China Car Rental Market was led by Boom in Domestic Tourism and Increasing Popularity of Self-Drive Trips: Ken Research

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China Car Rental Market was led by Boom in
Domestic Tourism and Increasing Popularity of
Self-Drive Trips Ken Research
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Rising levels of household disposable income in
China, expanding customer group for car rental
services and the diversification of services
provided by car rental firms have been major
growth drivers of China car rental market during
the review period.
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The report titled China Car Rental Market by
Market Structure (Organized and Unorganized
Sector), by Mode of Booking (Online and Offline),
by Clients (Leisure and Business), by Pick-Ups
(Airport and Off-Airport), by Car Type
(Hatchback, Sedan and SUV) and by Major Regions -
Outlook to 2022 by Ken Research suggested that
growing demand for cab sharing, short term car
rental and bike rental services will majorly
account for the overall revenue growth of China
car rental market in next 5 years till 2022. Car
rental industry in China was emerged during 1990
when the Asian Games was held in Beijing and
since then the industry has revolutionized with
time. During the review period, it was witnessed
that car rental market in China is majorly
dominated by organized players, with top seven
companies in the market accounting for 83 of the
overall market share during 2017. The overall car
rental market is fragmented with the presence of
large number of small scale players in the
industry.
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The short-term car rental market is still in an
early stage of development as of 2017 and the
category is fragmented with the presence of
various small, medium and large players. The
Chinese governments regulation on limiting the
number of vehicles has greatly increased demand
for car rentals in the country. For top-tier
cities, local governments have issued various
policies to restrict the increase in the number
of vehicles by limiting the issuing of new
vehicle plates, and also by restricting non-local
vehicle plates to limited entry areas and time
periods. The car rental market in China
witnessed major mergers and acquisitions in the
industry which has further aided to its growth.
For instance, Beijing Shouqi Car Rental Service
formed a strategic partnership with Reocar
Holding Limited by purchasing 40 of its shares
in early 2016 in August 2016, Uber China merged
with Didi Chuxing. Leading car rental players
have developed their own mobile apps and websites
which resulted in market shift from traditional
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offline mode of bookings to online car booking in
the country. Online bookings recorded robust
growth towards the end of the review period
(2016-2017) due to convenience and timesaving for
the customers. The demand for car rental in China
is further boosted from corporate and individual
customers in China. Insurance companies and
automobile dealers also have a growing demand for
car rentals as replacements for customers when
cars are under repair. Increasing penetration of
Smartphone, growing demand for car sharing and
car pooling will majorly drive the car rental
market China in upcoming years. Key Topics
Covered in the Report Car rental Industry China
Value Chain Analysis China Car Rental
Market China Car Rental Market Size China Cab
Aggregators Revenue
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• Major Players in China Car Rental Market
• Car Rental Companies in China
• Competition in China Car Rental Market
• China Self Driving Car Market Revenue
• Non Chauffer Rental Car Market China
• China Car Rental Market Future Growth
• CAR Inc Car Rentals Market Share
• eHi Car Services Ltd Inc Fleet Size
• Beijing Shouqi Group Corp Revenue
• Avis Budget Group Inc Competitors
• Trends in Car Rental Market China
• China Cab Aggregators Market Share
• China Bike Rental Industry Growth
• China Cab Sharing Market Outlook
• Ride Sharing Market China Outlook

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• For more information on the research report,
  refer to below link
• https//www.kenresearch.com/automotive-transportat
  ion-and-warehousing/automotive-and-automotive-comp
  onents/china-car-rental-market/142338-100.html
• Related Reports by Ken Research
• https//www.kenresearch.com/automotive-transportat
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  onents/vietnam-car-rental-market/137557-100.html
• https//www.kenresearch.com/automotive-transportat
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  onents/thailand-car-rental-market/137098-100.html
• https//www.kenresearch.com/automotive-transportat
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  onents/indonesia-car-rental-market/136319-100.html
  

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