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Increasing Urbanization To Fuel Growth Of Car Rental Market In India

Press Release   •   Feb 24, 2017 12:50 IST

A research study, titled “India Car Rental Market: Trends, Opportunities And Forecasts (2016-2021)” - (By Value, By Region, By Segment - Radio Taxi, Corporate Rental, Aggregators and Affilators; Key Players; Market Share And Dynamics),” has been recently added by MarketResearchReports.biz to its huge repository of research studies. The research study further provides a detailed analysis of the car rental market in India, focusing on the product segmentation, competitive scenario, and major geographical segments of the India market.

In the last five years, the car rental market in India has witnessed moderate growth, thanks to the increasing economic development and urbanization in India. However, the market has gained speed owing to the increased penetration of the internet across India, growth of the organized sector, and growing disposable incomes of the urban middle class. In addition, the extensive investments for technological purposes by major players are expected to contribute significantly towards the growth of the car rental market in India throughout the forecast period. The huge amounts being spent by the players on advertising and marketing have further fueled the growth of the car rental market in India.

On the basis of type, the car rental market in India has been divided into unorganized and radio taxis. Among these, in 2015, the unorganized segment accounted for an 89% share in the car rental market in India and is estimated to hold a 75% share in the overall market by the end of 2021, owing to the growth of the radio taxi segment. The rapid growth of the radio taxi segment can be attributed to the growing number of tourists in the country and increasing penetration of radio taxis in tier II cities.

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Furthermore, the India car rental market has been categorized on the basis of geography into North India, South India, East India, and West India. The share of each region and estimated statistics have been discussed in the scope of the research report. The tourism industry has been gaining traction in all regions of the country, boosting the demand for car taxis.

The research study talks about the competitive scenario of the car rental market in India in the last section of the report. A thorough analysis of the major players operating in the car rental market in India has been discussed in the scope of the report, including their contact information, inception details, business strategies and policies, and major events. Some of the major players operating in the car rental market in India are Meru Cab, Just Ride, Revv, Savaari, ZoomCar, Ola, Carzonrent, and Uber. The SWOT analysis included in the study will help new players in the market in formulating their strategies effectively.

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