The Vietnam car rental market was valued at USD 781.20 Million in 2024. The industry is expected to grow at a CAGR of 14.00% during the forecast period of 2025-2034 to attain a valuation of USD 2.89 billion by 2034.
Economy/budget car rentals cater mostly to cost-conscious clients seeking practical transportation solutions for everyday use or short-term trips. For families, students or individuals seeking budget-friendly options budget car rentals serve as dependable and cost-effective solutions. These services provide economical options featuring fuel-efficient vehicles equipped with essential amenities.
In April 2024, Lotte Rental Co., one of South Korea's top car rental companies, announced the launch of its "Vietnam Driver-inclusive Rental Car" service within the domestic region. This service enabled customers to travel between airports and accommodations in rental cars with chauffeurs included. The service was introduced in Hanoi, Ho Chi Minh, and Da Nang, where the company had branch offices.
Individuals seeking outdoor adventures, versatility, and spaciousness in their rental cars find SUV rentals appealing. The SUV range in the car rental space has a wide array of models suitable for different travel scenarios and terrains, and they offer ample cargo space and comfortable seating. SUVs can also be considered an ideal choice for individuals seeking to travel for both business travel and leisure since they promise reliability, performance, and flexibility.
Vietnam Car Rental Market Growth
The boost in the Vietnam car rental market is mostly driven by SUVs.Economy/budget car rentals cater mostly to cost-conscious clients seeking practical transportation solutions for everyday use or short-term trips. For families, students or individuals seeking budget-friendly options budget car rentals serve as dependable and cost-effective solutions. These services provide economical options featuring fuel-efficient vehicles equipped with essential amenities.
In April 2024, Lotte Rental Co., one of South Korea's top car rental companies, announced the launch of its "Vietnam Driver-inclusive Rental Car" service within the domestic region. This service enabled customers to travel between airports and accommodations in rental cars with chauffeurs included. The service was introduced in Hanoi, Ho Chi Minh, and Da Nang, where the company had branch offices.
Individuals seeking outdoor adventures, versatility, and spaciousness in their rental cars find SUV rentals appealing. The SUV range in the car rental space has a wide array of models suitable for different travel scenarios and terrains, and they offer ample cargo space and comfortable seating. SUVs can also be considered an ideal choice for individuals seeking to travel for both business travel and leisure since they promise reliability, performance, and flexibility.
Vietnam Car Rental Market Segmentation
Vietnam Car Rental Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:Market Breakup by Booking Type
- Offline
- Online
Market Breakup by Rental Length Type
- Short-Term
- Long-Term
Market Breakup by Application Type
- Leisure/Tourism
- Business
Market Breakup by Vehicle Type
- Luxury/Premium Cars
- Economy/Budget Cars
- SUVs
- MUVs
Vietnam Car Rental Market Share
Mobile applications and third-party websites along with company websites and other online methods for booking are leading growth in the car rental market in Vietnam. Websites and applications offer a personalised touch to the booking experience along with on-the-go convenience.Leading Companies in the Vietnam Car Rental Market
The car rental market in Vietnam is propelled by rising demand, tourism growth, urbanization, technological advancements, short-term rentals, diverse vehicle options, corporate usage, environmental consciousness, regulatory shifts, and heightened competition and consolidation.- Avis Budget Group Inc.
- Enterprise Holdings, Inc.
- Hertz Global Holdings, Inc.
- Grab Holdings Limited
- PT GoTo Gojek Tokopedia Tbk
- Mai Linh Group
- Vietnam Trust Car Rental Company
- Vinasun Corp.
- Others
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Asia Pacific Car Rental Market Overview
6 Vietnam Car Rental Market Overview
7 Vietnam Car Rental Market by Booking Type
8 Vietnam Car Rental Market by Rental Length Type
9 Vietnam Car Rental Market by Application Type
10 Vietnam Car Rental Market by Vehicle Type
11 Market Dynamics
12 Competitive Landscape
Companies Mentioned
- Avis Budget Group Inc.
- Enterprise Holdings Inc.
- Hertz Global Holdings, Inc.
- Grab Holdings Limited
- PT GoTo Gojek Tokopedia Tbk
- Mai Linh Group
- Vietnam Trust Car Rental Company
- Vinasun Corp.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 133 |
| Published | May 2025 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value ( USD | $ 781.2 Million |
| Forecasted Market Value ( USD | $ 2896.08 Million |
| Compound Annual Growth Rate | 14.0% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 8 |
