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Brazil Car Rental Market Size, Share, Trends, Analysis: By Booking Type: Offline Access, Online Access; By Application Type: Leisure/Tourism, Business; By Vehicle Type: Luxury/Premium Cars, Economy/Budget Cars, SUVs, MUVs; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Brazil Car Rental Market Outlook
The Brazil car rental market size was valued at USD 2.23 billion in 2023. The market is further projected to grow at a CAGR of 7.8% between 2024 and 2032, reaching a value of USD 4.40 billion by 2032.
Key Takeaways
- The car rental industry in Brazil is experiencing growth, with the 18th Brazil Car Rental Forum marking a historic high in the industry. The event featured over 1,500 attendees and discussions on vehicle rental activities in Brazil and globally.
- As per industry reports, csoncerns about lower emissions have led to an increased demand for car rental options.
- Key players in the market are SIMPAR S.A. (Movida), Enterprise Holdings, Inc., Localiza Rent a Car S/A, Europcar International S.A.S.U., and Avis Rent a Car System LLC.
The Brazilian government is taking initiatives to boost tourism, making it one of the top destinations for both domestic and international travellers. This has led to a rise in demand for car rental services, particularly in major cities and tourist spots. Federal Government has relaxed visa procedures for countries like the United States, Japan, Canada, and Australia, leading to a 25% increase in tourists from these countries.
Secondly, the increasing internet penetration and the availability of high-speed internet at affordable prices have motivated rental players to shift their business models to online platforms. Online booking has become the most popular option for clients, offering real-time monitoring of rental vehicle operation, performance, and maintenance. Thirdly, vehicle rental companies are diversifying their fleet offerings with electric and hybrid models, which has led to Brazil car rental market development.
Moreover, key players like Localiza, Movida, Unidas, Hertz Corporation, and others are expanding their services, investing in fleet management companies, and entering partnerships to strengthen their market presence. For example, Brookfield Asset Management invested in a Brazil-based corporate rental and fleet management company, Kovi invested in expanding car rental services, and CalAmp partnered with Localiza to enhance the car rental experience.
The Brazil car rental market growth can be attributed to the flexibility in rental durations for leisure travellers, along with the focus on corporate mobility. Many platforms offer hourly, daily, or monthly online rental services, catering to travellers who need short-term vehicle rentals at tourist destinations.
The rise in business travel and corporate mobility is also driving demand for car rentals in Brazil. Companies often opt for rental vehicles for their employees, providing cost-effective and flexible transportation solutions for business-related purposes.
Market Segmentation
Brazil 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
- Offline Access
- Online Access
Market Breakup by Application Type
- Leisure/Tourism
- Business
Market Breakup by Vehicle Type
- Luxury/Premium Cars
- Economy/Budget Cars
- SUVs
- MUVs
Market Breakup by Region
- São Paulo
- Minas Gerais
- Rio de Janeiro
- Bahia
- Rio Grande do Sul
Competitive Landscape
Market players are focusing on strategies such as expanding their services, investing in fleet management companies, and entering partnerships to strengthen their market presence.
- SIMPAR S.A. (Movida)
- Enterprise Holdings, Inc.
- Localiza Rent a Car S/A
- Europcar International S.A.S.U.
- Avis Rent a Car System LLC
- UNIDAS LOCADORA SA
- Foco Aluguel De Carros S/A
- 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 by Application Type |
|
| Breakup by Vehicle Type |
|
| 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 Market 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 Latin America Car Rental Market Overview
8.1 Key Industry Highlights
8.2 Latin America Car Rental Historical Market (2018-2023)
8.3 Latin America Car Rental Market Forecast (2024-2032)
9 Brazil Car Rental Market Overview
9.1 Key Industry Highlights
9.2 Brazil Car Rental Historical Market (2018-2023)
9.3 Brazil Car Rental Market Forecast (2024-2032)
10 Brazil Car Rental Market by Booking Type
10.1 Offline Access
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Online Access
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Brazil Car Rental Market by Application Type
11.1 Leisure/Tourism
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Business
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Brazil Car Rental Market by Vehicle Type
12.1 Luxury/Premium Cars
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Economy/Budget Cars
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 SUVs
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 MUVs
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
13 Brazil Car Rental Market by Region
13.1 São Paulo
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Minas Gerais
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Rio de Janeiro
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Bahia
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Rio Grande do Sul
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
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 Buyers Powers
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 SIMPAR S.A. (Movida)
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 Enterprise Holdings, Inc.
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 Localiza Rent a Car S/A
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 Avis Rent a Car System LLC
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 UNIDAS LOCADORA SA
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 Foco Aluguel De Carros S/A
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 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Car Rental Market: Key Industry Highlights, 2018 and 2032
2. Brazil Car Rental Market: Key Industry Highlights, 2018 and 2032
3. Brazil Car Rental Historical Market: Breakup by Booking Type (USD Billion), 2018-2023
4. Brazil Car Rental Market Forecast: Breakup by Booking Type (USD Billion), 2024-2032
5. Brazil Car Rental Historical Market: Breakup by Application Type (USD Billion), 2018-2023
6. Brazil Car Rental Market Forecast: Breakup by Application Type (USD Billion), 2024-2032
7. Brazil Car Rental Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
8. Brazil Car Rental Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
9. Brazil Car Rental Historical Market: Breakup by Region (USD Billion), 2018-2023
10. Brazil Car Rental Market Forecast: Breakup by Region (USD Billion), 2024-2032
11. Brazil Car Rental Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 2.23 billion.
The market is expected to grow at a CAGR of 7.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 4.40 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 government initiatives to boost tourism, increased concern and awareness of lower emissions, shortage of vehicles leading to increased demand for rental vehicles, the adoption of advanced IT platforms to enhance service delivery and rise of online booking platforms.
Regions considered in the market are São Paulo, Minas Gerais, Rio de Janeiro, Bahia, and Rio Grande do Sul.
Different applications of car rentals are leisure/tourism and business.
Based on vehicle type, the market segmentations include Luxury/Premium Cars, Economy/Budget Cars, SUVs, MUVs.
Key players in the market are SIMPAR S.A. (Movida), Enterprise Holdings, Inc., Localiza Rent a Car S/A, Europcar International S.A.S.U., Avis Rent a Car System LLC, UNIDAS LOCADORA SA, and Foco Aluguel De Carros S/A, among others.
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