Global Luxury Car Rental Market is valued at approximately USD 29.95 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.5% over the forecast period 2022-2029. Luxury car rentals are becoming more and more common. High-end vehicles can be rented from certain businesses or organizations for a price. Exotic car rentals are popular due to their luxurious transportation, flexibility in selecting from a range of models, and help in projecting the right image for specific occasions. The Luxury Car Rental Market is expanding because of factors such as the rise of Demand-Responsive Transport and the rising number of Air Travelers.
Luxury passenger and charter vehicles with features such as real-time feedback, vehicle tracking, and customer ratings are included in demand-responsive transportation services. Finding luxury vehicles and comparing pricing with the relevant car rental providers are made simpler by a variety of smartphone applications. Humax stated in February 2021 that it provides the WTC mobility service platform with the "Auto Rent RAiDEA," enabling customers to compare local taxi, luxury automobile rental, and ride-hailing pricing from many firms in one app. Additionally, GoAir and Eco Europcar had begun rental services in 100 Indian locations, including 25 airports, in April 2021. Additionally, GoAir will use Eco Europcar to provide chauffeur-driven vehicles in the mid-range to luxury car sectors. These exotic automobile rental organizations also offer a variety of services to their clients. As a result, the trend toward demand-responsive transportation is growing which is driving the market growth. In addition, digitization in the booking process, payment process, and management of luxury car rental is creating a lucrative growth to the market.
The key regions considered for the Global Luxury Car Rental Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominates the market in terms of revenue, owing to factors such as rising populations, an increase in the number of billionaires, geographic expansion of key players. Furthermore, North America is expected to grow at fastest rate owing to factors such as rising demand for luxury vehicles.
Major market player included in this report are:
- Avis Budget Group
- Sixt
- Enterprise Holdings
- Movida
- Hertz
- Localiza
- Europcar Mobility Group
- Car Inc.
- EHi Car Services
- Unidas
Recent Developments in the Market:
- In June 2022, Starr Luxury, a high-end rental automobile company founded by Ikenna Ordor, announced its growth in the United States. Major cities such as Los Angeles, Miami, Houston, Atlanta, and Austin received announcements about the launch of their operations. One of the few companies of its kind with a partnership with five-star hotels is known as Starr Luxury.
- In December 2021, The UAE's Ajman Public Transport Authority (APTA) announced the availability of vehicle rental services to promote the establishment of an egalitarian and comprehensive transportation system as part of the Emirate's Vision 2021. The modification aims to offer clients convenient access to high-quality services. This service, which is a component of high-end car rental services, was established by the Transport Authority's Vehicle Rental Section.
Global Luxury Car Rental Market Report Scope:
- Historical Data: 2019-2020-2021
- Base Year for Estimation: 2021
- Forecast period: 2022-2029
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Rental Type, Booking Mode type, End User, Rental Length, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Rental Typeofferings of key players. The detailed segments and sub-segment of the market are explained below.
Rental Type:
Booking Mode Type:
End User:
- Self-Driven
- Chauffeur-Driven
Rental Length:
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLA
- Rest of the World
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. Luxury Car Rental Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. Luxury Car Rental Market, by Rental Type, 2019-2029 (USD Billion)
- 1.2.3. Luxury Car Rental Market, by Booking Mode Type, 2019-2029 (USD Billion)
- 1.2.4. Luxury Car Rental Market, by End User, 2019-2029 (USD Billion)
