Top Companies in Car Rental Market | Top Key Players Market Insights, Statistics, Company Size $ Share, Future Scope, | Vantage Market Research
Car Rental is the service of renting automobiles for a set period through online or offline channels.
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Market Overview:
The Global Car Rental Market was valued at USD 98.4 Billion in 2021 and is expected to reach a value of USD 126.6 Billion by 2028. The Global Market is forecast to grow by exhibiting a Compound Annual Growth Rate (CAGR) of 4.3% over the forecast period. The Car Rental industry has received much attention due to the rising popularity of smartphone-based online rental car booking apps. Companies allow customers to rent cars for a short or long time. Tourist hotspots and tier 1 and 2 cities are where most of these services are provided. Cost-effectiveness, rising pollution, rising car prices, and other crucial factors are what are causing this sector to expand so quickly. The industry is gradually becoming a significant vertical in the transportation industry, helping manufacturers, customers, and rental businesses. The market is also fueled by economic growth and an increase in the use of luxury vehicles by corporations traveling on business worldwide. The expansion of the tourism industry is another factor encouraging growth. Spending additional money on family time is becoming more common. The growing digital revolution has significantly impacted the automobile rental sector. The digital platform has allowed customers to share more information, creating new avenues for communication with car rental companies. New technologies are being used by retail businesses to distinguish their brands and provide unique services to customers.
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Some of the key players operating in the Car Rental Market are listed below:
|
Company Name |
Revenue in the US |
|
$19 Billion |
|
$6 Billion |
|
$2 Billion |
|
$2 Billion |
|
$8 Billion |
|
$2 Billion |
|
$355 Million |
|
<5 Million |
This company is an American car rental agency which is headquartered in Greater St. Louis. Enterprise is the flagship brand of Enterprise Holdings, which also owns other agencies, including Alamo Rent a Car and National Car Rental. This company was founded in the year 1957, and there are approximately 80 thousand employees working in this organization.
This company is a subsidiary of Hertz Global Holdings, Inc., which is an American car rental company based in Florida. The company operates approximately 12 thousand corporate and franchisee locations, both domestically and internationally. This company was founded in the year 1918, and its headquarters are situated in the United States. The company has approximately 25 thousand employees working in the company.
The company is an international mobility service provider with about 2,000 locations in more than 100 countries. Localiza SIXT SE acts as a parent and holding company of the Localiza SIXT Group, which is internationally active in vehicle rental, car sharing, ride-hailing, and subscription business areas. The company was founded in the year 1912, and its headquarters are situated in Germany. The company has approximately 6,500 employees working in its organization.
This company is a French car rental company that was founded in 1949 in Paris. Europcar focuses on leisure and corporate rentals and has grown to operate a fleet of over 200 thousand vehicles at 3,300 locations in 150 countries worldwide. The company has approximately 9 thousand employees working in their organization. The company headquarters are in France.
This company is the American parent company of Avis Car Rental, Budget Car Rental, Budget Truck Rental, and Zipcar, consisting of its global brands. Its local brands include Payless Car Rental, Apex Car Rentals, Maggiore Group, and France Cars. It was founded in the year 1946, and its headquarters is situated in the United States. The company has approximately 30 thousand employees.
This company is a Brazilian car rental company founded in 1973 in Belo Horizonte and is the biggest car rental in Latin America and one of the largest in the world by size of the fleet and market capitalization. The company headquarters are situated in Brazil, and there are approximately 11,500 employees working in the company.
This company is majorly known as Carzonrent, an Indian car-rental company. The company is headquartered in New Delhi, India. Carzonrent was founded by Rajiv Kumar Vij in 2000. In 2001, Carzonrent won the exclusive franchise rights for the American car rental firm Hertz International in India. There are approximately 500-1000 employees working in the organization.
This company is doing business as Ola cabs and operates as an online transportation network company. The company offers mobility solutions by connecting customers to drivers and a wide range of vehicles across bikes, auto-rickshaws, metered taxis, and cabs. Ola cabs serve customers worldwide. The company headquarters are situated in Bangalore and was founded in the year 2010. There are approximately 2000-5000 employees working in this company.
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