Global Tourism Vehicle Rental Market Size, Share & Trends Analysis Report by Vehicle Type (Economy, and Luxury/Premium), by Booking Mode (Online and Offline), and by End-User (Self Driven, and Rental Agencies) Forecast Period (2022-2028) The global tourism vehicle rental market is anticipated to grow at a substantial CAGR of 8.1% during the forecast period. The primary factor fueling the market growth includes the rising affordability and low cost of traveling. With such high growth in the tourism market, traveling across the globe has been becoming more and more affordable. Tours and traveling companies are high contributing to such development for competing with opponents. For instance, in July 2022, Go First, a low-cost carrier, offered a special monsoon discount with fares opening as cheap as $19.5 for the travel period till March 31, 2023. The offer is available across all tickets, and channels during the sales period will be available on a first come-first basis. The proposal is limited to domestic travel. The global tourism vehicle rental market is segmented based on vehicle type, booking mode, and end-user. Based on the vehicle type, the market is segmented into economy and luxury/premium. Based on the booking mode, the market is sub-segmented into online, and offline. Based on the end-user, the market is sub-segmented into self-driven, and rental agencies. Among the vehicle type, the luxury vehicles segment is anticipated to grow at the fastest rate in the market during the forecast period owing to increased travel budgets of tourists across the globe. The rising demand for luxury cars has been reflected in the sales of luxury vehicles, recently. For instance, as per the data from the Federation of Automobile Dealers Associations, around 24,009 luxury cars sold in India from April 2021 to March 2022, increased by 45% from the year-ago period. Meanwhile, retail sales of the overall auto industry grew by 14.24%. Geographically, the global tourism vehicle rental market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific is anticipated to grow at the fastest rate in the market during the forecast period owing to the rising population coupled with issues related to transportation in the region. Tourism vehicle rental service is highly useful in regional countries such as India, Australia, Cambodia, Japan, China, and others. Market Players are also highly active to gain benefits from the increasing growth. For instance, in December 2021, Zoom car, an India-based company, introduced a vehicle host program that enabled individual vehicle holders for listing their cars on Zoom car and earns an income share on each rental booking. The major companies serving the global tourism vehicle rental market include Avis Budget Group, Inc., Enterprise Holdings, Inc., Europcar International S.A.S.U., SIXT SE, The Hertz Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2020, the SIXT SE Company's 42% stake was acquired by Hyundai Capital Services for nearly $170 Million. Research Methodology The market study of the global tourism vehicle rental market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports. Secondary Sources Include • Financial reports of companies involved in the market. • Whitepapers, research papers, and news blogs. • Company websites and their product catalog. The report provides an in-depth analysis of the market size and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models. Market Segmentation 1. Global Tourism Vehicle Rental Market Research and Analysis by Vehicle Type. 2. Global Tourism Vehicle Rental Market Research and Analysis by Booking Mode. 3. Global Tourism Vehicle Rental Market Research and Analysis by End-User. The Report Covers • Comprehensive research methodology of the global tourism vehicle rental market. • This report also includes a detailed and extensive market overview with key analyst insights. • An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations. • Analysis of regional regulations and other government policies impacting the global tourism vehicle rental market. • Insights about market determinants that are stimulating the global tourism vehicle rental market. • Detailed and extensive market segments with the regional distribution of forecasted revenues. • Extensive profiles and recent developments of market players.