- The car rental market is experiencing significant growth, driven by the rising need for cost-effective personal mobility, increased tourism, and the widespread adoption of digital booking platforms and mobile applications
- The surge in environmental awareness is prompting rental companies to expand electric and hybrid vehicle fleets, while flexible subscription models and corporate rental solutions are catering to changing consumer preferences
- North America dominates the car rental market due to a well-established tourism industry, advanced digital infrastructure, and the strong presence of key market players offering innovative rental services
- For instance, in the U.S., companies such as Enterprise Holdings and Hertz are expanding their EV fleets and introducing AI-based vehicle tracking for enhanced customer experience
- Asia-Pacific is projected to register the highest CAGR, fueled by rapid urbanization, rising disposable incomes, and increasing government investments in smart mobility and transportation infrastructure
- Emerging trends such as contactless rentals, shared mobility services, and partnerships with ride-hailing platforms are reshaping the car rental landscape, offering both convenience and scalability to meet future transportation demands
