Global Tourism Vehicle Rental Market Size, Share, Growth Report Analysis 2023-2028

Global Tourism Vehicle Rental Market Overview 2023-2028 

IMARC Group, a leading market research company, has recently releases report titled “Tourism Vehicle Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global tourism vehicle rental market report, size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global tourism vehicle rental market size reached US$ 53.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 75.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6% during 2023-2028. 

Tourism vehicle rental refers to the service of renting vehicles to tourists for their transportation needs during their travels. It includes a wide range of vehicle types to suit different travel preferences and group sizes. It can be customized based on the duration of travel, mileage requirements, and optional features, such as global positioning system (GPS) navigation or child seats. It allows tourists to explore destinations at their own pace, deviating from conventional tour itineraries and public transportation schedules. It eliminates the need to rely on public transportation, providing convenience and comfort while traveling. It grants access to remote or less frequented locations that are not easily accessible by public transit. It enables travelers to visit attractions, landmarks, and natural wonders independently. It offers comfort and security while visiting family-friendly attractions. It is widely used by business travelers for convenience during work-related trips, allowing them to maintain flexibility and reach meetings or clients easily.     

Request a Sample Report:- https://www.imarcgroup.com/tourism-vehicle-rental-market/requestsample

Global Tourism Vehicle Rental Market Trends and Drivers:

The increasing preferences for independent travel among the masses, especially the millennial population, represent one of the key factors favoring the market growth. Additionally, the rising trend toward experiential and adventure tourism is fueling the demand for specialized rental vehicles. Along with this, the increasing participation of individuals in road trips, camping, and off-road adventures is catalyzing the demand for rental vehicles like motorhomes, campervans, and 4x4s. Moreover, the continuous rise of online platforms and mobile apps is making it easier for travelers to book rental vehicles in advance, enhancing convenience and accessibility. Additionally, the digitalization of the rental process is facilitating streamlined bookings, reduced wait times, and provided real-time information on vehicle availability. Furthermore, the growing emphasis on sustainability and eco-friendly travel practices is offering a favorable market outlook. Many rental companies are adopting eco-friendly vehicle options, such as electric and hybrid models, to cater to environmentally conscious travelers. Besides this, the rising partnerships between tourism vehicle rental companies and travel agencies or online travel platforms are strengthening the growth of the market. These collaborations provide travelers with bundled packages, combining rental vehicles with accommodation and other services, simplifying trip planning. In addition, the rising need for flexibility and convenience during business travel is catalyzing the demand for tourism vehicle rental. Moreover, the increasing availability of online reviews and recommendations is strengthening the growth of the market. Positive feedback and word-of-mouth endorsements from satisfied customers encourage others to choose rental vehicles for their travel needs. Furthermore, several tourism vehicle rental companies are offering more personalized and customizable options, allowing travelers to tailor their vehicles to specific needs, preferences, and activities, such as family trips, adventure sports, or luxury travel.

Global Tourism Vehicle Rental Market 2023-2028 Analysis and Segmentation:

Top Key Players covered in this report are: 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 and Zoomcar India Private Ltd

The report segmented the market on the basis of region, vehicle type, booking mode and end user.

Breakup by Vehicle Type:

  • Economy
  • Luxury/Premium

Breakup by Booking Mode:

  • Online
  • Offline

Breakup by End User:

  • Self-Driven
  • Rental Agencies

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023- 2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

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Tel No:(D) +91 120 433 0800
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