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Australia Car Rental Market Size, Share, Trends, Forecast: By Booking Type: Online Booking, Offline Booking; By Vehicle Type: Luxury/Premium Cars, Economy/Budget Cars, SUVs, MUVs; By Application: Leisure/Tourism, Business; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Australia Car Rental Market Outlook
The Australia car rental market size was valued at USD 3.62 billion in 2023. The market is further projected to grow at a CAGR of 2.2% between 2024 and 2032, reaching a value of USD 4.43 billion by 2032.
Key Takeaways
- As the tourism sector expands, there is a corresponding rise in demand for car rental services, particularly as tourists seek vehicles for sightseeing.
- The Australian government has implemented favourable measures to bolster the tourism industry. For instance, the “THRIVE 2030” long-term national strategy aims to enhance tourism activities and achieve a visitor economy value of AUD 230 billion by 2031.
- As per industry reports, notable players in the market include Avis Rent a Car System LLC, The Hertz Corporation, Europcar International S.A.S.U., and Alpha Car Hire Trading Pty Ltd.
The increasing demand for car-sharing services, the adoption of advanced IT platforms to enhance service delivery, and the impact of traffic congestion have all contributed to the Australia car rental market growth.
The surge in international and domestic tourism in Australia, fuelled by attractions like the Great Barrier Reef and Sydney Opera House, is boosting the demand for car rentals. For example, the influx of tourists exploring the Outback, or the Great Ocean Road is driving the need for rental vehicles.
Companies like Redspot Car Rentals and East Coast Car Rentals are witnessing a significant shift towards online bookings due to the rise of platforms like Rentalcars.com and Kayak, offering seamless online reservation experiences. The transparency of online booking systems allows customers to compare rates, check service offerings, and experience better convenience.
Moreover, partnership between Europcar and Accor, where Accor hotel guests can access exclusive car rental deals with Europcar is positively impacting the Australia car rental market development as such collaborations enhance customer loyalty, provide integrated travel solutions, and drive business growth for the companies involved.
Companies like GoGet and Flexicar are expanding their services to include car-sharing and ride-hailing options alongside traditional car rentals. This diversification caters to changing consumer preferences for shared mobility solutions, reflecting a broader trend towards sustainable and flexible transportation choices in the market.
Companies like Hertz offer luxury car rentals such as BMWs and Mercedes-Benz models, targeting affluent travellers seeking a premium driving experience. Companies like Thrifty and Budget Car Rental, such as compact cars like Toyota Corolla or Hyundai Accent, provide reliable transportation at affordable rates, making them popular for everyday use or short trips. Avis and Enterprise Rent-A-Car offer a range of SUVs like Toyota RAV4 and Ford Escape, which are favoured by families, outdoor enthusiasts, and travellers needing extra cargo space.
Market Segmentation
Australia Car Rental Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Booking Type
- Online Booking
- Offline Booking
Market Breakup by Vehicle Type
- Luxury/Premium Cars
- Economy/Budget Cars
- SUVs
- MUVs
Market Breakup by Application
- Leisure/Tourism
- Business
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
Competitive Landscape
Market players are increasingly providing car-rental services, upgrading their IT platforms, and diversifying their portfolios to stay ahead in the competition.
- Budget Rent a Car System Inc
- Avis Rent a Car System LLC
- The Hertz Corporation
- Europcar International S.A.S.U.
- Alpha Car Hire Trading Pty Ltd.
- Acorn Rentals
- Enterprise Holdings, Inc.
- Sixt SE
- East Coast Car Rentals
- JUCY GROUP Limited
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Booking Type |
|
| Breakup byVehicle Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Car Rental Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Car Rental Historical Market (2018-2023)
8.3 Asia Pacific Car Rental Market Forecast (2024-2032)
9 Australia Car Rental Market Overview
9.1 Key Industry Highlights
9.2 Australia Car Rental Historical Market (2018-2023)
9.3 Australia Car Rental Market Forecast (2024-2032)
10 Australia Car Rental Market by Booking Type
10.1 Online Booking
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Offline Booking
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Australia Car Rental Market by Vehicle Type
11.1 Luxury/Premium Cars
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Economy/Budget Cars
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 SUVs
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 MUVs
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
12 Australia Car Rental Market by Application
12.1 Leisure/Tourism
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Business
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 Australia Car Rental Market by Region
13.1 New South Wales
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Victoria
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Queensland
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Australian Capital Territory
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Western Australia
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Budget Rent a Car System Inc,
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Avis Rent a Car System LLC
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 The Hertz Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Europcar International S.A.S.U.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Alpha Car Hire Trading Pty Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Acorn Rentals
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Enterprise Holdings, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Sixt SE
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 East Coast Car Rentals
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 JUCY GROUP Limited
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Car Rental Market: Key Industry Highlights, 2018 and 2032
2. Australia Car Rental Market: Key Industry Highlights, 2018 and 2032
3. Australia Car Rental Historical Market: Breakup by Booking Type (USD Billion), 2018-2023
4. Australia Car Rental Market Forecast: Breakup by Booking Type (USD Billion), 2024-2032
5. Australia Car Rental Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
6. Australia Car Rental Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
7. Australia Car Rental Historical Market: Breakup by Application (USD Billion), 2018-2023
8. Australia Car Rental Market Forecast: Breakup by Application (USD Billion), 2024-2032
9. Australia Car Rental Historical Market: Breakup by Region (USD Billion), 2018-2023
10. Australia Car Rental Market Forecast: Breakup by Region (USD Billion), 2024-2032
11. Australia Car Rental Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 3.62 billion.
The market is expected to grow at a CAGR of 2.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 4.43 billion by 2032.
The market is being driven due to growth in tourism, the influx of business travellers, and the impact of traffic congestion.
Key trends aiding the market expansion include the increasing demand for car-sharing services, the adoption of advanced IT platforms to enhance service delivery and rise of online booking platforms.
Regions considered in the market are New South Wales, Victoria, Queensland, Western Australia, and Australian Capital Territory, among others.
Different applications of car rental are leisure/tourism and business.
Based on vehicle type, the market segmentations include luxury/premium cars, economy/budget cars, SUVs, and MUVs.
Online and offline booking are considered in the report.
Key players in the market include Budget Rent a Car System Inc, Avis Rent a Car System LLC, The Hertz Corporation, Europcar International S.A.S.U., Alpha Car Hire Trading Pty Ltd., Acorn Rentals, Enterprise Holdings, Inc., Sixt SE, East Coast Car Rentals, and JUCY GROUP Limited, among others.
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