Luxury Car Rental Market Size, Trends and Insights By Drive Type (Self-driven, Chauffeur-driven), By Booking Type (Online Booking, Offline Booking), By Rental Duration (Short-term, Long-term), By Vehicle Type (Hatchback, Sedan, Sport Utility Vehicles, Multi-purpose Vehicles), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Avis Prestige
- Europcar
- Enterprise Holdings Inc.
- Budget Rent A Car System Inc.
- Paddock Rent a Car
- Others
Reports Description
As per the current market research conducted by the CMI Team, the global Luxury Car Rental Market is expected to record a CAGR of 9.5% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 32.9 Billion. By 2033, the valuation is anticipated to reach USD 78.1 Billion.
Luxury car rental is defined as a service that provides premium vehicles for short and long duration. The different types of vehicle styles included in the services such as Hatchback, Sedan, SUV and MPV with several brands like BMW, Audi, Jaguar and many others. These services cater to individuals or businesses seeking a unique driving experience for special purposes such as business events, marriage, vacations and others.
The luxury car rental market is being driven by several factors which include the rising disposable income, growing travel and tourism sector, increasing number of business and corporate events, changing consumer preference, growth in online rental platforms, increasing globalization and urbanization, technological advancements and the emergence of many start-ups in the sector. However, the high rental cost and economic uncertainty might be a major restraining factor for the luxury car rental market.
- As per the analysis by Euromonitor International, the disposable income of the world’s population is projected to increase by 2.6%.
- According to the Bureau of Economic Analysis, personal income increased by USD 50.5 billion in the US.
- According to the global tourism body’s 2024 Economic Impact Research (EIR), travel & tourism will contribute an additional $770BN over its previous record, stamping its authority as a global economic powerhouse, generating one in every 10 dollars worldwide.
Luxury Car Rental Market: Growth Factors
Rising urbanization and mobility solution
The increasing demand for flexible and easy mobility solutions, like renting a car, is growing at a rapid rate since urbanization is increasing at a massive scale on a global level. More people opt for on-demand and short-term mobility solutions due to the changing mobility patterns as a result of city living. The rental car services meet the changing demands of the population living in the city who choose economical solutions for mobility without worries about owning a car. Additionally, traffic jams, parking shortages and environmental concerns an important factors for market penetration. Furthermore, the convenience of rental services and the availability of a wide variety of fleets further influence the market growth.
Increasing travel and tourism
The growing travel and tourism sector across the globe is a major market driver. The growing demand for short-term mobility solutions to provide easy and autonomous travel experiences is increasing as more people visit several locations.
Travelers who rent cars have the freedom to see the world and explore the place where public transit doesn’t reach. Furthermore, the globalization of these rental services is being aided by the growing popularity of international travel. Additionally, the convenience of hiring a car across the globe drives the luxury car rental sector.
Luxury Car Rental Market: Recent Development
The luxury car rental industry adopted several strategies which include product launches, acquisitions, collaboration, expansion and others. Some of the company strategies include:
- In January 2023, Hertz and Uber Technologies Inc. announced plans to provide up to 25,000 electric vehicles (EVs) for rental to Uber drivers in Europe by 2025. The rental agreement will include vehicles from reputable manufacturers such as Polestar and Tesla. The rollout began in January 2023 in London with Hertz, which plans to add over 10,000 EVs by 2025, allowing Uber drivers to hire them for ride-hailing services.
- In February 2023, Sixt Luxury Cars opened a new rental car branch for passengers arriving at Toronto Pearson International Airport (YYZ), providing premium rental cars to Canada’s largest metropolis. It now serves two Canadian markets, Vancouver and Toronto, and is working to expand its coverage across the country.
These product launches and collaboration strategies have expanded the market presence of the company in the luxury car rental industry and gained its competitive edge.
COMPARATIVE ANALYSIS OF THE RELATED MARKET
| Luxury Car Rental Market | Postal Services Market | In Plant Logistics Market |
| CAGR 9.5% (Approx) | CAGR 1.5% (Approx) | CAGR 9.4% (Approx) |
| USD 78.1 Billion by 2033 | USD 301.2 Billion by 2033 | USD 35,024.8 Million by 2033 |
Luxury Car Rental Market: Challenge
High rental cost
High rental rates are a major constraint in the luxury car rental sector, restricting its potential customer base and posing issues for both consumers and rental agencies. Luxury vehicles such as Lamborghini, Ferrari, Rolls-Royce, and high-end versions from Mercedes-Benz and BMW are primarily expensive to buy. Rental firms must invest considerably in acquiring these vehicles, which raises rental prices to pay expenditures.
