Report Overview

Europe Car Rental Market - Industry Trends & Forecast Report, 2029

Europe car rental market size was estimated at USD 14.16 billion in 2022. During the forecast period between 2023 and 2029, the size of Europe car rental market is projected to grow at a CAGR of 10.86% reaching a value of USD 26.28 billion by 2029. Europe car rental market is influenced by several key driving factors. Firstly, the growing trend of tourism within Europe contributes significantly, as tourists often require rental vehicles for transportation. Also, the convenience and flexibility of car rentals for business travelers play a pivotal role. Environmental concerns and a shift towards eco-friendly options, like electric and hybrid cars, are also impacting the market. The expansion of online booking platforms and mobile apps has made it easier for consumers to access rental services. Further, the proliferation of ride-sharing and car-sharing services has intensified competition, prompting rental companies to innovate and offer competitive pricing and services.

Car Rental - Overview

Car rental refers to the temporary usage of a vehicle, typically from a rental company, for a specified period in exchange for a fee. It offers individuals and businesses the flexibility of access to a wide range of vehicles, including cars, vans, and trucks, without the commitment of ownership. Customers can rent vehicles for various purposes, such as travel, transportation, or special occasions. Rental companies often offer a variety of vehicle models, rental durations, and optional services like insurance and GPS navigation. Car rental is a convenient and cost-effective solution for those needing temporary access to transportation.

Europe Car Rental Market

Growth Drivers

Sustainable Tourism Trends Propel Market Growth

One significant growth driver for the Europe car rental market is the increasing emphasis on sustainable tourism. Travelers across the continent are increasingly conscious of their carbon footprint and are seeking eco-friendly transportation options. Car rental companies are responding by expanding their fleets with electric and hybrid vehicles, reducing emissions, and adopting green practices. Also, government regulations and incentives to promote clean energy transportation are pushing the industry towards sustainability. Therefore, eco-conscious travelers are more likely to choose car rental services that align with their values, driving the growth of this segment in the European market.

Restraints

Supply Chain Bottlenecks

Europe car rental market faces a significant restraint due to supply chain bottlenecks, hampering its growth prospects. The global semiconductor shortage has disrupted the production of new vehicles, leading to reduced fleet availability for rental companies. Also, delays in the delivery of rental vehicles, spare parts, and maintenance equipment have created operational challenges, impacting the overall customer experience. Rising fuel costs and limited access to electric and hybrid vehicles further compound the industry's woes, as customers seek more eco-friendly options. These multifaceted supply chain issues pose a formidable obstacle to the recovery and expansion of the Europe car rental sector.

Impact of COVID-19 on Europe Car Rental Market

COVID-19 pandemic significantly impacted Europe car rental market. Travel restrictions, lockdowns, and reduced tourism significantly dampened demand for rental vehicles, leading to a sharp decline in revenues for car rental companies. Many firms struggled to adapt to the new normal, implementing strict hygiene measures and contactless services to reassure customers. The business and leisure travel segments were particularly affected, with a shift towards remote work and reduced international travel. As vaccination campaigns progressed, the market slowly recovered, but it faced ongoing challenges due to uncertainties in travel patterns and evolving pandemic dynamics, reshaping the industry's future outlook.

Europe Car Rental Market

Segmental Coverage

Europe Car Rental Market - By Vehicle Type

By vehicle type, Europe car rental market is divided into Luxury Cars, Executive Cars, Economy Cars, SUVs, and MUVs segments. Luxury cars often attract discerning travelers seeking premium comfort and style. Executive cars target business travelers with a preference for sophistication. Economy cars appeal to budget-conscious individuals, while SUVs and MUVs meet the demand for spacious and versatile vehicles. Collectively, these segments underscore the market's adaptability, ensuring that European car rental providers can accommodate a wide array of clientele, making it a thriving and competitive industry across the continent.

Europe Car Rental Market - By Application

Based on application, Europe car rental market is divided into Local usage, Airport transport, and Outstation segments. The local usage segment stands out as the largest. This segment caters to individuals and businesses looking for short-term rentals within city limits, making it a significant driver of the overall car rental industry in Europe. It encompasses a wide range of customers who require vehicles for daily commuting, leisure, or short trips. With its broad customer base and diverse rental needs, the Local usage segment plays a pivotal role in shaping the dynamics and competitiveness of the European car rental market.

