Asia Pacific Car Rental Market Size & Outlook, 2023-2030
Asia Pacific car rental market, 2018-2030 (US$M)
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Asia Pacific car rental market highlights
- The Asia Pacific car rental market generated a revenue of USD 36,458.7 million in 2023.
- The market is expected to grow at a CAGR of 13.4% from 2024 to 2030.
- In terms of segment, economy cars was the largest revenue generating vehicle type in 2023.
- Economy cars is the most lucrative vehicle type segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 36,458.7 million |
| Market revenue in 2030 | USD 87,997.4 million |
| Growth rate | 13.4% (CAGR from 2023 to 2030) |
| Largest segment | Economy cars |
| Fastest growing segment | Economy cars |
| 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 |
| Key market players worldwide | Avis Budget Group Inc, Carzonrent India Pvt. Ltd., Eco Rent A Car, Eurazeo SE, Localiza Rent A Car SA ADR, Hertz Global Holdings Inc Ordinary Shares (New), Sixt SE, AVR Van Rental, Enterprise Holdings |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 27.5% of the global car rental market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 87,997.4 million by 2030.
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Car Rental Market Scope
Car Rental Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific 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 33.37% in 2023. Horizon Databook has segmented the Asia Pacific 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.
Collaboration between car rental providers and public transit agencies addresses the last-mile problem, enhancing the accessibility and convenience of public transportation. This integration opens a vast market by providing a seamless end-to-end travel experience.
Younger generations are showing a preference for access over possessions. This shift in consumer behavior, along with a desire for cost-effective and flexible transportation, fuels the growth of car rental services in the region.
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Target buyers of Asia Pacific 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 continent-level data and insights on the Asia Pacific car rental market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific car rental market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific car rental market size, by country, 2018-2030 (US$M)
Asia Pacific Car Rental Market Outlook Share, 2023 & 2030 (US$M)
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