Furthermore, luxury automobiles necessitate specialized and ongoing maintenance, which includes high-quality parts and qualified technicians. Regular maintenance, combined with high repair expenses, adds to the overall cost, which is passed on to the consumer through higher rental prices. Thereby, the high rental cost of luxury vehicles hampering the market growth.
Luxury Car Rental Market: Segmentation Analysis
By Drive Type:
The chauffeur-driven segment is expected to dominate the market. The segment expansion is attributed to the increasing demand for convenience and premium experiences. Customers in the premium market are increasingly choosing chauffeur-driven automobiles for the convenience, comfort, and distinction they provide.
High-net-worth individuals, executives, and VIPs frequently use these services to escape the stress of driving, allowing them to unwind, work, or entertain visitors while traveling.
Besides, the self-driven segment growing at a rapid rate. This segment’s clients value independence and the freedom to travel at their leisure without a chauffeur. They frequently desire the luxury and comfort of high-end automobiles while keeping privacy and personal space, which is especially appealing to tourists, business travelers, and road trip lovers.
By Booking Type:
The offline booking segment captures a prominent market share in the luxury car rental industry because the offline mode of booking involves direct, personalized interactions between the customer and the rental company. Moreover, many luxury car rental companies collaborate with luxury hotels, resorts, and travel agencies to offer offline booking options for their customer.
Besides, the online booking segment shows a rapid expansion. The growth in the segment is attributable to its convenience.
By Vehicle Type:
The sport utility vehicles segment captures a prominent market share in the luxury car rental industry. Luxury SUVs combine performance, off-road prowess, and large interiors, making them a popular choice for both business and leisure consumers. Their ability to comfortably transport many passengers and provide substantial baggage space makes them appealing, particularly to families, groups, and tourists who demand more than regular sedans or sports vehicles.
Besides, the multi-purpose vehicles segment shows a rapid expansion. The segment expansion is attributed to the high demand for space and comfort as Luxury MPVs are recognized for their spacious interiors, making them excellent for customers traveling with families, groups, or a lot of luggage. These cars have many rows of seating, so up to seven or eight passengers can travel comfortably.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 32.9 Billion |
| Projected Market Size in 2033 | USD 78.1 Billion |
| Market Size in 2023 | USD 31.5 Billion |
| CAGR Growth Rate | 9.5% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Drive Type, Booking Type, Rental Duration, Vehicle Type and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Luxury Car Rental Market: Regional Analysis
North America dominates the luxury car rental market. The growth in the region is attributed to the presence of major players and the growing disposable income. Furthermore, the increasing collaboration with car manufacturers and rental service agencies influences market growth. Also, the rising adoption of EVs is a prominent factor driving the industry expansion over the projected period.
However, the Asia Pacific is growing at a significant pace in the global luxury car rental industry owing to the increasing travel and tourism sector.
List of the prominent players in the Luxury Car Rental Market:
- Avis Prestige
- Europcar
- Enterprise Holdings Inc.
- Budget Rent A Car System Inc.
- Paddock Rent a Car
- Auto Europe
- DTG Operations, Inc. (Thrifty Car Rental)
- Hertz Dream Collection
- Red Fox Luxury Lifestyle Ltd.
