India Car Rental Market Report and Forecast 2025-2034
Description
The India car rental market was valued at USD 2.75 Billion in 2024. The industry is expected to grow at a CAGR of 12.60% during the forecast period of 2025-2034 to attain a valuation of USD 9.01 Billion by 2034.
India Car Rental Market Growth
The boost in the India car rental market comes from SUVs as a leading choice among customers seeking versatility and spaciousness.
Economy/budget car rentals are tailored for budget-conscious individuals seeking practical transportation solutions for everyday or short-distance travel. These options offer fuel-efficient vehicles with essential amenities, providing reliable and economical choices for students, families, or those on a tight budget. They prioritize affordability and easy access. They have modest features but provide essential convenience for everyday travel needs.
In February 2024, Savaari Car Rentals Private Limited and MakeMyTrip, an Indian online travel company, forged a partnership to expand the road travel network. MakeMyTrip had acquired a majority stake in Savaari Car Rentals, initiating the company's transformative venture into the unorganized and fragmented inter-city cab rental market. This strategic move was anticipated to facilitate the company's penetration into previously untouched regions of the country, particularly tier 2 and tier 3 cities.
SUV rentals appeal to customers seeking outdoor adventures, versatility, and spaciousness in their rental cars. These rentals offer cargo space, comfortable seating, and diverse models that are suited for numerous travel scenarios and terrains. Ideal for various travel scenarios, SUVs provide reliability, performance, and flexibility in rental experiences.
India Car Rental Market Segmentation
India Car Rental Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Booking Type
Offline
Online
Market Breakup by Rental Length Type
Short-Term
Long-Term
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
North India
East and Central India
West India
South India
India Car Rental Market Share
Leisure and tourism lead the India car rental market since travellers rent cars to explore tourist destinations, go on road trips and visit historical sites. Car rental companies let tourists pace out their travel plans with flexibility, convenience, and autonomy. In the domestic region car rental companies offer leisure travellers many options like SUVs, MUVs, and budget cars to choose from.
Leading Players in the India Car Rental Market
The car rental industry in India adopts online platforms, self-drive choices, electric vehicle integration, AI technology, customer-focused services, corporate rentals, regional expansion, partnerships, safety protocols, and regulatory adjustments, highlighting its evolving dynamics and robust growth.
Avia Budget Group Inc.
ORIX Corporation (MyChoize)
Eco Mobility
Myles Automotive Technologies Private Limited
ANI Technologies Private Limited (Ola)
Carzonrent India Private Limited
Zoom Cars Ltd.
Pluto Travels India Pvt. Ltd.
DriveEazy India Private Limited
Girnar Software Private Limited
Others
Mergers, acquisitions, and rising investment in technological innovation and digital infrastructure help major market players expand their outreach.
India Car Rental Market Growth
The boost in the India car rental market comes from SUVs as a leading choice among customers seeking versatility and spaciousness.
Economy/budget car rentals are tailored for budget-conscious individuals seeking practical transportation solutions for everyday or short-distance travel. These options offer fuel-efficient vehicles with essential amenities, providing reliable and economical choices for students, families, or those on a tight budget. They prioritize affordability and easy access. They have modest features but provide essential convenience for everyday travel needs.
In February 2024, Savaari Car Rentals Private Limited and MakeMyTrip, an Indian online travel company, forged a partnership to expand the road travel network. MakeMyTrip had acquired a majority stake in Savaari Car Rentals, initiating the company's transformative venture into the unorganized and fragmented inter-city cab rental market. This strategic move was anticipated to facilitate the company's penetration into previously untouched regions of the country, particularly tier 2 and tier 3 cities.
SUV rentals appeal to customers seeking outdoor adventures, versatility, and spaciousness in their rental cars. These rentals offer cargo space, comfortable seating, and diverse models that are suited for numerous travel scenarios and terrains. Ideal for various travel scenarios, SUVs provide reliability, performance, and flexibility in rental experiences.
India Car Rental Market Segmentation
India Car Rental Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Booking Type
Offline
Online
Market Breakup by Rental Length Type
Short-Term
Long-Term
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
North India
East and Central India
West India
South India
India Car Rental Market Share
Leisure and tourism lead the India car rental market since travellers rent cars to explore tourist destinations, go on road trips and visit historical sites. Car rental companies let tourists pace out their travel plans with flexibility, convenience, and autonomy. In the domestic region car rental companies offer leisure travellers many options like SUVs, MUVs, and budget cars to choose from.
Leading Players in the India Car Rental Market
The car rental industry in India adopts online platforms, self-drive choices, electric vehicle integration, AI technology, customer-focused services, corporate rentals, regional expansion, partnerships, safety protocols, and regulatory adjustments, highlighting its evolving dynamics and robust growth.
Avia Budget Group Inc.
ORIX Corporation (MyChoize)
Eco Mobility
Myles Automotive Technologies Private Limited
ANI Technologies Private Limited (Ola)
Carzonrent India Private Limited
Zoom Cars Ltd.
Pluto Travels India Pvt. Ltd.
