Europe Car Rental Service Market Growth Drivers and Forecast by 2027

Historic Data: 2016-2017 | Base Year: 2018 | Forecast Period: 2019-2027

Europe Car Rental Service Market to 2027 - Regional Analysis and Forecasts by Rental Location (Non-Airport, and On Airport & Train Station); Car Category (Mini & Economy, Compact & Intermediate, Standard, Full Size, Premium, Luxury, and Special); Customer Type (B2B and B2C)

Report Date : Dec 2019
Report Code : TIPRE00007758

Category : Automotive and Transportation
Status : Published

Available Report Formats :
No. of Pages : 230

Page Updated: Feb 2025

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The Europe car rental service market is expected to grow from US$ 14.17 Bn in 2018 to US$ 24.00 Bn by the year 2027. This represents a CAGR of 6.2% from the year 2019 to 2027.

The Europe car rental services market is mainly driven by the growing number of car rental services in the region as various established companies are focusing on providing the services to their customers. In addition, the growing spending power of the people and changing lifestyle are also powerful factors that are driving the growth of the Europe car rental service market in the region. Growing tourism activities and constantly rising tourism budget have supported the growth of the car rental services market.

Europe Car Rental Service Market Share by Countries (%)

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Europe Car Rental Service Market - Market Insights

Integration of technology-driven solutions to offer better customer services

Several car rental companies are focusing on offering advanced technology-driven solutions to their customers with intent to offer improved customer service as well as to distinguish their services from those offered by their competitors. In October 2019, Enterprise Holdings introduced Entegral, an integrated software solution capable of simplifying the post-accident process; this product enabled service providers to get customers on their way, back into their cars. Recently, Avis added a split bill function into its app to enable travelers to split rental charges between personal and business credit cards. Hence, such significant growth is expected to offer ample growth opportunities for the Europe car rental service market players during the forecast period of 2019 to 2027.

The emergence of low-cost car rental services

In recent years, the car rental services market has noticed the development of economical offers to fulfill augmented demand for more reasonably priced services. The low-cost services segment comprises all low-price rental offers, including a reduced number of offerings and services along with a narrower choice of brands, categories, and car models. Several well-recognized market players have acquired car rental companies offering services to the customers who are conscious about the rent. For instance, Europcar acquired Goldcar and InterRent, low-cost car rental services providers. Further, it also acquired Fox Rent A Car, a US-based low-cost rental service provider, to gain the US low-cost car rental market share. Hence, such benefits of low-cost car rental services are propelling the growth of the Europe car rental service market.

Europe Car Rental Service Market – Rental Location

A car rental services company rents automobiles for short periods of time for a charge. It is usually organized with several local branches that enable the user to return the vehicle at a different branch and primarily located on airports and or non-airport areas and often complemented by a website enabling online reservations. Today, car rental service companies made available various types of cars such as mini & economy, compact & intermediate, standard, full size, premium, luxury, and special at on-airports, railroad stations, hotels, and other locations. Previously business for car rental was operated on-airport location only. Nonetheless, from the last few years, the car rental service industry is also having non-airport locations as well, which includes outstation, inner-city, countryside, and intercity.

Europe Car Rental Service Market – Customer Type

The market players in the region are continuously focusing on the introduction of low-cost services for rental cars. Various companies hugely prefer online platforms for strengthening their market presence and gaining a wide customer base for car rental services. Additionally, numerous prominent car rental service providers are introducing attractive schemes with reasonable prices, thus strengthening their customer base. To ensure the companies provide the right service to the prospective customer, car rental service providers need to focus on various aspects such as understanding customers, consider their existing customer records such as online and offline customer feedback, and various others.

Europe Car Rental Service Market - Car Category Insights

The growth of car rental services market in Europe is due to the expansion and progression of the travel and tourism industry. Different types of rental cars can be categorized as mini & economy, compact & intermediate, standard, full size, premium, luxury, and special. The car category helps one easily find a rental car that suits their needs. Numerous different car rental agencies provide several types of rental vehicles to serve business or customer’s needs. Companies such as Europcar and others in the region provide a variety of cars suitable for any budget and occasion. Furthermore, rental cars offer a clearer idea of the vehicle class and characteristics. Hence, this helps makes sure that car rental would meet the expectations.

Europe Car Rental Service Market by Car Category

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Europe Car Rental Service Market -

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Europe Car Rental Service Market: Strategic Insights

Europe Car Rental Service Market

Market Size 2018
US$ 14.17 Billion

Market Size 2027
US$ 24.00 Billion

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Regional Overview

Europe

Market Segmentation

Rental Location

Non-Airport
On Airport & Train Station

Car Category

Mini & Economy
Compact & Intermediate
Standard
Full Size
Premium
Luxury
Special

Customer Type

B2B and B2C

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Europe Car Rental Service MarketReport Scope

Europe Car Rental Service Market Report Scope

Report Attribute	Details
Market size in 2018	US$ 14.17 Billion
Market Size by 2027	US$ 24.00 Billion
Global CAGR (2019 - 2027)	6.2%
Historical Data	2016-2017
Forecast period	2019-2027
Segments Covered	By Rental Location Non-Airport On Airport & Train Station By Car Category Mini & Economy Compact & Intermediate Standard Full Size Premium Luxury Special By Customer Type B2B and B2C
Regions and Countries Covered	Europe UK Germany France Russia Italy Rest of Europe
Market leaders and key company profiles	Avis Budget Group, Inc. AB Car Rental Bonaire ALD Automotive Arval BNP Paribas Group DriveNow Europcar Mobility Group S.A. Green Motion International National Car Rental (Enterprise Holdings) Sixt SE

Research Manager

Naveen Chittaragi

Associate Vice President,
Market Research & Consulting

Naveen is an experienced market research and consulting professional with over 9 years of expertise across custom, syndicated, and consulting projects. Currently serving as Associate Vice President, he has successfully managed stakeholders across the project value chain and has authored over 100 research reports and 30+ consulting assignments. His work spans across industrial and government projects, contributing significantly to client success and data-driven decision-making.

Naveen holds an Engineering degree in Electronics & Communication from VTU, Karnataka, and an MBA in Marketing & Operations from Manipal University. He has been an active IEEE member for 9 years, participating in conferences, technical symposiums, and volunteering at both section and regional levels. Prior to his current role, he worked as an Associate Strategic Consultant at IndustryARC and as an Industrial Server Consultant at Hewlett Packard (HP Global).

What are the Europe Car Rental Service Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

Europe Car Rental Service Market Report Snapshots

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