Market Size of Russia Car Rental Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Russia Car Rental Market Analysis
The Russia Car Rental Market was valued at USD 1.63 Billion in 2021 and is projected to grow to USD 2.41 Billion by 2027, registering a CAGR of 8% in terms of revenue during the forecast period (2022-2027).
The COVID-19 pandemic has restricted the growth of the market. Travel restrictions and strict lockdowns across the country have witnessed a major downfall in car rental revenue which is around 50% less as compared to 2019. The war between Russia and Ukraine also increase the cost of new cars which creates an opportunity for car rental services across the country.
over the medium term, The Russia-Ukraine war has halted OEM production and surge in vehicle prices across the country, which in turn is likely to enhance the demand for car rental services. The rise in the number of visitors across the country is likely to increase the car rental services across the country. Growing digitization across the country witnessing major growth for online car rental services.
Increased concern and awareness of lower emissions have primarily led to an increase in car rental options. Additionally, vehicle rental also provides the option of increased mobility, without the concern of paying the costs associated with car ownership.
