$3.4bn
$XXX.Xm
11,767
3,101
$XXX.Xm
The Passenger Car Rental and Hiring industry has performed poorly in recent years after reeling back from COVID-19 disruptions. The pandemic significantly restricted international and domestic movement, leading to far less traffic through capital city airports and reduced general spending on car rentals because of lockdowns. Despite this, recent rising levels of short-term car renting, the growing popularity of innovative car-sharing services and steady government demand for fleet leasing have acted to combat the slump. Revenue is expected to climb by 0.5% in the current year, reaching $3.4 billion. This constitutes an annualised 2.5% drop over the five years through 2023-24.
Industry revenue has declined at a CAGR of 2.5 % over the past five years, to reach an estimated $3.4bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
Hertz | 561.5 | |
FleetPartners | 429.3 | |
Europcar | 328.4 |
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Industry revenue is measured across several distinct product and services lines, including Short-term car rental, Long-term car rental and Operating vehicle leasing. Short-term car rental is the largest segment of the Passenger Car Rental and Hiring in Australia.
Economic uncertainties have weighed on operating vehicle leasing
Industry firms lease, hire or rent out passenger cars without drivers. Passenger cars include sedans, hatchbacks, station wagons, SUVs and minibuses. Novated leasing is not included in the industry.
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ANZSIC 6611 - Passenger Car Rental and Hiring in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
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Including values and annual change:
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Key data sources in Australia include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Passenger Car Rental and Hiring industry in Australia is $3.4bn in 2024.
There are 3,101 businesses in the Passenger Car Rental and Hiring industry in Australia, which has grown at a CAGR of 8.8 % between 2018 and 2023.
The market size of the Passenger Car Rental and Hiring industry in Australia has been declining at a CAGR of 2.5 % between 2018 and 2023.
Over the next five years, the Passenger Car Rental and Hiring industry in Australia is expected to grow.
The biggest companies operating in the Passenger Car Rental and Hiring market in Australia are Hertz, FleetPartners and Europcar
Short-term car rental and Long-term car rental are part of the Passenger Car Rental and Hiring industry.
The company holding the most market share in Australia is Hertz.
The level of competition is moderate and increasing in the Passenger Car Rental and Hiring industry in Australia.