Australia Car Rental Market Outlook 2030 Sample- by Goldstein Research by Goldstein Market Intelligence

Australia Car Rental Market Outlook

Australia Car Rental Market Outlook 2030: Opportunity & Growth Analysis, 2017-2030

Report Code :AM 1335

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Australia Car Rental Market Outlook

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Vision

Value

Visibility

Australia Car Rental Market Outlook, 2017-2030 

Research Methodology • • • • •



Market Environment • • • • • • •



Target Consumer Group Analysis Consumer Trend Analysis Penetration of Low Emission Vehicles Analysis Rental Car Services Demand & Supply Analysis Marketing & Promotion Analysis Revenue Analysis

Executive Summary • • • •



Australia Economic Overview Macroeconomic Outlook Australia Fleet Industry Outlook Australia Tourism Industry Outlook Australia Car Rental Online Services & Applications Development Outlook Investments Analysis Government Regulatory Framework

Industry Structure • • • • • •



Secondary Research Primary Research Data Analyzing & Market Size Estimation Research Design Bottom-Up & Top-Down Approach

Market Size (USD Million), 2017-2030 Forecast Analysis (2017-2030) Market Share & CAGR (%), 2017-2030 Regional Share Distribution (%), 2017-2030

Market Dynamics • • • • •

Growth Drivers Market Restraints Risk Analysis Recent Trends & Developments Opportunities for Market Players

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Australia Car Rental Market  Australia Car Rental Market Segmentation, 2017-2030

 By Rental Type Analysis, 2017-2030     

Interstate Rental (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2030) Intrastate Rental (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2030) Airport Transfers (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2030) BPS Analysis of Car Rental Market By Rental Type Attractiveness of Car Rental Market By Rental Type

 By Services Type Analysis, 2017-2030

 Chauffer Drive (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2030)  Special Events (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2030)  Self-Driving (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2030)  Car Pool (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2030)  Taxi Services (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2030)  BPS Analysis of Car Rental Market By Services Type  Attractiveness of Car Rental Market By Services Type

 By Vehicle Type Analysis, 2017-2030

 Luxury Cars (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2030)  Executive Cars (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2030)  Economy Cars (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2030)  Sports Utility Vehicles (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2030)  Multi Utility Vehicles (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2030)  BPS Analysis of Car Rental Market By Vehicle Type  Attractiveness of Car Rental Market By Vehicle Type

 By Mode of Booking Analysis, 2017-2030

 Online Booking  App Based  Web Based  Offline Booking  BPS Analysis of Car Rental Market By Mode of Booking  Attractiveness of Car Rental Market By Mode of Booking

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Australia Car Rental Market  Competitive Outlook     

Market Share of Major Players Competitive Analysis New Entrants in Market Mergers & Acquisitions Company Profiles  Hertz Corporation  Company Synopsis  Business Strategy  Product Portfolio  SWOT Analysis  Avis Australia Car Rentals  Europcar  Tourism Holdings Ltd  Uber  GoCatch  Ingogo  GoGet  Flexicar  GreenShareCar

 Porter’s Five Force Model  SWOT Analysis  Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem  Expert Analysis  Concluding Remarks

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Australia Car Rental Market Outlook Global Car Rental Market Share(%), By Region-2017-2030

Australia Car Rental Market Size USD (Billion). 2017-2030 XX XX

XX% CAGR: (2017-2030)

XX XX

7.0022.0 7.00 %%20170% 28.0 0% 36.0 0%

XX XX

Asia Pacific

XX 2016e 2017e 2018f

2019f

Source: Goldstein Research

m a S

2020f

2021f

2022f

2023f

2024f

Taxi Services accounted for the highest market share XX% in Australia Car Rental

20.00% 20.00%

42.00 %

America dominated the Australia Car Rental

Intrastate Services

15.00 % 8.00%

25.00 10.00 % %

60.00%

Latin America

XX% share in 2017, North

Australia Car Rental Market Australia Car Rental Market Share (%), By Services Type -2017 Share(%), By Rental Type-2017

