How big is the Philippines Car Rental Market?

The Philippines Car Rental Market size is expected to reach USD 633.49 million in 2024 and grow at a CAGR of 7.70% to reach USD 917.95 million by 2029. Read More

What is the current Philippines Car Rental Market size?

In 2024, the Philippines Car Rental Market size is expected to reach USD 633.49 million. Read More

Who are the key players in Philippines Car Rental Market?

Enterprise Holdings, Inc., Avis Rent A Car LLC, Thrifty Car Rental, Europcar Mobility Group and LXV Cars LLC are the major companies operating in the Philippines Car Rental Market. Read More

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

In 2023, the Philippines Car Rental Market size was estimated at USD 584.71 million. The report covers the Philippines Car Rental Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Philippines Car Rental Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Philippines Car Rental Market Size & Share Analysis - Industry Research Report

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

The Philippines Car Rental Market Report is Segmented by Booking Type (Offline and Online), Rental Duration Type (Short Term and Long Term), Vehicle Type (Hatchbacks, Sedans, Sports Utility Vehicles, and Multi-Purpose Vehicles), and Application Type (Tourism and Commuting). The Report Offers Market Size and Forecast for all the Above Segments in Value (in USD).

Philippines Car Rental Industry Overview

Key players such as Thrifty Car Rental, Enterprise Rent A Car LLC, and Europcar dominate the Philippine car rental market. To maintain an edge over their competitors, these leading rental companies are seeking funding to meet the market's growing demands. For instance:

In August 2023, LXV Cars partnered with Louis Vuitton for a three-year car lease contract for a Mercedes Benz GLB 200, representing the changing dynamics of corporate transportation. Through this partnership, LXV Cars expanded its luxury car fleet.
In March 2023, BPI Century Tokyo Lease and Finance Corp. (BPICT), through its subsidiary BPI Century Tokyo Rental Corp. (BPICTR), acquired one of the largest car rental companies in the Philippines, Diamond Rent-a-Car. Through this acquisition, the company improved BPICTR's core business by adding car rental, maintenance and repair, fleet management BPO, and 24-hour service to meet diverse demand and enhance service quality.