India Car Rental Market Overview
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Growth Rate: 14.5% (2025-2033)
India diverse geographical landscape and growing tourism industry are driving the growth of the car rental market. According to the latest report by IMARC Group, The India car rental market size reached USD 2,742 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 9,287 Million by 2033, exhibiting a growth rate (CAGR) of 14.5% during 2025-2033.
India Car Rental Industry Trends and Drivers:
The India car rental market is changing fast. This change comes from new consumer preferences and technology. One major trend is the rise in self-drive rentals. Millennials and Gen Z prefer these rentals for their flexibility and privacy. Online platforms and mobile apps make booking easy. They offer clear pricing and many vehicle choices. Domestic tourism and weekend trips are boosting rental demand, especially in popular spots. Electric vehicles (EVs) are slowly joining the rental fleet. This aligns with India's goal for sustainable mobility. Subscription-based car rental models are also becoming popular. They provide a cost-effective choice compared to traditional car ownership. The market is seeing smaller companies merge and larger ones expand. They aim to meet the growing demand and enhance service quality.
The corporate sector is a key driver of the car rental market. Many businesses choose rental services for employee transport, client visits, and events. Advanced technologies like GPS tracking and AI customer support boost efficiency and satisfaction. After the pandemic, safety and hygiene became crucial. Rental companies now follow strict sanitization protocols and offer contactless services. Another trend is the rise of airport and railway station rentals. These services meet travelers' needs for easy transport upon arrival. The market is getting more competitive. Companies are adding value with services like 24/7 roadside assistance, flexible rental durations, and custom packages to attract customers. Urbanization and better road infrastructure are also helping the car rental market grow in India.
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India Car Rental Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Booking Type:
Offline Booking
Online Booking
Breakup by Rental Length:
Short Term
Long Term
Breakup by Vehicle Type:
Luxury
Executive
Economy
SUVs
Others
Breakup by Application:
Leisure/Tourism
Business
Breakup by End-User:
Self-Driven
Chauffeur-Driven
Breakup by Region:
South India
North India
West & Central India
East India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
Market Performance (2019-2024)
Market Outlook (2025-2033)
COVID-19 Impact on the Market
Porter’s Five Forces Analysis
Strategic Recommendations
Historical, Current and Future Market Trends
Market Drivers and Success Factors
SWOT Analysis
Structure of the Market
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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