Global Car Rental Industry Outlook: 18.84% CAGR Growth Path Through 2030

Global Car Rental Market Overview: 2025-2030

Base Year: 2024

Historical Years:  2020–23

Forecast Years: 2025-2030

The Global Car Rental Market size is valued at around USD 108 Billion in 2024 and is projected to reach around USD 256 Billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 18.84% during the forecast period i.e., 2025-30.

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Global Car Rental Market Dynamics: 2025-2030

Global Car Rental Market Possible Restraint:

High Deposit Cost Associated with Car Rental to Hamper the Growth – Car rental companies often take a huge amount of deposit from the customers, which discourages some customers from renting cars. All rental car companies have different deposit charges. However, on average, in the US, around USD200 to USD500 is charged as a deposit fee by car rental companies. For instance, as of 2022, Hertz charges a minimum deposit fee of about USD200 for credit cards & USD500 if using a debit card, and similarly, Fox requires a deposit of between USD150 to USD400 when renting a vehicle with them.

Along with this, there have been many instances where customers lost deposit money due to factors like failure to return the car on time, additional charges, failure to pick up a car on time, etc. For instance, in 2023, in the US, a 54 years old individual lost his rental car reservation & around USD249 advanced fee to hold the vehicle due to delayed flight arrival at Orlando Airport. Hence, these factors are boosting the popularity of ride-hailing services as an alternative to traditional car renting services, therefore negatively affecting the market growth.

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Global Car Rental Market (2025-30): Segmentation Outlook

The market report has segmented the market into the following categories:

By Booking Mode

-Offline

-Online

By Application

-Leisure

-Business

By Vehicle Type

-Luxury

-Economy Cars

-Executive Cars

-Sports Utility Vehicles (SUVs)

-Multi Utility Vehicles (MUVs)

Economy cars have registered a significant demand due to their compact size & cost-effectiveness. Customers usually prefer these cars for airport & intracity rides, especially in Europe & Asia-Pacific.

By Rental Category

-Local

-Airport

-Outstation

By Driver Type

-Self-Driving

-Chauffeur

By Rental Duration

-Short Term

-Long Term

By Region

-North America

-South America

-Europe

-The Middle East & Africa

-Asia-Pacific.

North America is home to three major economies, the US, Mexico, and Canada, which have a huge number of business establishments, 

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Top Companies Operating in the Global Car Rental Market:

-Avis Budget Group

-Sixt SE

-Enterprise Holdings (Alamo)

-Hertz Corp.

-Europcar

-Localiza

-Carzonrent India Pvt. Ltd. (CIPL)

-ZoomCar, Inc.

-Dollar Rent a Car

-Green Motion

-Buchbinder

-Others.

Industry Recent Developments 

• 2022: Hertz, along with private equity firm, Certares, participated in UFODrive’s Series A funding round in February 2022, which raised around USD19 million. With this investment, Hertz aims to leverage UFODrive’s digital rental & fleet management technology to manage its electric car fleet on a global scale.

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