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Russia Car Rental and Taxi Market is Driven by Falling Taxi Fares, Increasing Use of Smartphone and Rise in the Cab Aggregator Business: Ken Research

Posted on 24 January 2018 by KenResearch

Legalized taxi services and availability of convenient services for all type of clients will drive the demand for taxi and self drive car rental in future and are expected to undergo substantial technology disruption in terms of driverless car, connected car, remote monitoring and improved navigation. 

Car rental market in Russia is moving towards the organized sector with increasing participation of drivers opting for registered taxis and permits. New regulations coming into force and competition with existing players further make the working of illegal taxis more difficult. Post 2014, using a taxi in Moscow has become cheaper and the estimated average waiting time is reduced to seven minutes in 2017. The market is on the continuous growth path registering a positive growth. Last two years (2015-2017) saw a stiff price war between app based cab aggregator which affected the fares in overall taxi market. More companies started adopting the internet facility to facilitate cab booking.

Growth in number of internet users and smartphone users had been significant in the last five years. As smart phone users increases, the type of services on offer is also changing which was evident from increased investment in app based taxi companies and self drive car rental where user can take a car for ride on per minute basis. Cars are made available across the city and one can use it after registration with the company.  Falling price of ride due to price war among leading players, better cars and bargain free transparent pricing drove the market during the period of estimation. Number of people using app based booking is more in Moscow and other large cities and is expected to be the main link for connecting the cars to the customer. Poor traffic management had been the key hurdle for use of taxis and cars especially in Moscow which is the largest market.

According to Ken Research report titled Russia Car Rental Market by Type (App Based Taxi Aggregator, Self Drive Rental Car, Chauffer Driven Rental and Taxi Services), and by Off-Airport On-Airport Outlook To 2022app based self drive car rental booking, shift of dispatcher services to online and app mode will be the key growth catalyst in future.

For more information on the research report, refer to below link:

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/russia-car-rental-market/142799-100.html

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

 

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Russia Car Rental Market is Expected to Reach Around USD 13 Billion in 2022: Ken Research

Posted on 24 January 2018 by KenResearch Automotive, Transportation and Warehousing ,

Russia Car Rental market by type (Chauffer driven car rental and taxi service, app based cab aggregator and self driven car rental), by region (Moscow Region, St. Petersburg Region, Cities with Population more than 1 million, Cities with Population Between 0.5-1 Million and Others), by on- airport and off airport. App based taxi aggregator by type of car (budget, comfort and executive). Self drive car rental by type of booking (online and offline), by type of demand (Business, Leisure and Insurance replacement). Company Profile of Major players in Chauffer driven car rental (Lingotaxi, logitaxi, Kiwitaxi, Maxim, Vezyot, Citymobil), Self drive car rental company (Hertz, Avis, Europcar, Sixt, EleksPolys, Delimobil, Belka car and Other), App Based Cab aggregator (Yandex, Gett, Altocar, Indrive, and Wheely)

 January 2018 |Russia News 

  • App based Taxi Service market is expected to witness consolidation with dispatcher and independent taxi companies coming under its gambit
  • Internet based services in taxi hailing, ride sharing, and car rental is expected to gain sufficient boost with major portion of business coming through online booking.
  • Driverless cars, Karshering, Car pooling, use of electric vehicles and bike rental are some key segments that have potential to disrupt the market in future.

App based taxi growth will be mainly driven by rise in fare prices of taxi, conversion of dispatcher business into app based business and growing penetration of internet and smart phones. Increased competition from new players entering the market as well as fast changing technology is expected to further disrupt the market. Long term and short term rental car market will largely be able to retain their market. However it is expected that majority of the transactions will move online. Majority of the dispatcher service business will be converted into app based cab booking service.

Market will be driven by improved services, traffic conditions, internet penetration and falling cost of internet and smart phones. Improving technology and added features in phone will further promote use of technology for booking, navigation, payments and others.

Analysts at Ken Research in their latest publication Russia Car Rental Market by Type (App Based Taxi Aggregator, Self Drive Rental Car, Chauffer Driven Rental and Taxi Services), and by Off-Airport On-Airport Outlook To 2022 believe that promoting better regulations, involving participation of taxi association while formulating laws and ensuring strict implementation of rules will aid the taxi market. R&D in developing better navigation system and remotely unlocking a car for connecting car and customer will have positive impact on market.

Russia car rental market is expected to register positive CAGR of around 9% during the period 2017-2022. Commitment to regularize market, transparent pricing and technological knowhow along with improving market consolidation are expected to have positive impact on the demand for taxi and related services.

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For more information on the research report, refer to below link:

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/russia-car-rental-market/142799-100.html

Related Reports

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

Romania 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

Turkey 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

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

 

...

Read more…