- Sixt Luxury Cars
- Others
The Luxury Car Rental Market is segmented as follows:
By Drive Type
- Self-driven
- Chauffeur-driven
By Booking Type
- Online Booking
- Offline Booking
By Rental Duration
- Short-term
- Long-term
By Vehicle Type
- Hatchback
- Sedan
- Sport Utility Vehicles
- Multi-purpose Vehicles
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Luxury Car Rental Market, (2024 – 2033) (USD Billion)
- 2.2 Global Luxury Car Rental Market : snapshot
- Chapter 3. Global Luxury Car Rental Market – Industry Analysis
- 3.1 Luxury Car Rental Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Rising urbanization and mobility solution
- 3.2.2 Increasing travel and tourism
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Drive Type
- 3.7.2 Market attractiveness analysis By Booking Type
- 3.7.3 Market attractiveness analysis By Rental Duration
- 3.7.4 Market attractiveness analysis By Vehicle Type
- Chapter 4. Global Luxury Car Rental Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Luxury Car Rental Market: company market share, 2023
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Luxury Car Rental Market – Drive Type Analysis
- 5.1 Global Luxury Car Rental Market overview: By Drive Type
- 5.1.1 Global Luxury Car Rental Market share, By Drive Type, 2023 and 2033
- 5.2 Self-driven
- 5.2.1 Global Luxury Car Rental Market by Self-driven, 2024 – 2033 (USD Billion)
- 5.3 Chauffeur-driven
- 5.3.1 Global Luxury Car Rental Market by Chauffeur-driven, 2024 – 2033 (USD Billion)
- 5.1 Global Luxury Car Rental Market overview: By Drive Type
- Chapter 6. Global Luxury Car Rental Market – Booking Type Analysis
- 6.1 Global Luxury Car Rental Market overview: By Booking Type
- 6.1.1 Global Luxury Car Rental Market share, By Booking Type, 2023 and 2033
- 6.2 Online Booking
- 6.2.1 Global Luxury Car Rental Market by Online Booking, 2024 – 2033 (USD Billion)
- 6.3 Offline Booking
- 6.3.1 Global Luxury Car Rental Market by Offline Booking, 2024 – 2033 (USD Billion)
- 6.1 Global Luxury Car Rental Market overview: By Booking Type
- Chapter 7. Global Luxury Car Rental Market – Rental Duration Analysis
- 7.1 Global Luxury Car Rental Market overview: By Rental Duration
- 7.1.1 Global Luxury Car Rental Market share, By Rental Duration, 2023 and 2033
- 7.2 Short-term
- 7.2.1 Global Luxury Car Rental Market by Short-term, 2024 – 2033 (USD Billion)
- 7.3 Long-term
- 7.3.1 Global Luxury Car Rental Market by Long-term, 2024 – 2033 (USD Billion)
- 7.1 Global Luxury Car Rental Market overview: By Rental Duration
- Chapter 8. Global Luxury Car Rental Market – Vehicle Type Analysis
- 8.1 Global Luxury Car Rental Market overview: By Vehicle Type
- 8.1.1 Global Luxury Car Rental Market share, By Vehicle Type, 2023 and 2033
- 8.2 Hatchback
- 8.2.1 Global Luxury Car Rental Market by Hatchback, 2024 – 2033 (USD Billion)
- 8.3 Sedan
- 8.3.1 Global Luxury Car Rental Market by Sedan, 2024 – 2033 (USD Billion)
- 8.4 Sport Utility Vehicles
- 8.4.1 Global Luxury Car Rental Market by Sport Utility Vehicles, 2024 – 2033 (USD Billion)
- 8.5 Multi-purpose Vehicles
- 8.5.1 Global Luxury Car Rental Market by Multi-purpose Vehicles, 2024 – 2033 (USD Billion)
- 8.1 Global Luxury Car Rental Market overview: By Vehicle Type
- Chapter 9. Luxury Car Rentals Market – Regional Analysis
- 9.1 Global Luxury Car Rentals Market Regional Overview
- 9.2 Global Luxury Car Rentals Market Share, by Region, 2023 & 2033 (USD Billion)
- 9.3. North America
- 9.3.1 North America Luxury Car Rentals Market, 2024 – 2033 (USD Billion)
- 9.3.1.1 North America Luxury Car Rentals Market, by Country, 2024 – 2033 (USD Billion)
