Van Rental in Europe Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Europe Van Rental Market Size and It is Segmented by Application Type (Leisure/Tourism and Business), Booking Type (Offline and Online), Rental Duration (Short-Term and Long-Term), and Geography (Germany, United Kingdom, France, Spain, Italy, Belgium, Netherlands, Austria, Ireland, Luxembourg, and Rest of Europe). The Report Offers the Market Size and Forecast in Value (USD) for all the Above Segments.

Europe Van Rental Market Size

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Europe Van Rental Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 7.19 Billion
Market Size (2029) USD 9.44 Billion
CAGR (2024 - 2029) 5.60 %
Market Concentration Medium

Major Players

Europe Van Rental Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Europe Van Rental Market Analysis

The Europe Van Rental Market size is estimated at USD 7.19 billion in 2024, and is expected to reach USD 9.44 billion by 2029, growing at a CAGR of 5.60% during the forecast period (2024-2029).

  • The COVID-19 pandemic had a mixed impact on the van rental market. With the production halt across the original equipment manufacturers (OEMs) for new vans, the demand for vans for various cargo and last-mile delivery purposes was fulfilled by using rental schemes across the European region. However, with restricted cash flow, a significant reluctance of people towards utilizing new rental services over the existing vehicles has negated the positive impact due to the pandemic.
  • Over the long term, the increasing electrification could potentially reduce the opportunities for van rentals. Huge incentives offered by governments of different countries in the European region for the purchase of electric vehicles and commercial electric vehicles could potentially reduce the need for rental services if the products are offered at a lucrative price for the buyers. This factor could reduce market opportunities and hinder market growth.
  • However, major players in the market are focusing on electrifying their rental fleets. For instance, in January 2023, by 2025, rental giant Hertz plans to make up to 25,000 electric vehicles (EVs) accessible for rent to Uber drivers in European capitals. During 2023, the program will be expanded to other European capitals, including Paris and Amsterdam.
  • In addition, European Van rental companies cater majorly to tourists looking to explore the destinations in their own time, with online and walk-in booking services makinqg van rental more simple, accessible, and efficient. Relaxation of travel restrictions post-pandemic and increasing inflow of tourists into the market to create a positive outlook for the market during the forecast period.

Europe Van Rental Market Trends

Business Rental Segment Anticipated to Hold Major Share in the Market

  • The rise in commercial activities in the European region and the increasing logistics sector are expected to help Europe's van rental market grow during the forecast period. It will likely continue to grow during the forecast period as it helps European businesses meet the peaks and troughs of seasonal demand by providing suitable vans for the job at short notice, without any penalties or commitments.
  • Vehicle rental firms generally serve customers who need a temporary vehicle, such as those who do not own a vehicle, out-of-town tourists, or owners of damaged or destroyed automobiles awaiting repair or insurance settlement. Furthermore, with the growing logistics industry and the emergence of new e-commerce enterprises, rentals are the greatest way to lower their initial investment in purchasing delivery vans. Many Logistics company rents vans to lower their investments instead of purchasing new vehicle.
  • Vans find usage in several applications and segments of the European economy, i.e., construction, postal and courier services, law enforcement, and light-duty passenger transport applications. The demand has significantly grown owing to the logistics and last-mile delivery needs of e-commerce giants like Amazon expanding its fleet.
  • Also, due to stringent emission norms active in the European region, many companies are switching their fleets to electric. Several rental platforms partner with EV manufacturers to procure vehicles for their fleets. 
  • For instance, in March 2022, the Science Based Targets initiative validated Europcar Mobility Group's corporate greenhouse gas emissions reduction targets, which were deemed to be in accordance with the Science Based Targets initiative (SBTi) criteria and recommendations. The Group's strategy of actively contributing to the low-carbon transition by encouraging the shift from vehicle ownership to usage while empowering its customers to use green mobility solutions is reinforced by the approval of these carbon reduction targets.
  • Also, Europe's fast-expanding e-commerce market, which is seeing growth, is pushing the demand for a more modern distribution network, which is growing as the e-commerce business expands across Europe, pushing demand for van rentals for business purposes.
Europe Van Rental Market: Leading Industrial Transportation Companies in Europe in 2022, by Revenue (In Billion Euro)

United Kingdom Expected to Play Significant Role in the Market

  • According to the financial service provider, compared to the same period in 2022, it experienced a parabolic rise in van rental bookings in November. It is due in part to increased "festive demand" for larger vehicles as customers plan family vacations and an increase in van rentals to meet home delivery demands, according to the financial service provider. 
  • According to them, the semiconductor shortage limits new vehicles available to the UK market, forcing Brits to hire vehicles that are either larger or more dependable than their current automobiles.
  • The van rental sector is also experienced a winter boom, which Volkswagen Financial Services blames on customers shopping for Christmas gifts online. According to the business, the global chip scarcity is also affecting the van industry, which claims that rental vehicles are assisting fleet operators in expanding their ranks to meet the rising demand.
  • The UK van rental market has a strong presence of key players like Enterprise, Europcar, Hertz, Avis Budget, and others. For instance, in January 2022, in the United Kingdom, the London Electric Vehicle Company (LEVC) formed a new relationship with Europcar to deliver a fleet of 100 electric vans. 
  • The LEVC VN5 is now available in eleven cities at Europcar Vans and Trucks rental locations. The LEVC van is available for rent at Europcar locations. The agreement is part of Europcar's 'One Sustainable Fleet' initiative, which focuses on Clear Air zones, which are becoming increasingly common in UK cities. Based on these factors, the UK market is expected to grow significantly during the forecast period.
Europe Van Rental Market: Vehicle Rental Bookings by Brand in the United Kingdom in 2023

Europe Van Rental Industry Overview

The Europe Van Rental market is a moderately consolidated market with key players like Hertz Global Holdings Inc, Enterprise Holdings Inc, Europcar Mobility, Fraikin SA, Lease PLC, and Sixt SE. These players are actively engaged in the market and are focused on designing growth strategies like fleet expansions and collaborative agreements to improve their considerable share in the market. 