Source: Goldstein Research

Europe

Middle East and Africa

With

Market

Airport Transfers

e l p North America

Source: Goldstein Research

In 2017,

Interstate Services

7.00 7.00 28.00 %% % 26.00 2025 % 32.00 %

Chauffeur Drive

Special Events

Car Pool

Taxi Services

Source: Goldstein Research

Self-Driving

market

Australia Car Rental Market Share (%), By Vehicles Type-2017

XX%

XX% XX%

Luxury Cars

Executive Cars

Economy Cars

Sports Utility Vehicles

Multi Utility Vehicles

Source: Goldstein Research

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Australia Car Rental Market Outlook  The Australia car rental market registered an impressive growth in 2017. Leisure travelers accounted for XX% of the car rental market value in 2017 while business travelers represented a share of XX%.  Car rental made at non-airport locations accounted for the largest share of the total market value in 2017 closely trailed by airport locations. The car rental industry will continue to expand over the forecast period, driven by the rise in tourism flows and expenditure.

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 At USD XX Billion, the car rental industry posted record total revenue in 2017 – but the slimmest growth increase since revenues dropped at the start of the recession. However, the industry achieved the revenue on a smaller overall fleet. That translate into revenue-per-unit, per month (RPU) of USD XXX, the first RPU growth year over year in four years and the highest RPU historically recorded by Goldstein Research.

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 In the recent years, large number of local players have entered in the market, and are constantly increasing the car renting amenities and fleet type to provide best quality service and ensure maximum comfort to the customers. The car rental industry is certainly highly competitive; customers have high expectations from rental firms, and there’s a plethora of options to suit every budget.  The Australia is a dynamic market for car rentals, with both residents and tourists renting cars a great deal. The industry is growing at a compound annual growth rate of XX% and thus provides huge opportunities to the new market players. The startups offers car rentals from XX locations in the Australia, including all airports, malls, central city and downtown locations as well as suburbs in all emirates. That gives the user potential access to more than XX vehicles in the Australia. In terms of traffic, the companies get more than XX visitors per month organically and it is growing at a rate of XX per cent every month.

Growing Tourism Industry

Novel Business Models

Inefficient Public Transportation

Australia Car Rental Industry Revenue (USD Billion)

Online Booking

Offline Booking

2017

USD XX Billion

2025

USD XX Billion

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Technolog ical Advancem ent

Australia Car Rental Market Outlook

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Research Methodology

Goldstein Research follows a comprehensive and rigorous research methodology to provide you accurate estimates and forecast of a particular market. We provide estimates, forecast and analysis primarily based on secondary research, primary interviews, in-house database and other free as well paid sources. Our company follows simultaneous top down and bottom approach in order to provide you the accurate market sizing. Data triangulation method is strictly followed where we triangulate the data from all the aspects, be it Function Type, application, industry verticals, material, product type or geography. In addition, the research methodology we follow is a systematic approach in order to estimate and project the market sizing keeping in mind all the on-going and upcoming trends of the market. We conduct both primary and secondary research in order to estimate a market and validate our key findings.

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We put together our effort and prepare an inclusive questionnaire depending on the title of the market we are tracking and extract the important information we require to validate our findings. Our team of Analysts and experts dedicatedly put their effort to provide you the best possible and accurate data and analysis. Adding to that; technological, economic, cultural and social aspects along with the regulatory barriers are completely analyzed to understand the comprehensive market scenario across different geographies. Understanding the market from both buyer and seller point of view is important to track a market and provide analysis on the same. We not only provide the market data of the four geographies as a whole, namely, North America, Europe, Asia-Pacific, Latin America, Middle East & Africa and Rest of the World (RoW) but we also provide you qualitative as well we qualitative information on country level bifurcation. We at Goldstein Research provide you: • Precise Estimates and Forecast • Authentic Analysis • In-depth Data and Analysis • Authentic Sources • Reliable Data and Analysis