- 9.3.1 North America Luxury Car Rentals Market, 2024 – 2033 (USD Billion)
- 9.4 North America Luxury Car Rentals Market, by Drive Type, 2024 – 2033
- 9.4.1 North America Luxury Car Rentals Market, by Drive Type, 2024 – 2033 (USD Billion)
- 9.5 North America Luxury Car Rentals Market, by Booking Type, 2024 – 2033
- 9.5.1 North America Luxury Car Rentals Market, by Booking Type, 2024 – 2033 (USD Billion)
- 9.6 North America Luxury Car Rentals Market, by Rentals Duration, 2024 – 2033
- 9.6.1 North America Luxury Car Rentals Market, by Rentals Duration, 2024 – 2033 (USD Billion)
- 9.7 North America Luxury Car Rentals Market, by Vehicle Type, 2024 – 2033
- 9.7.1 North America Luxury Car Rentals Market, by Vehicle Type, 2024 – 2033 (USD Billion)
- 9.8. Europe
- 9.8.1 Europe Luxury Car Rentals Market, 2024 – 2033 (USD Billion)
- 9.8.1.1 Europe Luxury Car Rentals Market, by Country, 2024 – 2033 (USD Billion)
- 9.8.1 Europe Luxury Car Rentals Market, 2024 – 2033 (USD Billion)
- 9.9 Europe Luxury Car Rentals Market, by Drive Type, 2024 – 2033
- 9.9.1 Europe Luxury Car Rentals Market, by Drive Type, 2024 – 2033 (USD Billion)
- 9.10 Europe Luxury Car Rentals Market, by Booking Type, 2024 – 2033
- 9.10.1 Europe Luxury Car Rentals Market, by Booking Type, 2024 – 2033 (USD Billion)
- 9.11 Europe Luxury Car Rentals Market, by Rentals Duration, 2024 – 2033
- 9.11.1 Europe Luxury Car Rentals Market, by Rentals Duration, 2024 – 2033 (USD Billion)
- 9.12 Europe Luxury Car Rentals Market, by Vehicle Type, 2024 – 2033
- 9.12.1 Europe Luxury Car Rentals Market, by Vehicle Type, 2024 – 2033 (USD Billion)
- 9.13. Asia Pacific
- 9.13.1 Asia Pacific Luxury Car Rentals Market, 2024 – 2033 (USD Billion)
- 9.13.1.1 Asia Pacific Luxury Car Rentals Market, by Country, 2024 – 2033 (USD Billion)
- 9.13.1 Asia Pacific Luxury Car Rentals Market, 2024 – 2033 (USD Billion)
- 9.14 Asia Pacific Luxury Car Rentals Market, by Drive Type, 2024 – 2033
- 9.14.1 Asia Pacific Luxury Car Rentals Market, by Drive Type, 2024 – 2033 (USD Billion)
- 9.15 Asia Pacific Luxury Car Rentals Market, by Booking Type, 2024 – 2033
- 9.15.1 Asia Pacific Luxury Car Rentals Market, by Booking Type, 2024 – 2033 (USD Billion)
- 9.16 Asia Pacific Luxury Car Rentals Market, by Rentals Duration, 2024 – 2033
- 9.16.1 Asia Pacific Luxury Car Rentals Market, by Rentals Duration, 2024 – 2033 (USD Billion)
- 9.17 Asia Pacific Luxury Car Rentals Market, by Vehicle Type, 2024 – 2033
- 9.17.1 Asia Pacific Luxury Car Rentals Market, by Vehicle Type, 2024 – 2033 (USD Billion)
- 9.18. Latin America
- 9.18.1 Latin America Luxury Car Rentals Market, 2024 – 2033 (USD Billion)
- 9.18.1.1 Latin America Luxury Car Rentals Market, by Country, 2024 – 2033 (USD Billion)
- 9.18.1 Latin America Luxury Car Rentals Market, 2024 – 2033 (USD Billion)
- 9.19 Latin America Luxury Car Rentals Market, by Drive Type, 2024 – 2033
- 9.19.1 Latin America Luxury Car Rentals Market, by Drive Type, 2024 – 2033 (USD Billion)
- 9.20 Latin America Luxury Car Rentals Market, by Booking Type, 2024 – 2033
- 9.20.1 Latin America Luxury Car Rentals Market, by Booking Type, 2024 – 2033 (USD Billion)
- 9.21 Latin America Luxury Car Rentals Market, by Rentals Duration, 2024 – 2033
- 9.21.1 Latin America Luxury Car Rentals Market, by Rentals Duration, 2024 – 2033 (USD Billion)
- 9.22 Latin America Luxury Car Rentals Market, by Vehicle Type, 2024 – 2033
- 9.22.1 Latin America Luxury Car Rentals Market, by Vehicle Type, 2024 – 2033 (USD Billion)
- 9.23. The Middle-East and Africa
