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Tourism Vehicle Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

September 2023 | 141 pages | ID: T832775B7F7CEN
IMARC Group

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Market Overview:

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 refers to the facility of temporarily hiring or renting an automobile for conducting travel and tourism activities. The service is commonly available through online and offline platforms for a duration of a few hours, days or weeks. Consumers can choose from economy, executive, luxury, semi-utility and multi-utility vehicles, as per their budget and requirement. The rental service is usually available with automobile insurance to safeguard the interests of the tourist and the rental service vendor. The vehicles are also integrated with various value-added services, such as Wi-Fi, entertainment devices and safety seats for children for enhanced comfort of the passengers. Tourism vehicle rental aids in minimizing the need for self-owned cars for recreational traveling and are more cost-effective and environment friendly.

Tourism Vehicle Rental Market Trends:
Significant growth in the travel and tourism industry across the globe is one of the key factors creating a positive outlook for the market. Tourism vehicle rental provides increased mobility and minimizes the concerns and costs associated with vehicle ownership. Moreover, the advent of web-based solutions and smartphones for renting tourism vehicles is providing a thrust to the market growth. These solutions enable the consumers to conveniently reserve rented vehicles online through third-party travel booking organizations. In line with this, the integration of dashcams, global positioning system (GPS) and other geo-tracking technologies aid in monitoring the location and operation of the rented vehicle and conducting predictive maintenance, thereby enhancing the efficiency of the vehicles. Additionally, the availability of periodically sanitized self-driven rented vehicles for safe traveling is also contributing to the growth of the market. Other factors, including the implementation of favorable government policies to encourage tourism activities in monuments, museums and parks, along with rising expenditure capacities of the consumers, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global tourism vehicle rental market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on 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

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report

1. How big is the global tourism vehicle rental market?
2. What is the expected growth rate of the global tourism vehicle rental market during 2023-2028?
3. What are the key factors driving the global tourism vehicle rental market?
4. What has been the impact of COVID-19 on the global tourism vehicle rental market?
5. What is the breakup of the global tourism vehicle rental market based on the vehicle type?
6. What is the breakup of the global tourism vehicle rental market based on the booking mode?
7. What is the breakup of the global tourism vehicle rental market based on the end user?
8. What are the key regions in the global tourism vehicle rental market?
9. Who are the key players/companies in the global tourism vehicle rental market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1Objectives of the Study
2.2Stakeholders
2.3Data Sources
  2.3.1Primary Sources
  2.3.2Secondary Sources
2.4Market Estimation
  2.4.1Bottom-Up Approach
  2.4.2Top-Down Approach
2.5Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1Overview
4.2Key Industry Trends

5 GLOBAL TOURISM VEHICLE RENTAL MARKET

5.1Market Overview
5.2Market Performance
5.3Impact of COVID-19
5.4Market Forecast

6 MARKET BREAKUP BY VEHICLE TYPE

6.1Economy
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2Luxury/Premium
  6.2.1 Market Trends
  6.2.2 Market Forecast

7 MARKET BREAKUP BY BOOKING MODE

7.1Online
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2Offline
  7.2.1 Market Trends
  7.2.2 Market Forecast

8 MARKET BREAKUP BY END USER

8.1Self-Driven
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2Rental Agencies
  8.2.1 Market Trends
  8.2.2 Market Forecast

9 MARKET BREAKUP BY REGION

9.1North America
  9.1.1 United States
    9.1.1.1 Market Trends
    9.1.1.2 Market Forecast
  9.1.2 Canada
    9.1.2.1 Market Trends
    9.1.2.2 Market Forecast
9.2Asia-Pacific
  9.2.1 China
    9.2.1.1 Market Trends
    9.2.1.2 Market Forecast
  9.2.2 Japan
    9.2.2.1 Market Trends
    9.2.2.2 Market Forecast
  9.2.3 India
    9.2.3.1 Market Trends
    9.2.3.2 Market Forecast
  9.2.4 South Korea
    9.2.4.1 Market Trends
    9.2.4.2 Market Forecast
  9.2.5 Australia
    9.2.5.1 Market Trends
    9.2.5.2 Market Forecast
  9.2.6 Indonesia
    9.2.6.1 Market Trends
    9.2.6.2 Market Forecast
  9.2.7 Others
    9.2.7.1 Market Trends
    9.2.7.2 Market Forecast
9.3Europe
  9.3.1 Germany
    9.3.1.1 Market Trends
    9.3.1.2 Market Forecast
  9.3.2 France
    9.3.2.1 Market Trends
    9.3.2.2 Market Forecast
  9.3.3 United Kingdom
    9.3.3.1 Market Trends
    9.3.3.2 Market Forecast
  9.3.4 Italy
    9.3.4.1 Market Trends
    9.3.4.2 Market Forecast
  9.3.5 Spain
    9.3.5.1 Market Trends
    9.3.5.2 Market Forecast
  9.3.6 Russia
    9.3.6.1 Market Trends
    9.3.6.2 Market Forecast
  9.3.7 Others
    9.3.7.1 Market Trends
    9.3.7.2 Market Forecast
9.4Latin America
  9.4.1 Brazil
    9.4.1.1 Market Trends
    9.4.1.2 Market Forecast
  9.4.2 Mexico
    9.4.2.1 Market Trends
    9.4.2.2 Market Forecast
  9.4.3 Others
    9.4.3.1 Market Trends
    9.4.3.2 Market Forecast
9.5Middle East and Africa
  9.5.1 Market Trends
  9.5.2 Market Breakup by Country
  9.5.3 Market Forecast