- 1.2.5. Luxury Car Rental Market, by Rental Length, 2019-2029 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Luxury Car Rental Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Luxury Car Rental Market Dynamics
- 3.1. Luxury Car Rental Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Rise of Demand-Responsive Transport
- 3.1.1.2. Rising Number of Air Travelers
- 3.1.2. Market Challenges
- 3.1.2.1. High Deposit Amounts and Rental Costs
- 3.1.3. Market Opportunities
- 3.1.3.1. Digitization in the Booking Process, Payment Process, and Management of Luxury Car Rental
- 3.1.3.2. Rising spending on travelling
Chapter 4. Global Luxury Car Rental Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. Industry Experts Prospective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Luxury Car Rental Market, by Rental Type
- 6.1. Market Snapshot
- 6.2. Global Luxury Car Rental Market by Rental Type, Performance - Potential Analysis
- 6.3. Global Luxury Car Rental Market Estimates & Forecasts by Rental Type 2019-2029 (USD Billion)
- 6.4. Luxury Car Rental Market, Sub Segment Analysis
- 6.4.1. Business
- 6.4.2. Leisure
Chapter 7. Global Luxury Car Rental Market, by Booking Mode Type
- 7.1. Market Snapshot
- 7.2. Global Luxury Car Rental Market by Booking Mode Type, Performance - Potential Analysis
- 7.3. Global Luxury Car Rental Market Estimates & Forecasts by Booking Mode Type 2019-2029 (USD Billion)
- 7.4. Luxury Car Rental Market, Sub Segment Analysis
- 7.4.1. Online
- 7.4.2. Offline
Chapter 8. Global Luxury Car Rental Market, by End User
- 8.1. Market Snapshot
- 8.2. Global Luxury Car Rental Market by End User, Performance - Potential Analysis
- 8.3. Global Luxury Car Rental Market Estimates & Forecasts by End User 2019-2029 (USD Billion)
- 8.4. Luxury Car Rental Market, Sub Segment Analysis
- 8.4.1. Self-Driven
- 8.4.2. Chauffeur-Driven
Chapter 9. Global Luxury Car Rental Market, by Rental Length
- 9.1. Market Snapshot
- 9.2. Global Luxury Car Rental Market by Rental Length, Performance - Potential Analysis
- 9.3. Global Luxury Car Rental Market Estimates & Forecasts by Rental Length 2019-2029 (USD Billion)
- 9.4. Luxury Car Rental Market, Sub Segment Analysis
- 9.4.1. Short Term
- 9.4.2. Long Term
Chapter 10. Global Luxury Car Rental Market, Regional Analysis
- 10.1. Luxury Car Rental Market, Regional Market Snapshot
- 10.2. North America Luxury Car Rental Market
- 10.2.1. U.S. Luxury Car Rental Market
- 10.2.1.1. Rental Type breakdown estimates & forecasts, 2019-2029
- 10.2.1.2. Booking Mode Type breakdown estimates & forecasts, 2019-2029
- 10.2.1.3. End User breakdown estimates & forecasts, 2019-2029
- 10.2.1.4. Rental Length breakdown estimates & forecasts, 2019-2029
- 10.2.2. Canada Luxury Car Rental Market
- 10.3. Europe Luxury Car Rental Market Snapshot
- 10.3.1. U.K. Luxury Car Rental Market
- 10.3.2. Germany Luxury Car Rental Market
- 10.3.3. France Luxury Car Rental Market
- 10.3.4. Spain Luxury Car Rental Market
- 10.3.5. Italy Luxury Car Rental Market
- 10.3.6. Rest of Europe Luxury Car Rental Market
- 10.4. Asia-Pacific Luxury Car Rental Market Snapshot
- 10.4.1. China Luxury Car Rental Market
- 10.4.2. India Luxury Car Rental Market
- 10.4.3. Japan Luxury Car Rental Market
- 10.4.4. Australia Luxury Car Rental Market
- 10.4.5. South Korea Luxury Car Rental Market
- 10.4.6. Rest of Asia Pacific Luxury Car Rental Market
- 10.5. Latin America Luxury Car Rental Market Snapshot
- 10.5.1. Brazil Luxury Car Rental Market
- 10.5.2. Mexico Luxury Car Rental Market
- 10.5.3. Rest of Latin America Luxury Car Rental Market
- 10.6. Rest of The World Luxury Car Rental Market
Chapter 11. Competitive Intelligence
- 11.1. Top Market Strategies
- 11.2. Company Profiles
- 11.2.1. Avis Budget Group
- 11.2.1.1. Key Information
- 11.2.1.2. Overview
- 11.2.1.3. Financial (Subject to Data Availability)
- 11.2.1.4. Product Summary
- 11.2.1.5. Recent Developments
- 11.2.2. Sixt
- 11.2.3. Enterprise Holdings
- 11.2.4. Movida
- 11.2.5. Hertz
- 11.2.6. Localiza
- 11.2.7. Europcar Mobility Group
- 11.2.8. Car Inc.
- 11.2.9. EHi Car Services
- 11.2.10. Unidas
Chapter 12. Research Process
- 12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
- 12.2. Research Attributes
- 12.3. Research Assumption