Latin America Car Rental Market Size & Outlook, 2023-2030

The car rental market in Latin America is expected to reach a projected revenue of US$ 17,821.9 million by 2030. A compound annual growth rate of 12.4% is expected of Latin America car rental market from 2024 to 2030.
Revenue, 2023 (US$M)
$7,842.9
Forecast, 2030 (US$M)
$17,821.9
CAGR, 2024 - 2030
12.4%
Report Coverage
Latin America

Latin America car rental market highlights

  • The Latin America car rental market generated a revenue of USD 7,842.9 million in 2023.
  • The market is expected to grow at a CAGR of 12.4% 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.


Latin America data book summary

Market revenue in 2023USD 7,842.9 million
Market revenue in 2030USD 17,821.9 million
Growth rate12.4% (CAGR from 2023 to 2030)
Largest segmentEconomy cars
Fastest growing segmentExecutive cars
Historical data covered2018 - 2022
Base year for estimation2023
Forecast period covered2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationLuxury cars, Executive cars, Economy cars, SUVs, MUVs
Key market players worldwideAvis 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, Latin America region accounted for 5.9% 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 Companies

Name Profile # Employees HQ Website

Latin America 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 47.88% in 2023. Horizon Databook has segmented the Latin America 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.


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Target buyers of Latin America car rental market databook

  • Our clientele includes a mix of car rental market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • 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 Latin America car rental market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America car rental market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Latin America car rental market

Latin America Car Rental Market Outlook Share, 2023 & 2030 (US$M)

Latin America car rental market

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