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Vietnam Car Rental Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Size in 2024: USD 335.6 Million

Market Forecast in 2033:USD 942.7 Million

Market Growth Rate (2025-33): 12.16%

Vietnam car rental market size reached USD 335.6 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 942.7 Million by 2033, exhibiting a growth rate (CAGR) of 12.16% during 2025-2033. The significant growth in the tourism sector, increasing corporate activities, rapid technological advancements, favorable government policies, rising competitive pricing strategies, growing environmental considerations, and increasing customization of services represent some of the key factors driving the market.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/vietnam-car-rental-market/requestsample

Vietnam Car Rental Market Trends and Drivers:

Market Drivers and Expansion Trends

• Tourism and Urbanization Fuel Growth: Increasing international tourist arrivals and urban population growth are propelling demand for car rentals.

• Rising Middle Class & Disposable Incomes: More domestic consumers now have the means and inclination to explore flexible mobility solutions.

• Fleet Diversification: Providers are offering SUVs, MPVs, and hybrid vehicles to meet diverse use cases—from vacations to executive travel.

• Beyond Airport Services: Rentals are no longer just for airport pickups—they are now part of the larger travel and urban mobility ecosystem.

• Competitive Landscape Intensifies: Both local and international companies are investing to expand reach and enhance service offerings.

Technology-Driven Transformation

• Digital Booking Platforms & Apps: Seamless customer journeys enabled through online browsing, booking, and digital payments.

• Contactless Rentals & Post-COVID Shifts: Increased preference for low-touch experiences is accelerating digital adoption.

• Fleet Management Optimization: Real-time tracking, GPS, and maintenance software improve efficiency, safety, and profitability.

• Advanced In-Car Features: ADAS and telematics integration enhance driving safety and user satisfaction.

• Customer-Centric Innovations: Technology is enabling a new benchmark in service delivery and consumer expectations.

Future Outlook and Strategic Opportunities

• Corporate Leasing Surge: Businesses are increasingly adopting long-term rental and chauffeur services to reduce fleet ownership costs.

• Self-Drive & Adventure Travel: Growing demand among locals and tourists for intercity autonomy supported by improved infrastructure.

• Subscription & Mobility-as-a-Service Models: Exploration of flexible, ownership-free alternatives to traditional rental or lease models.

• Electric Vehicle (EV) Integration: Rising sustainability focus and expected policy support are encouraging EV adoption within rental fleets.

• Partnership Ecosystem: Collaborations with ride-hailing platforms and mobility tech firms will unlock new revenue channels.

Vietnam Car Rental Market Industry Segmentation:

Booking Type Insights:

• Online
• Offline

Rental Duration Insights:

• Short-Term
• Long-Term

Application Type Insights:

• Tourism
• Commuting

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Ask Our Expert & Browse Full Report with TOC & List of Figure: https://www.imarcgroup.com/request?type=report&id=15050&flag=C

Key highlights of the Report:

• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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