146.30 Billion
Market Size (2030) USD 243.76 Billion
CAGR (2025 - 2030) 10.75 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Car Rental Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Car Rental Market with other markets in Automotive Industry

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Car Rental Market Analysis

The Car Rental Market size is estimated at USD 146.30 billion in 2025, and is expected to reach USD 243.76 billion by 2030, at a CAGR of greater than 10.75% during the forecast period (2025-2030).

The COVID-19 pandemic significantly impacted travel and tourism across the world. This had a huge effect on car rental and the ride-and-share transport segment. The pandemic resulted in company rating downgrades and market volatility. However, the market started showing resilience once the restrictions were eased. 

Additionally, the chip shortage hampered global vehicle production in 2021, and consumers shifted toward car rental, considering the cost-saving offered by car rental services in terms of maintenance and ownership, impacting industry revenue. 

The positive growth trajectory of the car rental market share is fueled by various factors, including the increasing number of tourists and business travelers, changes in consumer preferences due to health concerns, and the convenience of digital platforms for car hire. 

Further, the market trend of combining leisure with business trips, particularly by younger business travelers, is being adopted by companies to promote staff retention. Additionally, the stringent government regulations on car buying and driving across different regions also favor the expansion of the car rental business, as observed in the industry analysis. 

According to the industry statistics, the popularity of the car rental industry is rising as the number of online rental platforms increases. This industry analysis reveals that more than 60% of the population has access to the internet, which is anticipated to contribute significantly to the industry growth. 

 According to market forecast, the car rental market growth rate is expected to continue thriving on a positive track owing to the flourishing travel and tourism industry worldwide.

Car Rental Industry Overview

The global market is fragmented, with numerous international and domestic companies operating across the world, according to market statistics. The industry overview highlights that the key participants include Enterprise Rent-A-Car, The Hertz Corporation, Sixt SE, Europcar, and Avis Budget Group. The primary focus of these players is on enhancing their services to gain a customer base and maximize profitability, contributing to the industry value. Collaboration is another key strategy implemented by industry players to strengthen their positions in the market.  

  • In April 2023, Hertz Global and Andre Dickens, the Mayor of Atlanta, launched Hertz Electrifies Atlanta, a PPP aimed at accelerating the adoption of electric vehicles and expanding the environmental and economic benefits of electrification in Atlanta.

Car Rental Market Leaders

  1. Avis Budget Group Inc.

  2. Sixt

  3. Hertz Corp.

  4. Enterprise Holdings Inc.

  5. Europcar Group

  6. *Disclaimer: Major Players sorted in no particular order
Car Rental Market Concentration
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Car Rental Market News

  • November 2023: MakeMyTrip, an Online travel agency, announced its entry into the car rental market with the acquisition of Indian intercity car rental company Savaari. The acquisition is a small ticket investment within the USD 10 million range.
  • August 2023: Avis Budget Group announced a strategic partnership with Albatha Automotive Group to add the Budget Rent a Car and Payless Car Rental brands to the latter’s mobility services portfolio. The newly founded division of Albatha Group will include the Budget and Payless car rental brands. It will also provide a range of self-drive and chauffeur-driven services, including rental cars and leasing for passenger and commercial vehicles. 
  • March 2023: IndusGo, the leading self-drive car rental company, raised funding of INR 200 crore from its parent company, Indus Motors. IndusGo is a prominent player operating in South India. It plans to start its car rental operations across Bengaluru and Hyderabad.

