The report titled “Australia 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 Australia. The report covers various aspects such as overall market size of Australia car rental, cab aggregator, self driven car and car sharing in terms of transaction value, segmentation on the basis of 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. The report also covers trends and developments, issues and challenges, regulatory scenario and SWOT analysis of Australia 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 Australia. The report also covers the competitive landscape of the industry and comprehensive profile of leading players (Avis Australia Car Rentals, Hertz Investment (Holdings) Pty Limited, Europcar Asia Pacific, Tourism Holdings Ltd, Uber, GoCatch, Ingogo, GoGet, Flexicar, GreenShareCar) operating in the market.
The report concludes with future outlook and projections of Australia car rental market, major macroeconomic indicators and upcoming trends affecting the market have also been highlighted in the report. 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 Australia.
Australia Car Rental Market
During the period 2012-2017, Australia car rental market grew at a CAGR of ~% in terms of transaction value and ~% in terms of fleet size. There are several factors that influenced the growth of car rental market in a country such as rate of tourist arrivals, number of business travelers, traffic congestion and other factors. In terms of transaction value, the car rental market augmented positively from USD ~ million during 2012 to USD ~ million during 2017. The tourist arrivals to the country positively influenced the car rental market to a large extent. Airport pick-up and drop accounted for major revenue generating source for car rental services in Australia owing to the increased arrival of tourists. Australia witnessed an increase in inbound arrival, growing from ~ million trips to the country during 2012 to ~ million during 2017. The industry witnessed overall increase in fleet size owing to growing competition, increasing demand and increasing market penetration across various cities in the country. Increasing competition in the market has raised the quality of services offered by car rental companies in the country which has attracted more number of customers. The gradual up gradation of technology in the country has increased the accessibility to service. The rising penetration of internet and Smartphone has enabled the major players in the market to facilitate online comparison of the services offered by car rental companies and the customers can book the most suitable option using internet and Smartphone.
Australia Car Rental Market Segmentation
By Market Structure: In terms of revenues, the car rental market is dominated by organized players which accounted for a share of ~% (USD ~ million) during 2017. The organized players in the Australia car rental market dominate in terms of fleet size as they are abundant in the most demanded rental locations namely, Sydney, Melbourne, Brisbane and others. The major factors that supported the domination of organized market are rental charges, accessibility, reliability, quality of services, popularity, online booking and similar other factors. The unorganized market accounted for a share of ~% (USD ~ million) during 2017.
By Trips: In terms of transaction value, leisure clients dominated the car rental market during 2017 which accounted for ~% (USD ~ million) of the transaction value during 2017. Australia has increasingly witnessed inbound tourism for leisure purpose majorly from Asian countries. Increasing number of tourism marketing campaigns increased number of promotions using social media has further aided the leisure segment. Trips for business purpose accounted for a share of ~% (USD ~ million) during 2017 as it is major hub for corporates. Car rental companies majorly tie up with companies to attract more corporate clients and earn higher revenues.
By Mode of Booking: Online car booking has dominated as the mode of booking which has accounted for a share of ~% (USD ~ million) during 2017. Online booking has dominated the market owing to increasing number of tourists, tour packages, ease and convenience of booking online, number of companies offering online and mobile app booking services, rising smart phone penetration and others. Offline booking accounted for a share of ~% (USD ~ million) during 2017 which majorly includes booking through phone calls, SMS and by directly approaching a car rental company (face to face).
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 car segment represent big corporate, luxury hotels and the high income tourists.
Australia Cab Aggregator Market
Increased demand for an external transport services in the country has led to the entry of cab aggregators in the country. Australia has witnessed increasing number of inbound tourism which has resulted in increasing prominence of the cab aggregator or the taxi services in the country. The cab aggregators have positioned themselves in the market by promoting the advances in the services offered by them in comparison to the car rental companies and other local taxis in terms of price, age of the cars, hospitality and others. The entry of cab aggregators in the market has augmented the competition among the taxi services especially in terms of price. The cab aggregator market in Australia has augmented from USD ~ billion during 2012 to USD ~ billion during 2017 at a CAGR of ~% during the period. Leading players in the cab aggregator market in Australia include Uber, GoCatch, and Ingogo.
Australia Car Sharing Market
Car sharing market in Australia is majorly dominated by organized players in the market providing varied services including online bookings, short duration travel, door to door pick up and drop and others. Increasing convenience and cost saving have majorly contributed to the growth of car sharing market in Australia in recent years. Car sharing companies in Australia have been majorly targeting independent travelers who seek more flexibility in their travel plans and offer the service at a lower cost than what daily car rental services offer. Moreover, rising demand for cost-efficient and convenient inner-city transport has driven industry revenue growth over the years. With the increasing urbanization and advances in mobile technology, the car sharing market has flourished in Australia in recent years. Major players in the industry include GoGet, Hertz and GreenShareCar.
Future Outlook of Australia Car Rental Market
Australia car rental market is poised to grow at a moderate growth rate in the upcoming years owing to growing number of inbound tourists, increasing fleet size, growing competition in the market and increasing demand from working population. During the forecasted period, car rental companies are expected to increasingly provide car-sharing services and upgrade their IT platforms to handle information more accurately and faster, to deliver better service experience, flexibility and security to the customer. Other services such as bike rental services by car rental companies, car pooling and car sharing will gain prominence and the market for car rental will grow at a positive growth rate in upcoming years. It is anticipated that online as a mode of booking will dominate the car rental market accounting for a share of ~% during 2022. 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.
Key Topics Covered in the Report
Avis Australia Car Rentals Market Share
International domestic tourism Australia
Tourism Holdings Ltd competitors
Car Rental Companies in Australia
Car rental Market in Australia
Ride Sharing Market Australia
Australia car rental market size
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Ankur Gupta, Head Marketing & Communications