Latest News- Vehicle Rental Market in Europe: Offline is expected to lead the Distribution Channel segment during 2025-2029

The Vehicle Rental Market in Europe is being driven by Growing awareness about rental cars among European people

The Vehicle Rental Market in Europe is expected to grow at a CAGR of 8.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 21.46 billion. In the European vehicle rental market, technology plays a pivotal role in enhancing customer convenience. Operators are focusing on streamlining membership processes to ensure swift vehicle availability. Digital platforms, such as mobile apps and websites, are the primary channels for conducting business. These mediums facilitate communication of fares, promotional offers, discount coupons, and real-time vehicle availability and tracking details. Furthermore, rental companies heavily rely on digital advertisement and continually update their mobile applications to incorporate additional customer-friendly features, such as program widgets, to provide targeted and timely information. 

Get more information on Vehicle Rental Market in Europe by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Distribution Channel
  • Offline
  • Online
• Type
  • Short term
  • Long term
• Geography
  • Europe
    • Germany
    • UK
    • France
    • Italy

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing awareness about rental cars among European people
• Increasing demand for rental vehicles due to stringent regulations for emissions from personal vehicles
• Rising popularity of road trips and outdoor adventures

However, the market also witnesses some limitations, which are as follows:

• Rising number of car-sharing services
• High cost of self-drive car rental
• Inadequate consumer awareness about RV rentals and price fluctuations of crude oil

Benefits of Buying Global Vehicle Rental Market in Europe Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Vehicle Rental Market in Europe Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The European vehicle rental market caters to both business and leisure travellers, offering a range of automobiles through both online and offline channels. Rental Car services provide personal vehicles for global commuters and tourists, with insurance compensation policies and car damage repair ensuring peace of mind. Entertainment systems, internet booking applications, and car rental software enhance the customer experience. Car rental operators serve various segments, including bleisure and leisure travel, airport transport, local usage, and the upper middle-class group. Urbanization and internet penetration drive growth in this market, with demand for economy and executive cars at airports and city centers.

Market Research Overview

The European vehicle rental market encompasses the provision of automobiles through both online and offline channels. Rental car services cater to the needs of travellers seeking temporary personal vehicle usage. Technavio projects growth in this sector, driven by the increasing trend of outsourcing vehicle maintenance and repair services. Damage repair and insurance compensation policies are crucial aspects of the rental experience, with entertainment systems and global positioning systems adding value. Diversified support services providers offer essential functions, including equipment repair, industrial maintenance, and transaction services, enhancing the overall rental experience.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/