DriveEazy India Private Limited
Girnar Software Private Limited
Others
Mergers, acquisitions, and rising investment in technological innovation and digital infrastructure help major market players expand their outreach.
Table of Contents
89 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Asia Pacific Car Rental Market Overview
- 5.1 Key Industry Highlights
- 5.2 Asia Pacific Car Rental Historical Market (2018-2024)
- 5.3 Asia Pacific Car Rental Market Forecast (2025-2034)
- 6 India Car Rental Market Analysis
- 6.1 Key Industry Highlights
- 6.2 India Car Rental Historical Market (2018-2024)
- 6.3 India Car Rental Market Forecast (2025-2034)
- 7 India Car Rental Market by Booking Type
- 7.1 Offline
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Online
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 8 India Car Rental Market by Rental Length Type
- 8.1 Short-Term
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Long-Term
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 9 India Car Rental Market by Application Type
- 9.1 Leisure/Tourism
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Business
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 10 India Car Rental Market by Vehicle Type
- 10.1 Luxury/Premium Cars
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 Economy/Budget Cars
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 10.3 SUVs
- 10.3.1 Historical Trend (2018-2024)
- 10.3.2 Forecast Trend (2025-2034)
- 10.4 MUVs
- 10.4.1 Historical Trend (2018-2024)
- 10.4.2 Forecast Trend (2025-2034)
- 11 India Car Rental Market by Region
- 11.1 North India
- 11.1.1 Historical Trend (2018-2024)
- 11.1.2 Forecast Trend (2025-2034)
- 11.2 East and Central India
- 11.2.1 Historical Trend (2018-2024)
- 11.2.2 Forecast Trend (2025-2034)
- 11.3 West India
- 11.3.1 Historical Trend (2018-2024)
- 11.3.2 Forecast Trend (2025-2034)
- 11.4 South India
- 11.4.1 Historical Trend (2018-2024)
- 11.4.2 Forecast Trend (2025-2034)
- 12 Market Dynamics
- 12.1 SWOT Analysis
- 12.1.1 Strengths
- 12.1.2 Weaknesses
- 12.1.3 Opportunities
- 12.1.4 Threats
- 12.2 Porter’s Five Forces Analysis
- 12.2.1 Supplier’s Power
- 12.2.2 Buyers Powers
- 12.2.3 Threat of New Entrants
- 12.2.4 Degree of Rivalry
- 12.2.5 Threat of Substitutes
- 12.3 Key Indicators for Demand
- 12.4 Key Indicators for Price
- 13 Competitive Landscape
- 13.1 Supplier Selection
- 13.2 Key Global Players
- 13.3 Key Regional Players
- 13.4 Key Player Strategies
- 13.5 Company Profiles
- 13.5.1 Avia Budget Group Inc.
- 13.5.1.1 Company Overview
- 13.5.1.2 Product Portfolio
- 13.5.1.3 Demographic Reach and Achievements
- 13.5.1.4 Certifications
- 13.5.2 ORIX Corporation (MyChoize)
- 13.5.2.1 Company Overview
- 13.5.2.2 Product Portfolio
- 13.5.2.3 Demographic Reach and Achievements
- 13.5.2.4 Certifications
- 13.5.3 Eco Mobility
- 13.5.3.1 Company Overview
- 13.5.3.2 Product Portfolio
- 13.5.3.3 Demographic Reach and Achievements
- 13.5.3.4 Certifications
- 13.5.4 Myles Automotive Technologies Private Limited
- 13.5.4.1 Company Overview
- 13.5.4.2 Product Portfolio
- 13.5.4.3 Demographic Reach and Achievements
- 13.5.4.4 Certifications
- 13.5.5 ANI Technologies Private Limited (Ola)
- 13.5.5.1 Company Overview
- 13.5.5.2 Product Portfolio
- 13.5.5.3 Demographic Reach and Achievements
- 13.5.5.4 Certifications
- 13.5.6 Carzonrent India Private Limited
- 13.5.6.1 Company Overview
- 13.5.6.2 Product Portfolio
- 13.5.6.3 Demographic Reach and Achievements
- 13.5.6.4 Certifications
- 13.5.7 Zoom Cars Ltd.
- 13.5.7.1 Company Overview
- 13.5.7.2 Product Portfolio
- 13.5.7.3 Demographic Reach and Achievements
- 13.5.7.4 Certifications
- 13.5.8 Pluto Travels India Pvt. Ltd.
- 13.5.8.1 Company Overview
- 13.5.8.2 Product Portfolio
- 13.5.8.3 Demographic Reach and Achievements
- 13.5.8.4 Certifications
- 13.5.9 DriveEazy India Private Limited
- 13.5.9.1 Company Overview
- 13.5.9.2 Product Portfolio
- 13.5.9.3 Demographic Reach and Achievements
- 13.5.9.4 Certifications
- 13.5.10 Girnar Software Private Limited
- 13.5.10.1 Company Overview
- 13.5.10.2 Product Portfolio
- 13.5.10.3 Demographic Reach and Achievements
- 13.5.10.4 Certifications
- 13.5.11 Others
Pricing
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