Europe Car Rental Market Size & Outlook, 2023-2030
Europe car rental market, 2018-2030 (US$M)
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Europe car rental market highlights
- The Europe car rental market generated a revenue of USD 32,510.7 million in 2023.
- The market is expected to grow at a CAGR of 10.3% from 2024 to 2030.
- In terms of segment, economy cars was the largest revenue generating vehicle type in 2023.
- Executive cars is the most lucrative vehicle type segment registering the fastest growth during the forecast period.
- Country-wise, Germany is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 32,510.7 million |
| Market revenue in 2030 | USD 64,726.1 million |
| Growth rate | 10.3% (CAGR from 2023 to 2030) |
| Largest segment | Economy cars |
| Fastest growing segment | Executive 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, Europe region accounted for 24.5% 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 |
|---|
Europe 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 32.94% in 2023. Horizon Databook has segmented the Europe 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.
The increasing availability and affordability of Global Positioning System (GPS), Intelligent Transportation System (ITS), and cloud technologies, along with the growth in data availability, is resulting in rising demand for ondemand transportation through smartphone applications.
Additionally, recent developments in contactless payment options coupled with the growing number of Application Programming Interfaces (APIs) are expected to facilitate the growth of digital wallets.
Further, the companies in the marketplace are also adopting incentivization to expand their customer base. These attract customers with different needs and preferences, which contributes to the growth of the regional market.
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Target buyers of Europe 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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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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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe car rental market , including forecasts for subscribers. This continent databook contains high-level insights into Europe car rental market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe car rental market size, by country, 2018-2030 (US$M)
Europe Car Rental Market Outlook Share, 2023 & 2030 (US$M)
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