Key Insights
The Vietnam car hire market, valued at approximately $XX million in 2025, is experiencing robust growth, projected to expand at a Compound Annual Growth Rate (CAGR) of 13.82% from 2025 to 2033. This expansion is fueled by several key factors. The burgeoning tourism sector in Vietnam, attracting millions of international and domestic visitors annually, significantly contributes to the demand for rental vehicles. Furthermore, the increasing urbanization and a growing middle class with higher disposable incomes are driving the adoption of car rentals for both leisure and business purposes. Improved infrastructure, including expanding road networks and airports, further facilitates the market's growth. The market is segmented by booking type (online and offline), rental duration (short-term and long-term), and application type (tourism and commuting). Online bookings are witnessing a rapid uptake, driven by technological advancements and the convenience offered by online platforms. Short-term rentals dominate the market, largely catering to tourists, while long-term rentals are growing steadily, driven by business travelers and expats. The competitive landscape is characterized by a mix of international players like Avis Budget Group and Hertz, and local companies such as Vina Rent A Car, Mai Linh Group, and Vinasun, indicating a dynamic market with opportunities for both established and emerging players.
Vietnam Car Hire Industry Market Size (In Million)
The market's growth trajectory, however, is not without challenges. Potential restraints include traffic congestion in major cities, particularly in Ho Chi Minh City and Hanoi, which can impact the overall rental experience. Furthermore, the availability of affordable and reliable public transportation options in some areas might pose a competitive challenge. Despite these constraints, the positive outlook for tourism, economic growth, and infrastructure development suggests that the Vietnam car hire market will continue its upward trend in the forecast period. Strategic partnerships, technological innovations in fleet management and booking systems, and a focus on customer service will be key success factors for companies operating within this dynamic and expanding market.
Vietnam Car Hire Industry Company Market Share
Vietnam Car Hire Industry: A Comprehensive Market Report (2019-2033)
This in-depth report provides a comprehensive analysis of the Vietnam car hire industry, covering market structure, competitive dynamics, key trends, and future growth prospects from 2019 to 2033. The study period encompasses the historical period (2019-2024), the base year (2025), and the forecast period (2025-2033), offering a complete understanding of the industry's evolution and future trajectory. The report's analysis incorporates numerous high-ranking keywords, including "Vietnam car rental market," "Vietnam car hire industry," "online car rental Vietnam," "short-term car rental Vietnam," and "Vietnam car sharing," to ensure maximum search engine visibility and relevance for industry professionals. With a projected market size exceeding xx Million USD by 2033, this report is an invaluable resource for businesses, investors, and policymakers seeking insights into this rapidly evolving market.
Vietnam Car Hire Industry Market Structure & Competitive Dynamics
The Vietnam car hire industry exhibits a moderately concentrated market structure with both established international players and domestic companies vying for market share. Key players include Vina(Vietnam) Rent A Car, Avis Budget Group, Enterprise Holdings, Mai Linh Group, Hertz Corporation, Vietnam Sun Corporation (Vinasun), PT Gojek, and Grab Holdings Inc. However, the market also supports numerous smaller, independent operators. The industry is witnessing significant innovation, particularly in the realm of online booking platforms and mobile applications. Regulatory frameworks, while evolving, generally support industry growth, although licensing and operational compliance requirements need continuous attention. Product substitutes, such as ride-hailing services, present a moderate competitive challenge, particularly for short-term rentals. End-user trends reflect an increasing preference for online bookings and convenient, transparent pricing models. M&A activities remain relatively limited but are expected to increase as larger players consolidate market share. The estimated M&A deal value over the study period is predicted to be around xx Million USD.
- Market Concentration: Moderately concentrated, with both domestic and international players.
- Innovation: Strong innovation in online booking, mobile apps, and insurance integration.
- Regulatory Framework: Supportive but evolving, with ongoing compliance requirements.
- Product Substitutes: Ride-hailing services pose a moderate competitive threat.
- End-User Trends: Growing preference for online bookings and transparent pricing.
- M&A Activities: Relatively limited historically, but potential for future growth.
Vietnam Car Hire Industry Industry Trends & Insights
The Vietnam car hire industry is experiencing robust growth, driven by several factors. The burgeoning tourism sector fuels demand for short-term rentals, while increasing urbanization and business travel contribute to long-term rentals. The Compound Annual Growth Rate (CAGR) for the industry during the forecast period (2025-2033) is estimated to be xx%. Technological disruptions, such as the adoption of online booking platforms and mobile applications, are transforming consumer behavior and industry operations. Consumers increasingly seek convenient online booking, transparent pricing, and enhanced customer service. Competitive dynamics are characterized by price competition, service differentiation, and an expansion of car types and rental options. Market penetration of online car rental services is rapidly increasing, with an estimated xx% of total rentals completed online in 2025.
Dominant Markets & Segments in Vietnam Car Hire Industry
The analysis reveals the following dominant market segments within the Vietnam car hire industry:
- Booking Type: Online bookings are rapidly gaining popularity due to their convenience and ease of access, surpassing offline booking in 2025.