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Australia Car Rental Market Outlook : Players Revenue Analysis, 2017

Major Players/ Industries

Revenue (USD), 2017

Market Share (%), 2017

Hertz Corporation

XX%

Europcar

Avis Australia Car Rentals

Tourism Holdings Ltd

Uber

GoCatch

Ingogo

XX%

m a S XX

e l p XX%

XX%

Flexicar

XX%

GreenShareCar

XX%

GoGet

Source: Goldstein Research

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Australia Car Rental Market Outlook: Players Car Rental Service Analysis, 2017

Major Players/ Industries

Number of Cars in Service, 2017

Per Year Trips, 2017

Hertz Corporation

Europcar

Avis Australia Car Rentals

Tourism Holdings Ltd

Uber

GoCatch

Ingogo

m a S XX

e l p XX

Flexicar

GreenShareCar

GoGet

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Australia Car Rental Market Outlook

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Australia Car Rental Market Size (USD Billion) & Growth Analysis Australia Car Rental Market Size (USD Billion)-2017-2030 XX

XX XX

XX 2016e

2017e

Source: Goldstein Research

m a S

2018

2019

2020

e l p

2021

2022

2023

2024

ď&#x192;źAustralia Car Rental Market is anticipated to expand at a compound annual growth rate of XX% during the forecast period i.e. 2017-2030. The market is anticipated to reach USD XX Billion by the end of 2025. The latest trend gaining momentum in the market is introduction of value-for-money Car Rental services. Players in the Car Rental industry are focusing on providing low-cost car services, especially for leisure markets.

ď&#x192;źWith the consumers increasingly preferring the availability of cars in minimal time, operators are focusing on streamlining their membership procedures and on enhance service convenience by adopting smart technology. Moreover, Car Rental operators are also focusing on introducing enhanced features in their mobile applications to cater efficient customer convenience. ď&#x192;źPrice competition between different hiring services is mainly focused on the pre-booked service, since in the hailing market, taxis still maintain the monopoly. As clarified by the respondents to the stakeholder consultation, in the pre-booked segment, there is strong competition of hire transport intermediaries and dispatch centres/taxi apps. In this context, also short-distance ridesharing intermediaries are trying to enter the segment, focusing on lower prices and geographic coverage where the taxi offering is low (in particular, suburbs with high taxi pre-booking prices). Copyright

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Australia Car Rental Market Outlook: Rental Car in Use & Application Analysis Australia Car Rental Market Share (%), By Car Rental Application, 2017

Business Car Rental; XX %

Non-Airport car Rental; XX%

Airport Car Rental; XX %

Source: Goldstein Research

Leisure Car Rental; XX%

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Source: Goldstein Research

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Australia Number of Cars Used in Car Rental Industry, 2016-2018 XX XX XX XX

XX XX XX XX XX

2016

2017

2018

Source: Goldstein Research

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Growth Drivers Rapid Urbanization

Technological Advancements



Rapid pace of urbanization in developed and growing economies such as U.S., China, Australia, and others further opening the opportunities for the car rental industry players to fill the need of economic mobility infrastructure.



Population in urban regions are shifting towards car rental and car sharing services for their routine works is one of the major reason which is fostering the demand car rentals.



Thus, urbanization giving rise to car rental and taxi services such as car sharing and car pooling services those are much cost effective than avg. Car rentals and taxi services. Further, poor public transport facilities in developing nations is also propelling the growth of car rental market.



The urbanization is changing the lifestyle of the population and also rising the awareness towards the increasing fuel emissions. The rising disposable income of the population is allowing them to spend more on commuting vehicles.



The government initiatives such as introducing favorable motor vehicle act to increase the usage of electric vehicles and car sharing services is also increasing the new taxi services in developed regions.

