Title: China Car Rental Market Outlook to 2022: Ken Research
1China Car Rental Market Outlook to 2022 Ken
Research
2The 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 provides a comprehensive
analysis of the car rental market in China. The
report covers various aspects such as overall
market size of China car rental, cab aggregator,
self driven car and car sharing in terms of
transaction value, segmentation on the basis of
market structure
3- (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. The report also covers
trends and developments, issues and challenges,
regulatory scenario and SWOT analysis of China
car rental market. The report covers snapshot and
business models of cab aggregator market, self
driven car, car sharing, car pooling/ride sharing
and bike aggregator market in China. The report
also covers the competitive landscape of the
industry and comprehensive profile of leading
players (CAR Inc, EHi Car Services Ltd, Beijing
Shouqi Group Corp, Avis Budget Group Inc,
Shenzhen TopOne Car Rental Co Ltd, Shanghai Bashi
Industrial (Group) Co Ltd, Yongda Group, Shanghai
Jinjiang Holdings Co Ltd) operating in the
market. - The report concludes with future outlook and
projections of China car rental market, major
macroeconomic indicators and upcoming trends
affecting the market have also been highlighted
in the report.
4- The report also serves competitive scenario for
each market which exists in car rental industry
to get an in-depth understanding of car rental
sector in China. - China Car Rental Market
- The Chinese car rental market emerged in 1990
when the Asian Games was held in Beijing. At
present, the major markets of focus include
Beijing, Shanghai, Guangzhou and Shenzhen. The
traditional car rental industry has involved with
considerable assets and low profits as the car
rental companies are focusing on enhancing their
competitiveness by improving their services,
expanding fleet size and operational efficiency.
The emerging platform-based internet car rental
models have been gaining prominence in the
market, affecting the traditional business
models. Short-term car rental market is still in
an early stage of development as of 2017 and the
category was fragmented with the presence of
various players. The top 10 players within car
rental accounted for a combined value share of
only in
5- 2017. During the period 2012-2017, China car
rental market grew at a CAGR of in terms of
transaction value and in terms of fleet size.
The major growth drivers of car rental market in
China include favorable government policies,
growth of domestic tourism and growing mergers
and acquisitions in the industry. The car rental
market augmented from USD million during 2012
to USD million during 2017 at a CAGR of
during 2012-2017. Car sharing has been
increasingly gaining prominence in the market
owing to huge demand from the millennials,
driving the market growth. Additionally, China
has witnessed double digit growth of online car
rental market which has further aided the overall
market growth during 2012-2017. - China Car Rental Market Segmentation
- By Market Structure In terms of revenues, China
car rental market is dominated by organized
players which accounted for a share of (USD
million) during 2017. The organized players in
the China car
6- rental market dominated in terms of fleet size
and transaction value with the presence of large
players in the industry focusing on online
bookings and enhancing their fleet size. Major
organized players in the car rental industry in
China include CAR Inc, EHi Car Services Ltd,
Beijing Shouqi Group Corp, Avis Budget Group Inc,
and others. The unorganized market accounted for
a share of (USD million) during 2017. The
car rental market of China is highly fragmented
with availability of many small scale players in
the unorganized segment facing intense
competition from app-based business models. -
- By Trips In terms of transaction value, business
clients dominated the China car rental market
during 2017 which accounted for (USD
million) of the transaction value during 2017.
The increasing number of business travelers of
corporate clients and Chinas huge economy has
boosted the demand for car rental services from
business segment during 2012-2017. Car rental
companies have been tying up with companies to
attract more corporate clients and earn higher
7revenues. Car rental for leisure purpose
accounted for almost same market share as
business segment, (USD million) during 2017.
The demand of rental cars for leisure purpose is
majorly driven by tourists arrivals from both
domestic and foreign countries. By Mode of
Booking Online as a mode of booking dominated
the car rental segment in China which accounted
for a share of (USD million) during 2017.
