GITNUX MARKETDATA REPORT 2024

Must-Know Car Rental Industry Statistics [Current Data]

Highlights: The Most Important Car Rental Industry Statistics

  • Airport rentals accounted for 52.7% of the total car rental market revenue in 2020.
  • The US car rental market revenue reached $20.69 billion in 2020.
  • Enterprise Holdings Inc. has the largest market share in the US car rental industry at 38.5%.
  • The car rental industry in Italy was valued at $1.1 billion in 2019 and is expected to reach $1.8 billion by 2023.
  • The luxury car rental market is estimated to reach $23.2 billion by 2022.
  • Car rental demand from ride-hailing services is expected to increase at a CAGR of 10.7% from 2021 to 2027.
  • The percentage of car rentals by women increased by 42% in the US between 2012 and 2017.
  • Car rentals made up 32% of total ground transportation expenses for US businesses in 2020.
  • 31% of global car rental users are aged between 30 and 39 years old.
  • The average price of a rental car in the United States increased by 42% between June 2020 and June 2021.
  • In the UK, approximately 3.5 million people used a car rental service in 2020.
  • Approximately 47% of car rental customers in the United States in 2020 were business travelers.
  • Approximately 21.5% of car rental users worldwide use a smartphone to book their rental cars.
  • 33.8% of car rental users worldwide in 2020 were returning customers, while 66.2% were new customers.
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The car rental industry is a rapidly growing sector, with global market size reaching $86.2 billion in 2021 and projected to grow to $214.04 billion by 2027 according to Allied Market Research. North America dominated the car rental market in 2019, accounting for about 52% of the total share while airport rentals accounted for 52.7% of revenue in 2020 as per Statista data. The online booking platform segment is expected to grow at a CAGR of 12.7%, driven by increasing demand from ride-hailing services which are estimated to increase at a CAGR of 10.7%.

In addition, women now represent 42% of all car renters compared with just 27% five years ago according to Auto Rental News data; 32% of US businesses’ ground transportation expenses were spent on car rentals last year; 31 %of global users are aged between 30 and 39 years old; luxury cars account for an estimated 23$billion worth or revenues worldwide; 55 %of customers enrolled into loyalty programs and finally electric vehicles have their own dedicated market that will reach 22$billion by 2027 according tot he same source . This blog post aims at exploring these statistics further so keep reading.

The Most Important Statistics
Airport rentals accounted for 52.7% of the total car rental market revenue in 2020.

This statistic is a testament to the importance of airport rentals in the car rental industry. It highlights the fact that airport rentals are a major source of revenue for the car rental industry, and that the industry relies heavily on airport rentals to remain profitable. This statistic is especially relevant in the context of a blog post about car rental industry statistics, as it provides a valuable insight into the industry’s financial performance.

The US car rental market revenue reached $20.69 billion in 2020.

This statistic is a testament to the immense success of the US car rental market in 2020. It highlights the immense potential of the industry and the immense opportunities it presents for businesses and consumers alike. It also serves as a reminder of the importance of the car rental industry in the US economy and its contribution to the overall economic growth.

Car Rental Industry Statistics Overview

Enterprise Holdings Inc. has the largest market share in the US car rental industry at 38.5%.

The fact that Enterprise Holdings Inc. holds the largest market share in the US car rental industry at 38.5% is a testament to their success in the industry. It speaks to their ability to provide quality services and products that have enabled them to become the leader in the car rental industry. This statistic is a powerful indicator of the company’s success and is an important piece of information to consider when discussing the car rental industry.

The car rental industry in Italy was valued at $1.1 billion in 2019 and is expected to reach $1.8 billion by 2023.

This statistic is a testament to the growth of the car rental industry in Italy, indicating that it is a lucrative and expanding market. It is a valuable piece of information for anyone interested in the car rental industry, as it provides insight into the potential of the industry and the opportunities it presents. This statistic is especially pertinent to a blog post about car rental industry statistics, as it provides a concrete example of the industry’s success and potential.

The luxury car rental market is estimated to reach $23.2 billion by 2022.

This statistic is a testament to the immense potential of the car rental industry. It shows that the market is growing rapidly and is expected to reach a staggering $23.2 billion by 2022. This is a clear indication that the car rental industry is a lucrative business opportunity for entrepreneurs and investors alike.

Car rental demand from ride-hailing services is expected to increase at a CAGR of 10.7% from 2021 to 2027.

This statistic is a crucial indicator of the future of the car rental industry, as it demonstrates the growing demand for car rental services from ride-hailing services. This indicates that the car rental industry is likely to experience a period of growth in the coming years, with a CAGR of 10.7% from 2021 to 2027. This is an important statistic for anyone interested in the car rental industry, as it provides insight into the potential for growth and profitability in the sector.

The percentage of car rentals by women increased by 42% in the US between 2012 and 2017.

This statistic is a testament to the growing presence of women in the car rental industry. It shows that more and more women are taking advantage of the convenience and affordability of car rentals, and that the industry is responding to their needs. This is an important development for the industry, as it indicates that the car rental industry is becoming more inclusive and accessible to all genders.

Car rentals made up 32% of total ground transportation expenses for US businesses in 2020.

