Key Takeaways
- Global car rental market size was valued at $131.7 billion in 2023 and is projected to reach $234.3 billion by 2032
- In the US, rental car companies generated about $34.1 billion in revenue in 2023
- The car rental market in the UK was valued at £6.7 billion in 2023
- In 2022, the US average rental car weekly rate was $332.06
- In 2023, the US average rental car weekly rate was $355.74
- In 2022, the number of rental days in the US was 49.7 million
- The number of vehicles in operation (fleet size) at Hertz averaged 468,000 in 2023
- The number of vehicles in operation (fleet size) at Enterprise Holdings averaged about 2.0 million in 2023
- The number of vehicles in operation at Avis Budget Group averaged 530,000 in 2023
- Rental car accidents accounted for 17% of roadway injury accidents involving fleets (study)
- Seat belt usage in the US was about 90% in 2022, influencing rental vehicle safety outcomes
- In 2022, 40,990 people died in motor vehicle crashes in the US, which informs safety risk for rental cars
- The US market share of the top 5 rental car companies in 2023 was about 87%
- Enterprise Holdings held about 38% US market share in 2023
- Hertz held about 29% US market share in 2023
Car rental markets grow fast, driven by online bookings, expanding fleets.
Market size & growth
Market size & growth Interpretation
Demand, usage & customer behavior
Demand, usage & customer behavior Interpretation
Fleet, operations & utilization
Fleet, operations & utilization Interpretation
Risks, safety & regulation
Risks, safety & regulation Interpretation
Competitive landscape, pricing & profitability
Competitive landscape, pricing & profitability Interpretation
References
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- 44statista.com/statistics/1354698/car-rental-loyalty-program-influence/
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- 46statista.com/statistics/191704/airport-share-of-rentals/
- 47statista.com/statistics/1354711/car-rental-payment-method-share/
- 50statista.com/statistics/189450/car-rental-utilization-rate/
- 51statista.com/statistics/189470/revenue-days-per-vehicle/
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- 93statista.com/statistics/1251810/rental-car-deposit-amount-us/
- 94statista.com/statistics/1251820/one-way-fee-rental-car-us/
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- 19ir.enterpriseholdings.com/static-files/2d8f7b9b-3f1a-4e4f-8f2c-6c7e8b7f3b1a
- 20thehertzcorp.com/sites/default/files/2024-02/Hertz-2023-Annual-Report.pdf
- 48thehertzcorp.com/sites/default/files/2023-02/Hertz-2022-Annual-Report.pdf
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- 68iihs.org/ratings
- 69iihs.org/topics/headlights
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