Who are the key players in Brazil Vehicle Rental Market?

Movida, The Hertz Corporation, Localiza, VIPCars.com and eDreams are the major companies operating in the Brazil Vehicle Rental Market. Read More

What years does this Brazil Vehicle Rental Market cover, and what was the market size in 2023?

In 2023, the Brazil Vehicle Rental Market size was estimated at USD 1.75 billion. The report covers the Brazil Vehicle Rental Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Brazil Vehicle Rental Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Brazil Vehicle Rental Market Size

Market Size of Brazil Vehicle Rental Industry

Study Period	2019 - 2029
Base Year For Estimation	2023
Market Size (2024)	USD 1.9 Billion
Market Size (2029)	USD 3.10 Billion
CAGR (2024 - 2029)	8.00 %
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

Brazil Vehicle Rental Market Analysis

The Brazil Vehicle Rental Market size is estimated at USD 1.9 billion in 2024, and is expected to reach USD 3.10 billion by 2029, growing at a CAGR of 8% during the forecast period (2024-2029).

Over the medium term, with life returning to routine and commencing international travel, Brazil is among the top countries to visit on the tourist list. Owing to the rich cultural heritage and natural scenery of the Amazon forests and beaches, the government is also taking initiatives to boost the country's tourism industry.

The target set in the Brazilian National Tourism Plan was an increase in revenue generated by international tourism of 8.58% in 2023, but the result was an annual growth of 41%.

Additionally, the residents are moving toward rented vehicles rather than buying them because of high vehicle maintenance. These factors are likely to lead to Brazil's vehicle rental market growth during the forecast period.

Increased concern and awareness of lower emissions have increased car rental options. Additionally, vehicle rental also provides the option of increased mobility without the concern of paying the costs associated with car ownership and maintenance.

As a result, the shortage of vehicles led to a deficit between demand and supply, leading to buyers looking for alternative car options. The rental services offered by several companies in the market came across as the best alternative and a viable option for private vehicle owners, leading to increased demand for rental vehicles in Brazil.

Considering the high demand, various new startups and rental companies are also focusing on technological advancements such as the deployment of the all-in-one platform that offers SaaS (Software as a Service), HaaS (Hardware as a Service), and apps to manage transportation demands of companies covering people needs (charter transport, point to point, and car sharing), thus, creating a positive impact on the market.

Brazil Vehicle Rental Industry Segmentation

Vehicle rentals contain a car booked in person, by mobile through the mobile application, or offline. A vehicle rental service is a service that helps customers rent a vehicle for short periods or longer duration. A short period generally ranges from a few hours to a few weeks.

The Brazilian vehicle rental market is segmented by application type, booking type, vehicle type, and end user. By application type, the market is segmented into leisure/tourism, business, and fleet outsourcing. By booking type, the market is segmented into online and offline. By vehicle type, the market is segmented into passenger cars and commercial vehicles. By end user, the market is segmented into fleet operator and tour operator.

The report offers market size and forecasts in value (USD) for all the abovementioned segments.

By Application Type
		Leisure/Tourism
		Business
		Fleet Outsourcing

By Booking Type
		Online
		Offline

By Vehicle Type
		Passenger Cars
		Commercial Vehicles

By End User
		Tour Operator
		Fleet Operator

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Brazil Vehicle Rental Market Size Summary

The Brazil car rental market is poised for significant growth over the forecast period, driven by a resurgence in tourism and a shift in consumer preferences towards rental vehicles. As Brazil emerges as a top tourist destination, bolstered by its rich cultural heritage and natural beauty, the government is actively promoting tourism, which in turn is fueling demand for car rental services. The increasing number of international and domestic travelers, coupled with the rise in smartphone penetration, is encouraging a shift from traditional brick-and-mortar rental agencies to online platforms. This transition is enhancing the convenience and accessibility of car rentals, making them an attractive option for both tourists and residents seeking mobility without the burdens of vehicle ownership.

The market is characterized by technological advancements and strategic collaborations among key players, which are further propelling its expansion. Companies are investing in innovative solutions such as SaaS and HaaS platforms to streamline operations and improve customer experiences. The introduction of electric vehicles and the focus on reducing emissions are also shaping the market dynamics. With major players like Localiza, Movida, and Unidas leading the charge, the market is witnessing a consolidation of efforts to enhance service offerings and expand fleet capabilities. These developments, alongside government investments in tourism infrastructure, are expected to sustain the robust growth trajectory of the car rental industry in Brazil.

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Brazil Vehicle Rental Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Market Drivers
  1. 1.1.1 Increase in Leisure Activities in the Country
2. 1.2 Market Restraints
  1. 1.2.1 Strict Vehicle Emission Regulations
3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis
  1. 1.3.1 Threat of New Entrants
  2. 1.3.2 Bargaining Power of Buyers/Consumers
  3. 1.3.3 Bargaining Power of Suppliers
  4. 1.3.4 Threat of Substitute Products
  5. 1.3.5 Intensity of Competitive Rivalry
2. MARKET SEGMENTATION (Market Size by Value - USD Billion)
1. 2.1 By Application Type
  1. 2.1.1 Leisure/Tourism
  2. 2.1.2 Business
  3. 2.1.3 Fleet Outsourcing
2. 2.2 By Booking Type
  1. 2.2.1 Online
  2. 2.2.2 Offline
3. 2.3 By Vehicle Type
  1. 2.3.1 Passenger Cars
  2. 2.3.2 Commercial Vehicles
4. 2.4 By End User
  1. 2.4.1 Tour Operator
  2. 2.4.2 Fleet Operator