Global Tourism Vehicle Rental Market Report 2025: Share & Forecast

The Global Tourism Vehicle Rental Market Report reached an impressive global valuation of USD 59.7 billion in 2024 and is projected to surge to USD 98.0 billion by 2033, growing at a solid CAGR of 5.66% between 2025 and 2033. This growth is propelled by booming travel and tourism trends, travelers' growing preference for flexible transport solutions, and the rising demand for sustainable, eco-friendly vehicle options.

Study Assumption Years

• BASE YEAR: 2024
• HISTORICAL YEAR: 2019–2024
• FORECAST YEAR: 2025–2033

Tourism Vehicle Rental Market Key Takeaways

• The global market size was USD 59.7 billion in 2024 and is forecast to reach USD 98.0 billion by 2033, growing at a 5.66% CAGR.
• Economy vehicles dominate, serving budget-conscious travelers with fuel-efficient and practical options.
• Online booking leads in booking modes, favored for its convenience and accessible platforms.
• Rental agencies outperform self-driven models, offering organized, hassle-free service options.
• North America holds the largest regional share, backed by strong infrastructure, tourism, and mature rental services.
• Growth is fueled by technological innovations, sustainability trends, and a rising desire for flexible, personalized travel experiences.

Market Growth Factors

1. Rising Travel Demand & Flexible Transport Preferences

The tourism vehicle rental market's expansion is primarily driven by a surge in global tourism, amplified by rising disposable incomes and the appeal of self-guided travel experiences. Travelers increasingly crave control over their itineraries, favoring rentals over rigid tour packages. With a growing trend toward independent travel and a preference for convenience, vehicle rental services are well-positioned to meet this demand while offering diverse vehicle options - from budget-friendly economy cars to premium luxury models.

2. Technological Innovations Enhancing Convenience & Efficiency

Technology plays a pivotal role in shaping the tourism vehicle rental landscape. Online platforms and mobile apps enable seamless browsing, price comparisons, and booking, while GPS, telematics, and geo-tracking elevate vehicle management and security. These innovations not only streamline user experience for tech-savvy travelers but also boost operational efficiency and fleet optimization for providers, making the market more competitive and service-oriented.

3. Sustainability & Eco-Friendly Vehicle Adoption

Environmental consciousness is increasingly influencing travel decisions. With a rising focus on eco-tourism, rental companies are expanding their fleets to include hybrids and electric vehicles (EVs). This shift aligns with global sustainability goals and attracts environmentally mindful travelers seeking greener transportation options. The integration of eco-friendly vehicles not only enhances rental companies’ market appeal but also underscores a long-term positive trajectory for the tourism vehicle rental sector.

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Market Segmentation

Below is the full and precise segmentation information as presented in the IMARC report, including all sub-segments in the exact order:

• Breakup by Vehicle Type:
  • Economy — budget-friendly, fuel-efficient options for cost-sensitive travelers.
  • Luxury/Premium — high-comfort, stylish vehicles for premium experiences.
• Breakup by Booking Mode:
  • Online — bookings via digital platforms, mobile apps are highly convenient.
  • Offline — bookings at physical counters or offices, preferred for in-person service.
• Breakup by End User:
  • Self-Driven — travelers rent and drive vehicles themselves.
  • Rental Agencies — agencies rent out vehicles with optional services and packages.
• Breakup by Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Regional Insights

North America currently leads the tourism vehicle rental market, underpinned by its strong tourism infrastructure, well-established rental services, and road-travel culture. These factors have created a robust regional ecosystem that supports sustained growth and innovation in rental solutions.

Recent Developments & News

In recent developments, the tourism vehicle rental industry is embracing mobile-first and sustainable trends. Emerging partnerships—particularly among online travel platforms, hotels, and rental companies—are enhancing booking convenience and expanding service offerings. Additionally, the market is witnessing a shift toward eco-conscious choices, with increased availability of electric and hybrid rentals that support green travel while meeting evolving traveler expectations. Overall, the sector is innovating to deliver flexibility, sustainability, and a seamless customer experience—based on the latest insights from the report’s news section.

Key Players

The principal companies shaping the tourism vehicle rental market (as listed in the IMARC report) include:

Alamo (Enterprise Holdings Inc), Auto Europe, Avis Budget Group Inc., Carzonrent India Pvt Ltd., EasyCar.com, Europcar Mobility Group, Europe Luxury Cars, Kemwel, Sixt SE, The Hertz Corporation, Zoomcar India Private Ltd., etc.

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