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Tourism Vehicle Rental Market Share

Report ID: GMI11820
Published Date: Oct 2024
Report Format: PDF

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Tourism Vehicle Rental Market Share

Tourism Vehicle Rental Company Market Revenue Share, 2023

Hertz, Enterprise Rent-a-Car, and Getaround collectively held a substantial market share of over 28% in the tourism vehicle rental industry in 2023. Hertz, Enterprise Rent-A-Car, and Getaround have implemented several strategies to increase their market share in the tourism vehicle rental industry. These companies have expanded their vehicle fleets to include electric and hybrid options, improved their online booking platforms for better user experiences, and offered flexible rental terms to meet various traveller needs.

They have also focused on enhancing customer engagement through loyalty programs, personalized services, and targeted local marketing efforts. Furthermore, these companies have formed partnerships with travel agencies and integrated with ride-sharing platforms to reach a broader customer base in the competitive rental market.

Tourism Vehicle Rental Market Companies

Major players operating in the tourism vehicle rental industry are:

Alamo
Avis
Booking.com
Budget Rent A Car
CarTrawler
Cruise America
Dollar Rent A Car
Enterprise Rent-A-Car
Europcar
Expedia

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of tourism vehicle rental reached USD 81.5 billion in 2023 and is set to grow at a CAGR of 8.3% from 2024 to 2032, driven by rising travel trends.

The short-term rental segment is projected to exceed USD 110 billion by 2032, supported by the growing popularity of weekend getaways and impromptu trips.

The online booking segment held around 76% of the market share in 2023, attributed to its convenience and alignment with consumer preferences for digital interactions.

The U.S. market is projected to exceed USD 40 billion by 2032, led by the country's diverse landscape and attractions.

Major players in the industry include Alamo, Avis, Booking.com, Budget Rent A Car, CarTrawler, Cruise America, Dollar Rent A Car, Enterprise Rent-A-Car, Europcar, and Expedia.