Spain Car Rental Market Growth, Trends, and Future Outlook 2026-2034

Market Overview

The Spain car rental market was valued at USD 1.39 Billion in 2025 and is forecasted to reach USD 1.76 Billion by 2034, growing at a CAGR of 2.69% during 2026 to 2034. This growth is primarily driven by the thriving tourism sector, digital transformation of booking platforms, and the expansion of electric vehicle fleets. The market benefits from enhanced accessibility through platform-based rental integration, creating vast opportunities for players in the competitive landscape.

Study Assumption Years

• Base Year: 2025
• Historical Years: 2020-2025
• Forecast Period: 2026-2034

Spain Car Rental Market Key Takeaways

• The market size was valued at USD 1.39 Billion in 2025 with a projected CAGR of 2.69% through 2034.
• Online booking dominated the market with a 70% share in 2025.
• Short-term rentals led with an 85% market share in 2025.
• Economy vehicles held the largest vehicle type segment with 45% share.
• Leisure/Tourism application dominated with 70% market share.
• Self-driven rentals accounted for 90% of the market.

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Market Growth Factors

Thriving Tourism Sector Driving Demand:

Spain's status as a premier tourist destination fuels the car rental market growth. In 2024, over 87 million international tourists visited Spain, surpassing the 2019 record of 83.7 million. The high influx of tourists creates a consistent demand for convenient and flexible transportation, encouraging growth in rental services. Increased interest in regional tourism and longer travel durations further heighten this demand, underscoring the sector's role as a primary market driver.

Digital Transformation and Convenience:

The widespread adoption of mobile applications and online booking platforms simplifies the rental process, driving market expansion. Online booking dominates with a 70% share due to transparent pricing, seamless experiences, and the ability to compare rental options. Moreover, advancements such as the launch of BBVA Pay in 2025, enabling contactless payments via mobile apps, enhance convenience, encouraging more users to prefer digital rentals. This digital shift broadens accessibility and improves client engagement.

Sustainability and EV Fleet Expansion:

There is rising demand for sustainable transportation solutions as environmental concerns grow. Rental companies are increasingly incorporating electric and hydrogen-powered vehicles. A notable example includes Hyundai and IR Maxoinversiones launching Spain's first hydrogen-powered rent-a-car service in 2024, featuring Hyundai NEXO fuel cell vehicles and IONIQ 5 electric cars. Such innovations meet traveler demand for greener mobility options, contributing to the market's competitive appeal and overall growth.

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Market Segmentation

• Booking Type: Online Booking leads with 70% market share in 2025, favored for convenience and ease of comparison across rental providers.
• Rental Length: Short Term rental accounts for 85% share, catering to tourism-centric needs with flexible daily and weekly options.
• Vehicle Type: Economy vehicles dominate with 45% share in 2025, attractive for their affordability, fuel efficiency, and suitability for urban travel.
• Application: Leisure/Tourism holds 70% market share, reflecting demand driven by international tourists seeking flexible travel experiences across Spain.
• End User: Self-driven vehicles represent 90% of rentals, preferred for independence and flexibility in exploring varied destinations.

Regional Insights

Northern Spain stands out with strong car rental demand driven by popular tourist destinations such as the Basque Country, Galicia, and Asturias. Featuring scenic coastal routes and cultural landmarks, this region attracts travelers who value flexibility and independence. Similarly, Eastern, Southern, and Central Spain exhibit significant demand from key areas like Valencia, Catalonia, Andalusia, and Madrid. The preference for rental vehicles in these regions underscores car rental's integral role in facilitating tourism and regional exploration across Spain.

Recent Developments & News

In September 2025, Final Rentals expanded into Spain and Italy, launching rental locations in Málaga, Mallorca, and Sicily to offer seamless rentals for global travelers. The service became available through their website and mobile app. In December 2024, Amazon partnered with Drivalia to introduce "CarCloud" in Spain, a car subscription service on Amazon's marketplace. It provides flexible annual vehicle rentals with options for swapping cars and cancellation without penalty after the first month, marking a significant innovation in rental service offerings.

Key Players

• Sicily by Car
• Hyundai
• IR Maxoinversiones
• Final Rentals
• Amazon
• Drivalia

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