Increasing
population and internet penetration along with increasing business car rental
due to consistent bookings from corporate customers to attend events such as
exhibitions, conferences, workshops and meetings projects has driven the growth
of car rental and leasing market in South Africa.
South Africa Car Rental and
Leasing market augmented positively from 2013 to 2018 at a positive CAGR during
the review period 2013-2018. The car rental and leasing market was largely
dominated by foreign companies operating in the country including Avis, Hertz,
Budget and Europcar. Car rental and leasing market in South Africa was driven
by business car rental due to consistent bookings from corporate customers to
attend events such as exhibitions, conferences, workshops and meetings.
Industry players also formed strategic partnerships with each other to boost
sales. In 2013, online cab aggregators entered the South African transportation
industry with the launch of Uber in Johannesburg. Uber and Taxify are the major
players in the cab aggregator market. At numerous occasions, violence has
erupted between metered taxi operators and online cab aggregator drivers in the
country as the metered taxi operators accused the online cab aggregators of
stealing business and competing unfairly due to low fares which could not be matched.
Analysts at Ken Research in
their latest publication “South
Africa Car Rental and Leasing Market Projections to 2023 - By Business Model
(Self Drive, Cab Aggregator, Car Leasing, Minibus Taxi, Metered Taxi and
Airport Transfers) and By End User (Mining, Logistic & Courier and Others)”
believe that greater flexibility in car hiring system by corporate booking
and long term leasing services companies, strict implementation of rules for
governing taxi market, better access to internet services at reasonable rate,
promotion of ride sharing, provision of more value added services, improvement
in driver and rider safety and tie- ups and collaborations between different
companies will aid the car rental and leasing companies and cab aggregators to
grow and achieve higher profits.
South Africa Car Rental and
Leasing market is highly concentrated with the presence of few big players
constituting majority of the market. The major competition parameters are
price, fleet variations, value added services offered, age of the car and ease
of availability. A major reason for increase in car rental and leasing market
will be utilization of rental and leased vehicles for executing jobs in app
based taxi market. Hence, as the online cab aggregators market expands, it will
also increase the demand for car rental and leasing market. The roll-out
programme for e-Visas in South Africa along with the low valuation of rand
should make South Africa a thriving tourist destination for foreign travelers
in the future, thus expanding the car rental industry too. Moreover, businesses
such as renting a car on per day basis to professional drivers for use as a
commercial purpose such as using it for ferrying tourists or for using it to
fulfill short term needs of other companies is expected to increase the
revenues of car rental and leasing companies in the future.
Keywords:-
South Africa Car Rental And Leasing Market
Self Drive Market South Africa
South Africa Cab Aggregator Market
Northern South Africa Taxi Market
Southern South Africa Taxi Market
Eastern South Africa Taxi Market
Western South Africa Taxi Market
South Africa Taxi Market
Challenges South Africa Car Rental
Minibus Taxi Market In South Africa
Metered Taxi Market In South Africa
Airport Transfers In South Africa
Fuel Prices In South Africa Taxi Market
Transport Structure In South Africa
South Africa Tourism Taxi Market
South Africa Uber Market
South Africa Taxify Market
South Africa Uber Company Profile
South Africa Hertz Company Profile
South Africa Europcar Company Profile
South Africa Avis Company Profile
Key Segments Covered:-
South Africa Car
Rental and Leasing Market:
By Region:
Northern
South Africa
Southern
South Africa
Eastern
South Africa
Western
South Africa
By Type of Booking:
Online
Booking
Offline
Booking
By Type of End Users:
Mining
Company Executives
Logistic
and Courier Companies
Financial
Institutions, Consultancy, Hospitality Industry and Others
South Africa Cab
Aggregator Market:-
By Region:
Northern
South Africa
Southern
South Africa
Eastern
South Africa
Western
South Africa
Key Target Audience:-
Car
Rental Companies
Car
Leasing Companies
Online
Cab Aggregators
Taxi
Companies
Private
Equity Ventures
Time Period Captured in the Report:-
2013-2018
– Historical Period
2019-2023
– Future Forecast
Companies Covered:-
Car Rental and
Leasing Companies:-
Avis Budget Group Inc, Europcar Groupe SA, Hertz Corp, First
Car Rental SA and Imperial Holdings Ltd, Uber and Taxify
To know more, click on the link below:-
Related
Reports By Ken Research:-
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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