Future-Forward Strategies for Vietnam Car Hire Industry Industry

Vietnam Car Hire Industry by Booking Type (Online, Offline), by Rental Duration (Short-term, Long-term), by Application Type (Tourism, Commuting), by Vietnam Forecast 2025-2033

Jun 25 2025
Base Year: 2024

197 Pages
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Future-Forward Strategies for Vietnam Car Hire Industry Industry


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Key Insights

The Vietnam car hire industry is experiencing robust growth, projected to reach a substantial market size driven by a burgeoning tourism sector and increasing disposable incomes among the Vietnamese population. The 13.82% Compound Annual Growth Rate (CAGR) from 2019-2033 signifies significant expansion, particularly within the short-term rental segment catering to tourists exploring the country's diverse landscapes and bustling cities. Online booking platforms are rapidly gaining traction, offering convenience and competitive pricing, further stimulating market expansion. While the long-term rental segment, primarily driven by business needs and expatriates, also contributes significantly, the short-term tourism segment is the key driver of the overall market's impressive growth trajectory. Factors such as improved infrastructure, a growing middle class with increased travel propensity, and the increasing popularity of self-drive tours are all contributing positively. However, challenges remain, including traffic congestion in urban areas, limited parking availability in popular tourist destinations, and the need for enhanced regulatory frameworks to ensure safety and standardization across the industry. Competition is intensifying among both local players like Vina(Vietnam) Rent A Car and Mai Linh Group, and international giants such as Avis Budget Group and Hertz Corporation, leading to innovation in service offerings and pricing strategies.

The forecast period of 2025-2033 presents exciting opportunities for industry players. Continued investment in technology, particularly in online booking systems and fleet management, will be crucial for success. Companies are likely to focus on expanding their service offerings to include value-added services like airport transfers, GPS navigation, and 24/7 customer support. Strategic partnerships with hotels, tour operators, and airlines can further enhance market penetration and brand visibility. Addressing regulatory concerns and contributing to sustainable tourism practices will be vital for long-term growth and societal acceptance. Furthermore, an evolving regulatory landscape related to ride-hailing and car-sharing services will create both opportunities and challenges for the industry's established players. Understanding consumer preferences and adapting to the evolving demand for flexible rental options will be critical for navigating the complexities of this dynamic market.

Vietnam Car Hire Industry Research Report - Market Size, Growth & Forecast

Vietnam Car Hire Industry Market Report: 2019-2033

This comprehensive report provides a detailed analysis of the Vietnam car hire industry, encompassing market dynamics, growth trends, competitive landscape, and future outlook. The report covers the period from 2019 to 2033, with a focus on the base year 2025 and forecast period 2025-2033. It delves into key segments like online and offline booking, short-term and long-term rentals, tourism and commuting applications, providing crucial insights for industry professionals, investors, and stakeholders. The total market size in 2025 is estimated at XX Million USD.

Vietnam Car Hire Industry Market Dynamics & Structure

This section analyzes the competitive landscape, technological advancements, regulatory environment, and market trends shaping the Vietnam car hire industry. The market is characterized by a mix of both local and international players. Market concentration is moderate, with a few dominant players and numerous smaller operators. Technological innovation is driven by the integration of online booking platforms, mobile applications, and digital payment systems. Regulatory frameworks, including licensing requirements and insurance regulations, play a significant role in shaping market dynamics. The industry also faces competition from alternative transportation options such as ride-hailing services. M&A activity has been relatively low in recent years, with XX deals recorded between 2019 and 2024 (value: XX Million USD).

  • Market Concentration: Moderately concentrated, with top 5 players holding approximately XX% market share in 2024.
  • Technological Innovation: Focus on mobile apps, online booking, GPS tracking, and automated customer service. Barriers include high initial investment costs and lack of skilled IT professionals.
  • Regulatory Framework: Licensing, insurance, and vehicle safety standards influence operational costs and market entry.
  • Competitive Substitutes: Ride-hailing services (Grab, Gojek) and public transportation pose significant competition.
  • End-User Demographics: Primarily young professionals and tourists, with growing demand from business travelers.
  • M&A Trends: Low M&A activity in recent years, potentially due to regulatory hurdles and market fragmentation.

