India Self Drive Car Rental Market Outlook to 2024: Ken Research

The report titled publication India Self Drive Car Rental Market Outlook to 2024 – Rising Prominence of Shared Mobility Space with Growing Competencies of Self Drive Companies due to the Growing Investments” provides a comprehensive analysis on self drive car rental industry of India and other major countries. The report focuses on the overall market size both in terms of Gross Transaction Value (GTV) & fleet size; market segmentation by market structure (Organized and Unorganized Market); By Cities of India (Bangalore, Delhi, Mumbai and Others); By Type of Booking Channels (Mobile, Online and Physical); By Type of Booking Package (Hourly, Weekly, Daily and Monthly); By Type of usage (Intercity or Intracity), By Type of Booking Period (Weekends and Weekdays); By Car Type (Hatchbacks, Sedans and SUV and MUV); By Segments of Cars (Standard and Luxury); By Status of Ownership (Owned or Leased). The report also includes trends and developments and issues and challenges in the market. Completion analysis including cross comparison on the basis of key performance indicators of the players, company profiles of major organized sector players and their market share in terms of sales volume. The report concludes with market projections and analyst recommendations highlighting the major opportunities and cautions.

Market Overview and Size

The self drive car rental Industry in India is in its early stages of growth with only 10-15 major organized players operating in the market. The market showcased a double digit CAGR in terms of both GTV and fleet size during the review period FY’2013-FY’2019. The increase in demand for privacy coupled with development of local tourist destinations and convenient places for quick getaways has helped the market to grow.

Market Segmentation:

By Market Structure (Organized and Unorganized Market): Organized market dominated both in terms of Gross Transaction Value (GTV) and Fleet Size during the year FY’2019. The organized market space is able to provide a structured and transparent fee structure along with extra and complimentary customer services such as on road assistance, GPS, cleaning and maintenance which the unorganized sector fails to do so.

India Self Drive Car Rental Market

By Cities (Bangalore, Delhi, Mumbai, Pune Chandigarh and others): Bangalore leads in this segment as it is the home to every major startup in this industry and provides growth opportunities for tech savvy people and a good place for on ground testing and research.

By Booking Channel (Mobile Application, Online Portals and Physical Bookings): Mobile application booking is the most favorable method as it provide the user with added convenience and the ease of booking a car from anywhere.

By Booking Package (Hourly, Daily, Weekly and Monthly): Majority of customers prefer to book car on the basis of daily package as they provide them with the most economical packages and durations. The Daily basis package amounted to the highest proportion out of the total number of bookings done in FY’2019.

By Usage (Intercity and Intracity): The development of roads and highways all across India provides a well-connected network which in turn allows the people to easily travel from one city to another. Inter-city trips hold a significant part of total trips done by the users, in comparison to Intracity trips made by them during FY’2019.

By Booking Period (Weekends and Weekdays): Demand from the weekend segment was observed to be high during FY’2019 as majority of the quick getaways and short trips are planned on weekends. The other section of this segment comprises of bookings made for the weekdays are usually done by Corporate Clients or Students.

By Types of Cars (Hatchbacks, Sedans and SUV+MUV): The overall industry holds a similar number of Hatchbacks and SUV and MUV in their fleet as the demand for them are very high. Sedan cars are the least used cars and amounts to a small share in the market.

By Segments of Cars (Standard and Luxury): Luxury cars are the high end cars provided by a rental company, and are mostly based on style and performance. These types of cars provide maximum comfort and style.

By Status of Ownership (Owned and Lease Contract): The companies who were initially working in this segment used to expand their fleet by purchasing cars from manufacturers or owners of the cars. As a result, owned segment dominated during FY’2019.

The Self Drive Car Rental market in India is in its Growth stage. The market is currently less than 6 years old as first operations which were established by companies such as Myles in FY’2014 provided limited growth in the market. Entry of players such as Zoomcar, JustRideIt, Avis and Revv helped the market to grow and helped to shape the industry up. These companies were followed by other players such as Jiffy Cars, Zip Cars, Eco Rent a car and international expansion of a Japanese firm ORIX called MyChoize. These market players compete on the basis of Fleet Size, Number of Pick up Points, Car Portfolio, Custom services provided, after sale services, Complementary services, Area of Operations.

