Luxury Tourism Vehicle Rental Global Market Report 2025

The luxury tourism vehicle rental market size has grown strongly in recent years. It will grow from $19.96 billion in 2024 to $21.57 billion in 2025 at a compound annual growth rate (CAGR) of 8.1%. The growth during the historic period can be attributed to factors such as urbanization and the rise of metropolitan areas, increasing awareness and popularity of luxury vehicle brands, greater penetration of smartphones and mobile booking apps, a surge in luxury weddings, events, and social functions requiring premium transportation, and a heightened focus on customer service and luxury travel experiences.

The luxury tourism vehicle rental market size is expected to see strong growth in the next few years. It will grow to $29.05 billion in 2029 at a compound annual growth rate (CAGR) of 7.7%. The growth anticipated in the forecast period can be attributed to rising disposable incomes and increasing global wealth levels, growing demand for premium and personalized travel experiences, expansion of luxury tourism and high-end travel segments, an increasing number of international tourists seeking premium transportation options, and a growing preference for chauffeur-driven luxury vehicles. Key trends during this period include the advancement of digital booking platforms, improved vehicle safety features appealing to high-end customers, development of integrated travel packages that combine luxury vehicles with tours, enhanced GPS and navigation technologies for greater travel convenience, and the availability of customized rental plans alongside flexible booking options.

The growth of global tourism is expected to drive the expansion of the luxury tourism vehicle rental market in the coming years. Tourism involves traveling to and staying in places outside one’s normal environment for leisure, business, or other reasons. The increase in tourism is largely due to greater affordability and accessibility of air travel, which has made international destinations more accessible to a wider population. This growth in global tourism leads to a higher demand for premium travel experiences, thereby boosting the need for luxury tourism vehicle rentals as travelers seek comfort, exclusivity, and convenience during their trips. For example, in January 2024, the World Tourism Organization, a Spain-based specialized agency, reported that approximately 975 million international tourists traveled between January and September 2023, reflecting a 38% increase compared to the same period in 2022. Hence, the rise in global tourism is expected to propel the growth of the luxury tourism vehicle rental market.

Key players in the luxury tourism vehicle rental market are focusing on business expansion strategies to achieve economies of scale. Business expansion refers to a company’s strategic efforts to grow operations, increase market reach, or broaden product and service offerings to enhance market presence and profitability. For instance, in June 2022, Avis Australia, an Australian car rental firm, introduced Avis Prestige, a luxury high-end car rental brand. Featuring models such as the Lamborghini Huracan, Rolls-Royce Ghost, McLaren 570S, Ferrari 488, and Bentley Continental GT, this brand offers clients the option to rent sports cars, supercars, and premium luxury vehicles. Avis Prestige complements Avis’ existing premium car rental line, the Avis Signature Series, which includes Mercedes and BMW cars. Additionally, Avis Prestige improves the customer experience by providing vehicle delivery and pickup at the client’s preferred location.

In November 2023, MakeMyTrip, an India-based online travel company, acquired a majority stake in Savaari Car Rentals for an undisclosed amount. This acquisition enables MakeMyTrip to expand its road travel offerings by incorporating Savaari’s wide-ranging chauffeur-driven intercity and local car rental services into its platform. Savaari Car Rentals is an India-based provider specializing in luxury tourism vehicle rentals.

Major players in the luxury tourism vehicle rental market are Europcar Selection, Beverly Hills Rent-A-Car, Turo Inc., Mackie Luxury Car Rental, Avis Prestige, Hertz Dream Cars, Dream Luxury Car Hire, Enterprise Exotic Car Collection, Sixt Luxury Cars, LUXURY RENTAL CARS, Prestige Car Hire Ltd, Blue Chip Car Hire, The Ultimate Drive, Porsche Drive, Los Angeles Luxury Rentals, Car Hire Marbella, Luxury & Exotic Car Rentals, VIP Luxury Car Hire, Supercar Experiences, Exotic Car Rental Miami.

North America was the largest region in the luxury tourism vehicle rental market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in luxury tourism vehicle rental report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the luxury tourism vehicle rental market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Luxury tourism vehicle rental refers to the premium service offering high-end vehicles designed for travelers seeking comfort, exclusivity, and exceptional travel experiences. This service typically provides access to well-maintained, stylish vehicles featuring advanced technology, luxurious interiors, and personalized amenities to enhance the journey.

The main vehicle categories in luxury tourism vehicle rental include luxury cars, sport utility vehicles, limousines, vans, and others. Luxury cars offer premium features, superior performance, exceptional comfort, cutting-edge technology, and exquisite craftsmanship. Booking options include both online and offline modes, with rental durations available for short-term and long-term periods. This service caters to various end-users, including leisure travelers, business travelers, and others.

The luxury tourism vehicle rental market research report is one of a series of new reports that provides luxury tourism vehicle rental market statistics, including luxury tourism vehicle rental industry global market size, regional shares, competitors with an luxury tourism vehicle rental market share, detailed luxury tourism vehicle rental market segments, market trends and opportunities, and any further data you may need to thrive in the luxury tourism vehicle rental industry. The luxury tourism vehicle rental market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The luxury tourism vehicle rental market includes revenues earned by entities by through the airport transfers, chauffeur services, custom itinerary tours, event transportation, and multilingual driver support. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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