The European vehicle rental market is anticipated to register a CAGR of about 6.23%, during the forecast period (2019 – 2024). One of the major factors driving the growth of the passenger car rental market is the growth in the tourism industry (resulting in an increase in the number of tourists visiting the region per month) and growing business opportunities in the region. The intensity of competition is high, while the market is consolidated, dominated by major players, like Avis Budget, Enterprise, Europcar, Hertz, and Sixt.
But lots of new startups are coming up in this segment as there are still gaps to be filled. At the same time, the market in the region has undergone a lot of mergers and acquisitions, the latest one is by a Dutch startup EasyTerra.