- 9.23.1 The Middle-East and Africa Luxury Car Rentals Market, 2024 – 2033 (USD Billion)
- 9.23.1.1 The Middle-East and Africa Luxury Car Rentals Market, by Country, 2024 – 2033 (USD Billion)
- 9.23.1 The Middle-East and Africa Luxury Car Rentals Market, 2024 – 2033 (USD Billion)
- 9.24 The Middle-East and Africa Luxury Car Rentals Market, by Drive Type, 2024 – 2033
- 9.24.1 The Middle-East and Africa Luxury Car Rentals Market, by Drive Type, 2024 – 2033 (USD Billion)
- 9.25 The Middle-East and Africa Luxury Car Rentals Market, by Booking Type, 2024 – 2033
- 9.25.1 The Middle-East and Africa Luxury Car Rentals Market, by Booking Type, 2024 – 2033 (USD Billion)
- 9.26 The Middle-East and Africa Luxury Car Rentals Market, by Rentals Duration, 2024 – 2033
- 9.26.1 The Middle-East and Africa Luxury Car Rentals Market, by Rentals Duration, 2024 – 2033 (USD Billion)
- 9.27 The Middle-East and Africa Luxury Car Rentals Market, by Vehicle Type, 2024 – 2033
- 9.27.1 The Middle-East and Africa Luxury Car Rentals Market, by Vehicle Type, 2024 – 2033 (USD Billion)
- Chapter 10. Company Profiles
- 10.1 Avis Prestige
- 10.1.1 Overview
- 10.1.2 Financials
- 10.1.3 Product Portfolio
- 10.1.4 Business Strategy
- 10.1.5 Recent Developments
- 10.2 Europcar
- 10.2.1 Overview
- 10.2.2 Financials
- 10.2.3 Product Portfolio
- 10.2.4 Business Strategy
- 10.2.5 Recent Developments
- 10.3 Enterprise Holdings Inc.
- 10.3.1 Overview
- 10.3.2 Financials
- 10.3.3 Product Portfolio
- 10.3.4 Business Strategy
- 10.3.5 Recent Developments
- 10.4 Budget Rent A Car System Inc.
- 10.4.1 Overview
- 10.4.2 Financials
- 10.4.3 Product Portfolio
- 10.4.4 Business Strategy
- 10.4.5 Recent Developments
- 10.5 Paddock Rent a Car
- 10.5.1 Overview
- 10.5.2 Financials
- 10.5.3 Product Portfolio
- 10.5.4 Business Strategy
- 10.5.5 Recent Developments
- 10.6 Auto Europe
- 10.6.1 Overview
- 10.6.2 Financials
- 10.6.3 Product Portfolio
- 10.6.4 Business Strategy
- 10.6.5 Recent Developments
- 10.7 DTG Operations Inc. (Thrifty Car Rental)
- 10.7.1 Overview
- 10.7.2 Financials
- 10.7.3 Product Portfolio
- 10.7.4 Business Strategy
- 10.7.5 Recent Developments
- 10.8 Sixt Luxury Cars
- 10.8.1 Overview
- 10.8.2 Financials
- 10.8.3 Product Portfolio
- 10.8.4 Business Strategy
- 10.8.5 Recent Developments
- 10.9 Hertz Dream Collection
- 10.9.1 Overview
- 10.9.2 Financials
- 10.9.3 Product Portfolio
- 10.9.4 Business Strategy
- 10.9.5 Recent Developments
- 10.10 Red Fox Luxury Lifestyle Ltd.
- 10.10.1 Overview
- 10.10.2 Financials
- 10.10.3 Product Portfolio
- 10.10.4 Business Strategy
- 10.10.5 Recent Developments
- 10.11 Others
- 10.11.1 Overview
- 10.11.2 Financials
- 10.11.3 Product Portfolio
- 10.11.4 Business Strategy
- 10.11.5 Recent Developments
- 10.1 Avis Prestige
List Of Figures
Figures No 1 to 28
List Of Tables
Tables No 1 to 102
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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FAQs
The key factors driving the Market are Rising urbanization and mobility solution, Increasing travel and tourism.
The “Self-driven” category dominated the market in 2023.
The key players in the market are Avis Prestige, Europcar, Enterprise Holdings Inc., Budget Rent A Car System Inc., Paddock Rent a Car, Auto Europe, DTG Operations, Inc. (Thrifty Car Rental), Hertz Dream Collection, Red Fox Luxury Lifestyle Ltd., Sixt Luxury Cars, Others.
“North America” had the largest share in the Luxury Car Rental Market.
The global market is projected to grow at a CAGR of 9.5% during the forecast period, 2024-2033.
The Luxury Car Rental Market size was valued at USD 32.9 Billion in 2024.