Vietnam Car Hire Industry Growth Trends & Insights

The Vietnam car hire market witnessed steady growth during the historical period (2019-2024), with a Compound Annual Growth Rate (CAGR) of XX%. This growth is fueled by the expanding tourism sector, rising disposable incomes, and increasing urbanization. Technological disruptions, such as the introduction of online booking platforms and mobile applications, have significantly improved convenience and accessibility. Consumer behavior shifts towards preference for online bookings and short-term rentals are observed. Market penetration remains relatively low, indicating significant untapped potential. The forecast period (2025-2033) projects a continued growth trajectory, with a projected CAGR of XX%, driven by factors like improving infrastructure and government initiatives.

Vietnam Car Hire Industry Growth

Dominant Regions, Countries, or Segments in Vietnam Car Hire Industry

The major cities of Ho Chi Minh City and Hanoi drive the majority of the car rental market, together accounting for approximately XX% of total revenue in 2024. The short-term rental segment dominates the market with a significant share of XX% due to its affordability and convenience, especially for tourists. The online booking segment is experiencing rapid growth, surpassing offline bookings in recent years. Tourism is the major application segment, contributing XX% of the market revenue, followed by the commuting segment. Growth is further boosted by factors such as improved road infrastructure, increasing tourist arrivals, and growing business travel.

  • Key Drivers: Strong tourism growth, increasing urbanization, and improved road infrastructure.
  • Dominance Factors: High population density, strong tourist traffic, and presence of major airports in Ho Chi Minh City and Hanoi.
  • Growth Potential: Untapped potential in smaller cities and rural areas, as well as expansion into niche markets (e.g., luxury car rentals).

Vietnam Car Hire Industry Product Landscape

The car hire industry offers a range of vehicles, from economy cars to luxury vehicles, catering to diverse customer needs. The market increasingly features innovative services such as self-drive car rentals with added insurance packages and features like roadside assistance, GPS navigation, and child seats. Key performance metrics include fleet utilization rates, average rental duration, and customer satisfaction scores. The key selling proposition is convenience, flexibility, and tailored services catering to individual travel needs. Technological advancements focus on improving booking experience, vehicle management, and customer service.

Key Drivers, Barriers & Challenges in Vietnam Car Hire Industry

Key Drivers:

  • Rapid growth in tourism and business travel
  • Rising disposable incomes and urbanization
  • Government initiatives to improve infrastructure

Key Challenges & Restraints:

  • Intense competition from ride-hailing services. This is estimated to reduce market share by approximately X% by 2033.
  • Regulatory hurdles and licensing requirements, increasing operational costs.
  • Supply chain disruptions, impacting vehicle availability and pricing.

Emerging Opportunities in Vietnam Car Hire Industry

Emerging opportunities include expanding into underserved markets (smaller cities and rural areas), offering specialized services (e.g., luxury car rentals, chauffeur-driven cars), and leveraging technological advancements to enhance customer experience through personalized services and AI-powered features. Furthermore, partnerships with hotels and tourism agencies could expand market reach and increase customer base.

Growth Accelerators in the Vietnam Car Hire Industry

Long-term growth will be accelerated by strategic partnerships with hotels and travel agencies, expansion into new geographic markets, and technological advancements enabling efficient fleet management, improved customer experience, and enhanced safety features.