Car Rental Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Drivers
    • 4.1.1 Growing Travel and Tourism Industry is Driving the Car Rental Market
  • 4.2 Market Restraints
    • 4.2.1 Increasing Popularity of Ride-Sharing Services Pose Challenges for the Conventional Car Rental Market
  • 4.3 Porter's Five Forces Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION (Market Size in Value USD billion)

  • 5.1 Booking
    • 5.1.1 Offlne Access
    • 5.1.2 Online Access
  • 5.2 Application
    • 5.2.1 Leisure/Tourism
    • 5.2.2 Business
  • 5.3 End User
    • 5.3.1 Self-driven
    • 5.3.2 Chauffeur-driven
  • 5.4 Vehicle Type
    • 5.4.1 Economy/Budget Cars
    • 5.4.2 Luxury/Premium Cars
  • 5.5 Rental Length
    • 5.5.1 Short Term
    • 5.5.2 Long Term
  • 5.6 Geography
    • 5.6.1 North America
    • 5.6.1.1 United States
    • 5.6.1.2 Canada
    • 5.6.1.3 Rest of North America
    • 5.6.2 Europe
    • 5.6.2.1 Germany
    • 5.6.2.2 United Kingdom
    • 5.6.2.3 France
    • 5.6.2.4 Spain
    • 5.6.2.5 Rest of Europe
    • 5.6.3 Asia-Pacific
    • 5.6.3.1 India
    • 5.6.3.2 China
    • 5.6.3.3 Japan
    • 5.6.3.4 South Korea
    • 5.6.3.5 Rest of Asia-Pacific
    • 5.6.4 Rest of the World
    • 5.6.4.1 South America
    • 5.6.4.2 Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share
  • 6.2 Company Profiles*
    • 6.2.1 Avis Budget Group Inc.
    • 6.2.2 Hertz Global Holdings Inc.
    • 6.2.3 Enterprise Holdings Inc.
    • 6.2.4 Sixt SE
    • 6.2.5 Fast Rent a Car
    • 6.2.6 Bettercar Rental
    • 6.2.7 Europcar Mobility Group
    • 6.2.8 Shenzhen Topone Car Rental Co. Ltd
    • 6.2.9 China Auto Rental
    • 6.2.10 TT Car Transit
    • 6.2.11 Renault Eurodrive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 The Growing Demand for EVs Presents Lucrative Opportunities for the Car Rental Market
**Subject to Availability
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Car Rental Industry Segmentation

A car rental, hire car, or car hire agency is a company that rents automobiles for short periods of time to the public, generally ranging from a few hours to a few weeks. The car rental industry statistics report covers the latest market trends and technological developments. 

The car rental industry report is segmented by booking type, application type, vehicle type, end-user, rental length, and geography. By booking type, the market is segmented into offline access and online access. By application type, the target market is segmented into leisure/tourism and business. By vehicle type, the market is segmented into luxury/premium cars and economy/budget cars. By end-user, the market is segmented into self-driven and chauffeur-driven. By rental length, the market is segmented into short-term and long-term. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Africa.

For each market segmentation, the industry size, market share, and forecasts have been calculated based on value (USD).

Booking Offlne Access
Online Access
Application Leisure/Tourism
Business
End User Self-driven
Chauffeur-driven
Vehicle Type Economy/Budget Cars
Luxury/Premium Cars
Rental Length Short Term
Long Term
Geography North America United States
Canada
Rest of North America
Europe Germany
United Kingdom
France
Spain
Rest of Europe
Asia-Pacific India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World South America
Middle-East and Africa
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Car Rental Market Research FAQs

How big is the Car Rental Market?

The Car Rental Market size is expected to reach USD 146.30 billion in 2025 and grow at a CAGR of greater than 10.75% to reach USD 243.76 billion by 2030.

What is the current Car Rental Market size?

In 2025, the Car Rental Market size is expected to reach USD 146.30 billion.

Who are the key players in Car Rental Market?

Avis Budget Group Inc., Sixt, Hertz Corp., Enterprise Holdings Inc. and Europcar Group are the major companies operating in the Car Rental Market.

Which is the fastest growing region in Car Rental Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Car Rental Market?

In 2025, the North America accounts for the largest market share in Car Rental Market.

What years does this Car Rental Market cover, and what was the market size in 2024?

In 2024, the Car Rental Market size was estimated at USD 130.57 billion. The report covers the Car Rental Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Car Rental Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Car Rental Industry Report

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.