China Car Rental Market Introduction and Overview
According to SPER Market Research, the China Car Rental Market is estimated to reach USD XX billion by 2033 with a CAGR of XX%.
The report includes an in-depth analysis of the China Car Rental Market, including market size and trends, product mix, Applications, and supplier analysis. The process of temporarily renting an automobile from a rental car company or agency is referred to as car rental. It enables people or organisations to use an automobile for a predetermined amount of time, which can be anything from a few hours to several days or weeks. Customers can choose from a variety of vehicles offered by car rental businesses, ranging from economical automobiles to luxury cars, depending on their unique needs and preferences. When one's own vehicle is not available, business travels, vacations, or other events call for transportation, a car rental offers a versatile and practical option. It provides mobility without the long-term commitment and duties associated with owning a car.
Market Opportunities and Challenges
Opportunities: The expansion of local operators' fleet capacities, investments from overseas vehicle rental companies, joint ventures with domestic players and dealers, and other factors all contribute to the growth of the automobile rental market in China. With the development of technology, many opportunities have been created for the growth of car rental market in China as clients have increasingly chosen to rent a car online, due to its convenience, during the past few years. Since it offers extra features that allow for real-time monitoring of a rental car's performance and maintenance. With the use of these capabilities, fleet managers and drivers were able to better and more quickly detect concerns and execute changes to their rental services.
Challenges: The regulatory complexity in China, with distinct laws and specifications in each region, is a major barrier. Margin pressures may be brought on by price wars, fierce competition between domestic and foreign competitors, and other factors. For automobile rental companies, managing a fleet of vehicles, maintenance expenses, and depreciation issues are continuous considerations.
Market Competitive Landscape
There are more than a hundred businesses operating in China's extremely fragmented car rental industry, and their fleet sizes average less than 50 cars. Offering a wide variety of services allows businesses to obtain a competitive edge over rivals. The major players in the market include: Avis Budget Group Inc., Beijing Shouqi Group Corp., CAR Inc., eHi Car Services Ltd., Shanghai Bashi Industrial (Group) Co Ltd., Shanghai Jinjiang Holdings Co Ltd., Shenzhen TopOne Car Rental Co Ltd., Yongda Group, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Car Type, By Application, By Booking Type, By End-User Type
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| Regions covered | Beijing, Changsha, Hangzhou, Shenzhen, Wuhan, Others
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| Companies Covered | Avis Budget Group Inc., Beijing Shouqi Group Corp., CAR Inc., eHi Car Services Ltd., Shanghai Bashi Industrial (Group) Co Ltd., Shanghai Jinjiang Holdings Co Ltd., Shenzhen TopOne Car Rental Co Ltd., Yongda Group, Others
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COVID-19 Impact on China Car Rental Market
The COVID-19 outbreak had a significant effect on the car rental industry in China. The demand for rental services fell precipitously as a result of the harsh lockdowns, travel restrictions, and decreased tourism. As remote work became more common, corporate travel and international tourism drastically reduced, placing financial burden on rental firms as a result of fewer reservations. The sector changed its focus to long-term rentals and strict safety regulations in order to adapt. Although the business started to rebound as the pandemic situation got better, the industry is still impacted by the long-term repercussions on travel habits and consumer preferences. In the post-pandemic environment, car rental companies are putting more of an emphasis on digital solutions and contactless services.