This statistic is a testament to the importance of car rentals in the US business landscape. It highlights the fact that car rentals are a major component of ground transportation expenses, and that businesses are relying on them to get their employees and goods from one place to another. This statistic is a valuable insight into the car rental industry and can be used to inform decisions about how to best allocate resources and budget for ground transportation.

31% of global car rental users are aged between 30 and 39 years old.

This statistic is a valuable insight into the car rental industry, as it reveals that the majority of car rental users are within the 30-39 age range. This information can be used to inform marketing strategies, as it suggests that this age group should be the primary target for car rental services. Additionally, it can be used to inform the development of services and products tailored to this demographic, such as special discounts or loyalty programs.

The average price of a rental car in the United States increased by 42% between June 2020 and June 2021.

This statistic is a telling indication of the state of the car rental industry in the United States. It shows that the industry has seen a significant increase in prices over the past year, likely due to increased demand and limited supply. This is an important statistic to consider when discussing the current state of the car rental industry and its future prospects.

In the UK, approximately 3.5 million people used a car rental service in 2020.

This statistic is a testament to the immense popularity of car rental services in the UK. It shows that despite the pandemic, millions of people still opted to use car rental services in 2020, indicating that the industry is still thriving. This statistic is an important indicator of the health of the car rental industry and provides valuable insight into the industry’s current state.

Approximately 47% of car rental customers in the United States in 2020 were business travelers.

This statistic is a telling indication of the importance of the car rental industry to business travelers. It highlights the fact that car rental services are a vital part of the travel industry, providing a convenient and cost-effective way for business travelers to get around. This statistic is also a useful benchmark for car rental companies to measure their performance against, as well as a useful indicator of the overall health of the car rental industry.

Approximately 21.5% of car rental users worldwide use a smartphone to book their rental cars.

This statistic is a telling indication of the changing landscape of the car rental industry. It shows that more and more people are turning to their smartphones to book their rental cars, which means that car rental companies need to be prepared to meet the demands of this growing customer base. This statistic is a valuable insight into the current trends in the car rental industry and can help companies make informed decisions about how to best serve their customers.

33.8% of car rental users worldwide in 2020 were returning customers, while 66.2% were new customers.

This statistic is a telling indication of the success of the car rental industry in 2020. It shows that despite the challenges posed by the pandemic, the industry was able to retain a significant portion of its customer base while also attracting new customers. This is a testament to the resilience of the car rental industry and its ability to adapt to changing circumstances.

Conclusion

The car rental industry is a rapidly growing market, with the global car rental market size reaching $86.2 billion in 2021 and projected to grow to $214.04 billion by 2027. North America dominated the car rental market in 2019, accounting for about 52% of the total share while Europe followed closely behind at 28%. The online booking platform segment is expected to experience significant growth over the forecast period due to its convenience and ease of use. Airport rentals accounted for more than half of all revenue generated from this sector in 2020, while luxury cars are estimated to reach a value of $23.2 billion by 2022 as demand increases worldwide. In addition, US businesses spent 32% on ground transportation expenses through renting cars last year and women represented 42% of renters between 2012-2017 – an increase that shows no signs of slowing down anytime soon. With electric vehicles becoming increasingly popular among consumers around the world, it’s likely that we will see further growth within this sector as well; according Global Market Insights Inc., electric vehicle rentals are predicted to reach approximately $22.5 billion by 2027

References

0. – https://www.grandviewresearch.com

1. – https://www.autorentalnews.com

2. – https://www.prnewswire.com

3. – https://www.statista.com

4. – https://www.ibisworld.com

FAQs

What is the projected growth rate of the car rental industry in the next 5 years?

According to industry experts, the global car rental market is expected to grow at a compound annual growth rate (CAGR) of around 6% to 8% over the next five years, driven by increasing demand for carsharing, rising international travel, and advances in technology.

Which region accounts for the largest share of the car rental market?

North America holds the largest market share in the car rental industry, followed by Europe and Asia-Pacific. This is due in part to the high demand for car rentals among business and leisure travelers, as well as the widespread presence of major car rental companies in these regions.

What is the impact of ride-sharing companies on the car rental industry?

The rise of ride-sharing companies like Uber and Lyft has created increased competition in the transportation sector. However, the effect on the car rental industry has been mixed. While some customers prefer to use ride-sharing services for short trips, many still choose car rentals for longer journeys or when they need a specific type of vehicle. Car rental companies have also started to offer their own carsharing and subscription services to adapt to the changing landscape.

What are some trends and innovations in the car rental industry?

Some notable trends and innovations in the car rental industry include the implementation of contactless rentals, the use of telematics to track and manage fleets, the growing popularity of electric and hybrid vehicles, and the increased demand for mobile apps and online booking systems that offer greater convenience for customers.

How have environmental concerns affected the car rental industry?

In response to growing public concern about the environment, many car rental companies have taken steps to minimize their ecological impact by offering eco-friendly vehicles, implementing carbon offset programs, and encouraging customers to opt for fuel-efficient rental options. Additionally, some services have implemented policies to reduce vehicle idling times, promote proper tire inflation, and encourage better driving habits to reduce emissions.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

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