Future Outlook and Projections

The Self Drive Car Rental market in India is in its Growth stage. The market is currently less than 6 years old as first operations which were established by companies such as Myles in FY’2014 provided limited growth in the market. Entry of players such as Zoomcar, JustRideIt, Avis and Revv helped the market to grow and helped to shape the industry up. These companies were followed by other players such as Jiffy Cars, Zip Cars, Eco Rent a car and international expansion of a Japanese firm ORIX called MyChoize. These market players compete on the basis of Fleet Size, Number of Pick up Points, Car Portfolio, Custom services provided, after sale services, Complementary services, Area of Operations.

Key Segments Covered:-

GTV

Organized Sector

By Cities of India (Bangalore, Delhi Mumbai and Others)

Unorganized Sector

Number of Bookings

By Booking Channel (Mobile, Online and Physical)

By Booking Package (Hourly, Daily, Weekly and Monthly)

By Usage (Intercity and Intracity)

By Booking Period (Weekends and Weekdays)

Fleet Size

Organized Sector

By Types of Cars (Hatchback, Sedan, SUV+MUV)

By Segment of Cars (Standard and Luxury)

By Status of Ownership (Owned and Leased)

Unorganized Sector

Key Target Audience:-

Startups and Private car Owners

Offline Dealers

Online Self Driving Car Rental Portals

Organized Multi Brands Dealers

OEM Certified Dealerships

Corporate Clients

Private Equity and Venture Capitalist Firms

Industry Associations

OEM Manufacturers

Automotive Manufacturers

EV Service Provides

Hotel Chains

Airport Authorities

Car Auction Companies

Time Period Captured in the Report:-

Historical Period – FY’2014-FY’2019

Forecast Period – FY’2019-FY’2024

Major Companies Covered:-

Zoomcar

Drivezy

Revv

Myles

Avis India

MyChoize (ORIX)

Eco Rent a Car

Zip Cars

Jiffy Cars

Voler Cars

Key Topics Covered in the Report:-

Market Overview and Genesis for India Self Drive Car Rental Market

Share of Self Drive Car Rental Expenses in Total Domestic Road Trip Cost, FY’19

Global Performance of Self Drive Companies (USA, China, Brazil, India), FY’2019

Working Model for Indian Self Drive Car Rental Company

India Self Drive Car Rental Market Size, FY’2014-FY’2019

By Gross Transaction Value

By Fleet size

Market Segmentation of India Self Drive Car Rental Market

By Market Structure: Organized and Unorganized

By Cities of India: Bangalore, Delhi Mumbai and Others

By Booking Channels: Mobile, Online and Physical

By Booking Package: Hourly, Daily, Weekly, And Monthly

By Usage: Intercity and Intracity

By Booking Period: Weekends or Weekdays

By Types of Car: Hatchback, Sedan, SUV+MUV

By Segments of Cars: Standard and Luxury

By Ownership Status: Owned and Leased

Consumer Profiles of the User Base on the basis of Age, Occupation and Gender

Trends and Developments of Indian Self Drive Car Rental Market

Issus and Challenges of Indian Self Drive Car Rental Market

Government Regulations In India Self Drive Car Market

Security Mechanism and Movement Tracking Devices In India Self Drive Car Rental Market

SWOT Analysis Of The India Self Drive Car Rental Market

Market Analysis Of India Self Drive Car Rental Market

Competition Analysis Of Major Organized Players In India Self Drive Car Market

Strength and Weakness of Major Companies

Cross Comparison on the basis of Key Parameters

Heat Maps

Analysis of Cancellation Charges of the Major Players

Company Profiles of Major Companies in India Self Drive Car Rental Market

Future Outlook of India Self Drive Car Rental Market in India

Analyst Recommendations

For information click on the below mentioned link:-

India Self Drive Car Rental Market

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