Car Rental Industry

Esimated Revenue

The global revenue in the 'Car Rentals' segment of the shared mobility market was forecast to continuously increase between 2024 and 2028 by in total 13.5 billion U.S. dollars (+13.12 percent). After the eighth consecutive increasing year, the indicator is estimated to reach 116 billion U.S. dollars and therefore a new peak in 2028.

The global number of users in the 'Car Rentals' segment of the shared mobility market was forecast to continuously increase between 2024 and 2028 by in total 77.9 million users (+13.75 percent). After the eighth consecutive increasing year, the indicator is estimated to reach 644.4 million users and therefore a new peak in 2028.

Emburse

The data in the Emburse Business Travel Index represents 150,000 individual transactions made by travel management companies using Emburse’s expense management platform for business travel expenses. It reflects the months of April, May, and June collectively (Q2) for the years 2019, 2020, 2021, 2022, and 2023. . Aside from international flights (which originated in the U.S.) all transactions were for U.S. domestic travel.

Q2 2023

Car Rental

• 
  In Q1 2023, car rentals for business trips increased by 36% over Q2 2022 and by 25% over Q1 2023. Car rental durations averaged 5.2 days per trip, reflecting a 5% drop over the same quarter last year.
• Despite the drop in duration, spend on car rentals for business trips was up significantly this quarter. In total, companies spent 224% more on car rental booking over Q2 2022 and 172% more over Q1 2023.
• The average rental was $105.75 per day, which is 150% higher than the same quarter last year and 80% higher than Q1 2023.

Hotel

• In Q2 2023, business travelers averaged 4.18 nights per hotel stay. This reflects a 3% decrease in trip length over the same quarter in 2022 and a 3% decrease in trip length compared to Q1 2023.
• The number of hotel reservations is up 50% over Q2 2022 and 15% over the previous quarter.
• The average nightly spend on hotels for business trips was $157.01, compared to $152.38 in Q2 2022. Spend on reservations overall was 50% higher than the previous year and 27% higher than Q1 2023.

Air Travel

• In Q2 2023, domestic flight transactions saw a 30% increase over the same quarter in 2022 and a 12% increase over Q1 2023. Companies also spent 22% more on domestic air travel in Q2 2023 than in Q2 2022 and 14% more than in Q1 2023.
• International travel bookings saw an 86% increase over the same quarter of 2022 and an 18% increase from Q1 2023. Similarly, spend on international flights is up 92% over Q2 2022 and 46% over Q1 2023.