Showing posts with label Indonesia Car Rental Sector. Show all posts
Showing posts with label Indonesia Car Rental Sector. Show all posts

Thursday, January 12, 2023

Indonesia Car Rental Market Analysis, Trends, Revenue Outlook to 2027: Ken Research

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Indonesia Car Rental Market Ecosystem

Indonesia’s Car Rental Market is in the growing stage, being driven by new car rental companies along with increasing tourism in the country and more internet penetration in rural areas of the country. Major players in the car rental market of Indonesia include The Hertz Corporation, Blue Bird Group, TRAC.

Key Market Findings: -

  • Growth rate of total car rental is going to increase over the period as car leasing becomes easier, and market penetration rates increase in the country.
  • With rising internet penetration and ownership of smartphones, it is expected that customers will make bookings online as it is more convenient for bookings with additional discounts and saving time.
  • The tourism sectors in cities like Jakarta and Bali are expanding, which is expected to have a beneficial impact on the Indonesian car rental market growth.

Indonesia Car Rental market

To Know More about this report, download a Free Sample Report

Introducing New Services and Improving Entertainment Options: The Indonesia Car Rental Market will expand in the coming years as a result of the increased focus of car rental companies on corporate clients, an increase in foreign travellers, and so on. The current participants in the Indonesian car rental market are in the process of introducing new services and improving entertainment options, such as adding an LED screen for clients to avoid exhausting them in their city's traffic jams and GPS tracking of the journey. As more businesses offer car rental services each year, the type and caliber of these services advance in the market to compete.

Investment in the car rental service market: The government's initiative to attract tourism to the country is expected to contribute to overall market growth. The Indonesian Tourism and Creative Economy Ministry, for example, is investing in its national tourism sector with the goal of developing sustainable and community-based tourism. The investments are expected to boost the development of five super-priority tourism destinations, eight special economic zones, and twelve sustainable tourism projects, which will increase demand for car rental services in the coming years, resulting in tremendous growth in the market during the forecast period.

Increase in Electric vehicle manufacture: The share of EVs is expected to increase many folds as Indonesia plans to shift to electric mobility and plans to begin subsidizing electric vehicle purchases next year as the country aspires to have 2.5 million EV users by 2025 to boost demand and reduce air pollution. Other key drivers that are expected to boost this market in the short to medium term include growing mobility needs, an increase in the number of SMEs, an overall positive attitude among corporates, an increase in middle-management customers, high vehicle acquisition costs, favorable regulations, and the growth of ridesharing and car sharing.

Analysts at Ken Research in their latest publication Indonesia Car Rental Market Outlook to 2027F - Segmented by Market Structure (Organized Market and Unorganized Market), By Type of Vehicles (Small Cars/Hatchbacks, Sedans, SUV and Others, By Ice/EV (Ice (Internal Combustion Engine) And Electric Vehicles, By Cities (Jakarta, Surabaya, Bali, Yogyakarta), By Mode of Booking (Online and Offline), By Client (Business and Leisure and By Pick-Up (On-Airport and Off-Airport)observed the potential of the Car Rental Market in Indonesia. The expansion of the tourism industry with rising foreign tourists in Indonesia and On- Demand for transportation, the rising internet population in the country, and increasing demand from customers along with government incentives on electric vehicles are expected to contribute to the market growth over the forecast period. The Indonesian Car Rental Market is expected to grow at ~% CAGR over the forecasted period 2022-2027F.

Key Segments Covered: -

Indonesia Car Rental Market:

By Market Structure:

  • Organized market
  • Unorganized market

By Type of Vehicles:

  • Small Cars/ Hatchbacks
  • Sedans
  • SUVs
  • Others

To more about industry trends, Request a free Expert call

By ICE/EV:

  • ICE (Internal Combustion Engine
  • Electric Vehicles

By Cities:

  • Jakarta
  • Surabaya
  • Bali
  • Yogyakarta
  • Others

By Mode of Booking:

  • Online
  • Offline

By Client:

  • Business
  • Leisure

By Pick-up:

  • Off-Airport
  • On-Airport

Key Target Audience

  • Car Rental Service Providers
  • Car Rental Companies aiming to establish in Indonesia
  • Indonesia’s automotive industries
  • Government Bodies & Regulating Authorities
  • Venture Capitalist targeting the car rental market
  • Automotive industry association
  • Car Manufacturers
  • Existing Car Rental Companies
  • OEM Dealerships
  • New Market Entrants
  • Investors
  • Car Rental Associations