Reason behind the growth of Car Rental Market, 2017-2030

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 Advancement in technology has already made a significant impact on the Car Rental market as it gives consumers more control over the services and it also play vital role in changing market opportunities.

Car Rental Market Urbanization

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Impact Analysis: Rapid urbanization will lead to the efficient daily commuting Car Rental and leasing services demand amid of growing sales of automobiles and growing traffic congestion on city roads.

Increasing Car Rental Leasing Services

High

Rising Need for Efficient Commuting

Medium

Impact on Australia Car Rental Market

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Low

Growth Drivers Australia Car Rental Market Outlook

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Market Restraints Unorganized Markets in High Potential Developing Markets

 Car rental business in emerging countries such as India, Russia, Africa and South East Asia among others are growing rapidly at a CAGR of around XX% in a market that is currently dominated by the unorganized sector. The organized sector has a small portion of the pie and is expected to grow in the future. The organized sector differentiates itself from the unorganized sector in terms of its service parameters like quality of service, reliability, etc. and charges an upfront premium for that.  Securing funds to continue expansion into tier-2 cities or rural areas cities is also another challenge. The dynamics of the industry are such that once few players enters the market, a new player has to give huge promotional discounts along with significant spends on marketing. In such a case, a company which expands rapidly will have a fast mover advantage.  One of the other key features of successful car rental companies is the advanced software application that on one side, enables a business to control all sides of the business including fleet planning, usage and pricing while direct integrations allow customers to gain quick access to the offers, either directly online via the company’s website or through any other affiliate system like online car rental brokerage. It must run flawlessly and look simple to satisfy the customer.

Vehicle Utilization by Vehicle Type

m a S XX%

XX%

Comfort

Luxury

Budget

XX%

Source: Goldstein Research

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Impact Analysis: From a strategic point of view, different models should be used for retail and corporate customers. Corporates mostly rely on Car Rental companies for intra city transfer and work on credit. Hence, the pricing and marketing strategies should be different for these segments.  Educating your partners and bringing them on par to provide unique and consistent services to the customers is a challenge

Other Challenges Faced by Car Rental Companies  For many car rental companies, specially in big and popular cities, the biggest challenge is to deal with overseas customers. There are higher chances of risk and accident with these travelers. Many travelers are not aware with the traffic rules of the country and some of them are used to drive on the other side of the road.

 One of the most important aspects of any successful business is customer satisfaction. For a car rental industry, it’s a challenge to provide the right information and complete transparency to their customers. Good customer service is very important for retaining your customers and can be an amazing way to get referred.

Impact on Australia Car Rental Market High

Medium

 Brand awareness is a challenge for many companies. There are so many new rental companies in the market and they struggle for a reputed name in the market. Branding is all about reaching your targeted audience and making some buzz in your industry. Copyright

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Low

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Australia Car Rental Market Opportunity, 2017-2030 Trends And Opportunities The Australia economic recovery played a significant role in the performance of the travel industry. The Australia GDP growth went from XX per cent in 2017 to XX per cent in 2017. Consequently that lead to an increase in the disposable income for travellers, especially in developing countries. We can certainly argue that the increase in the buying power of consumers, combined with low-cost airfares in the airline industry, directly influenced the growth in the car rental market. Still car rental companies cannot rely only on Australia economic growth for future success. There are few more aspects that will have a disruptive effect on the car rental industry. Some of them bringing opportunities and some of them representing challenges.

