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China Car Rental Market Outlook to 2022: Ken Research

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Car rental companies have been tying up with companies to attract more corporate clients and earn higher revenues. Car rental for leisure purpose accounted for almost same market share as business segment, ~% (USD ~ million) during 2017. – PowerPoint PPT presentation

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Title: China Car Rental Market Outlook to 2022: Ken Research


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China Car Rental Market Outlook to 2022 Ken
Research
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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 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
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  • (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.

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  • 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

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  • 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

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  • 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

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revenues. 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.
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  • 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

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  • 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

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  • 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

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market 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.
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  • 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
    onents/china-car-rental-market/142338-100.html
  • Related Reports by Ken Research
  • https//www.kenresearch.com/automotive-transportat
    ion-and-warehousing/automotive-and-automotive-comp
    onents/vietnam-car-rental-market/137557-100.html

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https//www.kenresearch.com/automotive-transportat
ion-and-warehousing/automotive-and-automotive-comp
onents/thailand-car-rental-market/137098-100.html
https//www.kenresearch.com/automotive-transporta
tion-and-warehousing/automotive-and-automotive-com
ponents/indonesia-car-rental-market/136319-100.htm
l Contact Ken Research Ankur Gupta, Head
Marketing Communications sales_at_kenresearch.com
91-124-4230204
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