Car Rental in China - New Market Report

In 2013, car rental in China registered lower current value growth than in the previous year, mainly due to less-robust economic growth. Under the unfavourable economic circumstances, many consumers cut their expenditure on unnecessary products and services, such as car rental. In addition, the intensifying competition within car rental in China resulted in a continuous decline in the average spend per transaction over the last several years of the review period, because many car rental operators had to introduce price discounts and promotional schemes in order to attract consumers. Furthermore, an increasing number of major cities introduced a cap on purchases of cars in a bid to alleviate traffic congestion. In 2013, Tianjin and Shijiazhuang also launched restrictions on car purchases, following in the steps of Shanghai, Beijing, Guiyang and Guangzhou. Consequently, the cap on car purchases negatively affected growth of fleet sizes within the car rental industry.

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Industry Prospects

Sales of car rental are expected to grow at a CAGR of 15% at constant 2013 prices over the forecast period, and this will be jointly boosted by leisure and business car rental. Business car rental is projected to continue to be slightly more important than leisure car rental, and is set to account for a 51% value share of car rental in China in 2018, thanks to expected sustained economic development and restrictions on public funds for car purchases for official usage. On the other hand, leisure car rental is expected to record slightly higher growth than business car rental at constant 2013 prices over the forecast period, mainly to be driven by rising disposable incomes and the pursuit of new lifestyles and tourism experiences with more-sophisticated demand from consumers.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Car Rental industry in China with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Car Rental industry in China, our research will save you time and money while empowering you to make informed, profitable decisions.

The Car Rental in China market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
* Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

* What is the market size of Car Rental in China?
* What are the major brands in China?

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