Car Rental and Leasing Services Market Size & Supplier Analysis – Key Players Including Enterprise Holdings and Share Analysis, 2023-2030

The global market for car rental and leasing services is anticipated to reach a market size of US$ 312.1 billion by 2030, with a CAGR of 6.5% according to RationalStat

| Source: Rationalstat LLC Rationalstat LLC

Wilmington, Delaware, Sept. 08, 2023 (GLOBE NEWSWIRE) -- Global Car Rental and Leasing Services Market is valued at US$ 189 billion in 2023 and is expected to grow at a significant CAGR of about 6.5% during the forecast period of 2023-2030, according to the published market report by RationalStat

Market Definition, Market Scope, and Report Overview

Car rental and leasing services are businesses that rent or lease vehicles to consumers for a certain length of time in exchange for a fee. Individuals and organizations can use automobiles without the long-term commitment of ownership through these services.

The demand for transportation solutions remains high, particularly in urban and suburban settings. People need vehicles for commuting, travel, and other personal and professional reasons. Car rental and leasing services provide convenient and flexible alternatives to car ownership without long-term commitment.

  • According to a deep-dive market assessment by RationalStat, the global car rental and leasing services market has been analyzed on the basis of market segments, including on type, use, propulsion and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
  • Market intelligence for the global car rental and leasing services market covers market sizes on the basis of market value (US$/EUR Million) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
  • In addition, the long-term sector and products/services 10-year outlook and its implications on the global car rental and leasing services market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Car Rental and Leasing Services Market: Segmental and Market Share Analysis

  • On the basis of type, the leasing type segment is predicted to dominate the global market for car rental and leasing services. Consumers are becoming more aware of the used automobile industry, and new markets are emerging.
  • On the basis of propulsion, in 2022, the ICE segment held a sizable market share. ICEs are widely accessible in a variety of vehicle types, ranging from economical cars to luxury and commercial vehicles.


Report Synopsis

Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 189.0 billion
Market Size Forecast US$ 312.1 billion
Growth Rate 6.5%
Key Market Drivers
  • Rising Popularity of Electric Vehicles
  • Growing Smart Cities Initiatives and Urbanization
 
Companies Profiled
  • 8 Alamo
  • Auto Europe
  • Avis
  • Budget Rent a Car
  • Carhire
  • Advantage Rent a Car
  • E-Z Rent-A-Car Group Holding
  • Easy Car
  • Zoom


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Competition Analysis and Market Structure

These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global car rental and leasing services market include,

  • In March 2023, Woodford Group and Enterprise Holdings formed a collaboration. The corporation announced the establishment of its services in South Africa as part of the cooperation. Short-term automobile rental and long-term subscriptions with chauffeured drivers and point-to-point services are available from the company.
  • In January 2023, Hertz signed a public-private cooperation with Denver, Colorado's regulatory agency to speed the transition of Evs in the rental industry. The corporation will transition to supplying rental electric cars as a contribution to sustainability.

Some of the prominent players and suppliers operating and contributing significantly to the global car rental and leasing services market growth include 8 Alamo, Auto Europe, Avis, Budget Rent a Car, Carhire, Advantage Rent A Car, E-Z Rent-A-Car Group Holding, Easy Car, and Zoom, among others.

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RationalStat has segmented the global car rental and leasing services market based on type, use, propulsion and region

  • Global Car Rental and Leasing Services Market Value (US$ Million), and Market Share (2019-2030) Analysis by Type
    • Rental
    • Leasing
  • Global Car Rental and Leasing Services Market Value (US$ Million), and Market Share (2019-2030) Analysis by Use
    • Personal
    • Commercial
  • Global Car Rental and Leasing Services Market Value (US$ Million), and Market Share (2019-2030) Analysis by Propulsion 
    • ICE
    • Electric
  • Global Car Rental and Leasing Services Market Value (US$ Million), and Market Share (2019-2030) Analysis by Region
    • North America Car Rental and Leasing Services Market
      • US
      • Canada
    • Latin America Car Rental and Leasing Services Market
      • Brazil
      • Mexico
      • Rest of Latin America
    • Western Europe Car Rental and Leasing Services Market
      • Germany
      • UK
      • France
      • Spain
      • Italy
      • Benelux
      • Nordic
      • Rest of Western Europe
    • Eastern Europe Car Rental and Leasing Services Market
      • Russia
      • Poland
      • Hungary
      • Other CIS Countries
      • Rest of Eastern Europe
    • Asia Pacific Car Rental and Leasing Services Market
      • China
      • Japan
      • India
      • South Korea
      • Australia
      • ASEAN
        • Indonesia
        • Thailand
        • Philippines
        • Vietnam
        • Malaysia
        • Rest of ASEAN
      • Rest of Asia Pacific
    • Middle East & Africa Car Rental and Leasing Services Market
      • GCC
        • Saudi Arabia (KSA)
        • United Arab Emirates (UAE)
        • Rest of the GCC
      • South Africa
      • Nigeria
      • Turkey
      • Rest of the Middle East & Africa

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Key Questions Answered in the Car Rental and Leasing Services Report:

  • What will be the market value of the global car rental and leasing services market by 2030?
  • What is the market size of the global car rental and leasing services market?
  • What are the market drivers of the global car rental and leasing services market?
  • What are the key trends in the global car rental and leasing services market?
  • Which is the leading region in the global car rental and leasing services market?
  • What are the major companies operating in the global car rental and leasing services market?
  • What are the market shares by key segments in the global car rental and leasing services market?  

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Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

  • Defining the problem by understanding the type of market and data required by the client.
  • Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
  • Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
  • Evaluating and analyzing the data by referring to data sources utilized and leveraged.
  • Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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