Key Players Shaping the Vietnam Car Hire Industry Market

  • Vina(Vietnam) Rent A Car
  • Avis Budget Group
  • Enterprise Holdings
  • Mai Linh Group
  • Hertz Corporation
  • Vietnam Sun Corporation (Vinasun)
  • PT Gojek
  • Grab Holdings Inc

Notable Milestones in Vietnam Car Hire Industry Sector

  • September 2021: Zoomcar launches operations in Vietnam, introducing 1,000 cars to the market.
  • May 2022: Zoomcar partners with PJICO to offer comprehensive insurance packages.
  • June 2022: Avis opens a new branch in Phu Quoc, expanding its presence in the tourism sector.

In-Depth Vietnam Car Hire Industry Market Outlook

The Vietnam car hire industry is poised for continued growth, driven by positive economic trends, infrastructure development, and increasing tourism. Strategic opportunities exist for players who can leverage technology, build strong brand reputations, and offer superior customer service. The market's potential is significant, with opportunities for both established players and new entrants to capture market share through innovation and strategic expansion.

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 Share


Vietnam Car Hire Industry REPORT HIGHLIGHTS

AspectsDetails
Study Period 2019-2033
Base Year 2024
Estimated Year 2025
Forecast Period2025-2033
Historical Period2019-2024
Growth RateCAGR of 13.82% from 2019-2033
Segmentation
    • By Booking Type
      • Online
      • Offline
    • By Rental Duration
      • Short-term
      • Long-term
    • By Application Type
      • Tourism
      • Commuting
  • By Geography
    • Vietnam


Table of Contents

  1. 1. Introduction
    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions
  2. 2. Executive Summary
    • 2.1. Introduction
  3. 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. 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. 5. Vietnam Car Hire Industry Analysis, Insights and Forecast, 2019-2031
    • 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
  6. 6. Competitive Analysis
    • 6.1. Market Share Analysis 2024
      • 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)

List of Figures

  1. Figure 1: Vietnam Car Hire Industry Revenue Breakdown (Million, %) by Product 2024 & 2032
  2. Figure 2: Vietnam Car Hire Industry Share (%) by Company 2024

List of Tables

  1. Table 1: Vietnam Car Hire Industry Revenue Million Forecast, by Region 2019 & 2032
  2. Table 2: Vietnam Car Hire Industry Revenue Million Forecast, by Booking Type 2019 & 2032
  3. Table 3: Vietnam Car Hire Industry Revenue Million Forecast, by Rental Duration 2019 & 2032
  4. Table 4: Vietnam Car Hire Industry Revenue Million Forecast, by Application Type 2019 & 2032
  5. Table 5: Vietnam Car Hire Industry Revenue Million Forecast, by Region 2019 & 2032
  6. Table 6: Vietnam Car Hire Industry Revenue Million Forecast, by Country 2019 & 2032
  7. Table 7: Vietnam Car Hire Industry Revenue Million Forecast, by Booking Type 2019 & 2032
  8. Table 8: Vietnam Car Hire Industry Revenue Million Forecast, by Rental Duration 2019 & 2032
  9. Table 9: Vietnam Car Hire Industry Revenue Million Forecast, by Application Type 2019 & 2032
  10. Table 10: Vietnam Car Hire Industry Revenue Million Forecast, by Country 2019 & 2032


Frequently Asked Questions

1. What is the projected Compound Annual Growth Rate (CAGR) of the Vietnam Car Hire Industry?

The projected CAGR is approximately 13.82%.

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 XX Million 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 Million.

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 Chart
Bar Chart
Method Chart

Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Approach Chart
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.

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
Analyst Chart

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

Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.

About Visionary Data Reports

Visionary Data Reports provides future-focused market research, advanced analytics, and strategic insights for technology, healthcare, green energy, and finance. Our reports help you anticipate trends, innovate, and lead in your industry. Our expert team combines primary research, data science, and industry knowledge to deliver actionable intelligence. We offer syndicated reports, custom analytics, and consulting services tailored to your business needs. At Visionary Data Reports, we are committed to quality, transparency, and client satisfaction. Every report is rigorously validated to ensure accuracy and relevance. Our global perspective and forward-thinking approach help you understand both current and emerging market dynamics.

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