Vietnam Car Rental Market Report and Forecast 2025-2034
Description
The Vietnam car rental market was valued at USD 781.20 Million in 2024. The industry is expected to grow at a CAGR of 14.00% during the forecast period of 2025-2034 to attain a valuation of USD 2896.08 Million by 2034.
Vietnam Car Rental Market Growth
The boost in the Vietnam car rental market is mostly driven by SUVs.
Economy/budget car rentals cater mostly to cost-conscious clients seeking practical transportation solutions for everyday use or short-term trips. For families, students or individuals seeking budget-friendly options budget car rentals serve as dependable and cost-effective solutions. These services provide economical options featuring fuel-efficient vehicles equipped with essential amenities.
In April 2024, Lotte Rental Co., one of South Korea's top car rental companies, announced the launch of its Vietnam Driver-inclusive Rental Car service within the domestic region. This service enabled customers to travel between airports and accommodations in rental cars with chauffeurs included. The service was introduced in Hanoi, Ho Chi Minh, and Da Nang, where the company had branch offices.
Individuals seeking outdoor adventures, versatility, and spaciousness in their rental cars find SUV rentals appealing. The SUV range in the car rental space has a wide array of models suitable for different travel scenarios and terrains, and they offer ample cargo space and comfortable seating. SUVs can also be considered an ideal choice for individuals seeking to travel for both business travel and leisure since they promise reliability, performance, and flexibility.
Vietnam Car Rental Market Segmentation
Vietnam 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
Vietnam Car Rental Market Share
Mobile applications and third-party websites along with company websites and other online methods for booking are leading growth in the car rental market in Vietnam. Websites and applications offer a personalised touch to the booking experience along with on-the-go convenience.
Leading Companies in the Vietnam Car Rental Market
The car rental market in Vietnam is propelled by rising demand, tourism growth, urbanization, technological advancements, short-term rentals, diverse vehicle options, corporate usage, environmental consciousness, regulatory shifts, and heightened competition and consolidation.
Avis Budget Group Inc.
Enterprise Holdings, Inc.
Hertz Global Holdings, Inc.
Grab Holdings Limited
PT GoTo Gojek Tokopedia Tbk
Mai Linh Group
Vietnam Trust Car Rental Company
Vinasun Corp.
Others
Mergers, acquisitions, and rising investment in sustainable practices and technological advancements in the industry help major market players expand their outreach.
Vietnam Car Rental Market Growth
The boost in the Vietnam car rental market is mostly driven by SUVs.
Economy/budget car rentals cater mostly to cost-conscious clients seeking practical transportation solutions for everyday use or short-term trips. For families, students or individuals seeking budget-friendly options budget car rentals serve as dependable and cost-effective solutions. These services provide economical options featuring fuel-efficient vehicles equipped with essential amenities.
In April 2024, Lotte Rental Co., one of South Korea's top car rental companies, announced the launch of its Vietnam Driver-inclusive Rental Car service within the domestic region. This service enabled customers to travel between airports and accommodations in rental cars with chauffeurs included. The service was introduced in Hanoi, Ho Chi Minh, and Da Nang, where the company had branch offices.
Individuals seeking outdoor adventures, versatility, and spaciousness in their rental cars find SUV rentals appealing. The SUV range in the car rental space has a wide array of models suitable for different travel scenarios and terrains, and they offer ample cargo space and comfortable seating. SUVs can also be considered an ideal choice for individuals seeking to travel for both business travel and leisure since they promise reliability, performance, and flexibility.
Vietnam Car Rental Market Segmentation
Vietnam 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
Vietnam Car Rental Market Share
Mobile applications and third-party websites along with company websites and other online methods for booking are leading growth in the car rental market in Vietnam. Websites and applications offer a personalised touch to the booking experience along with on-the-go convenience.
Leading Companies in the Vietnam Car Rental Market
The car rental market in Vietnam is propelled by rising demand, tourism growth, urbanization, technological advancements, short-term rentals, diverse vehicle options, corporate usage, environmental consciousness, regulatory shifts, and heightened competition and consolidation.
Avis Budget Group Inc.
Enterprise Holdings, Inc.
Hertz Global Holdings, Inc.
Grab Holdings Limited
PT GoTo Gojek Tokopedia Tbk
Mai Linh Group
Vietnam Trust Car Rental Company
Vinasun Corp.
Others
Mergers, acquisitions, and rising investment in sustainable practices and technological advancements in the industry help major market players expand their outreach.
Table of Contents
133 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 Vietnam Car Rental Market Overview
- 6.1 Key Industry Highlights
- 6.2 Vietnam Car Rental Historical Market (2018-2024)
- 6.3 Vietnam Car Rental Market Forecast (2025-2034)
- 7 Vietnam 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 Vietnam 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 Vietnam 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 Vietnam 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 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators for Demand
- 11.4 Key Indicators for Price
- 12 Competitive Landscape
- 12.1 Supplier Selection
- 12.2 Key Global Players
- 12.3 Key Regional Players
- 12.4 Key Player Strategies
- 12.5 Company Profiles
- 12.5.1 Avis Budget Group Inc.
- 12.5.1.1 Company Overview
- 12.5.1.2 Product Portfolio
- 12.5.1.3 Demographic Reach and Achievements
- 12.5.1.4 Certifications
- 12.5.2 Enterprise Holdings Inc.
- 12.5.2.1 Company Overview
- 12.5.2.2 Product Portfolio
- 12.5.2.3 Demographic Reach and Achievements
- 12.5.2.4 Certifications
- 12.5.3 Hertz Global Holdings, Inc.
- 12.5.3.1 Company Overview
- 12.5.3.2 Product Portfolio
- 12.5.3.3 Demographic Reach and Achievements
- 12.5.3.4 Certifications
- 12.5.4 Grab Holdings Limited
- 12.5.4.1 Company Overview
- 12.5.4.2 Product Portfolio
- 12.5.4.3 Demographic Reach and Achievements
- 12.5.4.4 Certifications
- 12.5.5 PT GoTo Gojek Tokopedia Tbk
- 12.5.5.1 Company Overview
- 12.5.5.2 Product Portfolio
- 12.5.5.3 Demographic Reach and Achievements
- 12.5.5.4 Certifications
- 12.5.6 Mai Linh Group
- 12.5.6.1 Company Overview
- 12.5.6.2 Product Portfolio
- 12.5.6.3 Demographic Reach and Achievements
- 12.5.6.4 Certifications
- 12.5.7 Vietnam Trust Car Rental Company
- 12.5.7.1 Company Overview
- 12.5.7.2 Product Portfolio
- 12.5.7.3 Demographic Reach and Achievements
- 12.5.7.4 Certifications
- 12.5.8 Vinasun Corp.
- 12.5.8.1 Company Overview
- 12.5.8.2 Product Portfolio
- 12.5.8.3 Demographic Reach and Achievements
- 12.5.8.4 Certifications
- 12.5.9 Others
Pricing
Currency Rates
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