Motorcycle Rental Market Forecast to Grow at 7.74% CAGR by 2021 | ReportsnReports
PUNE, India, December 20, 2017 /PRNewswire/ --
Commenting on the Global Motorcycle Rental Market 2017-2021 report, an analyst says the latest trend gaining momentum in the market is General trend of renting utilitarian items through e-commerce. In 2016, more than 45% of the global population was estimated to have access to the internet. With the current growth rate, more than half of the global population would have the internet connection by 2018, with maximum penetration in the developing economies of regions like APAC, the Middle East, Africa, Central and Eastern Europe, and Central and South America. Internet connectivity has been a strong driver for the growth of the global e-commerce industry. The e-commerce industry in APAC will reach a growth of about 18% of retail sales by 2018 from 8.2% retail sales in 2015.
Get complete report on Motorcycle Rental Market spread across 81 pages, analyzing 10 major companies and providing 27 data exhibits now available at http://www.reportsnreports.com/reports/1256991-global-motorcycle-rental-market-2017-2021.html .
The analysts forecast global motorcycle rental market to grow at a CAGR of 7.74% during the period 2017-2021. According to the Motorcycle Rental market report, one of the major drivers for this market is Increase in road-trip tourism. Increase in road trip tourism in countries like India and the US and the rise in the levels of traffic congestion have led to the growth in the number of motorcycle tours by tourists. In India, adventure tourism comprised about 35% of the domestic Indian tourism industry and wildlife tourism comprised about 40% of the same in 2015. These are expected to drive the market for motorcycle rentals as most of the locations are situated in places with limited transportation facilities. Tourists generally require their own vehicles to reach these locations or rent a vehicle for the same.
Key players in the global motorcycle rental market: Adriatic Moto Tours, EagleRider, Hertz Ride, Motoroads, and Wheelstreet. Other Prominent Vendors in the market are: Dubbelju Motorcycle Rentals, Harley-Davidson, Kizuki Rental Service (Rental 819), MotoQuest, and WICKEDRIDE ADVENTURE SERVICES. Motorcycle rental services operate through a network of pickup or drop-off points and offer a range of two-wheelers that customers can pay, and ride whenever required. Motorcycle rental is a substitute for motorcycle ownership. In this system, motorcycles are owned by a firm that rents them to users on a daily basis, monthly basis, or annually. Over the years, motorcycle rental has evolved from a basic service provided by popular organizations to a widely recognized component of the modern urban transport industry.
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Further, the motorcycle rental market report states that one of the major factors hindering the growth of this market is Rise in on-demand taxi operators. Increasing penetration of smartphone and use of apps has enabled easier reach of on-demand taxi operators to customers in the US, which consisted of about 67% of the total US adult population in 2015. On-demand taxi operators had an increase of about 15% in the number of rides availed in the US for 2015.
Another related report is Global Automotive E-retail Market 2017-2021, the analysts forecast global automotive e-retail market to grow at a CAGR of 33.70% during the period 2017-2021. The report considers the volume of new vehicle sales, of cars and two-wheelers, sold online globally.
Key players are Alibaba Group, Paytm, Amazon, and Flipkart. The other prominent vendors in the market are eBay and Snapdeal.Browse complete Automotive E-retail Market report at http://www.reportsnreports.com/reports/985439-global-automotive-e-retail-market-2017-2021.html .
Explore other new reports on Automotive Market at http://www.reportsnreports.com/market-research/automotive/ .
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