Philippines Car Rental Market Driven by Favorable Government Initiatives and Expansion of the Car Rental Network in the Non Metropolitan Regions: Ken Research
GURUGRAM, India, May 6, 2019 Key Findings
- Low speed of internet does not allow the internet based booking system to be well accepted by the customers. The country ranks 74th out of 77 countries in terms of 4G speed.
- The metropolitan regions in Philippines have already been captured by Grab and hence there is very little prospect of high growth in demand from these regions
- National Economic and Development Authority in Philippines, plans to develop the infrastructure, education and healthcare in the cities as the country expects shift from rural to urban regions in huge numbers by 2050.
Government Initiatives to Promote Tourism and Business: Philippines Government is updating its National Plan for Tourism, by redeveloping cities, reducing seasonality and strengthening economic linkages to promote business environment and position Philippines as a MICE destination. The Government has also been planning to develop infrastructure to improve tourism by planning to construct new Airports.
Cab Aggregator Market to be Driven by the Demand from Non Metropolitan regions: The Cab aggregator market, well established in the metro cities, has not been able to set up a wide network in the non metropolitan regions. Grab, the market leader, has been able to capture the metropolitan regions and the new players are focusing on establishing themselves in the non metro cities so as to be able to tap on the un-catered market.
Introduction of Electric Vehicles: With sustainable development as one its main thrusts, the Philippine government has been emphasizing on the use of electric vehicles across the country, especially as a form of public transportation. The establishment of "green cities" is also expected to generate higher demand for e-vehicles for public transportation.
Analysts at Ken Research in their latest publication "Philippines Car Rental, Car Leasing, Cab Aggregator and Yellow Taxi Market Outlook to 2023 – Driven by Planned Fleet Addition and Growth in Tourism and Construction Sector" believe that the car rental market in Philippines will grow due to intense competition amongst the major domestic players to grab the maximum market share by aiming to provide better value added services and as many benefits and promotional offers.
Key Segments Covered
Car Rental Market By
- Purpose of Hire
- Leisure
- Business
- Insurance Replacement
- Region
- Luzon
- Visayas
- Mindanao
- Type of Car
- Economy
- SUV/AUV
- Premium
- Booking Type
- Offline
- Online and App Booking
Car Leasing Market
- Duration of Lease
- First Year
- Second Year
- Third Year
- Four Year or More
- By Region
- Luzon
- Visayas
- Mindanao
- Sedans
- Type of Car
- Sedans
- SUV/AUV
- Premium
Cab Aggregator Market
- Region
- Metropolitan
- Non Metropolitan
Yellow Taxi (Key Parameters and Fleet Size)
Key Target Audience
- Car Rental Companies
- Cab Aggregator Companies
- Car Leasing Companies
- Automobile Companies
- Tourism Companies
- Corporate Sector
- Hospitality Sector
Time Period Captured in the Report:
- Historical Period: 2013-2018
- Forecast Period: 2018-2023E
Companies Covered:
- Avis
- Budget
- Nissan
- Europcar
- Hertz
- Orix
- Diamond Rental
- Grab
- Owto
- Hirna
- Go Lag
- U Hope
- Micab
Key Topics Covered in the Report
- Executive Summary
- Research Methodology
- Car Rental Market
- Car Leasing Market
- Cab Aggregator Market
- Snapshot on Yellow taxi
For more information, refer to below link:
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