10 SWOT ANALYSIS

10.1Overview
10.2Strengths
10.3Weaknesses
10.4Opportunities
10.5Threats

11 VALUE CHAIN ANALYSIS

12 PORTERS FIVE FORCES ANALYSIS

12.1Overview
12.2Bargaining Power of Buyers
12.3Bargaining Power of Suppliers
12.4Degree of Competition
12.5Threat of New Entrants
12.6Threat of Substitutes

13 PRICE ANALYSIS

14 COMPETITIVE LANDSCAPE

14.1Market Structure
14.2Key Players
14.3Profiles of Key Players
  14.3.1Alamo (Enterprise Holdings Inc)
    14.3.1.1 Company Overview
    14.3.1.2 Product Portfolio
  14.3.2Auto Europe
    14.3.2.1 Company Overview
    14.3.2.2 Product Portfolio
  14.3.3Avis Budget Group Inc.
    14.3.3.1 Company Overview
    14.3.3.2 Product Portfolio
    14.3.3.3 Financials
    14.3.3.4 SWOT Analysis
  14.3.4Carzonrent India Pvt Ltd.
    14.3.4.1 Company Overview
    14.3.4.2 Product Portfolio
  14.3.5EasyCar.com
    14.3.5.1 Company Overview
    14.3.5.2 Product Portfolio
  14.3.6Europcar Mobility Group
    14.3.6.1 Company Overview
    14.3.6.2 Product Portfolio
    14.3.6.3 Financials
    14.3.6.4 SWOT Analysis
  14.3.7Europe Luxury Cars
    14.3.7.1 Company Overview
    14.3.7.2 Product Portfolio
  14.3.8Kemwel
    14.3.8.1 Company Overview
    14.3.8.2 Product Portfolio
  14.3.9Sixt SE
    14.3.9.1 Company Overview
    14.3.9.2 Product Portfolio
    14.3.9.3 Financials
  14.3.10The Hertz Corporation
    14.3.10.1 Company Overview
    14.3.10.2 Product Portfolio
  14.3.11Zoomcar India Private Ltd.
    14.3.11.1 Company Overview
    14.3.11.2 Product Portfolio

LIST OF TABLES

Table 1: Global: Tourism Vehicle Rental Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Tourism Vehicle Rental Market Forecast: Breakup by Vehicle Type (in Million US$), 2023-2028
Table 3: Global: Tourism Vehicle Rental Market Forecast: Breakup by Booking Mode (in Million US$), 2023-2028
Table 4: Global: Tourism Vehicle Rental Market Forecast: Breakup by End User (in Million US$), 2023-2028
Table 5: Global: Tourism Vehicle Rental Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Tourism Vehicle Rental Market: Competitive Structure
Table 7: Global: Tourism Vehicle Rental Market: Key Players

LIST OF FIGURES

Figure 1: Global: Tourism Vehicle Rental Market: Major Drivers and Challenges
Figure 2: Global: Tourism Vehicle Rental Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Tourism Vehicle Rental Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Tourism Vehicle Rental Market: Breakup by Vehicle Type (in %), 2022
Figure 5: Global: Tourism Vehicle Rental Market: Breakup by Booking Mode (in %), 2022
Figure 6: Global: Tourism Vehicle Rental Market: Breakup by End User (in %), 2022
Figure 7: Global: Tourism Vehicle Rental Market: Breakup by Region (in %), 2022
Figure 8: Global: Tourism Vehicle Rental (Economy) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Tourism Vehicle Rental (Economy) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Tourism Vehicle Rental (Luxury/Premium) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Tourism Vehicle Rental (Luxury/Premium) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Tourism Vehicle Rental (Online) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Tourism Vehicle Rental (Online) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Tourism Vehicle Rental (Offline) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Tourism Vehicle Rental (Offline) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Tourism Vehicle Rental (Self-Driven) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Tourism Vehicle Rental (Self-Driven) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Tourism Vehicle Rental (Rental Agencies) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Tourism Vehicle Rental (Rental Agencies) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: North America: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: North America: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: United States: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: United States: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Canada: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Canada: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Asia-Pacific: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Asia-Pacific: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: China: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: China: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Japan: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Japan: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: India: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: India: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: South Korea: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: South Korea: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Australia: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Australia: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Indonesia: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Indonesia: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Others: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Others: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Europe: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Europe: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Germany: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Germany: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: France: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: France: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: United Kingdom: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: United Kingdom: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Italy: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Italy: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Spain: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Spain: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Russia: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Russia: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Others: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Others: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Latin America: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Latin America: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Brazil: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Brazil: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Mexico: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Mexico: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Others: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Others: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Middle East and Africa: Tourism Vehicle Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Middle East and Africa: Tourism Vehicle Rental Market: Breakup by Country (in %), 2022
Figure 68: Middle East and Africa: Tourism Vehicle Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Global: Tourism Vehicle Rental Industry: SWOT Analysis
Figure 70: Global: Tourism Vehicle Rental Industry: Value Chain Analysis
Figure 71: Global: Tourism Vehicle Rental Industry: Porter's Five Forces Analysis


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