Driving Vacation Market Report 2024

This Driving Vacation industry report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The driving vacation market size has grown rapidly in recent years. It will grow from $138.26 billion in 2023 to $159.93 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The growth observed during the historic period can be attributed to several factors such as increasing car ownership, expansion of road networks, a rise in disposable incomes, growth in leisure travel, the popularity of road trip culture, and rising economic stability.

The driving vacation market size is expected to see rapid growth in the next few years. It will grow to $287.78 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The projected growth in the forecast period can be attributed to several factors such as advances in electric vehicle technology, the expansion of autonomous driving capabilities, increasing environmental consciousness, growth in remote work opportunities, and a rising focus on personalized travel experiences. Major trends during this period include a growing emphasis on sustainable travel, the adoption of road trip apps, increasing interest in unique and personalized experiences, demand for flexible and spontaneous trip planning, and the incorporation of wellness activities.

The increase in the number of travelers is anticipated to drive the growth of the driving vacation market. Travelers, who move from one location to another for leisure, work, or other purposes, are on the rise due to improved access to travel services, a growing middle class with greater disposable income, and the convenience of online travel planning and booking. Driving vacations offer travelers the freedom to explore destinations at their own pace, enjoy scenic routes, and immerse themselves in local cultures, often at a lower cost compared to other travel options. For example, in February 2024, the International Trade Administration reported that the number of international visitors to the United States is expected to increase to 77.7 million in 2024, a rise of 10.4 million, or 15.4%, from the 67.3 million visitors recorded in 2023. This surge in travel is expected to boost the driving vacation market.

Leading companies in the driving vacation market are offering group trip vehicle rental services to enhance travel convenience. These services provide spacious and comfortable transport options, such as minibusses and tempo travelers, designed to accommodate large groups for various events and outings. For instance, in June 2024, Savaari Car Rentals, an India-based car rental company, introduced its Tempo Traveller and Minibus Rental Services. These options are ideal for groups of more than eight people and feature spacious seating, ample legroom, sufficient aisle space, and generous boot capacity. The services include vehicles such as 12-seaters or 16-seaters equipped with luxurious amenities, catering to a range of travel needs including family trips, road trips, picnics, spiritual pilgrimages, and corporate events.

In July 2022, Green Mobility Holdings, a Europe-based e-bike leasing platform led by Volkswagen, acquired 87.38% of France's Europcar for an undisclosed amount. This acquisition aims to secure a significant share of the global mobility services market over the next decade. It supports Volkswagen’s future mobility platform, which will offer a range of services from short-term car sharing to long-term car subscriptions. Europcar Mobility Group, based in France, focuses on mobility services including vacation car rentals and subscription services.

Major companies operating in the driving vacation market are American Express, Enterprise Holdings Inc., Avis Rent A Car System LLC, Hertz Global Holdings Inc., Sixt SE, Alamo Group, Tripadvisor LLC, Audley Travel, Kayak Inc., Road Bear RV, SOTC Travel Limited, TourRadar, Roadtrippers LLC, WEXAS TRAVEL, Jucy Group Ltd, Scott Dunn Ltd., Adventures Overland, Auto Europe, Travelscape LLC, Wild Frontiers Adventure Travel, Triumph Expeditions Pvt Limited.

North America was the largest region in the driving vacation market in 2023. The regions covered in the driving vacation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the driving vacation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A driving vacation is a type of trip where the primary mode of transportation is by car, caravan, or bus. This type of vacation involves planning a route that may include multiple stops, exploring various destinations along the way, and enjoying the flexibility to travel at a chosen pace.

The main types of driving vacations include customized road tours and fixed-departure tours. A customized road trip allows travelers to create a personalized itinerary based on their preferences, enabling them to select specific destinations, activities, and accommodations. Travelers can be solo or in groups and can arrange their trips through various booking methods, such as online travel agencies or direct travel agents.

The driving vacation market research report is one of a series of new reports that provides driving vacation market statistics, including driving vacation industry global market size, regional shares, competitors with a driving vacation market share, detailed driving vacation market segments, market trends and opportunities, and any further data you may need to thrive in the driving vacation industry. This driving vacation market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The driving vacation market includes revenues earned by entities through route planning, car rental, roadside assistance, and tour packages. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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