In 2023, the rental car fleet size of independent car rental companies in the US stood at 75.32 thousand vehicles. This marks a 0.64% year-on-year increase from 2022. Over the last five years, there has been an average annual growth (CAGR) of 0.67%. Notable trends include a sharp decline in 2020 by 16.43% followed by a recovery from 2021 onwards. The fleet is expected to steadily grow, albeit at a moderate pace, with a forecasted 5-year CAGR of 0.54% and an overall growth rate of 2.74% by 2028.

In the future, trends to watch for include:

Increasing adoption of electric vehicles (EVs) in rental fleets.
Impact of autonomous vehicles on fleet management.
Shifts in consumer behavior towards short-term rentals and ride-sharing services.
Regulatory changes impacting fleet composition and operations.
Technological advancements in fleet tracking and management systems.