- Rental Duration: Short-term rentals dominate the market, fueled primarily by the tourism sector and shorter business trips.
- Application Type: Tourism-related rentals form the largest segment, with a significant share of total rentals. However, the commuting segment is rapidly growing due to increasing urbanization and traffic congestion.
Key Drivers for Dominance:
- Economic Policies: Government support for tourism and infrastructure development significantly contributes to the growth of the car rental industry.
- Infrastructure: Improved road networks and airport accessibility enhance the convenience and appeal of car rental services.
- Technological Advancements: Online booking platforms and mobile apps streamline the rental process and increase accessibility.
Vietnam Car Hire Industry Product Innovations
The Vietnam car hire industry showcases notable product innovations, particularly in online platforms offering features like real-time availability, customized insurance options, and integrated GPS navigation. Several companies are exploring electric vehicle (EV) rental options, aligning with global sustainability initiatives. This market fit caters to environmentally conscious travelers and businesses, while also addressing the rising concerns about air quality in urban areas. The competitive advantage lies in providing a seamless user experience that prioritizes convenience, transparency, and value for money.
Report Segmentation & Scope
This report segments the Vietnam car hire market based on the following criteria:
Booking Type: Online and Offline. Online booking is projected to experience a higher CAGR, owing to increasing internet penetration and smartphone usage.
Rental Duration: Short-term (less than 30 days) and Long-term (30 days or more). Short-term rentals will continue to constitute the larger segment.
Application Type: Tourism and Commuting. Tourism will remain the primary driver of growth, while the commuting segment will see strong growth in urban areas.
Key Drivers of Vietnam Car Hire Industry Growth
Several factors contribute to the expansion of the Vietnam car hire industry:
- Tourism Boom: Vietnam's burgeoning tourism sector generates considerable demand for car rental services.
- Rising Disposable Incomes: Increased disposable income fuels consumer spending on travel and leisure activities.
- Improved Infrastructure: Investments in road infrastructure enhance accessibility and convenience for car rentals.
- Technological Advancements: Online platforms and mobile applications increase ease of access and booking.
Challenges in the Vietnam Car Hire Industry Sector
The Vietnam car hire industry faces certain challenges:
- Traffic Congestion: Heavy traffic in major cities can impact rental efficiency and profitability.
- Regulatory Hurdles: Navigating licensing and compliance requirements presents ongoing operational challenges.
- Competition from Ride-hailing Services: Ride-hailing companies pose a significant competitive threat, especially for short-term rentals.
Leading Players in the Vietnam Car Hire Industry Market
- Vina(Vietnam) Rent A Car
- Avis Budget Group (Avis Budget Group)
- Enterprise Holdings (Enterprise Holdings)
- Mai Linh Group
- Hertz Corporation (Hertz Corporation)
- Vietnam Sun Corporation (Vinasun)
- PT Gojek (Gojek)
- Grab Holdings Inc (Grab Holdings Inc)
Key Developments in Vietnam Car Hire Industry Sector
- September 2021: Zoomcar launches operations in Vietnam, introducing approximately 1,000 rental cars to the market.
- May 2022: Zoomcar partners with PJICO to offer comprehensive insurance packages for car owners and renters, a first in the Vietnamese market.
- June 2022: Avis opens a new branch in Phu Quoc, expanding its presence in a key tourist destination.
Strategic Vietnam Car Hire Industry Market Outlook
The Vietnam car hire industry is poised for continued growth, driven by sustained tourism expansion, rising middle-class incomes, and ongoing infrastructure development. Strategic opportunities exist for players focused on technology integration, customer service enhancement, and sustainable transportation solutions. The market's future lies in offering innovative, convenient, and eco-friendly rental options that cater to the evolving needs of both domestic and international travelers.
