Car Rental Market Size & Share, Growth Analysis Forecasts, 2026

Industry Insights

[174+ Pages Report] According to the report published by Facts and Factors, the global car rental market size was valued around USD 60 billion in 2019 and is expected to grow to around USD 111.6 billion by 2026 with a compound annual growth rate (CAGR) of roughly 7% between 2020 and 2026. The report analyzes the global car rental market drivers, challenges, and the impact they have on the demands during the forecast period. In addition, the report explores emerging opportunities in the car rental market.

This specialized and expertise oriented industry research report scrutinizes the technical and commercial business outlook of the Car Rental industry. The report analyzes and declares the historical and current trends analysis of the Car Rental industry and subsequently recommends the projected trends anticipated to be observed in the global Car Rental market during the upcoming years.

The car rental market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire Car Rental market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of value (USD Billion) from FY 2016 – 2026.

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the Car Rental industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the Car Rental industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the global Car Rental market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the Car Rental industry. The global Car Rental market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the Car Rental sector. Key strategic developments in the global Car Rental market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the global Car Rental market are appropriately highlighted in the report.

Car rental has turned into a popular activity across the globe owing to the easy booking and availability of cars for rental purposes. The demand for hassle-free money transfer, easy booking, live tracking, and high safety helps escalate the demand for the car rental market. In addition to this, the rising use of smartphones and internet users is estimated to boost the global Car Rental market.

The cost-effectiveness and demand for affordable rides among the mass customers are anticipated to boost the growth of the global Car Rental market during the forecast period. Additionally, the rising number of business and leisure trips has surged the use of luxury and premium car rental services. The sharing and pooling concept is likely to attract more customers among the less expensive interested customers and thereby, propel the growth of the global Car Rental market. Furthermore, the growing environment and health concerns have urged customers to adopt eco-friendly services or products. The major goal is to reduce pollution by reducing cars on the road. The high disposable income, improving road infrastructure in emerging or developed economies has increased the number of leisure and business trips which, in turn, will fuel the market growth.

The global Car Rental market research report delivers an acute valuation and taxonomy of the Car Rental industry by practically splitting the market on the basis of different car types, booking types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the Car Rental industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the Car Rental industry is provided for the leading economies of the world.

The global Car Rental market is segmented based on Car Type, Booking Type, and Application. On the basis of car type segmentation, the global Car Rental market is classified into the Luxury car, Economical Car, SUV, MUV, Executive Car. By booking type, the market is segregated into Online Access ad Offline Access. Based on the application, the market for car rental is categorized into Airport Transportation, Outstation, Local Usage, and Others.

Report Scope

Competitive Landscape

Some of the essential players operating in the CAR RENTAL market, but not restricted to include :

•  Europcar
•  The Hertz Corporation
•  Enterprise Rent-A-Car
•  Sixt SE
•  Avis Budget Group.

The taxonomy of the Car Rental industry by its scope and segmentation is as follows:

Car Type Segmentation Analysis

• Luxury Car
• Executive Car
• Economical Car
• Sports Utility Vehicle (SUV)
• Multi Utility Vehicle (MUV)

Booking Type Segmentation Analysis

• Offline Access
• Online Access

Application Segmentation Analysis

• Airport Transport
• Local Usage
• Outstation
• Others

Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa