Global Car Rental Market Size & Outlook, 2023-2030
Global car rental market, 2018-2030 (US$M)
Related Markets
Global car rental market highlights
- The global car rental market generated a revenue of USD 132,480.6 million in 2023 and is expected to reach USD 278,032.9 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 11.2% by 2030.
- In terms of segment, economy cars accounted for a revenue of USD 43,339.2 million in 2023.
- SUVs is the most lucrative vehicle type segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 132,480.6 million |
| Market revenue in 2030 | USD 278,032.9 million |
| Growth rate | 11.2% (CAGR from 2023 to 2030) |
| Largest segment | Economy cars |
| Fastest growing segment | SUVs |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Luxury cars, Executive cars, Economy cars, SUVs, MUVs |
Other key industry trends
- In terms of revenue, the North America accounted for 36.9% of the global car rental market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 71,842.0 million by 2030.
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Car Rental Market Scope
Car Rental Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global car rental market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to car rental market will help companies and investors design strategic landscapes.
Economy cars was the largest segment with a revenue share of 32.71% in 2023. Horizon Databook has segmented the Global car rental market based on luxury cars, executive cars, economy cars, suvs, muvs covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Car Rental Vehicle Type Outlook (Revenue, USD Million, 2018-2030)
- Luxury cars
- Executive cars
- Economy cars
- SUVs
- MUVs
- Global Car Rental Application Outlook (Revenue, USD Million, 2018-2030)
- Local usage
- Airport transport
- Outstation
- Others
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Target buyers of Global car rental market databook
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Our clientele includes a mix of car rental market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of global-level data and insights on the Global car rental market , including forecasts for subscribers. This global databook contains high-level insights into Global car rental market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global car rental market size, by regions, 2018-2030 (US$M)
Top 10 countries: Car rental market size, 2023 (US$M)
Global car rental market share, by vehicle type, 2023 & 2030 (%, US$M)
Car rental market: Opportunity assessment by country
Global car rental market, by region, 2023 (US$M)
| Vehicle Type | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 40,379.9 | 43,573.2 | 33,930.9 | 38,624.4 | 43,638.5 | 48,951.6 | 54,537.3 | 60,364.9 | 66,400.1 | 72,605.2 | 78,940.6 | 85,364.4 | 91,834.3 | 9.4% |
| Europe | 25,843.1 | 28,085.2 | 22,029.2 | 25,262.6 | 28,758.8 | 32,510.8 | 36,508.1 | 40,737.5 | 45,182.9 | 49,825.9 | 54,645.8 | 59,620.4 | 64,726.1 | 10.3% |
| Asia Pacific | 24,959.4 | 27,974.0 | 22,617.7 | 26,723.6 | 31,329.9 | 36,458.7 | 42,128.2 | 48,352.6 | 55,142.0 | 62,502.0 | 70,433.9 | 78,934.8 | 87,997.4 | 13.4% |
| Latin America | 5,658.3 | 6,270.8 | 5,015.4 | 5,864.2 | 6,805.8 | 7,842.9 | 8,977.2 | 10,209.6 | 11,540.5 | 12,969.0 | 14,493.6 | 16,112.3 | 17,821.9 | 12.4% |
| MEA | 4,744.0 | 5,281.3 | 4,242.5 | 4,981.5 | 5,805.3 | 6,716.8 | 7,718.3 | 8,811.3 | 9,996.7 | 11,274.6 | 12,644.4 | 14,104.6 | 15,653.3 | 12.9% |
| Overall | 101,584.7 | 111,184.4 | 87,835.7 | 101,456.3 | 116,338.3 | 132,480.6 | 149,868.9 | 168,475.9 | 188,262.1 | 209,176.7 | 231,158.3 | 254,136.5 | 278,032.9 | 11.2% |
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