Automobile Rental and Leasing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The global automobile rental and leasing market is segmented by Type (Passenger Car Rental , Passenger Car Leasing, Truck, Utility Trailer, Recreational Vehicle Rental and Leasing), by Mode (Offline, Online), by Lease (Open, Close), by End User (Individual, Corporate), and by Region (North America, Europe, APAC, South America, Middle East and Africa). The report offers market size and values in (USD billion) during the forecast years for the above segments.

Automobile Rental & Leasing Market Size

Automobile Rental And Leasing Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR > 9.00 %
Market Concentration Medium

Major Players

Automobile Rental And Leasing Market Major Players

*Disclaimer: Major Players sorted in no particular order

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

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Automotive Equipment

Automobile Rental & Leasing Market Analysis

In the upcoming 5 years, the market for renting and leasing cars is expected to register a CAGR of more than 9% per year. The Automotive Rental and Leasing Market is made up of organizations, sole traders, and partnerships that rent or lease cars, trucks, vans, utility trailers, and recreational vehicles (RVs) without drivers. 

The worldwide automotive rental and leasing business is growing because more people want cars that can adapt to their needs, consumers are becoming more aware, the used car business is growing, and new markets are opening up.

The rising popularity of electric vehicles, e-commerce, investments in big data and IoT, and the use of blockchain in the rental and leasing of cars all contributed to the growth.Customer service and honesty, the growing popularity of on-demand taxi services, and the COVID-19 outbreak are all things that slowed the growth of the car rental and leasing market in the future.

During the COVID-19 pandemic, it was expected that the global market would grow slowly. This was because the tourism industry was hit hard, which led to huge revenue losses, massive shutdowns, and people not going out. The growth was mostly because companies were reorganizing their operations and getting over the effects of COVID-19, which led to measures like social distance, working from home, and shutting down commercial activities, which caused operational problems.

Automobile Rental & Leasing Market Trends

Growing Popularity Of Electric Vehicles

During the forecast period, the growing sales of electric vehicles are expected to drive the car rental and leasing market. Leasing is being used more and more as a key way to get people to buy electric cars, especially in developed markets. Leasing, compared to other ways to buy a car, makes it much easier for people to worry less about how much an electric car will cost and how quickly technology will become outdated. Increasing demand for mobility, a rise in consumer awareness, and the growth of the used car industry are key factors that have driven growth in the global automobile leasing market over the last few years. Increased adoption of electric cars.

Automobile Rental And Leasing Market: Global Electric Car Sales (2015-2021), in Million

Growing Smart Cities Initiatives and Urbanization to Drive Market

This market is expected to grow because of things like more people living in cities and more smart-city projects around the world. Smart cities need a transportation system that gets people where they need to go quickly and efficiently. As the World Health Organization (WHO) reports, around 50% of the world's population lives in urban areas, and this share is expected to rise to 60% by 2025. Many people are getting more and more used to driving cars, which makes traffic and parking problems worse in cities. This has led to the rapid development of the public transportation system.

Automobile Rental And Leasing Market: Percentage of World’s Population Will Live in Urban Areas ( 1950, 2008, 2022)

Automobile Rental & Leasing Industry Overview

Technological advancement is the key driver of the automotive equipment rental and leasing market. Car leasing companies are increasingly utilizing digital technologies like the Internet of Things (IoT) and big data to enhance customer service, lower operational costs, and better manage their fleet. Companies are launching their value-added services in the international market and strengthening their footprint worldwide. The major players are Aspark Holidays Pvt. Ltd., Avis Budget Group, BlueLine Rental, Enterprise Holdings, Europcar Mobility Group SA, Expedia Group Inc., Green Motion International, LeasePlan, Mercedes-Benz Group AG, and The Hertz Corporation.

Automobile Rental & Leasing Market Leaders

  1. Avis Budget

  2. Enterprise Holdings

  3. The Hertz Corporation

  4. BlueLine Rental

  5. LeasePlan

*Disclaimer: Major Players sorted in no particular order

Automobile Rental And Leasing Market Concentration
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Automobile Rental & Leasing Market News

  • January 2022: Coca-Cola Philippines (CCBPI) established a partnership with ORIX Rental Corporation to supply fleet solutions and delivered 300 new vehicles for Coca-Cola's salesforce.
  • January 2022: Arval partnered with Ridecell to deploy next-generation shared mobility solutions offering seamless global mobility coverage.

