Online Car Booking Supported by Advanced Technology will Majorly Drive the Growth of South Africa Car Rental Market during 2018-2022: Ken Research
Posted on 08 January 2018 by KenResearch Automotive, Transportation and Warehousing,
The report covers various aspects such as overall market size of South Africa 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 South Africa 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 South Africa. The report also covers the competitive landscape of the industry and comprehensive profile of leading players (Barloworld Ltd, Imperial Car Rental Ltd, Hertz Corp, McCarthy Ltd, CMH Car Hire (Pty) Ltd, Safy Group) operating in the market. The report concludes with future outlook and projections of South Africa 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 South Africa.
2018 | South Africa News
- Growth of inbound tourism in the country, increasing demand from business segment and increasing awareness of online booking will majorly account for the growth of South Africa car rental market in upcoming years.
- Offline as a mode of booking accounted for around 72% of the overall transaction value during 2017. Online as a mode of booking is expected to register double digit growth rate in upcoming years which will change the shape of the car rental industry in the forecasted period.
South African car rental industry is expected to grow at a moderate growth rate during the forecasted period on the back of growing competition in the industry, increasing fleet size of the companies and increasing market penetration of online bookings over the years. The development in the car market of the country directly impacts nation’s economy and industrial growth. The future growth of the online car rental market can be expected to be favorable since this industry has witnessed growth in the domestic sales of used cars and automobiles over the review period. The car rental companies have been focusing on improving their services to compete with new players entering the market which has resulted in many offline players to develop online portals for rental services, reduce rental rates to attract customers and improve their operational efficiencies.
The concept of e-booking or online booking of car rental has benefited the travelers to plan and book their cars in a much quicker and easier way. Furthermore, travelers also have the benefit of evaluating the alternatives before booking the rental cars online. The online car rental industry is further expected to grow which in turn would reduce the contribution of station renting prominently in future. The entry of peer-to-peer platforms such as Uber is expected to see more business travelers using cab aggregator services instead of hiring cars for rental purposes. Uber has launched its ride sharing services in late 2016 and as these services catch hold of the customers, the car rental market is expected to grow at a moderate rate in near future.
Internet and Smartphone users in South Africa, increasing international inbound arrivals and domestic tourists and growing working population in South Africa are some other key factors that may have positive impact on the market, according to the Analyst at Ken Research.
Ken Research in its latest study, South Africa 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, suggests that demand for car rental in the country will grow at a positive growth rate owing to growth in automobile industry coupled with growing demand from working age population.
Key Topics Covered in the Report
Car rental in South Africa
Value Chain Analysis South Africa Car Rental Market
South Africa car rental market size
South Africa Cab Aggregators’ Revenue
Major Players in South Africa Car Rental Market
Car Rental Companies in South Africa
Competition in South Africa Car Rental Market
South Africa Self Driving Car Market Revenue
Non Chauffer Rental Car Market South Africa
South Africa Car Rental Market Future Growth
Barloworld Ltd Car Rentals Market Share
Imperial Car Rental Ltd Fleet Size
Hertz Corp Revenue from Car Rental
McCarthy Ltd competitors
Future of South Africa Car Rental Market
Upcoming Trends in Car Rental Market South Africa
Market share leading companies South Africa Cab Aggregators
International domestic tourism South Africa
Growth South Africa Bike Rental Industry
South Africa Cab Sharing Market
Ride Sharing Market South Africa
For more information on the research report, refer to below link:
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Ankur Gupta, Head Marketing