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Fig: 19: Impact of Latest Trends on Car Rental Market

Fleet Management XX%

Dataenabled Car management XX%

Real-time information XX%

The sharing economy Car sharing has been keeping car rental companies on their toes for a few years now. At the same time, it pushed them to expand and find opportunities in this shift in customer trends. Offering car rental by the hour was one of the first resolutions that the leading car rental companies implemented. which resulted in taking a share of the new demand. Car-sharing is a recent phenomenon in developing countries, only taking root within the last three years. Although there are few car-sharing operators in developing countries, the number of systems is growing. Car-sharing is most active in Central and South America, which has five systems in operation, and in Turkey, with three small systems. Following those two areas, China currently has two car-sharing operators, while Zoom will mark the first carsharing operation in India

Government Initiative XX%

Impact Analysis (on the basis of Latest Trends

Usage-Based Insurance XX%

e l p Sample

The green vehicle Shifting the focus to green vehicles will not only give a more economical alternative to customers, but will contribute to a bigger cause â&#x20AC;&#x201C; increasing awareness about pollution and the negative effects it has on the environment. For some Car Rental companies, this step might be as an alternative to higher oil prices, and for others, it may be a push by the rigorous emission standards that governments are imposing across countries.

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Australia Car Rental Market Outlook : 20172030

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Australia Car Rental Market Outlook : 20172030 Australia Car Rental Market Share, By Rental Type, 2017-2030

20.00 20.00 % %

Interstate Services

2017

Intrastate Services

60.00 %

21.00%

Government is also providing the driving privileges for foreign tourists, making them eligible for driving a vehicle across the country with valid driving license and passports. Such favorable regulations and rising number of foreign tourists across major geographies has significantly driven the self-driving car rental market.

23.00%

2025

56.00%

Airport Transfers

The Australia car rental market has grown to reach nearly USD XX billion in 20015-16, of the total, intrastate services revenue accounted for USD XX billion.

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Car rental service providers are Australia Car Rental Market Y-O-Y Growth, By Rental Type, , 2017- now able to take advantage of internet which enables them to 2030 provide new distribution channels, ease of bookings and door step services. Technological XX% XX% XX% XX% XX% advancement also provided the car XX% XX% XX% XX% rental operators the ability to provide services which include selfservice kiosk, online check-in, loyalty programs among others to make the rental process faster and smoother. 2016e

2017f

2018f

2019f

2020f

2021f

2022f

2023f

2024f

Australia Car Rental Market Size (USD Billion), By Rental Type-2017-2030 XX

2016 Intrastate Services

2024 Interstate Services2

Airport Transfers

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Australia Car Rental Market Attractiveness and BPS Analysis by Rental Type, 2017-2030 Australia Car Rental Market Attractiveness-By Rental Type, 2017-2030 XX%

XX%

XX% XX

m a S XX

Intestate Services

Intrastate Services

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Airport Transfers

Intrastate services holds the largest revenue share in the Australia Car Rental and leasing market as this segment constitutes major taxi services and car sharing business models which are the future of the car hailing industry and likely to expand at XX% CAGR during the forecast period.

SAMPLE

Car Rental services market in China is expanding with revenues projected to grow at XX% over the forecast period. The number of licensed drivers is about three times the cars present in the country. Due to traffic problems,

Australia Car Rental Market BPS Analysis- By Type 2017-2030 XX% XX%

XX%

Airport Transfers

XX% XX% XX%

60%

52%

Intrastate Services

XX% Interstate Services

XX% XX% XX%

20%

26%

XX% 2016

2024

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Australia Car Rental Market Outlook Outlook : 2017-2030

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Australia Car Rental Market Outlook Hertz (Company Overview & Business Strategy)

Founded 1926

Employees 51,458

Key Products

Company Overview 

 



Website www.PiHERTZ.com

Headquarters Japan

Hertz Corporation Motor Corporation is a Japanese automotive and material handling equipment manufacturer headquartered in Hertz Corporation, Aichi, Japan.

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Internal Combustion Lift truck Reach Truck

The Company is traded on the New York Stock Exchange (NYSE)

Low Lift Truck

Hertz Corporation was the largest automobile manufacturer in 2012 (by production) ahead of the Volkswagen Group and General Motors.

Warehouse Logistics

The Industrial Vehicle segment provides forklift trucks, warehouse equipment, automatic warehouse, vehicles for high-place work.

