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 (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.
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 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 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 China’s 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 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.
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 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. China’s 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 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 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.
Key Topics Covered in the Report
Car rental Industry China
Value Chain Analysis China Car Rental Market
China Car Rental Market Size
China Cab Aggregators’ Revenue
Major Players in China Car Rental Market
Car Rental Companies in China
Competition in China Car Rental Market
China Self Driving Car Market Revenue
Non Chauffer Rental Car Market China
China Car Rental Market Future Growth
CAR Inc Car Rentals Market Share
eHi Car Services Ltd Inc Fleet Size
Beijing Shouqi Group Corp Revenue
Avis Budget Group Inc Competitors
Trends in Car Rental Market China
China Cab Aggregators Market Share
China Bike Rental Industry Growth
China Cab Sharing Market Outlook
Ride Sharing Market China Outlook
Ankur Gupta, Head Marketing & Communications
ankur [@] kenresearch.com
1. Executive Summary
2. Research Methodology
3. China Car Rental Market Overview
4. China Car Rental Market Size
4.1. By Transaction Values and Fleet Size, 2012-2017
5. China Car Rental Market Segmentation
5.1. By Market Structure (Organized and Unorganized Sector) by Transaction Value, 2017
5.2. By Mode of Booking (Online and Offline) by Transaction Value, 2017
5.3. By Clients (Leisure and Business) by Transaction Value, 2017
5.4. By Major Regions, 2017
5.5. By Pick-Ups (Airport and Off-Airport) by Transaction Value, 2017
5.6. By Car Type (Hatchback, Sedan and SUV) by Transaction Value, 2017
6. Snapshot on China Cab Aggregator Market
7. Snapshot on China Self Driven Car Market
8. Snapshot on China Car Sharing Market
9. Snapshot on China Car Pooling/Ride Sharing Market
10. Snapshot on China Bike Aggregator Market
11. SWOT Analysis of China Car Rental Market
12. Trends and Developments in China Car Rental Market
13. Government Regulations in China Car Rental Market
14. Competition Scenario in China Car Rental Market
15. Market Share of Major Players in China Car Rental Market
16. Matrix for Cross Comparison of Major Players in China Car Rental Market (Fleet Size, Average Rental Duration, Average Transactions per Car, Average Ticket Size, Number of Trips per Day, Major Operational Areas, Transactions)*
17. Competitive Landscape of Major Players in China Car Rental Market
17.1. CAR Inc
17.2. eHi Car Services Ltd
17.3. Beijing Shouqi Group Corp
17.4. Avis Budget Group Inc
17.5 Shenzhen TopOne Car Rental Co Ltd
17.6. Shanghai Bashi Industrial (Group) Co Ltd
17.7. Yongda Group
17.8. Shanghai Jinjiang Holdings Co Ltd
18. China Car Rental Market Future Outlook and Upcoming Trends
18.1. By Transaction Value and Fleet Size, 2018-2022
18.2. By Mode of Booking (Online and Offline) by Transaction Value, 2022
19. Analyst Recommendations
20. Macroeconomic Factors Impacting China Car Rental Market
20.1. Internet and Smartphone Users in China, 2012-2022
20.2. International Inbound Arrivals and Domestic Tourists, 2012-2022
20.3. Working Population in China, 2012-2022
Car Rental Market Definition: Car rental covers the short-term rental of passenger vehicles for self-drive including small vans by both business and leisure users, whether from the airport or downtown locations. Small vans up to one tone are included. For longer than average rental periods, for instance rental of one month, provided the rental is sourced from the short-term rental fleet, this transaction is included. Car rental value covers the price of car hire to the consumer. Ancillary Transaction Values are included, such as the hire of baby car seats, GPS navigation systems, optional roadside assistance services and collision and damage waivers. Volume is provided by the number of car hire transactions, fleet size and number of car rental operators. In underdeveloped markets, car rental companies offer chauffeur-driven cars. Most people prefer these options, due to unfamiliarity with the roads. Ken Research includes chauffeur-driven cars in car rental, when they concern car rental companies such as Hertz or Avis, which offer a chauffeur-driven service as an additional option. Car rental covers sales to inbound tourists and domestic tourists. Sales are recorded in the country of destination. For instance, if a US citizen books a car rental service in France via the US offices of Hertz, the sales are attributed to Hertz France. The same applies for online sales. Car rental excludes long-term leasing, commercial vehicles, trucks and motorbikes and local car sharing schemes.
*Some of the qualitative or quantitative information provided would highly depend upon the computerized assisted telephonic conversations (CATIs) with industry experts. On the basis of the discussion, the section could be edited or deleted as per the information availability. All limitations and approach used will be clearly mentioned in the report.
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
On-Airport, Off-Airport, Self Drive, Chauffer Driven Car Rental, Cab Aggregator, Long Distance Car Rental, Car Leasing, Car Pooling, Ride Sharing Apps, Bike Rental, Short Term Car Rental, Organized Car Rental Market, Small Car rental,Leisure Car Rental, Online Car Rental, Off-line Car Rental