Global Tourism Vehicle Rental Market Overview 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Tourism vehicle rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global Tourism vehicle rental market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global tourism vehicle rental market size reached US$ 53.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 75.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6% during 2023-2028.

Tourism vehicle rental is a specialized service that comprises the provision of rental cars, vans, and recreational vehicles (RVs) to tourists and travelers for short-term use. It is designed to cater to the needs of travelers seeking convenient and flexible transportation solutions during their journeys. It focuses on enhancing the travel experience by providing tourists with the freedom to explore destinations at their own pace and eliminating the constraints associated with public transportation schedules. As it allows travelers to conveniently access rental vehicles at airports, urban centers, and popular tourist hubs, the demand for tourism vehicle rental is increasing across the globe.

Global Tourism Vehicle Rental Market Trends and Drivers:

At present, the rising preference for personalized travel experiences among travelers represents one of the primary factors strengthening the market growth. Apart from this, the increasing adoption of online platforms to book rental vehicles, as they streamline the reservation process, is bolstering the growth of the market. Moreover, the rising focus on eco-friendly and fuel-efficient rental options is offering a lucrative growth opportunity to industry players. In line with this, the integration of advanced technologies, such as global positioning system (GPS) navigation and in-car connectivity, to improve the overall customer experience is supporting the growth of the market. Besides this, the rising preference for adventure travel among individuals is contributing to the growth of the market.

Global Tourism Vehicle Rental Market 2023-2028 Analysis and Segmentation:

Top Key Players covered in this report are: Alamo (Enterprise Holdings Inc), Auto Europe, Avis Budget Group Inc., Carzonrent India Pvt Ltd., EasyCar.com, Europcar Mobility Group, Europe Luxury Cars, Kemwel, Sixt SE, The Hertz Corporation and Zoomcar India Private Ltd

The report segmented the market on the basis of region, vehicle type, booking mode and end user.

Breakup by Vehicle Type:

• Economy
• Luxury/Premium

Breakup by Booking Mode:

• Online
• Offline

Breakup by End User:

• Self-Driven
• Rental Agencies

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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