Simple AGV (Automated Guided Vehicles)

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Lift trucks, which capture the top Australia market share*, are delivered to customers around the world under the Hertz Corporation, BT, RAYMOND and CESAB brands.

Automated storage and retrieval system

Business Strategy

Improves quality control structure and Australiaization: The company has adopted various methods to enhance their manufacturing structure which helps the company to improve the quality of their automobile products. Moreover, the company is looking forward towards expansion of Australiaization. Hertz Corporation Motors adopted Hertz Corporation Australia Vision in 2011 to improve the quantitative expansion across the globe. The company is investing a huge amount for research and development activities to introduce the future of material handling equipment such as hydrogen powered forklifts and automated guided vehicles. The company spend USD 588.11 Million in 2017 for research and development of their products and services. Hertz Corporation motors is one of the largest automobile anacross the globe and expected to lead other Australia companies in near future.

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Australia Car Rental Market Outlook

Revenue (USD Billion)

Hertz Corporation(Revenue & Financial Analysis)

XX XX

2014

e l p m e 2015

2016

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Fig: 9-2 Material Handling Equipment Sales (Thousand Units), 2014-2017 Fig: 9-3 Hertz Corporation Corporation Revenue (USD Billion), 2014-2017 XX

XX XX

XX XX 2014

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XX XX

Business Strategy

2015

XX XX XX XX

2016

2014

2015

2016

Improves quality control structure and Australiaization: The company has adopted various methods to enhance their manufacturing structure which helps the company to improve the quality of their automobile products. Moreover, the company is looking forward towards expansion of Australiaization. Hertz Corporation Motors adopted Hertz Corporation Australia Vision in 2011 to improve the quantitative expansion across the globe. The company is investing a huge amount for research and development activities to introduce the future of material handling equipment such as hydrogen powered forklifts and automated guided vehicles. The company spend USD 588.11 Million in 2017 for research and development of their products and services. Hertz Corporation motors is one of the largest automobile and material handling equipment manufacturer across the globe and expected to lead other Australia companies in near future. Copyright

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Australia Car Rental Market Outlook Hertz Corporation (Business Segments & Recent News)

Hertz Corporation Revenue (%)-By Business Segments, 2017 XX%

XX%

Autom otive XX%

XX%

Hertz Corporation Revenue (%), By Region, 2017

XX%

Materi al Handli ng

XX%

Japan NorthAmerica

XX%

Europe Asia XX%

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Other

Key Findings

 Hertz Corporation Corporation (TICO) has signed an agreement to acquire Vanderlande – the Australia market leader for value-added logistic process automation at airports and in the parcel market, as well as being a leading supplier for warehouses – from the company’s current owner NPM Capital

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 Hertz Corporation Corporation announces that it has concluded an agreement with major North American materials handling systems integrator Bastian Solutions LLC (“Bastian”) to acquire the company. The acquisition of Bastian signify Hertz Corporation' full-scale entry into the North American materials handling solutions industry amid the e-commerce boom. Strategy Business  To expand company’s presence in emerging countries, Hertz Corporation acquired the lift truck business of Taiwan-based Tailift Co., Ltd. In August 2015. By capitalizing on Tailift’s strength, company aimed to increase its sales in emerging c9oountries where market expansion is expected over the medium to long term.

Improves quality control structure and Australiaization: The company has adopted various methods to enhance their manufacturing structure which helps the company to improve the quality of their automobile products. Moreover, the company is looking forward towards expansion of Australiaization. Hertz Corporation Motors adopted Hertz Corporation Australia Vision in 2011 to improve the quantitative expansion across the globe. The company is investing a huge amount for research and development activities to introduce the future of material handling equipment such as hydrogen powered forklifts and automated guided vehicles. The company spend USD 588.11 Million in 2017 for research and development of their products and services. Hertz Corporation motors is one of the largest automobile and material handling equipment manufacturer across the globe and expected to lead other Australia companies in near future. Copyright

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Australia Car Rental Market Outlook

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