LONDON, Aug. 24, 2016 /PRNewswire/ -- Executive Summary
The report titled "India Self Drive Car Rental Market Outlook to 2020 – Rising Customer Aspirations and Easy Availability of Renting Options to Boost Future Growth" provides a comprehensive analysis of various aspects such as market size of India Self Drive Car Rental Market. The report also covers various segmentations by market structure, by Cities, by type of cars, by type of booking channels, by packages, by Intracity and intercity usage. Major players in India self drive car rental used two wheeler market have been identified and their competitive landscapes have also been covered in the report.
The India self drive car rental market has displayed a strong growth over the five year period from FY'2010-FY'2015 on account of increasing income of households, increasing number of players in the market, rising leisure travel and others. The self drive car rental market in India has perceived a growth of ~% in terms of revenues over the period FY'2010-FY'2015.
The self drive car rental industry in India is mainly dominated by the unorganized sector accounting for ~% of revenues in FY'2015 where as the organized market captured ~% of of market share. However, the trend has been shifting drastically in the favor organized sector. The hatchback car segment dominated the other spectrum of cars because of comfortable and smooth ride offered to the people within their affordable pricing packages. In FY'2015, the hatchback car segment constituted ~% of overall car fleet of the market. During FY'2015, the online booking platform captured the major proportion among other modes of booking channels. It constituted ~% in contrast to other modes of booking channels. The majority of the car bookings were done through online as compared to the physical booking where a person needs to go physically and make the booking.
The self drive car rental segment in car rental industry is an emerging concept and has already gained a lot of popularity in metropolitans in India. It has marked its presence majorly in the metropolitan cities of India. Bangalore has the maximum market share with ~% in the revenue of the online car rental industry, followed by Delhi with ~% as of FY'2015. Mumbai, Chandigarh, Pune, Kolkata, Hyderabad and Goa together constitute a total of ~% of the market share.
The Self Car rental industry in India is comprised of various car rental companies that follow Pay per Use Model. In terms of revenues, Myles emerged as the leading players in the market, contributing ~% of the overall market revenues in FY'2015. Zoom Car has recently been emerged into the Indian self drive car rental market and has posted remarkable growth in this market. In terms of car fleet size, Zoom Car owned car fleet of ~ cars in FY'2015 as against ~ cars being owned by Myles during the same period.
An emerging economy such as that of India offers huge potential for the self drive car rental market. The players in self drive car rental market can utilize the current economic situation to provide value services and excellent quality cars to improve their individual sales. In the coming few years, it is expected that the self drive car rental market will continue to flourish as more buyers will congregate the self drive car rental market seeking great deals as it is an excellent buying decision for an individual. Projections for the future suggest that this market is expected to showcase a vibrant growth, with revenues to reach INR ~ million by FY'2020, growing at a CAGR of ~% during the period FY'2016-FY'2020. Additionally, it is expected that by FY'2020, fleet size would grow at rapid pace due to emergence of new market players, growing demand for cars especially during weekends for leisure trips by Indian families as well as inbound tourists in India. There exist more opportunities and scope of innovations from budding startups in this space.
Key Topics Covered in the Report:
- The market size of India Self Drive Car Rental Market
- Global Performance of Self Drive Car Companies-China, Brazil and The US
- Market Structure of Organized and Unorganized Market Players in Self Drive Segment
- Market segmentation of India self drive car market on the basis fleet size, different geographies, booking channels, different segment of fleet, pricing packages, usage of self drive car rental services, age group, working class and gender.
- Government Regulations in India Self Drive Car Rental Market
- Security Mechanism in India Self Drive Car Rental Market
- Market Share of India Self Drive Car Rental Companies on the basis of Revenues and Fleet size
- Business strategies of India Self Drive Car Rental Companies
- Trends and Growth drivers of India Self Drive Car Rental Market
- Issues and Challenges of India Self Drive Car Rental Market
- Future Projections of India Self Drive Car Rental Market
- Macro Economic Variables in India Self Drive Car Rental Industry
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