Europe Car Rental Market - By Booking Type

By booking type, Europe car rental market is split into Online and Offline segments. The online segment has witnessed substantial growth and prominence in recent years. This digital-driven segment allows customers to conveniently book rental cars through various online platforms and apps, offering a wide range of choices and competitive pricing. With the increasing trend of digitalization and the ease of online reservations, the online segment has become the largest and most dominant sector in the European car rental industry. It continues to evolve, offering customers a seamless and efficient way to access rental vehicles across the continent.

Europe Car Rental Market - By Country

Geographically, Europe car rental market is divided into Germany, United Kingdom, Italy, France, Spain, Belgium, Russia, the Netherlands, and Rest of Europe. These countries represent the core of the market, each offering unique opportunities and challenges for car rental services. However, it's important to note that there is also a segment known as "Rest of Europe," which encompasses other European nations not specifically mentioned here. While these countries may have smaller market shares individually, their collective impact on the European car rental industry should not be underestimated, as they contribute to the overall diversity and complexity of the market.

Competitive Landscape

Europe car rental market is fiercely competitive, with Avis Budget Group, SIXT SE, Enterprise Holdings Inc., Europcar International, The Hertz Corporation, ALD Automotive, Europcar Mobility Group, FleetCor Technologies, Movilitas Rent a Car, Goldcar, InterRent, Aurtoclick, Thrifty Car Rental, Budget Rent a Car, and Alamo Rent A Car. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Scope of the Report

By Vehicle Type

• • Luxury Cars

  • Executive Cars

  • Economy Cars

  • SUVs

  • MUVs

By Application

• • Local Usage

  • Airport Transport

  • Outstation

By Booking Type

• • Online

  • Offline

By Country

• • Germany

  • United Kingdom

  • Italy

  • France

  • Spain

  • Belgium

  • Russia

  • The Netherlands

  • Rest of Europe

1. Research Framework
   1. Research Objective
   2. Technology Overview
   3. Market Segmentation
2. Executive Summary
3. Europe Car Rental Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increasing tourism in Europe
         2. Growth of the shared mobility market
      2. Restrain
         1. Economic slowdown
         2. Rising fuel prices
      3. Opportunities
         1. Expansion into new markets
         2. Development of new products and services
      4. Challenges
         1. Competition from other modes of transportation
         2. Managing a large fleet of vehicles
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Europe Car Rental Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share and Forecast
      1. By Vehicle Type
         1. Luxury Cars
         2. Executive Cars
         3. Economy Cars
         4. SUVs
         5. MUVs
      2. By Application
         1. Local Usage
         2. Airport Transport
         3. Outstation
         4. Others
      3. By Booking Type
         1. Online
         2. Offline
      4. By Country
         1. Germany
         2. United Kingdom
         3. Italy
         4. France
         5. Spain
         6. Belgium
         7. Russia
         8. The Netherlands
         9. Rest of Europe
5. Germany Car Rental Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Vehicle Type
      2. By Application
      3. By Booking Type
6. United Kingdom Car Rental Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Vehicle Type
      2. By Application
      3. By Booking Type
7. Italy Car Rental Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Vehicle Type
      2. By Application
      3. By Booking Type
8. France Car Rental Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Vehicle Type
      2. By Application
      3. By Booking Type
9. Spain Car Rental Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Vehicle Type
      2. By Application
      3. By Booking Type
10. Belgium Car Rental Market Overview
    1. Market Size & Forecast, 2019–2029
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Vehicle Type
       2. By Application
       3. By Booking Type
11. Russia Car Rental Market Overview
    1. Market Size & Forecast, 2019–2029
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Vehicle Type
       2. By Application
       3. By Booking Type
12. The Netherlands Car Rental Market Overview
    1. Market Size & Forecast, 2019–2029
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Vehicle Type
       2. By Application
       3. By Booking Type
13. Rest of Europe Car Rental Market Overview
    1. Market Size & Forecast, 2019–2029
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Vehicle Type
       2. By Application
       3. By Booking Type
14. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Europe Car Rental Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
15. Impact of COVID-19 on Europe Car Rental Market
16. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Avis Budget Group
    2. SIXT SE
    3. Enterprise Holdings Inc.
    4. Europcar International
    5. The Hertz Corporation
    6. ALD Automotive
    7. Europcar Mobility Group
    8. FleetCor Technologies
    9. Movilitas Rent a Car
    10. Goldcar
    11. InterRent
    12. Aurtoclick
    13. Thrifty Car Rental
    14. Budget Rent a Car
    15. Alamo Rent-a-Car
    16. Other Prominent Players
17. Key Strategic Recommendations
18. Research Methodology
    1.    Qualitative Research
       1.  Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.    Breakdown of Primary Research Respondents, By Region
    5.    Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

