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Tourism Vehicle Rental Market Share & Growth | Forecast 2031
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Tourism Vehicle Rental Market Share & Growth | Forecast 2031

Segments - Tourism Vehicle Rental Market by Booking Modes (Online and Offline), Vehicle Types (Economy and Luxury/Premium), and End-users (Rental Agencies and Self-driven), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031.

https://growthmarketreports.com/akash
Author : Akash Vedpathak
https://growthmarketreports.com/Vaibhav
Fact-checked by : V. Chandola
https://growthmarketreports.com/Shruti
Editor : Shruti Bhat

Upcoming | Report ID :AL-2473 | 4.6 Rating | 56 Reviews | 182 Pages | Format : PDF Excel PPT

Report Description


The global tourism vehicle rental market size was valued at USD 67.59 Billion in 2022 and is projected to surpass USD 138.53 Billion by 2031, expanding at a CAGR of 8.3% during the forecast period, 2023–2031. The growth of the market is attributed to growing urbanization and government incentives that attracts new entrants to purchase cars.

A tourism rental vehicle is a self-propelled vehicle capable of providing temporary housing or used by tourists to travel on a rental basis. Automobile rentals, companies provide extra services such as GPS navigation systems, insurance, entertainment systems, portable Wi-Fi, and child safety seats.

Tourism Vehicle Rental Market Outlook

The tourist sector benefits from the socio-economic progress of countries across the world. The rental vehicle sector is growing in parallel with the tourism industry. Vehicles are often rented for a short period of time, extending from a few hours to a few weeks.

The COVID-19 pandemic hampered the expansion of the market owing to travel restrictions to control the spread of the pandemic, affecting every industry and economy globally.

  • The provision of agencies that allow users to return a car to a different place is expanding the demand for rental cars, driving the market growth.

  • Government's investments on tourist places and increasing consumer disposable income are expected to drive the market growth.

  • Changing lifestyle is acting as a major factor spurring the market growth.

  • High cost of well-known tourism vehicle rental businesses can create challenges for the market growth.

  • Increasing penetration in suburbs, especially in developing nations can create lucrative opportunities during the forecast period.

Scope of Tourism Vehicle Rental Market Report

The report on the global tourism vehicle rental market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Tourism Vehicle Rental Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Booking Modes (Online and Offline), Vehicle Types (Economy and Luxury/Premium), and End-users (Rental Agencies and Self-Driven)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Enterprise; Six SE; The Hertz Corporation; Europcar; and Avis

Tourism Vehicle Rental Market Segment Insights

Booking mode segment is expected to grow at a rapid pace

Based on booking modes, the market is bifurcated into online and offline. The online segment is expected to grow at a rapid pace during the forecast period owing to rapid digitization. However, the offline segment is anticipated to hold a considerable share of the market, especially in suburbs. Moreover, rising disposable income is expected to boost the segment growth.

Economy segment is projected to expand at a considerable CAGR

On the basis of the vehicle types, the market is further classified as economy and luxury/premium. The economy segment is projected to expand at a considerable CAGR during the forecast period. The presence of huge middle-class population group in several countries is driving the segment market growth.

Tourism Vehicle Rental Market Vehicle Type

Self-driven segment to grow at a healthy rate

In terms of end-users, the market is divided into rental agencies and self-driven. The rental agencies segment is anticipated to account for a major market share during the forecast period owing to increasing preference for convenience.

Africa is anticipated to constitute a key market share

In terms of regions, the tourism vehicle rental market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in the Middle East & Africa is expected to constitute a key share of the market during the projected period. The government is taking effort to increase investment on tourist infrastructure development, driving the market in region. On the other hand, Europe is anticipated to expand at a healthy rate during the forecast period owing to changing lifestyle.

Tourism Vehicle Rental Market Region

Segments

The Tourism Vehicle Rental market has been segmented on the basis of

Booking Modes

  • Online
  • Offline

Vehicle Types

  • Economy
  • Luxury/Premium
  • Others

End-users

  • Rental Agencies
  • Self-driven

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Enterprise
  • Six SE
  • The Hertz Corporation
  • Europcar
  • Avis

Competitive Landscape

Key players competing in the global tourism vehicle rental market such as enterprise; Six SE; The Hertz Corporation; Europcar; Avis, and others.

Companies are expanding their presence their online presence to leverage their market presence.

Tourism Vehicle Rental Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Tourism Vehicle Rental Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Tourism Vehicle Rental Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Tourism Vehicle Rental Market - Supply Chain
  4.5. Global Tourism Vehicle Rental Market Forecast
     4.5.1. Tourism Vehicle Rental Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Tourism Vehicle Rental Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Tourism Vehicle Rental Market Absolute $ Opportunity
5. Global Tourism Vehicle Rental Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Tourism Vehicle Rental Market Size and Volume Forecast by Types
     5.3.1. Economy
     5.3.2. Luxury/Premium
     5.3.3. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Tourism Vehicle Rental Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Tourism Vehicle Rental Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Tourism Vehicle Rental Demand Share Forecast, 2019-2026
7. North America Tourism Vehicle Rental Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Tourism Vehicle Rental Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Tourism Vehicle Rental Market Size and Volume Forecast by Types
     7.4.1. Economy
     7.4.2. Luxury/Premium
     7.4.3. Others
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Tourism Vehicle Rental Demand Share Forecast, 2019-2026
8. Latin America Tourism Vehicle Rental Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Tourism Vehicle Rental Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Tourism Vehicle Rental Market Size and Volume Forecast by Types
     8.4.1. Economy
     8.4.2. Luxury/Premium
     8.4.3. Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Tourism Vehicle Rental Demand Share Forecast, 2019-2026
9. Europe Tourism Vehicle Rental Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Tourism Vehicle Rental Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Tourism Vehicle Rental Market Size and Volume Forecast by Types
     9.4.1. Economy
     9.4.2. Luxury/Premium
     9.4.3. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Tourism Vehicle Rental Demand Share Forecast, 2019-2026
10. Asia Pacific Tourism Vehicle Rental Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Tourism Vehicle Rental Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Tourism Vehicle Rental Market Size and Volume Forecast by Types
     10.4.1. Economy
     10.4.2. Luxury/Premium
     10.4.3. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Tourism Vehicle Rental Demand Share Forecast, 2019-2026
11. Middle East & Africa Tourism Vehicle Rental Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Tourism Vehicle Rental Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Tourism Vehicle Rental Market Size and Volume Forecast by Types
     11.4.1. Economy
     11.4.2. Luxury/Premium
     11.4.3. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Tourism Vehicle Rental Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Tourism Vehicle Rental Market: Market Share Analysis
  12.2. Tourism Vehicle Rental Distributors and Customers
  12.3. Tourism Vehicle Rental Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Enterprise
     12.4.2. Six SE
     12.4.3. The Hertz Corporation
     12.4.4. Europcar
     12.4.5. Avis

Methodology

Our Clients

Dassault Aviation
Honda Motor Co. Ltd.
General Electric
The John Holland Group
Siemens Healthcare
Pfizer
General Mills
sinopec