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Philippines Car Rental Market is driven by Rise in Urban Population, Changing Social Habits of Local People and Emergence of New Players: Ken Research
April 2019

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“A steady increase in the demand for premium category cars and an increase in migrants from China due to a Pro China Policy have been driving the Car Rental Market in Philippines”.

Increase in the Number of Tourist Arrival: There has been an increase in the number of tourists arriving in the country. From 4.7 million in 2013, the number of tourists arriving in the country has increased to 7.1 million to 2018. Influx of higher number of people has positively contributed to car rental business owing to increased demand for rental cars for business trips, travel purpose and on/off airport travel.

Monopolistic Environment in the Cab Aggregator Market: Following the acquisition of Uber by Grab, the market has been led by Grab with a dominant share in the overall market. Although, new companies have recently entered the cab aggregator market in the Philippines, it has been difficult for them to capture the market due to the strong hold of Grab in the cab aggregator space.

Corporate Leasing:  Market has witnessed increased demand for leased vehicles by legal entities, as leasing provides many benefits including low monthly payments, tax benefits, prestige of having new cars after every few years and no maintenance fees.

Challenging Driving Conditions: The market is hampered by the severe traffic problem (especially in Metro Manila) and unsafe driving practices in the country. There is also lack of space for parking the vehicles in the major metro cities. All these factors have contributed to the rise in demand for car rental and cab aggregator market in Philippines.

The report Titled Philippines Car Rental, Car Leasing, Cab Aggregator and Yellow Taxi Market Outlook to 2023 – Driven by Planned Fleet Addition and Growth in Tourism and Construction Sectorby Ken Research suggestedthat the car rental market in Philippines has been growing due to increasing competition amongst the major domestic players. Car Rental Industry Revenue is expected to grow at a CAGR of 7.2%. Car leasing industry revenue is expected to grow at a CAGR of 6.9% and Cab Aggregator market is expected to grow at a CAGR of 12% during the period 2018-2023.

Keywords:-

Philippines Car Rental Market Research Report

Car Leasing Market Philippines

Cab Aggregator Market Philippines

Philippines Yellow Taxi Industry

Uber Company Profile Philippines

Grab Philippines Fleet Size

Budget Philippines Fleet

Hirna Car Rental Market Philippines Revenue

Diamond Rental Car Market Philippines

Car Leasing Market Challenges Philippines

Car Leasing Revenue Philippines

Cab Aggregator Trends Philippines

Car Rental Market Issues Philippines

Philippines Cab Aggregator Market Future

Philippines Car Leasing Market Future

Key Segments Covered:-

Car Rental Market By

Purpose of Hire

Leisure

Business

Insurance Replacement

Region

Luzon

Visayas

Mindanao

Type of Car

Economy

SUV/AUV

Premium

Booking Type

Offline

Online and App Booking

Car Leasing Market

Duration of Lease

First Year

Second Year

Third Year

Four Year or More

By Region

Luzon

Visayas

Mindanao

Sedans

Type of Car

Sedans

SUV/AUV

Premium

Cab Aggregator Market

Region

Metropolitan

Non Metropolitan

Yellow Taxi (Key Parameters and Fleet Size)

Key Target Audience:-

Car Rental Companies

Cab Aggregator Companies

Car Leasing Companies

Automobile Companies

Tourism Companies

Corporate Sector

Hospitality Sector

Time Period Captured in the Report:-

Historical Period: 2013-2018

Forecast Period: 2018-2023E

Companies Covered:-

Avis

Budget

Nissan

Europcar

Hertz

Orix

Diamond Rental

Grab

Owto

Hirna

Go Lag

U Hope

Micab

For More Information, Refer To Below Link:-

Philippines Car Rental Market

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Poland 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 (Small, Medium And Large) And By Major Regions - Outlook To 2022

Kuwait Vehicle Leasing Market Outlook To 2023 - By Vehicle Type (Suv/Muv, Sedan, Pickups And Luxury Segment) And By End Users (Oil & Gas, Government, Construction, Logistics And Transportation, Telecom And Electrical And Others)

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249