Tourism Vehicle Rental Market Size, Share, Industry Trends & Forecast 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, growth and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Tourism vehicle rental refers to the offering of rental vehicles to tourists and travelers, addressing their transportation needs during their journeys. This service provides a hassle-free and flexible way to discover a new destination comfortably. It serves as a practical option for travelers, allowing them to create personalized itineraries and discover different attractions and off-the-beaten-path locations according to their preferences, rather than relying on public transportation or guided tours.

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.

Global Tourism Vehicle Rental Market Trends and Drivers:

At present, the tourism vehicle rental market is undergoing substantial expansion, mainly propelled by the growing enthusiasm for adventure travel on a global scale. This shift has resulted in a heightened use of rental vehicles by those seeking thrilling journeys. Moreover, there's an increasing desire for adaptable transportation choices during vacations, enabling travelers to effortlessly explore various destinations, which is having a positive impact on the market. Furthermore, the movement towards environmentally responsible practices has fostered a rising preference for electric and hybrid vehicles among tourists. These eco-friendly alternatives, with their low or zero emissions, are creating appealing prospects for investors in the sector.

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: