Self-drive Car Rental Market in Emerging Countries 2016-2020
About Self-Drive Car Rental
The self-drive car rental market in the emerging countries is mainly driven by factors such as government restrictions regarding private car ownerships and increased access to technological advancements like the internet and smartphones. The ownership of private vehicles has increased considerably in the urban areas and large cities of the emerging nations, leading to environmental pollution and traffic congestion. In China, policymakers in large cities have adopted their unique solutions to address the problem. One such example is the car ownership control policy. The policy imposes a direct restriction on the number of registered private car ownership. This has been successful in controlling the proliferation of car ownership, reducing the number of cars on the road.
Technavio’s analysts forecast the self-drive car rental market in emerging countries to grow at a CAGR of 22.30% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the self-drive car rental market in emerging countries for 2016-2020. To calculate the market size, the report considers the the total number of fleet size, total number of rides per rental car in a year, and the average revenue of the rental companies operating in their respective regions.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Self-Drive Car Rental Market in Emerging Countries 2016-2020
Technavio recognizes the following companies as the key players in the self-drive car rental market in the emerging countries: Zoomcar, Avis, Hertz, CAR, and Localiza.
Other Prominent Vendors in the market are: Myles, Let Me Drive, Car Club, and Eco Rent a Car.
Commenting on the report, an analyst from Technavio’s team said: “OEMs like General Motors and Ford are racing to create their own fleet of self-driving cars. However, to understand the basic groundwork of the car rental market, OEMs are entering partnerships with the self-drive car rental companies and managing their fleet. This places the OEMs at a strategical position where they get to experience and understand the issues and opportunities regarding ferrying people from location to location and road specific conditions and obstacles faced by the drivers.”
According to the report, government regulations for fossil-fuel powered cars is likely to drive demand in this market. The self-drive car rental market in China currently consists of 63.94% of the total market in the emerging countries. Changes occurring in the Chinese self-drive car rental market would have a significant effect on the total self-drive car rental market. China has been plagued by the rising pollution levels and heavy congestion on its roads. The country has been implementing various regulations to limit the number of private cars on the roads to reduce congestion and limit pollution.
Further, the report states that In China and India, many people depend on public transportation for commuting. Transportation for about 203 million licensed people who do not own cars in China depends on public transportation or car rentals. However, the number of people opting for on-demand taxi operators are increasing due to government restrictions regarding owning a private car, lack of parking space for a self-drive rental car, and aggressive discount offers given by the on-demand taxi operators to capture more customers.
Zoomcar, Avis, Hertz, CAR, Localiza, Myles, Let Me Drive, Car Club, Eco Rent a Car.
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