India Car Rental Market Size & Outlook, 2025-2030
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India car rental market highlights
- The India car rental market generated a revenue of USD 5,845.7 million in 2024 and is expected to reach USD 13,023.6 million by 2030.
- The India market is expected to grow at a CAGR of 13.9% from 2025 to 2030.
- In terms of segment, economy cars was the largest revenue generating vehicle type in 2024.
- Luxury cars is the most lucrative vehicle type segment registering the fastest growth during the forecast period.
Car rental market data book summary
| Market revenue in 2024 | USD 5,845.7 million |
| Market revenue in 2030 | USD 13,023.6 million |
| Growth rate | 13.9% (CAGR from 2025 to 2030) |
| Largest segment | Economy cars |
| Fastest growing segment | Luxury cars |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 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, India accounted for 3.9% of the global car rental market in 2024.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China car rental market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 13,023.6 million by 2030.
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Car Rental Market Scope
Car Rental Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Enterprise Holdings | View profile | 10001+ | St Louis, Missouri, United States, North America | http://www.enterpriseholdings.com |
| AVR Van Rental | View profile | 51-100 | Hawthorne, California, United States, North America | http://www.airportvanrental.com |
| Sixt SE | View profile | 8735 | Zugspitzstrasse 1, Pullach, BY, Germany, 82049 | https://www.sixt.com |
| Hertz Global Holdings Inc Ordinary Shares (New) | View profile | 27000 | 8501 Williams Road, Estero, FL, United States, 33928 | https://www.hertz.com |
| Localiza Rent A Car SA ADR | View profile | 21113 | Avenida Bernardo Vasconcelo, No 377 - Cachoeirinha, Belo Horizonte, MG, Brazil, 31150-900 | https://www.localiza.com |
| Eurazeo SE | View profile | - | - | - |
| Eco Rent A Car | View profile | 51-100 | New Delhi, Delhi, India, Asia | http://www.ecorentacar.com/ |
| Carzonrent India Pvt. Ltd. | View profile | 251-500 | New Delhi, Delhi, India, Asia | http://www.carzonrent.com |
| Avis Budget Group Inc | View profile | 31000 | 379 Interpace Parkway, Parsippany, NJ, United States, 07054 | https://www.avisbudgetgroup.com |
India 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 44.8% in 2024. Horizon Databook has segmented the India 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.
India has minimal federal regulation, with states establishing policies for ridesharing. Karnataka’s aggregator guidelines require licensees to ensure minimum driver standards and safety features. Delhi caps surge pricing and sets safety guidelines for TNCs under the City Taxi Scheme.
The Motor Vehicles Act provides basic federal standards for operating electric vehicles. Cities such as Bangalore and New Delhi have launched pilot programs to regulate fleets and parking for electric vehicles.
Several states have drafted EV policies to encourage car rental services. There is no overarching federal regulation for car sharing in India. However, the National Urban Transport Policy Framework promotes car sharing and parking quotas to incentivize car rental.
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Target buyers of India 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 country-level data and insights on the India car rental market , including forecasts for subscribers. This country databook contains high-level insights into India car rental market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India car rental market size, by vehicle type, 2018-2030 (US$M)
India Car Rental Market Outlook Share, 2024 & 2030 (US$M)
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