Automobile Rental & Leasing Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS AND INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitutes

      5. 4.4.5 Intensity of Competitive Rivalry

    5. 4.5 Insights on Latest Trends and Technological Innovations in the Industry

    6. 4.6 Impact of COVID-19 on the Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Passenger Car Rental

      2. 5.1.2 Passenger Car Leasing

      3. 5.1.3 Truck

      4. 5.1.4 Utility Trailer

      5. 5.1.5 Recreational Vehicle Rental and Leasing

    2. 5.2 By Mode

      1. 5.2.1 Offline

      2. 5.2.2 Online

    3. 5.3 By Lease

      1. 5.3.1 Open

      2. 5.3.2 Close

    4. 5.4 By End-User

      1. 5.4.1 Individual

      2. 5.4.2 Corporate

    5. 5.5 By Geography

      1. 5.5.1 North America

        1. 5.5.1.1 United States

        2. 5.5.1.2 Canada

        3. 5.5.1.3 Mexico

      2. 5.5.2 Europe

        1. 5.5.2.1 United Kingdom

        2. 5.5.2.2 Germany

        3. 5.5.2.3 France

        4. 5.5.2.4 Spain

        5. 5.5.2.5 Italy

      3. 5.5.3 Asia-Pacific

        1. 5.5.3.1 China

        2. 5.5.3.2 India

        3. 5.5.3.3 Japan

        4. 5.5.3.4 Australia

      4. 5.5.4 South America

        1. 5.5.4.1 Brazil

        2. 5.5.4.2 Argentina

      5. 5.5.5 Middle East and Africa

      6. 5.5.6 Saudi Arabia

      7. 5.5.7 South Africa

      8. 5.5.8 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Concentration Overview

    2. 6.2 Company Profiles

      1. 6.2.1 Aspark Holidays Pvt. Ltd.

      2. 6.2.2 Avis Budget

      3. 6.2.3 BlueLine Rental

      4. 6.2.4 Enterprise Holdings

      5. 6.2.5 Europcar Mobility Group SA

      6. 6.2.6 Expedia Group Inc

      7. 6.2.7 Green Motion International

      8. 6.2.8 LeasePlan

      9. 6.2.9 Mercedes Benz Group AG

      10. 6.2.10 The Hertz Corporation

    3. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. DISCLAIMER AND ABOUT US

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Automobile Rental & Leasing Industry Segmentation

The Automotive Rental and Leasing Market is made up of companies that rent or lease automotive equipment but don't have drivers or utility trailers. The goal of this report is to give a thorough look at the market for renting and leasing cars. The report focuses on how the market works, new trends in the segments, and information about the different types of products and applications. Also, it analyzes the key players, competitive landscape, and regions. The global automobile rental and leasing market is segmented by type (passenger car rental, passenger car leasing, truck rental, trailer rental, and recreational vehicle rental and leasing), by mode (offline, online), by lease (open, closed), by end user (individual, corporate), and by region (North America, Europe, APAC, South America, the Middle East, and Africa). The report offers market size and values in billions of dollars during the forecast years for the above segments.

By Type
Passenger Car Rental
Passenger Car Leasing
Truck
Utility Trailer
Recreational Vehicle Rental and Leasing
By Mode
Offline
Online
By Lease
Open
Close
By End-User
Individual
Corporate
By Geography
North America
United States
Canada
Mexico
Europe
United Kingdom
Germany
France
Spain
Italy
Asia-Pacific
China
India
Japan
Australia
South America
Brazil
Argentina
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Automobile Rental & Leasing Market Research FAQs

The Automobile Rental and Leasing Market is projected to register a CAGR of greater than 9% during the forecast period (2024-2029)

Avis Budget, Enterprise Holdings, The Hertz Corporation, BlueLine Rental and LeasePlan are the major companies operating in the Automobile Rental and Leasing Market.

The report covers the Automobile Rental and Leasing Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automobile Rental and Leasing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Automobile Rental and Leasing Industry Report

Statistics for the 2024 Automobile Rental and Leasing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automobile Rental and Leasing 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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Automobile Rental and Leasing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)