Vietnam Car Rental Market Outlook to 2027F: Increasing Internet Penetration Rate, Tourism and Urbanization Bolsters Growth

DUBLIN, June 21, 2023 /PRNewswire/ -- The "Vietnam Car Rental Market Outlook to 2027F" report has been added to  ResearchAndMarkets.com's offering.

The Vietnam car rental market is expected to grow at a 16.7% CAGR during 2022-2027F, driven by Increasing Internet Penetration Rate, Tourism and Urbanization.

According to estimates, due to the impact of COVID-19, there has been a decrease in tourism resulting in a reduction in demand for car rentals and car rental prices in Vietnam. 

Many cars rental companies in Vietnam have started to shift towards online booking systems to make it more convenient for customers to rent cars. This has made it easier for customers to compare prices and find the best deals.

In 2027F, Hatchbacks will be the most preferable type of car contributing half the market share in Vietnam car rental market.

Key Trends by Market Segment:

By Car Type

In 2022, hatchbacks dominated the car rental market with two fifths market share in Vietnam Car Rental Market. Sedans are more fuel-efficient and offer spacious interiors, SUVs boast of ample cabin room and are perfect for driving on untarred roads and inclement weather conditions due to their powerful engine. Hatchbacks are often roomier than a mid-sized sedan and can navigate through city streets, squeeze into small parking spaces and offers a combination of elegant designs and huge versatility.

By Purpose

In 2022, Ho Chi Minch City was the most popular destination for leisure purpose in Vietnam car rental market. In 2022, Ho Chi Minh City was the most sought-after destination by domestic tourists, the second was Phu Quoc - the focus of summer tourism. Followed by destinations such as Hanoi, Da Lat, Nha Trang, Da Nang, Vung Tau, Quy Nhon, Hue, and Phan Thiet.

Competitive Landscape

The market is in a growing stage, the growth in the market is relatively slow. This can be due to high deposit fees and the hassle of contracts. Vietnam car rental market is highly fragmented with many small players present in the market.

The Competition Parameter are Key Services, Average Ticket Size/km, Business USP and Service Portfolio among players. Popular car brands in Vietnam car rental market are Toyota, Ford and Kia providing airport pick and drop facilities. Major Players in the Vietnam car rental market are as follows;

Future Outlook

During the forecast period of 2022-2027, it is anticipated that Vietnam car rental market will grow at a CAGR of 16.7%. Leisure customer will remain the largest market by traveler type and it is also expected to witness the highest growth during the forecast period due to the rise in air travel and increasing domestic tourism. In 2027F, it is forecasted that car rental and ride hailing market will generate the maximum revenue.

Impact of Covid-19 on Vietnam Car Rental Market

• Hofer's Matrix of Vietnam Car Rental Market
• Digitalization Trends in Vietnam Car Rental Market
• Case Study - OLA
• Learnings From Uber's Failure in Vietnam
• Strategies Adopted By Grab
• Partnerships
• Cluster Analysis of Vietnam for Car Rental Companies
• Investment Opportunities in Vietnam Car Ride Hailing Market
• Policy Implications For Car Ride Sharing/Hailing Companies

A selection of companies mentioned in this report includes

• Hertz
• Trust Car Rental
• Kayak
• Mai Linh
• Avis
• Budget
• VN Rental
• Green World Car Rental
• Car for Rent
• Enterprise

Key Topics Covered:

1. Executive Summary
1.1 Executive Summary: Vietnam Car Rental Market, 2022

2. Country Overview of Vietnam
2.1 Country Demographics, 2022
2.2 Population Analysis of Vietnam, 2022
2.3 Urbanization in Vietnam, 2022
2.4 Overview of Tourism, 2022

3. Overview of Vietnam Car rental Market
3.1 New Passenger Car Sales in Vietnam, 2021
3.2 Average Price of Passenger Cars in Vietnam, 2017-2022
3.3 Mobility Landscape in Vietnam
3.4 Supply Side Ecosystem of Vietnam Car Rental Market
3.5 Business Cycle of Vietnam Car Rental Market

4. Snapshot of Vietnam Car rental Market
4.1 Overview of Vietnam Car Rental Market
4.2 Value Chain Analysis of Vietnam Car Rental Market
4.3 Business Model of Vietnam Car Rental Market
4.4 Timeline of Major Players in Vietnam Car Rental Market
4.5 Market Sizing Analysis of Vietnam Car Rental Market, 2017-2022
4.6 Market Segmentation By Type of Booking on the Basis of Car Fleet Size, 2022
4.7 Market Segmentation By Car Type on the Basis of Car Fleet Size, 2022
4.8 Market Segmentation By Purpose on the Basis of Car Fleet Size, 2022
4.9 PESTEL Analysis
4.10 SWOT Analysis of Vietnam Car Rental Market
4.12 Porter's 5 Analysis
4.13 Trends and Developments in Vietnam Car Rental Market
4.14 Growth Drivers of Vietnam Car Rental Market
4.15 Challenges in Vietnam Car Rental Market
4.16 Process For Applying Car Rental Business License
4.17 Consumer Pain Points in Vietnam Car Rental Market
4.18 Competition Landscape of Vietnam Car Rental Market, 2022
4.19 Cross Comparison (Market Share, Fleet size, Revenue, Inception date, Average ticket size, Type of Fleets, Business Model, Revenue Model, Recent Developments)
4.20 Future Market Analysis of Vietnam Self Drive Car Rental Market, 2022-2027F
4.21 Future Market Segmentation By Type of Booking on the Basis of Car Fleet Size, 2027F
4.22 Future Market Segmentation By Type of Car on the Basis of Car Fleet Size, 2027F
4.23 Future Market Segmentation By Purpose on the Basis of Car Fleet Size, 2027F

5. Snapshot of Vietnam Car Ride Sharing Market

6. Snapshot of Vietnam Car Leasing Market

7. Snapshot of Vietnam Car Ride Hailing Market

8. Snapshot of Vietnam Car Self Drive Market

For more information about this report visit https://www.researchandmarkets.com/r/t33i2v

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