[Start of Market Research Report Handling] Global Car Rental Market Report 2024-2029

The rental car market size is estimated to reach 132.1 billion USD in 2024 and is projected to reach 220.1 billion USD by 2029, with a CAGR of over 10.75% during the forecast period (2024-2029).
The COVID-19 pandemic had a significant impact on travel and tourism worldwide, greatly affecting the rental car and ride-sharing transportation segments. The pandemic led to downgrades in corporate ratings and market volatility. However, as regulations were eased, the market began to show signs of recovery.
Additionally, the chip shortage hindered global automotive production in 2021, prompting consumers to shift to rental cars, considering the maintenance and ownership cost savings offered by rental car services.
The positive growth trajectory of the rental car market is supported by various factors, including an increase in tourists and business travelers, changes in consumer preferences due to health concerns, and the convenience of digital platforms for rental cars.
■ Issued by
Mordor Intelligence

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