The global car rental market sustains growth, backed by continuous recovery in tourist flows and stronger demand from the corporate sector. Developed economies largely support the industry’s growth in 2025. The industry’s long-term outlook remains positive despite increased economic uncertainty, driven by tourism demand and emerging markets.
Key Findings
Car rental market forecast to sustain growth
The global car rental market continued to grow in 2024 and is forecast to sustain growth momentum through 2029. Global market value is forecast to grow by 20% over 2024-2029 and reach USD108 billion in the latter year. The expanding tourism market and robust demand in emerging and developed economies will sustain growth.
US remains the world’s largest car rental market
The US remains the largest car rental market globally and is forecast to maintain its position by 2029, when it is expected to capture 40% of the global car rental market. A strong travel sector, developed car rental network and consumer income gains are set to drive growth. However, short-term economic uncertainty may cloud the outlook.
Latin America offers future growth opportunities
Latin America is forecast to be one of the most dynamic regions for car rental, backed by a growing tourism sector and improving macroeconomic conditions. Markets such as Brazil, Colombia and Mexico are forecast to provide the most growth opportunities for car rental companies over the next five years.
Leisure car rental dominates
Leisure car rental is expected to account for 55% of global car rental market value in 2025. Leisure rental has more future growth potential, especially in emerging markets and the most popular tourism hubs. This is especially evident in emerging markets such as Brazil, Malaysia, India or Vietnam.
Industry is concentrated, but emerging markets still have untapped potential
The global car rental industry remains concentrated, with the top 5 companies generating 65% of total revenue as of 2024. However, the concentration varies significantly across countries. Most emerging economies still have low concentration levels, indicating large untapped market potential and opportunities for new entrants to the car rental market.
The World Market for Car Rental report is designed specifically for stakeholders in the shared mobility and automotive industries. It seeks to provide an in-depth overview of the size, shape and scope of the shared mobility and automotive industries, examining the historic and future market trends. The report can also provide valuable insights to other industries that bear an indirect influence on the mobility and automotive industries including banks and financial services firms, technology companies, governments, and retailers.
Product coverage: Car Rental, Car Traffic Volume, Distances Travelled by Mode of Transport, Electric Charging Points, Fuel Prices, Light Vehicle Sales, Light Vehicle Sales by Level of Autonomy (0-5), New Vehicle Registrations, Shared Mobility, Used Passenger Car Registrations, Vehicle Production, Vehicles in Use.
Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.
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