List of Figures

Figure 1       Europe Car Rental Segmentation

Figure 2       Europe Car Rental Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       Europe Car Rental Market Size, By Value (USD Million), 2019–2029

Figure 5       Europe Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Figure 6       Europe Car Rental Market Share, By Application, By Value, 2019–2029

Figure 7       Europe Car Rental Market Share, By Booking Type, By Value, 2019–2029

Figure 8       Germany Car Rental Market Size, By Value (USD Million), 2019–2029

Figure 9       Germany Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Figure 10     Germany Car Rental Market Share, By Application, By Value, 2019–2029

Figure 11     Germany Car Rental Market Share, By Booking Type, By Value, 2019–2029

Figure 12     United Kingdom Car Rental Market Size, By Value (USD Million), 2019–2029

Figure 13     United Kingdom Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Figure 14     United Kingdom Car Rental Market Share, By Application, By Value, 2019–2029

Figure 15     United Kingdom Car Rental Market Share, By Booking Type, By Value, 2019–2029

Figure 16     Italy Car Rental Market Size, By Value (USD Million), 2019–2029

Figure 17     Italy Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Figure 18     Italy Car Rental Market Share, By Application, By Value, 2019–2029

Figure 19     Italy Car Rental Market Share, By Booking Type, By Value, 2019–2029

Figure 20     France Car Rental Market Size, By Value (USD Million), 2019–2029

Figure 21     France Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Figure 22     France Car Rental Market Share, By Application, By Value, 2019–2029

Figure 23     France Car Rental Market Share, By Booking Type, By Value, 2019–2029

Figure 24     Spain Car Rental Market Size, By Value (USD Million), 2019–2029

Figure 25     Spain Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Figure 26     Spain Car Rental Market Share, By Application, By Value, 2019–2029

Figure 27     Spain Car Rental Market Share, By Booking Type, By Value, 2019–2029

Figure 28     Belgium Car Rental Market Size, By Value (USD Million), 2019–2029

Figure 29     Belgium Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Figure 30     Belgium Car Rental Market Share, By Application, By Value, 2019–2029

Figure 31     Belgium Car Rental Market Share, By Booking Type, By Value, 2019–2029

Figure 32     Russia Car Rental Market Size, By Value (USD Million), 2019–2029

Figure 33     Russia Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Figure 34     Russia Car Rental Market Share, By Application, By Value, 2019–2029

Figure 35     Russia Car Rental Market Share, By Booking Type, By Value, 2019–2029

Figure 36     The Netherlands Car Rental Market Size, By Value (USD Million), 2019–2029

Figure 37     The Netherlands Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Figure 38     The Netherlands Car Rental Market Share, By Application, By Value, 2019–2029

Figure 39     The Netherlands Car Rental Market Share, By Booking Type, By Value, 2019–2029

Figure 40     Rest of Europe Car Rental Market Size, By Value (USD Million), 2019–2029

Figure 41     Rest of Europe Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Figure 42     Rest of Europe Car Rental Market Share, By Application, By Value, 2019–2029

Figure 43     Rest of Europe Car Rental Market Share, By Booking Type, By Value, 2019–2029

List of Tables

Table 1        Europe Car Rental Market Size, By Value (USD Million), 2019–2029

Table 2        Europe Car Rental Market Size, By Vehicle Type, By Value, 2019–2029

