How Car Leasing Market Is Positioned In Australia?
The Australia car leasing market was observed at its late growth stage, and the competition in the market was concentrated with ~ fleet management organizations within Australia. The market experienced growth during the review period 2013-2018, driven by the high fleet requirements of end-user industries such as mining, construction, telecommunications, and the government. Growth was also driven by the increase in the setting up of SMEs in the country, with New South Wales, Victoria and Queensland being popular business and commercial hubs.
Australia Car Leasing Market Segmentation
By Type of Car (Ute, Sedan, SUV and Luxury): The leasing segment of the market has been dominated by the utility vehicle, which is a tool of the trade vehicle used primarily by mining, construction, engineering and logistics industries in Australia. The Ute serves the dual purposes of raw material transportation as well as carrying people for company site visits.
By End-User (Mining, Construction & Engineering, Government, Tele-communications and others): Demand for Leases was primarily driven by the Mining Industry in Australia, which requires company cars for raw material transportation and site visits. Additionally, the government has outsourced its leasing contract to a fleet management organization.
By Region (New South Wales, Victoria, Queensland, Western Australia and Other States): New South Wales, Victoria and Queensland is the most populous states in Australia ensuring a high demand for car leasing in the states. Business hubs of Australia include New South Wales, Victoria and Queensland primarily, with these states attracting a high demand for corporate car leases and vehicles. New South Wales in particular, is densely populated with small and medium enterprises with as many as ~ enterprises registered as of the year-end 2018.
How Car Rental Market Is Positioned In Australia?
The car rental market in Australia saw slow growth over the period, 2013-2018, as it faces competition from car-sharing and rides sharing as alternate services. The market was majorly driven by inbound tourist arrivals in Australia which were encouraged by the weak state of the Australian Dollar. Major Tourists were from China, Europe, the US and the subcontinent with tourists preferring the country over Europe due to the uncertainty related to Brexit and the political scenario in Europe.
The industry was witnessed as a seasonal one, with the majority of the demand for rental incoming during the summer months and the Chinese New Year. The winter months were low demand periods with rental operators encouraging corporate demand through heavy discounts and value-added services? Car rental companies in Australia dealt with competition from alternate forms of mobility such as Ride-Sharing and Car Sharing, which targeted flexibility and quickness as customer pain points in car rental. Apart from Inbound Tourists, domestic tourists formed a chunk of the demand for rental as rental cars were used for inter-state trips and family outings. Other rental users included corporate state users which grew as the number of enterprises in Australia rose.
Australia Car Rental Market Segmentation
By Type of Car (SUV, Sedan, and Ute): The rental segment of the Australia market has been dominated by SUVs and sedans which are primarily rented out by tourists, both inbound and domestic. Tourists prefer small cars as they are uncomfortable with driving high size vehicles. Utes are rented out less frequently and are rented out by businesses for transportation or week-long company trips.
By Rental Purpose (Leisure and Business): Car Rental in Australia was majorly used for leisure purposes and primarily driven by tourist demand, including both inbound and domestic tourists. This was in particular driven by the Tourism 2020 plan by Australia Tourism, which aimed at enhancing the overnight spend of international and domestic tourists in the country. The other major category formed was business use wherein corporate rental and business rental were included. The corporate rental was driven by short company trips and site visits wherein companies were provided with discounts and additional options on rental.
By Booking Mode (Online and Offline)
Car Rental in Australia was primarily booked online, with users preferring to make online bookings before-hand instead of accessing a rental car at the rental outlet. Users accessed certain car rental comparison and aggregator sites which listed the services provided by various car rental operators, specially catered to the requirements of the user. Users preferred online booking over offline and call-based booking due to the inherent convenience in online bookings and the quickness of the transaction and the booking process. Moreover, with the stress of Personal Information Disclosure in the industry, rental operators encouraged their users and customers to book online to ensure complete transparency and complete knowledge for both the company and the user.
Key Segments Covered in Australia Car Rental and Leasing Market
Australia Car Leasing Market
By Type of Car
Ute
Sedan
SUV
Luxury
By Region
New South Wales
Victoria
Queensland
Western Australia
Other States (Tasmania and South Australia)
By End User
Mining
Construction and Engineering
Government
Telecommunications
Others (Logistics and Utility Industry)
Australia Car Rental Market
By Type of Car
SUV
Ute and LCVs
Sedans
By Rental Purpose
Leisure
Business
By Booking Mode
Online
Offline
Australia Ride Hailing Market
By Type of Ride
Sedan / Economy / Mini
SUV and Ute
Luxury
By Hailing Purpose
Airport
Leisure
Office
By State
New South Wales
Victoria
Queensland
Western Australia
Other States (Tasmania and South Australia)
Time Period Captured in the Report:-
Historical Period: 2013-2018
Forecast Period: 2019-2023
Key Target Audience
Car Rental Companies
Fleet Management Organizations
Cab Aggregators or Ride Sharing Companies
Car Sharing Companies
Car Dealers
Consumer Finance Organizations
Automobile and Mobility Organizations
End User Industries
Companies Covered:-
Car Leasing Companies
LeasePlan Australia
Eclipx Group
SG Fleet
Custom Fleet
Toyota Fleet Management
ORIX
Summit Fleet
Car Rental Companies
Avis Australia
Hertz Australia
Budget Australia
Thrifty Australia
Europcar Australia
Cab Aggregators
Uber
Ola
DiDi
GoCatch
Taxify (Bolt)
Key Topics Covered in the Report:-
Australia Car Leasing Market Share
Australia Cab Aggregator Market
Fleet Vehicle Leasing Market Australia
Vehicle Procurement in Australia
Rented Vehicles Market in Australia
Australia City Car Rental Market
Australia Car Rental Market
Australia Car Rental Market Revenue
Car Rental Market in Australia
SUV Rental Market in Australia
Australian Cab Aggregator Revenue
Car Rental Space in Australia
Uber Operations in Australia
Owned Vehicle Market Australia
Growth of Car Sales in Australia
Car Sharing Market in Australia
To Know More, Click On The Link Below:-
Australia Car Leasing and Rental Industry
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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
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