Online as a mode of booking car has been
increasingly gaining prominence in China, majorly
since past two years. The organized players in
the market have shifted from traditional models
of business to online platforms to beat the
market competition and provide better customer
services. Offline segment as mode of booking
accounted for a share of during 2017. Offline
booking includes booking through phone calls, SMS
and by directly approaching a car rental company
(face to face). Online car booking accounted for
a share of (USD million) during 2017.
8- By Car Type Hatchbacks have dominated the car
rental market with a share of (USD million)
in terms of transaction value during 2017 due to
economic price and likability of travelers. Sedan
and SUV accounted for a share of (USD
million) and (USD million) respectively,
during 2017. The customers for the SUV segments
represent big corporate, luxury hotels and the
high income tourists. - China Cab Aggregator Market
- China has witnessed increasing demand from
working age population which has resulted in
increasing prominence of the cab aggregator or
the taxi services in the country. The entry of
cab aggregators in the market has augmented the
competition among the taxi services especially in
terms of price. China has witnessed increasing
number of inbound tourists and domestic travel
which has resulted in increasing prominence of
the cab aggregator or the taxi services in the
country. The cab aggregator market in China has
9- augmented from USD million during 2012 to USD
million during 2017 at a CAGR of during the
period. The cab aggregator market in the country
has been growing on the back of growing internet
Smartphone penetration, increasing convenience
by booking from app-based platforms and
increasing demand from working age population.
Leading players in the cab aggregator market in
China include Didi Kuaidi, MyTaxiChina and
others. - China Car Sharing Market
- Car-sharing, one of the fastest growing urban
mobility innovations worldwide, did not exist in
China in 2009, but is quickly becoming more
prominent in Chinese cities. Chinas car-sharing
network has grown to a total of vehicles with
five active markets including Beijing, Wuhan,
Hangzhou, Changsha, and Shenzhen. The composition
of cab sharing operators (CSOs) in China has
evolved from domestic start-ups that operate
independently from government or established
rental car companies to a mix of municipal
10- governments and foreign and domestic vehicle
manufactures. Recently, China has witnessed
increasing demand for peer-to-peer car sharing
where companies provide a platform for members to
rent vehicles owned by other members in the
network. Moreover, rising demand for
cost-efficient and convenient inner-city
transport has driven industry revenue growth of
car sharing market over the years. The car
sharing market in China has augmented from USD
million during 2012 to USD million during 2017
at a CAGR of during 2012-2017. - Future Outlook of China Car Rental Market
- Increasing demand from working age population and
increasing expansion of tourism travel industry
will further account for the growth of China car
rental market in upcoming years. Owing to fast
development of the internet and innovations, more
opportunities have appeared for new category
entrants. P2P car rental, clean-tech car rental
and time-sharing car rental all have made the car
rental
11market more appealing and new small and medium
scale players are seeking to enter the industry.
It is expected that the increase in the travel
expenditure on account of improvement in the
economic conditions, increase in the frequency of
air travel and rising number of foreign visitors
in China will account for growth of China car
rental market in forecasted period. It is
anticipated that online as a mode of booking will
continue to dominate the car rental market
accounting for a share of during 2022. The
share of offline booking will decline and online
bookings will capture huge chunk of the overall
market. The overall car rental market will grow
from USD million during 2018 to USD million
during 2022 at a CAGR of during the forecasted
period. Increasing demand from corporates,
increasing domestic and international tourism and
growing demand for car sharing will account for
the growth of China car rental market in upcoming
years.
12- Key Topics Covered in the Report
- Avis Budget Group Inc Competitors
- Car rental Industry China
- Car Rentals Market Share
- China Bike Rental Industry Growth
- Car Rental Companies in China
- eHi Car Services Ltd Inc Fleet Size
- For more information on the research report,
refer to below link - https//www.kenresearch.com/automotive-transportat
ion-and-warehousing/automotive-and-automotive-comp
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l Contact Ken Research Ankur Gupta, Head
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91-124-4230204
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