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 Sector”
provides a comprehensive analysis on the car rental market of the Philippines.
The report covers various aspects including Business Models, Company Profiles,
Competition Scenario, Cross Comparisons, Segmentation, Regulatory Environment,
Growth Drivers, Issues and Challenges of Car Rental, Car Leasing and Cab
Aggregator along with a Snapshot on Yellow Taxi. The report concludes with
market projections and analyst recommendations, highlighting the major
opportunities and cautions.
Market Overview
Philippines Car
Rental Market
Philippines
Car Rental Industry Revenue has grown at a positive CAGR during the period 2013-2018.
This growth was supported by the increase in the number of tourist arrivals in
the country, government initiatives to promote tourism and rise in fleet size
along with general economy and business trip growth. The market faces challenges
such as the inconsistent local transportation, highly congested roads and unsafe
driving practices. The car rental market is concentrated with a few players. Major
global players such as Avis, Hertz, Nissan Rent-A-Car and Europcar are well
established in the market. Economy cars dominated the market of car rentals in Philippines
in the year 2018. The segment has grown due to its affordability, more compact
cars on the roads due to increasing traffic problems and increasing business
related trips to the country. Car rental for leisure purpose contributed a major
share for the industry in 2018. Rented cars are majorly demanded by tourists
who visit the country for holidays or recreational purposes. Luzon contributed
the highest revenue share in the overall car rental market in Philippines in
the year 2018. Luzon provides the maximum business to car rental industry owing
to its high population, diverse tourist attractions and business
establishments.
In the future,
it is expected that the demand for rented cars will be augmented largely due to
the growth in the tourism industry, supported by the government initiatives and
improvement in infrastructure, construction and real estate sector in the
country.
Philippines Cab
Aggregator Market
Philippines
Cab Aggregator market is at the growing stage supported by the factors such as,
mobile phone and internet penetration, affordability offered by ride sharing
service, consistent means of transportation, professional service offered by
the cab drivers, convenience experienced by customers while booking cabs
through internet based applications.
The
market faces challenges such as slow speed of internet, less coverage in the
non metropolitan regions and a monopolistic environment for the new companies
to establish. Grab has a monopoly in the Cab Aggregator Market. The maximum number
of cabs is mainly in the metro cities due to the better access to the internet
facility and high demand from the daily commuters as the public transportation
is weak in the region.
Philippines Car Leasing
Market
Philippines
Car Leasing market is at the growing stage supported by the rise in demand by
legal entities, and influx of Chinese immigrants following the Pro China Policy
of Philippines. The market faces challenges such as companies engaging in price
wars, absence of a regulatory body and car leasing companies facing problems
while reselling the used vehicles. The car rental market is concentrated with a
few players such as Nissan Rent- A- Car, Europcar and Hertz. Sedans dominated the market of car leasing
in Philippines in the year 2018. The segment is driven by the factors such as corporate
leasing for employee commute and rise in business activities where Sedans are
preferred due to affordability. Three year lease period contributed the most to
the overall market of car leasing market in Philippines in the year 2018. The
segment is majorly preferred as after the duration of three years, the
additional cost (maintenance, insurance and repairs) rises, also, the client
does not have to bear the cost of finding a new vendor each year and upgrade to
newer models. In future, it is anticipated that Philippines car leasing industry
revenue will increase at a positive CAGR during the period 2018–2023E. In
Philippines, it is expected that the demand for leased cars will be further
augmented largely due to the cultural habit of local people of the country to
experience newer car models, higher expat ratio and introduction of electric
vehicles in the country.
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
Key Topics Covered In this report:-
Philippines
Car Rental Market
Philippines
Car Rental Industry
Philippines
Vehicle Rental Industry
Philippines
Car Rental Market Revenue
Philippines
Car Rental Market Major Players
Car
Leasing Market Philippines
Electric
Vehicle Market Philippines
Cab
Aggregator Market Philippines
Uber
Company Profile Philippines
Budget
Car Rental Philippines Fleet
Diamond
Rental Car Market Philippines
Philippines
SUV Car Rental Market
Philippines
Premium Car Rental Market
For More Information, Refer To Below
Link:-
Related Reports:-
Contact
Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
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