Time Period Captured in the Report:

  • Historical Year: 2017-2022
  • Base Year: 2022
  • Forecast Period: 2022– 2027F

Companies Covered:

Car Rental Company

The Hertz Corporation

Blue Bird Group

TRAC

Mitra Pinasthika Mustika Rent

Adi Sarana Armada Tbk

Avis

Europcar Indonesia

Globe Rent a Car

Visit this Link Request for a custom report

Key Topics Covered in the Report

  • Overview, Operating Models and Company Profile of the Automotive Industry in the Indonesia, 2022
  • Overview and Genesis of Car Rental Market in Indonesia, 2022
  • Ecosystem of Indonesia Car Rental Market
  • Business Cycle, Timeline, and Value Chain Analysis of Car Rental Market in Indonesia
  • Indonesia Car Rental Market Sizing, 2017- 2022P
  • Market Segmentations of Car Rental Market in Indonesia (by Market Structure, by Type of Vehicle, by ICE/ EV, by Mode of Booking, by Pick-up, by Client, by cities), 2022
  • Indonesia E-Commerce Warehousing Overview, 2021
  • SWOT Analysis of Indonesia Car Rental Market
  • Growth Drivers of Indonesia Car Rental Market
  • Government regulations of Indonesia Car Rental Market
  • Government Incentives and Policies on Electrification in Indonesia
  • Trends and Developments of Indonesia Car Rental Market
  • Challenges of Indonesia Car Rental Market
  • Competitive Analysis of Car Rental Market in Indonesia
  • End User Analysis of Car Rental Market in Indonesia
  • Future Outlook and Projections of Car Rental Market in Indonesia, 2022-2027F
  • Market Opportunities and Analyst Recommendations

For more insights on the market intelligence, refer to the link below: -

Future Outlook of Indonesia Car Rental Market

Related Reports by Ken Research: -

Netherlands Car Rental Market Outlook to 2027F

Saudi Arabia Car Rental and Leasing Market Outlook to 2023

South Africa Car Rental and Leasing Market Projections to 2023

Wednesday, December 28, 2022

The Rising Number of Foreign Tourists in the country and various Government Initiatives are the major driver of the Indonesian car rental market: Ken Research

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Driven by the various initiatives by the government for increasing the travel and tourism industry and increasing internet penetration, the car rental market in Indonesia has ample growth potential in the coming years.

Significant growth in travel and tourism: The Indonesian car rental market is currently expanding. The pandemic has caused a precipitous drop, which has had a negative impact, particularly on fleet size, as most players' fleets have shrunk many folds from their previous size. Significant growth in the country's travel and tourism industry is one of the key factors driving the market growth. Furthermore, the growing number of foreign tourists in the country drives the Indonesian car rental market. Furthermore, the rise in consumer disposable income, combined with the influence of a high standard of living and increased spending on luxury travel, is propelling the Indonesian car rental industry.

The growing trend of on-demand transportation services: In recent years, the impact of technological advancements have revolutionized the industry. The increasing use of smartphone-based online rental car booking apps is significantly contributing to market growth. With the help of online booking mobile applications for the convenience of customers, companies in the market have been able to capture a large customer base. Improved customer and corporate information management, as well as simple internet booking applications, are two prominent ways to help car rental service operators provide better services. Furthermore, factors such as the growing trend of on-demand transportation services and the low rate of car ownership among millennials have fueled the growth of the Indonesian car rental market.

Indonesia Car Rental Industry Share

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Shift to Experience Economy: There has been a paradigm shift away from products and toward experiences in recent years. Consumer durables and clothing spending have slowed, while experiential spending on recreation, travel and eating has skyrocketed. As a result, the demand for commodities outnumbers the demand for travel. Now, the growth has coincided with an increase in both domestic and international outbound tourists. The aforementioned factors are key drivers for the Indonesian leisure activity market, which will further boost the growth of the Indonesian car rental service market. Furthermore, because Jakarta is a popular convention destination, the leisure activity segment has significant market potential throughout the forecast period.

