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 (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. 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.
Increasing demand from corporate, increasing domestic and international tourism and growing demand for car sharing will majorly account for the growth of China car rental market in upcoming years.
Increasing prominence of IT platforms, increasing number of players in car rental industry and growth of inbound arrivals will majorly account for the growth of China car rental market in upcoming years.
Ken Research in its latest study, 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, suggests that demand for car rental in the country will grow at a positive growth rate owing to growing demand for app based bookings and increasing mergers & acquisitions in the market.
China car rental market is expected to witness robust growth in line with growing competition in the market and introduction of new diversified business models. Traditional car rental companies have been entering into new markets such as car sharing and providing time-sharing car rental with flexibility for customers. 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 market more appealing and new small & medium scale players are seeking to enter the industry. New players and business models to some extent pose a threat to traditional car rental players which has resulted in many companies to switch from offline bookings to online bookings.
Increasing demand from working age population and increasing expansion of tourism and travel industry will further account for the growth of China car rental market in upcoming years. Online booking transaction value of car rental is projected to record significant growth over the forecast period, with sales set to rise at a 20% CAGR at constant 2017 prices. The market will be boosted by ever-maturing online booking systems and improved customer experience due to ease of use and convenience. Companies like CAR and eHi Car Services are predicted to continue to lead their positions within the category, underpinned by their well-recognized brands and continuously expanding fleets. Increasing spending power, ban on vehicles and growing mergers & acquisitions in the market will aid the overall market growth in upcoming years. Moreover, it is anticipated that up gradation in technology to deliver better service experience, flexibility and security to the customer will attract more customers to online car rental market in China.
Internet and Smartphone users in China, increasing international inbound arrivals and domestic tourists and growing working population in China are some other key factors that may have positive impact on the market, according to the Analyst at Ken Research.
Key Topics Covered in the Report
Avis Budget Group Inc Competitors
Beijing Shouqi Group Corp Revenue
Car rental Industry China
Car Rentals Market Share
China Bike Rental Industry Growth
Ride Sharing Market China Outlook
Car Rental Companies in China
eHi Car Services Ltd Inc Fleet Size
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Ankur Gupta, Head Marketing & Communications