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Russia Car Rental Market Size (2024 - 2029)

The car rental market in Russia is experiencing changes in its market size due to various factors, including the impact of the COVID-19 pandemic and the Russia-Ukraine war. These events have influenced the demand for car rental services, as travel restrictions and increased vehicle costs have shifted consumer preferences. The rise in digitization and online services is also contributing to the market's expansion. Additionally, growing environmental concerns are driving more individuals towards car rentals, offering them flexibility and reduced ownership costs.

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Market Size of Russia Car Rental Industry

Russia Car Rental Market
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 8.00 %
Market Concentration High

Major Players

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*Disclaimer: Major Players sorted in no particular order

Russia Car Rental Market Analysis

The Russia Car Rental Market was valued at USD 1.63 Billion in 2021 and is projected to grow to USD 2.41 Billion by 2027, registering a CAGR of 8% in terms of revenue during the forecast period (2022-2027).

The COVID-19 pandemic has restricted the growth of the market. Travel restrictions and strict lockdowns across the country have witnessed a major downfall in car rental revenue which is around 50% less as compared to 2019. The war between Russia and Ukraine also increase the cost of new cars which creates an opportunity for car rental services across the country.

over the medium term, The Russia-Ukraine war has halted OEM production and surge in vehicle prices across the country, which in turn is likely to enhance the demand for car rental services. The rise in the number of visitors across the country is likely to increase the car rental services across the country. Growing digitization across the country witnessing major growth for online car rental services.

Increased concern and awareness of lower emissions have primarily led to an increase in car rental options. Additionally, vehicle rental also provides the option of increased mobility, without the concern of paying the costs associated with car ownership.

Russia Car Rental Industry Segmentation

Car rental services allow users to hire a car for a certain period of time generally for a few hours to a few weeks. The car rental service allows users to book a car through the internet or mobile application.

Russia Car Rental Service is segmented by booking type, application, rental length, and car type. Based on the booking type, the market is segmented into Online Booking and Offline Booking. Based on the Application, the market is segmented into Leisure/Tourism and Business.

Based on the Rental Length, the market is segmented into Short Term and Long Term. Based on the car type, the market is segmented into Hatchback, Sedan, and Utility Vehicle. For each segment, market sizing and forecast have been done on the basis of value (USD Billion).  

By Booking Type
Online Booking
Offline Booking
By Car Type
Hatchback
Sedan
SUV
By Rental Length
Short Term
Long Term
By Application
Leisure/Tourism
Business
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Russia Car Rental Market Size Summary

The car rental market in Russia is experiencing a transformative phase, driven by various socio-economic factors and technological advancements. The market, moderately consolidated with key players like Europcar, Avis, Hertz, and Delimobil, is witnessing a shift towards digitalization and online booking platforms. The impact of the COVID-19 pandemic and geopolitical tensions, such as the Russia-Ukraine war, have influenced market dynamics by increasing vehicle prices and altering consumer behavior. These challenges have simultaneously created opportunities for car rental services, as they offer flexible mobility solutions without the burdens of vehicle ownership. The rise in smartphone usage has further propelled the growth of online car rental services, enabling features like real-time vehicle tracking and IoT integrations, which enhance user experience and operational efficiency.

The market is also seeing a growing demand for short-term rentals and subscription-based services, catering to the preferences for in-city travels and flexible rental durations. Companies are launching innovative subscription models and flexible plans to attract a broader customer base, offering convenience and cost-effectiveness. The introduction of services like SberAutoSubscription and the expansion of platforms such as Yandex Drive highlight the industry's shift towards more adaptable and user-friendly solutions. As the market continues to evolve, these developments are expected to drive significant growth, with car rental services becoming an increasingly popular alternative to traditional car ownership in Russia.

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Russia Car Rental Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    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. 2. MARKET SEGMENTATION (Market Size by Value (USD Billion)

    1. 2.1 By Booking Type

      1. 2.1.1 Online Booking

      2. 2.1.2 Offline Booking

    2. 2.2 By Car Type

      1. 2.2.1 Hatchback

      2. 2.2.2 Sedan

      3. 2.2.3 SUV

    3. 2.3 By Rental Length

      1. 2.3.1 Short Term

      2. 2.3.2 Long Term

    4. 2.4 By Application

      1. 2.4.1 Leisure/Tourism

      2. 2.4.2 Business

Russia Car Rental Market Size FAQs

The Russia Car Rental Market is projected to register a CAGR of 8% during the forecast period (2024-2029)

Europcar, Delimobil, Avis, Naprokar.Ru and The Hertz Corporation are the major companies operating in the Russia Car Rental Market.

Car Rentals Market in Russia Report Snapshots

Car Rental Market in Russia Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)