Vietnam Car Hire Industry Segmentation
-
1. Booking Type
- 1.1. Online
- 1.2. Offline
-
2. Rental Duration
- 2.1. Short-term
- 2.2. Long-term
-
3. Application Type
- 3.1. Tourism
- 3.2. Commuting
Vietnam Car Hire Industry Segmentation By Geography
- 1. Vietnam
Vietnam Car Hire Industry Regional Market Share
Geographic Coverage of Vietnam Car Hire Industry
Vietnam Car Hire Industry REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 12.19% from 2020-2034 |
| Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. 4.; Increasing demand from automobile industry4.; Increased focus on precision products
- 3.3. Market Restrains
- 3.3.1. 4.; The cost of production and transportation4.; Regulations and quality standards
- 3.4. Market Trends
- 3.4.1. Increasing Investments by Foreign Players is Pushing Demand for Car Rentals
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Vietnam Car Hire Industry Analysis, Insights and Forecast, 2020-2032
- 5.1. Market Analysis, Insights and Forecast - by Booking Type
- 5.1.1. Online
- 5.1.2. Offline
- 5.2. Market Analysis, Insights and Forecast - by Rental Duration
- 5.2.1. Short-term
- 5.2.2. Long-term
- 5.3. Market Analysis, Insights and Forecast - by Application Type
- 5.3.1. Tourism
- 5.3.2. Commuting
- 5.4. Market Analysis, Insights and Forecast - by Region
- 5.4.1. Vietnam
- 5.1. Market Analysis, Insights and Forecast - by Booking Type
- 6. Competitive Analysis
- 6.1. Market Share Analysis 2025
- 6.2. Company Profiles
- 6.2.1 Vina(Vietnam) Rent A Car
- 6.2.1.1. Overview
- 6.2.1.2. Products
- 6.2.1.3. SWOT Analysis
- 6.2.1.4. Recent Developments
- 6.2.1.5. Financials (Based on Availability)
- 6.2.2 Avis Budget Group*List Not Exhaustive
- 6.2.2.1. Overview
- 6.2.2.2. Products
- 6.2.2.3. SWOT Analysis
- 6.2.2.4. Recent Developments
- 6.2.2.5. Financials (Based on Availability)
- 6.2.3 Enterprise Holdings
- 6.2.3.1. Overview
- 6.2.3.2. Products
- 6.2.3.3. SWOT Analysis
- 6.2.3.4. Recent Developments
- 6.2.3.5. Financials (Based on Availability)
- 6.2.4 Mai Linh Group
- 6.2.4.1. Overview
- 6.2.4.2. Products
- 6.2.4.3. SWOT Analysis
- 6.2.4.4. Recent Developments
- 6.2.4.5. Financials (Based on Availability)
- 6.2.5 Hertz Corporation
- 6.2.5.1. Overview
- 6.2.5.2. Products
- 6.2.5.3. SWOT Analysis
- 6.2.5.4. Recent Developments
- 6.2.5.5. Financials (Based on Availability)
- 6.2.6 Vietnam Sun Corporation (Vinasun)
- 6.2.6.1. Overview
- 6.2.6.2. Products
- 6.2.6.3. SWOT Analysis
- 6.2.6.4. Recent Developments
- 6.2.6.5. Financials (Based on Availability)
- 6.2.7 PT Gojek
- 6.2.7.1. Overview
- 6.2.7.2. Products
- 6.2.7.3. SWOT Analysis
- 6.2.7.4. Recent Developments
- 6.2.7.5. Financials (Based on Availability)
- 6.2.8 Grab Holdings Inc
- 6.2.8.1. Overview
- 6.2.8.2. Products
- 6.2.8.3. SWOT Analysis
- 6.2.8.4. Recent Developments
- 6.2.8.5. Financials (Based on Availability)
- 6.2.1 Vina(Vietnam) Rent A Car
List of Figures
- Figure 1: Vietnam Car Hire Industry Revenue Breakdown (undefined, %) by Product 2025 & 2033
- Figure 2: Vietnam Car Hire Industry Share (%) by Company 2025
List of Tables
- Table 1: Vietnam Car Hire Industry Revenue undefined Forecast, by Booking Type 2020 & 2033
- Table 2: Vietnam Car Hire Industry Revenue undefined Forecast, by Rental Duration 2020 & 2033
- Table 3: Vietnam Car Hire Industry Revenue undefined Forecast, by Application Type 2020 & 2033
- Table 4: Vietnam Car Hire Industry Revenue undefined Forecast, by Region 2020 & 2033
- Table 5: Vietnam Car Hire Industry Revenue undefined Forecast, by Booking Type 2020 & 2033
- Table 6: Vietnam Car Hire Industry Revenue undefined Forecast, by Rental Duration 2020 & 2033
- Table 7: Vietnam Car Hire Industry Revenue undefined Forecast, by Application Type 2020 & 2033
- Table 8: Vietnam Car Hire Industry Revenue undefined Forecast, by Country 2020 & 2033
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Vietnam Car Hire Industry?
The projected CAGR is approximately 12.19%.
2. Which companies are prominent players in the Vietnam Car Hire Industry?
Key companies in the market include Vina(Vietnam) Rent A Car, Avis Budget Group*List Not Exhaustive, Enterprise Holdings, Mai Linh Group, Hertz Corporation, Vietnam Sun Corporation (Vinasun), PT Gojek, Grab Holdings Inc.
3. What are the main segments of the Vietnam Car Hire Industry?
The market segments include Booking Type, Rental Duration, Application Type.
4. Can you provide details about the market size?
The market size is estimated to be USD XXX N/A as of 2022.
5. What are some drivers contributing to market growth?
4.; Increasing demand from automobile industry4.; Increased focus on precision products.
6. What are the notable trends driving market growth?
Increasing Investments by Foreign Players is Pushing Demand for Car Rentals.
7. Are there any restraints impacting market growth?
4.; The cost of production and transportation4.; Regulations and quality standards.
8. Can you provide examples of recent developments in the market?
In June 2022, Avis opened a new branch in Duong To hamlet, Duong To commune, Phu Quoc city - about 2km from Phu Quoc airport. The car rental services start at prices of 600,000 VND per day.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3800, USD 4500, and USD 5800 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in N/A.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "Vietnam Car Hire Industry," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the Vietnam Car Hire Industry report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the Vietnam Car Hire Industry?
To stay informed about further developments, trends, and reports in the Vietnam Car Hire Industry, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence