The global tourism vehicle rental market is anticipated to grow at a considerable CAGR of 8.1% during the forecast period. Europe is the major region that holds a prominent market share in the automotive industry and is anticipated to grow significantly during the forecast period. The core driving factors include corporations enlarging their fleets, a good government's expansionary policies, and a macroeconomic outlook. Fleet managers are growingly selecting low-emission vehicles such as hybrids and electric vehicles as the European government embraces regulations against polluting diesel vehicles. As renting is a practical car finance option due to its significant residual risks tangled with such vehicles, it is anticipated to discourage van rental companies from expanding in the region. With the update of electric vehicles, OEMs are introducing more and more electric vans in the region.
For instance, in May 2021, Opel revealed its 2 new vans Movano-e and Movano. The vans are available in 2 powertrain options such as electric and diesel. The vans are also armed with advanced assistance systems for the safety of all road users. These vans are available in European countries such as the Netherlands, Sweden, Poland, Greece, and others. Moreover, the growing demand for rental vehicles is mainly driven by people's rising interest in road trips and the increasing importance of safety and comfort in the rouse of the pandemic. The tourism rental market is anticipated to grow significantly as transport operations return to their normal functioning with a new normal which is social security guidelines for safety.
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Market Coverage
- The market number available for – 2022-2030
- Base year- 2022
- Forecast period- 2023-2030
Segment Covered-
- By Vehicle Type
- By Booking Mode
- By End-User
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- including Avis Budget Group, Inc., Enterprise Holdings, Inc., Europcar International S.A.S.U., SIXT SE, The Hertz Corp., and others.
Tourism Vehicle Rental Market Report Segment
By Vehicle Type
- Economy
- Luxury/Premium
By Booking Mode
- Online
- Offline
By End-User
- Self-Driven
- Rental Agencies
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Tourism Vehicle Rental Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Auto Europe Deutschland GmbH
- CarTrawler (easyCar)
- Carzonrent (India) Private Limited
- Kemwel
- Seera Group Holding Co.
- ZoomCar, Inc.
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