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
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l Contact Ken Research Ankur Gupta, Head
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91-124-4230204
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