The revenue of independent rental car companies in the US reached $577.7 million in 2023. Historically, the segment showed varied growth with significant declines during the 2020 pandemic year (-17.21%). Although there was a recovery trend in 2021 (+8.15%) and 2022 (+10.84%), the growth steadied in 2023 with a slight decrease (-0.24%). The projected CAGR from 2024 to 2028 indicates a marginal decline of -0.18%, predicting revenues to taper to $566.99 million by 2028.

Future Trends to Watch:

Impact of advancements in autonomous vehicle technology on rental car demand.
Potential shifts towards subscription-based car services.
Influence of electric vehicles on fleet management and customer preferences.
Continued effects of economic fluctuations and travel patterns on the rental market.