In 2014, car rental saw a significant decline of 4% in current value sales and 5% decrease in transactions. This represented the worst performance of the category in Australia since the height of the global financial crisis. The decline in car rental was felt by car rental operators catering for a wide range of consumers, from business travellers to backpackers. Despite the downward shift, Australia remains one of the most developed markets for car rental in the world, with domestic tourism making up by far the largest component. The high per capita spending on car rental in Australia is partially the result of a paucity of public transport, which ensures that once holidaymakers arrive at their destination, a rental vehicle is often essential.
Industry Prospects
Following on from the decline in 2014, car rental in Australia is set to return positive growth over the forecast period, as the lower value of the Australian dollar encourages Australians to holiday at home. Growth will be considerably below rates that might be suggested by the strength of domestic tourism, however. This is because domestic tourism will not necessarily lend itself to the demand for car rental. The likelihood that elderly Australians will continue to spend their holidays visiting friends and relatives will suppress the demand for car rental services. The continuing growth in demand for cruise holidays, as older Australians shift from "grey nomads" to "blue nomads", will also exert downward pressure on the demand for car rental.
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Report Overview
Discover the latest market trends and uncover sources of future market growth for the Car Rental industry in Australia 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 Australia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Car Rental in Australia 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 Australia?
* What are the major brands in Australia?
* Is there a shift from airport car rental to non-airport?
* Is leisure car rental outpacing business car rental?
* Is insurance replacement recession-resistant?
Reasons to Get this Report
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Car Rental in Australia - New Market Research Report
Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
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Contact Phone: 1-413-485-7001
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001