Key Target Audience:
- Business Travellers
- Local Residents without a car
- Tourists and Travellers
- Other
Our in-depth analysis of the China Car Rental Market includes the following segments:
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By Car Type:
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Economy car
Executive car
Luxury car
Multi utility vehicle (MUV) car
Sports utility vehicle (SUV) car
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By Application:
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Business
Leisure/Tourism
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By Booking Type:
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Offline Access
Online Access
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By End-User Type:
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Chauffer Driven
Self-Driven
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Key Topics Covered in the Report:
- China Car Rental Market Size (FY’2023-FY’2033)
- Overview of China Car Rental Market
- Segmentation of China Car Rental Market By Car Type (Economy car, Executive car, Luxury car, Multi utility vehicle car, Sports utility vehicle car)
- Segmentation of China Car Rental Market By Application (Business, Leisure/Tourism)
- Segmentation of China Car Rental Market By Booking Type (Offline Access, Online Access)
- Segmentation of China Car Rental Market By End-User Type (Chauffer Driven, Self-Driven)
- Statistical Snap of China Car Rental Market
- Expansion Analysis of China Car Rental Market
- Problems and Obstacles in China Car Rental Market
- Competitive Landscape in the China Car Rental Market
- Impact of COVID-19 and Demonetization on China Car Rental Market
- Details on Current Investment in China Car Rental Market
- Competitive Analysis of China Car Rental Market
- Prominent Players in the China Car Rental Market
- SWOT Analysis of China Car Rental Market
- China Car Rental Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the China Car Rental Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. China Car Rental Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in China Car Rental Market
7. China Car Rental Market, By Car Type (USD Million)
7.1. China Car Rental Market Value Share and Forecast, By Car Type, 2023-203
7.2. Economy car
7.3. Executive car
7.4. Luxury car
7.5. Multi utility vehicle (MUV) car
7.6. Sports utility vehicle (SUV) car
8. China Car Rental Market, By Application (USD Million)
8.1. China Car Rental Market Value Share and Forecast, By Application, 2023-2033
8.2. Business
8.3. Leisure/Tourism
9. China Car Rental Market, By Booking Type (USD Million)
9.1. China Car Rental Market Value Share and Forecast, By Booking Type, 2023-2033
9.2. Offline Access
9.3. Online Access
10. China Car Rental Market, By End-User Type (USD Million)
10.1. China Car Rental Market Value Share and Forecast, By End-User Type, 2023-2033
10.2. Chauffer Driven
10.3. Self-Driven
11. China Car Rental Market Forecast, 2019-2033 (USD Million)
11.1. China Car Rental Market Size and Market Share
12. China Car Rental Market, By Car Type, 2019-2033 (USD Million)
12.1. China Car Rental Market Size and Market Share By Car Type (2019-2026)
12.2. China Car Rental Market Size and Market Share By Car Type (2027-2033)
13. China Car Rental Market, By Application, 2019-2033 (USD Million)
13.1. China Car Rental Market Size and Market Share By Application (2019-2026)
13.2. China Car Rental Market Size and Market Share By Application (2027-2033)
14. China Car Rental Market, By Booking Type, 2019-2033 (USD Million)
14.1. China Car Rental Market Size and Market Share By Booking Type (2019-2026)
14.2. China Car Rental Market Size and Market Share By Booking Type (2027-2033)
15. China Car Rental Market, By End-User Type, 2019-2033 (USD Million)
15.1. China Car Rental Market Size and Market Share By End-User Type (2019-2026)
15.2. China Car Rental Market Size and Market Share By End-User Type (2027-2033)
16. China Car Rental Market, By Region, 2019-2033 (USD Million)
16.1. China Car Rental Market Size and Market Share By Region (2019-2026)
16.2. China Car Rental Market Size and Market Share By Region (2027-2033)
16.3. Beijing
16.4. Changsha
16.5. Hangzhou
16.6. Shenzhen
16.7. Wuhan
16.8. Others
17. Company Profile
17.1. Avis Budget Group Inc.
17.1.1. Company details
17.1.2. Financial outlook
17.1.3. Product summary
17.1.4. Recent developments
17.2. Beijing Shouqi Group Corp.
17.2.1. Company details
17.2.2. Financial outlook
17.2.3. Product summary
17.2.4. Recent developments
17.3. CAR Inc.
17.3.1. Company details
17.3.2. Financial outlook
17.3.3. Product summary
17.3.4. Recent developments
17.4. eHi Car Services Ltd.
17.4.1. Company details
17.4.2. Financial outlook
17.4.3. Product summary
17.4.4. Recent developments
17.5. Shanghai Bashi Industrial (Group) Co Ltd.
17.5.1. Company details
17.5.2. Financial outlook
17.5.3. Product summary
17.5.4. Recent developments
17.6. Shanghai Jinjiang Holdings Co Ltd.
17.6.1. Company details
17.6.2. Financial outlook
17.6.3. Product summary
17.6.4. Recent developments
17.7. Shenzhen TopOne Car Rental Co Ltd.
17.7.1. Company details
17.7.2. Financial outlook
17.7.3. Product summary
17.7.4. Recent developments
17.8. SCG Nichirei Logistics Co. Ltd
17.8.1. Company details
17.8.2. Financial outlook
17.8.3. Product summary
17.8.4. Recent developments
17.9. Yongda Group
17.9.1. Company details
17.9.2. Financial outlook
17.9.3. Product summary
17.9.4. Recent developments
17.10. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
