Japan Car Rental Market is in the growing stage, being driven by the increase in travel expenditure, rising demand for rental cars, increased internet and smartphone penetration, rising population and increasing demand from tourists for business and leisure purposes hiring rental cars. The Car Rental Industry in Japan is moderately consolidated with key players such as Toyota Rent-a-Car, Nippon Rent-a-Car, Orix Rent-a-Car, Times Car Rental and Nissan Rent-a-Car.
Key Findings:
- Japan Car rental market was valued at USD ~ in 2021 and is projected to grow to USD ~ by 2027, registering a CAGR of ~% in terms of revenue during the forecast period (2022P-2027F).
- Increase in tourism is will pave the way for the Car Rental Market in Japan.
- Number of car rented is expected to grow at ~% in the forecasted period of 2022P-2027F in Japan.
Rising Japan Car Rental Market: The Japan Car Rental Market is projected to show a significant growth of CAGR ~% in the forecasted period of 2022P-2027F, owing to the increase in travel expenditure, rising demand for rental cars, increased internet and smartphone penetration, rising population and increasing demand from tourists for business and leisure purposes hiring rental cars.
Rise in Internet and Smartphone Penetration: Increasing internet and smartphone penetration across the country is expected to drive the Car Rental Market in Japan further. The increased usage of mobile applications has resulted in the growth of online car rental reservations. This rise in the overall internet and smartphone usage is supposed to help boost the Japanese Car Rental Industry.
Rising Tourism in the Country: The rise in domestic and international tourism across the country is likely to act as a catalyst for the Japan Car Rental Market. Domestic spending made up to ~% of all tourism spending in 2021. Due to the country's growing travel and tourism industries, there is a significant increase in demand for Car Rental Services, which will lead to significant growth of the Japanese Car Rental Industry.
Analysts at Ken Research in their latest publication “Japan Car Rental Market Outlook to 2027F - By Market Structure (Organized and Unorganized), By Type of Vehicle (Small Cars/ Hatchbacks, Sedans, SUVs and Others) and By Booking Mode (Online and Offline)” observed that Japan Car Rental Market is expected to showcase considerable growth in the coming five years. In the upcoming years, it is predicted to expand more rapidly due to increase in travel expenditure, rising demand for rental cars, increased internet and smartphone penetration, rising population and increasing demand from tourists for business and leisure purposes hiring rental cars. The Car Rental Market in Japan is expected to grow at ~% CAGR over the forecasted period 2022P-2027F.
Key Segments Covered
Japan Car Rental Market:
- By Market Structure
- Organized market
- Unorganized market
- By Type of Vehicles
- Small Cars/ Hatchbacks
- Sedans
- SUVs
- Others
- By ICE/EV
- ICE (Internal Combustion Engine)
- Electric Vehicles
- By Region
- Central
- South
- North
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- 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 the Japan
- Japan 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 Period: 2017-2022P
- Base Year: 2022P
- Forecast Period: 2022P– 2027F
Companies Covered:
- Toyota Rent-a-Car
- Nippon Rent-a-Car
- Orix Rent-a-Car
- Times Car Rental
- Nissan Rent-a-Car
- Smile Rental Car
- NicoNico Rent a Car
- JR Rent-a-Car
- Sky Rent-a-Car
Key Topics Covered in the Report
- Executive Summary
- Country Overview of the Japan
- Overview and Genesis of Car Rental Market in Japan
- Ecosystem of Japan Car Rental Market
- Business Cycle of Japan Car Rental Market
- Timeline of Major Players of Japan Car Rental Market
- Value Chain Analysis of Japan Car Rental Market
- Market Segmentations of Car Rental Market in Japan
- Snapshots on different Car Rental Markets in Japan
- SWOT Analysis of Japan Car Rental Market
- Growth Drivers of Japan Car Rental Market
- Government regulations of Japan Car Rental Market
- Trends and Developments of Japan Car Rental Market
- Challenges of Japan Car Rental Market
- End User Analysis of Car Rental Market in Japan
- Competitive Analysis of Car Rental Market in Japan
- Future Outlook and Projections of Car Rental Market in Japan
- Analyst Recommendations
- Research Methodology
For more information on the research report, refer to below link:
Japan Car Rental Market Outlook to 2027F: Ken Research
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