Covid-19 Impact on Car Rentals: The pandemic had a negative impact on market growth due to a halt in activities as a result of the lockdowns and travel and transportation restrictions imposed by the Indonesian government to combat the spread of the coronavirus. Furthermore, as the tourism industry, both international and domestic, suffered a significant blow as a result of the pandemic, demand for car rentals decreased, as car rental services are widely used by tourists. Furthermore, WFH policies implemented by companies throughout Indonesia further reduced corporate demand for car rental services.

Analysts at Ken Research in their latest publication “Indonesia Car Rental Market Outlook to 2027F - Segmented by Market Structure (Organized Market and Unorganized Market), By Type of Vehicles (Small Cars/Hatchbacks, Sedans, SUV and Others, By Ice/EV (Ice (Internal Combustion Engine) And Electric Vehicles, By Cities (Jakarta, Surabaya, Bali, Yogyakarta), By Mode of Booking (Online and Offline), By Client (Business and Leisure and By Pick-Up (On-Airport and Off-Airport)”  observed the potential of the Car Rental Market in Indonesia. The expansion of the tourism industry with rising foreign tourists in Indonesia and On- Demand for transportation, the rising internet population in the country, and increasing demand from customers along with government incentives on electric vehicles are expected to contribute to the market growth over the forecast period. The Indonesian Car Rental Market is expected to grow at ~% CAGR over the forecasted period 2022-2027F.

Key Segments Covered: -

Indonesia Car Rental Market:

By Market Structure:

  • Organized market
  • Unorganized market

By Type of Vehicles:

  • Small Cars/ Hatchbacks
  • Sedans
  • SUVs
  • Others

To more about industry trends, Request a free Expert call

By ICE/EV:

  • ICE (Internal Combustion Engine
  • Electric Vehicles

By Cities:

  • Jakarta
  • Surabaya
  • Bali
  • Yogyakarta
  • Others

By Mode of Booking:

  • Online
  • Offline

By Client:

  • Business
  • Leisure

By Pick-up:

  • Off-Airport
  • On-Airport

Key Target Audience

  • Car Rental Service Providers
  • Car Rental Companies aiming to establish in Indonesia
  • Indonesia’s automotive industries
  • Government Bodies & Regulating Authorities
  • Venture Capitalist targeting the car rental market
  • Automotive industry association
  • Car Manufacturers
  • Existing Car Rental Companies
  • OEM Dealerships
  • New Market Entrants
  • Investors
  • Car Rental Associations

Time Period Captured in the Report:

  • Historical Year: 2017-2022
  • Base Year: 2022
  • Forecast Period: 2022– 2027F

 Companies Covered:

Car Rental Company

The Hertz Corporation

Blue Bird Group

TRAC

Mitra Pinasthika Mustika Rent

Adi Sarana Armada Tbk

Avis

Europcar Indonesia

Globe Rent a Car

Visit this Link Request for a custom report

Key Topics Covered in the Report

  • Overview, Operating Models and Company Profile of the Automotive Industry in the Indonesia, 2022
  • Overview and Genesis of Car Rental Market in Indonesia, 2022
  • Ecosystem of Indonesia Car Rental Market
  • Business Cycle, Timeline, and Value Chain Analysis of Car Rental Market in Indonesia
  • Indonesia Car Rental Market Sizing, 2017- 2022P
  • Market Segmentations of Car Rental Market in Indonesia (by Market Structure, by Type of Vehicle, by ICE/ EV, by Mode of Booking, by Pick-up, by Client, by cities), 2022
  • Indonesia E-Commerce Warehousing Overview, 2021
  • SWOT Analysis of Indonesia Car Rental Market
  • Growth Drivers of Indonesia Car Rental Market
  • Government regulations of Indonesia Car Rental Market
  • Government Incentives and Policies on Electrification in Indonesia
  • Trends and Developments of Indonesia Car Rental Market
  • Challenges of Indonesia Car Rental Market
  • Competitive Analysis of Car Rental Market in Indonesia
  • End User Analysis of Car Rental Market in Indonesia
  • Future Outlook and Projections of Car Rental Market in Indonesia, 2022-2027F
  • Market Opportunities and Analyst Recommendations

For more insights on the market intelligence, refer to the link below: -

Future Outlook of Indonesia Car Rental Market

Related Reports by Ken Research: -

Netherlands Car Rental Market Outlook to 2027F

Saudi Arabia Car Rental and Leasing Market Outlook to 2023

South Africa Car Rental and Leasing Market Projections to 2023