For instance, in October 2022, Hertz and Palantir Technologies Inc. announced a multi-year partnership to use real-time, data-driven insights to drive operational excellence at Hertz and improve the customer experience. This investment is part of Hertz's ongoing commitment to modernize its technology platforms to lead in electrification, shared mobility, and customer experience. Hertz is using the Palantir Foundry operating system to build a platform to help the company manage and operate its nearly 500,000-vehicle fleet, including tens of thousands of EVs, more efficiently.

Europe Van Rental Market Leaders

  1. Hertz Global Holdings Inc

  2. Enterprise Holdings Inc.

  3. Lease Plan Corporation

  4. Europcar Mobility Group

  5. Fraikin SAS

*Disclaimer: Major Players sorted in no particular order

Europe Van Rental Market Concentration
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Europe Van Rental Market News

  • September 2022: SIXT approved a comprehensive package of measures to electrify the fleet and establish its own charging infrastructure. The global SIXT fleet's electrified vehicle share (including plug-in hybrid electric vehicles (PHEVs) and mild hybrid electric vehicles (MHEV)) is expected to reach 12 to 15% by the end of 2023. By 2030, 70 to 90% of the company's vehicles in Europe will be electrified, and all of them will be bookable through the SIXT App.
  • February 2022: Hertz announced an investment to expand electric vehicle commitment with a new UFODRIVE partnership. As Hertz's commitment to leading the future of mobility, the company invested in UFODRIVE - the leading self-service electric vehicle rental company and e-Mobility service provider in Europe.
  • February 2022: Inzileand, the Spanish OK Mobility Group, formed a joint venture company to commercialize electric vehicles (EV) for the European rental sector. With the assistance and experience of OK Mobility Group and its marketing organization, Inzilewill design, homologate, and manufacture compact electric vehicles for delivery to this sector.

Europe Van Rental Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

      1. 4.1.1 Logistics Company may Drive the Growth of the Market

    2. 4.2 Market Restraints

      1. 4.2.1 Government Incentives for Buying New EV May Hamper the Market

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Application Type

      1. 5.1.1 Leisure/Tourism

      2. 5.1.2 Business

    2. 5.2 By Booking Type

      1. 5.2.1 Offline

      2. 5.2.2 Online

    3. 5.3 By Rental Duration

      1. 5.3.1 Short-term

      2. 5.3.2 Long-term

    4. 5.4 By Geography

      1. 5.4.1 Germany

      2. 5.4.2 United Kingdom

      3. 5.4.3 France

      4. 5.4.4 Spain

      5. 5.4.5 Belgium

      6. 5.4.6 Netherlands

      7. 5.4.7 Austria

      8. 5.4.8 Ireland

      9. 5.4.9 Luxembourg

      10. 5.4.10 Rest of Europe

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Avis Budget Group Inc. Hertz Global Holdings Inc.

      2. 6.2.2 Enterprise Holdings Inc.

      3. 6.2.3 Lease Plan Corporation

      4. 6.2.4 Europcar Mobility Group

      5. 6.2.5 Fraikin SAS

      6. 6.2.6 Peugeot Europe

      7. 6.2.7 SIXT SE

      8. 6.2.8 OK Mobility Group

      9. 6.2.9 Euro Hire Drive

      10. 6.2.10 One Way Van

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Europe Van Rental Industry Segmentation

Van rental is the service of hiring vans for short-term use, providing flexibility and convenience for transportation needs. Customers can choose from various van sizes and configurations, making it cost-effective and practical. Rental companies offer online booking services, ensuring a hassle-free experience.

The Europe van rental market is segmented by application type (leisure/tourism and business), booking type (offline and online), rental duration (short-term and long-term), and geography (Germany, United Kingdom, France, Spain, Italy, Belgium, Netherlands, Austria, Ireland, Luxembourg, and Rest of Europe). 

The report offers market size and forecast in value (USD) for all the segments mentioned above.

By Application Type
Leisure/Tourism
Business
By Booking Type
Offline
Online
By Rental Duration
Short-term
Long-term
By Geography
Germany
United Kingdom
France
Spain
Belgium
Netherlands
Austria
Ireland
Luxembourg
Rest of Europe
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Europe Van Rental Market Research FAQs

The Europe Van Rental Market size is expected to reach USD 7.19 billion in 2024 and grow at a CAGR of 5.60% to reach USD 9.44 billion by 2029.

In 2024, the Europe Van Rental Market size is expected to reach USD 7.19 billion.

Hertz Global Holdings Inc, Enterprise Holdings Inc., Lease Plan Corporation, Europcar Mobility Group and Fraikin SAS are the major companies operating in the Europe Van Rental Market.

In 2023, the Europe Van Rental Market size was estimated at USD 6.79 billion. The report covers the Europe Van Rental Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Van Rental Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Europe Van Rental Industry Report

Statistics for the 2024 Europe Van Rental market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Van Rental analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Van Rental in Europe Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)