Car Rental Market Size, Share, and Trends 2024 to 2034

The global car rental market size is estimated at USD 152.99 billion in 2025 and is predicted to reach around USD 324.14 billion by 2034, accelerating at a CAGR of 8.70% from 2025 to 2034. The North America car rental market size surpassed USD 76.00 billion in 2024 and is expanding at a CAGR of 8.80% during the forecast period. The market sizing and forecasts are revenue-based (USD Million/Billion), with 2024 as the base year.

  • Last Updated : May 2025
  • Report Code : 1452
  • Category : Automotive

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis 

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Car Rental Market 

5.1. COVID-19 Landscape: Car Rental Industry Impact

5.2. COVID 19 - Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Car Rental Market, By Vehicle

8.1. Car Rental Market, by Vehicle Type

8.1.1. Luxury Cars

8.1.1.1. Market Revenue and Forecast

8.1.2. Economy Cars

8.1.2.1. Market Revenue and Forecast

8.1.3. SUVs

8.1.3.1. Market Revenue and Forecast

8.1.4. Executive Cars

8.1.4.1. Market Revenue and Forecast

8.1.5. MUVs

8.1.5.1. Market Revenue and Forecast

Chapter 9. Global Car Rental Market, By Application

9.1. Car Rental Market, by Application

9.1.1. Local Usage

9.1.1.1. Market Revenue and Forecast

9.1.2. Outstation

9.1.2.1. Market Revenue and Forecast

9.1.3. Airport Transport

9.1.3.1. Market Revenue and Forecast

9.1.4. Others

9.1.4.1. Market Revenue and Forecast

Chapter 10. Global Car Rental Market, By Rental Duration 

10.1. Car Rental Market, by Rental Duration

10.1.1. Long-term

10.1.1.1. Market Revenue and Forecast

10.1.2. Short-term

10.1.2.1. Market Revenue and Forecast

Chapter 11. Global Car Rental Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Forecast, by Vehicle

11.1.2. Market Revenue and Forecast, by Application

11.1.3. Market Revenue and Forecast, by Rental Duration

11.1.4. U.S.

11.1.4.1. Market Revenue and Forecast, by Vehicle

11.1.4.2. Market Revenue and Forecast, by Application

11.1.4.3. Market Revenue and Forecast, by Rental Duration

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Forecast, by Vehicle

11.1.5.2. Market Revenue and Forecast, by Application

11.1.5.3. Market Revenue and Forecast, by Rental Duration

11.2. Europe

11.2.1. Market Revenue and Forecast, by Vehicle

11.2.2. Market Revenue and Forecast, by Application

11.2.3. Market Revenue and Forecast, by Rental Duration

11.2.4. UK

11.2.4.1. Market Revenue and Forecast, by Vehicle

11.2.4.2. Market Revenue and Forecast, by Application

11.2.4.3. Market Revenue and Forecast, by Rental Duration

11.2.5. Germany

11.2.5.1. Market Revenue and Forecast, by Vehicle

11.2.5.2. Market Revenue and Forecast, by Application

11.2.5.3. Market Revenue and Forecast, by Rental Duration

11.2.6. France

11.2.6.1. Market Revenue and Forecast, by Vehicle

11.2.6.2. Market Revenue and Forecast, by Application

11.2.6.3. Market Revenue and Forecast, by Rental Duration

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Forecast, by Vehicle

11.2.7.2. Market Revenue and Forecast, by Application

11.2.7.3. Market Revenue and Forecast, by Rental Duration

11.3. APAC

11.3.1. Market Revenue and Forecast, by Vehicle

11.3.2. Market Revenue and Forecast, by Application

11.3.3. Market Revenue and Forecast, by Rental Duration

11.3.4. India

11.3.4.1. Market Revenue and Forecast, by Vehicle

11.3.4.2. Market Revenue and Forecast, by Application

11.3.4.3. Market Revenue and Forecast, by Rental Duration

11.3.5. China

11.3.5.1. Market Revenue and Forecast, by Vehicle

11.3.5.2. Market Revenue and Forecast, by Application

11.3.5.3. Market Revenue and Forecast, by Rental Duration

11.3.6. Japan

11.3.6.1. Market Revenue and Forecast, by Vehicle

11.3.6.2. Market Revenue and Forecast, by Application

11.3.6.3. Market Revenue and Forecast, by Rental Duration

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Forecast, by Vehicle

11.3.7.2. Market Revenue and Forecast, by Application

11.3.7.3. Market Revenue and Forecast, by Rental Duration

11.4. MEA

11.4.1. Market Revenue and Forecast, by Vehicle

11.4.2. Market Revenue and Forecast, by Application

11.4.3. Market Revenue and Forecast, by Rental Duration

11.4.4. GCC

11.4.4.1. Market Revenue and Forecast, by Vehicle

11.4.4.2. Market Revenue and Forecast, by Application

11.4.4.3. Market Revenue and Forecast, by Rental Duration

11.4.5. North Africa

11.4.5.1. Market Revenue and Forecast, by Vehicle

11.4.5.2. Market Revenue and Forecast, by Application

11.4.5.3. Market Revenue and Forecast, by Rental Duration

11.4.6. South Africa

11.4.6.1. Market Revenue and Forecast, by Vehicle

11.4.6.2. Market Revenue and Forecast, by Application

11.4.6.3. Market Revenue and Forecast, by Rental Duration

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Forecast, by Vehicle

11.4.7.2. Market Revenue and Forecast, by Application

11.4.7.3. Market Revenue and Forecast, by Rental Duration

11.5. Latin America

11.5.1. Market Revenue and Forecast, by Vehicle

11.5.2. Market Revenue and Forecast, by Application

11.5.3. Market Revenue and Forecast, by Rental Duration

11.5.4. Brazil

11.5.4.1. Market Revenue and Forecast, by Vehicle

11.5.4.2. Market Revenue and Forecast, by Application

11.5.4.3. Market Revenue and Forecast, by Rental Duration

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Forecast, by Vehicle

11.5.5.2. Market Revenue and Forecast, by Application

11.5.5.3. Market Revenue and Forecast, by Rental Duration

Chapter 12. Company Profiles

12.1. Avis Budget Group

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Europecar

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. Enterprise Holdings Inc.

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. The Hertz Corporation

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Toyota Rent-a-Car

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. Sixt SE

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Alamo Rent-a-Car LLC

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. Carzonrent India Pvt Ltd

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. Localiza

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. ANI Technologies Pvt. Ltd

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

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Frequently Asked Questions

The global car rental market size was valued at USD 140.74 billion in 2024 and is predicted to hit over USD 324.14 billion by 2034.

The global car rental market is expected to grow at a CAGR of 8.70% from 2025 to 2034.

The major players operating in the car rental market are Avis Budget Group, Europecar, Enterprise Holdings Inc., The Hertz Corporation, Toyota Rent-a-Car, Sixt SE, Alamo Rent-a-Car LLC, Carzonrent India Pvt Ltd, Localiza, ANI Technologies Pvt. Ltd.

The increase in technological advancements is driving the growth of car rental market. The growing popularity of online car rental booking applications is also fueling the market growth.

The North America region held 54% revenue share in 2024 and will lead in near future.

The Asia-Pacific is expected to grow at a CAGR of 8.10% during the forecast period.

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