Table 3        Europe Car Rental Market Size, By Application, By Value, 2019–2029

Table 4        Europe Car Rental Market Size, By Booking Type, By Value, 2019–2029

Table 5        Germany Car Rental Market Size, By Value (USD Million), 2019–2029

Table 6        Germany Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Table 7        Germany Car Rental Market Share, By Application, By Value, 2019–2029

Table 8        Germany Car Rental Market Share, By Booking Type, By Value, 2019–2029

Table 9        United Kingdom Car Rental Market Size, By Value (USD Million), 2019–2029

Table 10      United Kingdom Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Table 11      United Kingdom Car Rental Market Share, By Application, By Value, 2019–2029

Table 12      United Kingdom Car Rental Market Share, By Booking Type, By Value, 2019–2029

Table 13      Italy Car Rental Market Size, By Value (USD Million), 2019–2029

Table 14      Italy Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Table 15      Italy Car Rental Market Share, By Application, By Value, 2019–2029

Table 16      Italy Car Rental Market Share, By Booking Type, By Value, 2019–2029

Table 17      France Car Rental Market Size, By Value (USD Million), 2019–2029

Table 18      France Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Table 19      France Car Rental Market Share, By Application, By Value, 2019–2029

Table 20      France Car Rental Market Share, By Booking Type, By Value, 2019–2029

Table 21      Spain Car Rental Market Size, By Value (USD Million), 2019–2029

Table 22      Spain Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Table 23      Spain Car Rental Market Share, By Application, By Value, 2019–2029

Table 24      Spain Car Rental Market Share, By Booking Type, By Value, 2019–2029

Table 25      Belgium Car Rental Market Size, By Value (USD Million), 2019–2029

Table 26      Belgium Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Table 27      Belgium Car Rental Market Share, By Application, By Value, 2019–2029

Table 28      Belgium Car Rental Market Share, By Booking Type, By Value, 2019–2029

Table 29      Russia Car Rental Market Size, By Value (USD Million), 2019–2029

Table 30      Russia Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Table 31      Russia Car Rental Market Share, By Application, By Value, 2019–2029

Table 32      Russia Car Rental Market Share, By Booking Type, By Value, 2019–2029

Table 33      The Netherlands Car Rental Market Size, By Value (USD Million), 2019–2029

Table 34      The Netherlands Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Table 35      The Netherlands Car Rental Market Share, By Application, By Value, 2019–2029

Table 36      The Netherlands Car Rental Market Share, By Booking Type, By Value, 2019–2029

Table 37      Rest of Europe Car Rental Market Size, By Value (USD Million), 2019–2029

Table 38      Rest of Europe Car Rental Market Share, By Vehicle Type, By Value, 2019–2029

Table 39      Rest of Europe Car Rental Market Share, By Application, By Value, 2019–2029

Table 40      Rest of Europe Car Rental Market Share, By Booking Type, By Value, 2019–2029

Table 41      Avis Budget Group Company Overview

Table 42      Avis Budget Group Financial Overview

Table 43      SIXT SE Company Overview

Table 44      SIXT SE Financial Overview

Table 45      Enterprise Holdings Inc. Company Overview

Table 46      Enterprise Holdings Inc. Financial Overview

Table 47      Europcar International Company Overview

Table 48      Europcar International Financial Overview

Table 49      The Hertz Corporation Company Overview

Table 50      The Hertz Corporation Financial Overview

Table 51      ALD Automotive Company Overview

Table 52      ALD Automotive Financial Overview

Table 53      Europcar Mobility Group Company Overview

Table 54      Europcar Mobility Group Financial Overview

Table 55      FleetCor Technologies Company Overview

Table 56      FleetCor Technologies Financial Overview

Table 57      Movilitas Rent a Car Company Overview

Table 58      Movilitas Rent a Car Financial Overview

Table 59      Goldcar Company Overview

Table 60      Goldcar Financial Overview

Table 61      InterRent Company Overview

Table 62      InterRent Financial Overview

Table 63      Alamo Rent A Car Company Overview

Table 64      Alamo Rent A Car Financial Overview

Table 65      Other Prominent Players Company Overview

Table 66      Other Prominent Players Financial Overview