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South Africa Car Rental Market is led by Growth of Online Bookings Coupled with Entry of New Domestic and Global Car Rental Players in the Market: Ken Research

Posted on 09 January 2018 by KenResearch Automotive, Transportation and Warehousing ,

Depreciation of South African Currency, Growing Working Age population and rising penetration of internet and Smartphone will be the major growth drivers of South Africa car rental market in upcoming years.

South Africa’s car rental market is mature, with the existence of large number of global brands having established a presence in the country. The car rental industry in the country is driven by its good road infrastructure which has resulted in easy travel to many key tourist destinations. Major demand for car rental was witnessed in the summer season owing to huge tourist influx in the country. Although leisure car rental is important to the category, car rental market was driven by business car rental due to the consistent bookings from corporates. The industry witnessed increasing number of business travelers attending events such as meetings, exhibitions, workshops and conferences which boosted the transaction value within the category during 2017. In recent years, the country witnessed increasing prominence of ride sharing, car sharing and online booking market which has aided the overall growth of car rental industry in South Africa.

The car rental industry in the country has been growing at a positive growth rate but the industry has been facing operational issues owing to depreciation of the South African currency. The depreciation has negatively impacted new vehicle pricing in the country which has indirectly affected the rental rates of cars. But, the depreciation of the currency has aided the industry in some aspects as it has attracted tourists from foreign countries to come and visit SA. The car rental companies in the industry have been focusing on partnering with travel industry players in order to boost their sales. Over the review period, the industry witnessed the entry of peer-to-peer platforms such as Uber which has affected the short-term corporate travel. The new entrants have been witnessing intense competition from domestic car rental service providers, which have resulted in implementation of varied services such as chauffeur-driven services.

The report titled “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” by Ken Research suggested that growing demand for online booking applications backed up with market penetration in untapped markets will majorly contribute to the overall revenue growth of South Africa car rental market in next 5 years till 2022.

Source: https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/south-africa-car-rental-market/142322-100.html

Contact Us:
Ken Research
Ankur Gupta, Head Marketing
 sales@kenresearch.com
+91-124-4230204

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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:

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/south-africa-car-rental-market/142322-100.html

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Thailand Car Rental Market Outlook to 2021 - Increasing Traffic Congestion and Rising Number of Corporate Clients to Amplify the Market Growth

Indonesia Car Rental Market Outlook to 2021 - Rising Tourism and Growing Middle Class Population to Foster Future Growth

Contact Us:
Ken Research
Ankur Gupta, Head Marketing
sales@kenresearch.com
+91-124-4230204

...

Read more…