Dublin, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The "Philippines Car Rental Market Outlook to 2027" report has been added to ResearchAndMarkets.com's offering.
The latest comprehensive analysis presents a deep dive into the Philippines Car Rental market's potential through 2027. The research covers an extensive range of factors including the current industry stature, forecasted revenue size, and anticipated growth considering the tailored analytical approach per sub-sector.
Insightful Market Growth Projections
The study brings forward detailed projections, forecasting the market's trajectory from its present size of approximately $293.0 Mn to an impressive $448.7 Mn by the year 2027. This projection rests on the expanding tourism sector, rising levels of internet penetration, and increased adoption of smartphones within the Philippines.
Exploring the Market Dynamics
Unpacking the market dynamics, the research focuses on various elements such as key growth drivers, industry challenges, and emerging trends. The analysis spotlights the significant role of leisure travel and the predominant consumer base comprising tourists and corporate clients in driving revenue.
Upward trends in adoption are attributed to the shift towards online booking platforms, with approximately 60% of bookings now being conducted online — marking a notable change in consumer habits aligned with technological advancements.
Market Segmentation Insights
- By Type of Booking: Online bookings have become the preference, attributed to enhanced internet connectivity and user comfort with digital platforms.
- By Type of Car: Medium-sized vehicles are favored for their balance of comfort, affordability, and practicality, especially among tourists who require space for luggage.
Stance on the Competitive Landscape
The Philippines Car Rental Market is highly fragmented, with Avis reportedly securing the lion's share with a 4.60% market chunk. Similarly, in the car leasing sector, Orix leads with a commanding 75% of the market, whereas in ride-hailing, Grab remains the dominant force, having captured 93% of the market.
The market analysis concludes with future projections on each segment and tailored analyst recommendations, providing stakeholders with essential insights and a clearer outlook on the upcoming trends and market behaviors in the Philippines' car rental industry.
With an in-depth view of the various drivers shaping the market and a comprehensive understanding of the competitive landscape, this report is an indispensable tool for industry participants looking to navigate the complexities of the Philippines Car Rental market in the coming years.
Key Topics Covered:
1. Executive Summary
1.1 Philippines Car Rental Market
1.2 Philippines Car Leasing Market
1.3 Philippines Ride Hailing Market
1.4 Philippines Ride Sharing Market
1.5 Philippines Self-Drive Car Rental Market
2. Country Overview of Philippines
2.1 Socio-Demographic Outlook of Philippines
2.2 Economic Landscape and Internet Penetration of Philippines
3. Philippines Overall Car Rental Market Overview
4. Philippines Overall Car Rental Market Industry Analysis Overview
4.1 Trends and Developments
4.2 SWOT Analysis
4.3 Regulatory Landscape
5. Philippines Car Rental Market
5.1 Market Size on the basis of Revenue and Volume of Fleet Size, 2017-2022
5.2 Market Segmentation by Type of Booking
5.3 Market Segmentation by Type of Car
5.4 Market Segmentation by Purpose
5.5 Industry Analysis: Issues and Challenges
5.6 Industry Analysis: Impact of Covid'19
5.7 Competitive Landscape: Market Share of Companies
5.8 Competitive Landscape: Gartner's Magic
5.9 Competitive Landscape: Cross Comparison
5.10 Competitive Landscape: Strength and Weakness of Major Players
5.11 Future Outlook: Market Size by Revenue and Volume of Fleet Size, 2022-2027
6. Philippines Car Leasing Market
6.1 Market Segmentation by Type of Time Duration
6.2 Market Segmentation by Type of Car
6.3 Market Segmentation by Type of End User
6.4 Competitive Landscape: Market Share of Companies
6.5 Competitive Landscape: Gartner's Magic
6.6 Competitive Landscape: Cross Comparison
6.7 Competitive Landscape: Strength and Weakness of Major Players
6.8 Future Outlook: Market Size by Revenue and Volume of Fleet Size, 2022-2027
7. Philippines Ride Hailing Market
7.1 Market Segmentation by Type of Region
7.2 Industry Analysis: Growth Drivers
7.3 Industry Analysis: Issues and Challenges
7.4 Industry Analysis: Regulatory Landscape
7.5 Competitive Landscape: Market Share of Companies
7.6 Competitive Landscape: Cross Comparison
7.7 Competitive Landscape: Strength and Weakness of Major Players
7.8 Future Outlook: Market Size by Revenue and Volume of Fleet Size, 2022-2027
7.9 Future Outlook: Market Segmentation by Type of Region
8. Philippines Ride Sharing Market
8.1 Market Segmentation by Point of Service
8.2 Market Segmentation by Type of Car
8.3 Market Segmentation by Type of Distance
8.4 Growth Drivers
8.5 Issues and Challenges
8.6 Regulatory Landscape
8.7 Impact of Covid'19
8.8 Competitive Landscape: Market Share of Companies
8.9 Competitive Landscape: Cross Comparison
8.10 Future Outlook: Market Size by Revenue and Volume of Fleet Size, 2022-2027
9. Philippines Self-Drive Car Rental Market
9.1 Market Segmentation by Type of Region
9.2 Market Segmentation by Type of Booking Channel
9.3 Market Segmentation by Type of Usage
9.4 Market Segmentation by Time Period
9.5 Market Segmentation by Type of Car
9.6 Market Segmentation by Type of Booking Period
9.7 Market Segmentation by Type of Car Segmentation
9.8 Market Segmentation by Status Ownership
9.9 Market Segmentation by Point of Service
9.10 Industry Analysis: Issues and Challenges
9.11 Industry Analysis: Impact of Covid'19
9.12 Competitive Landscape: Market Share of Companies
9.13 Competitive Landscape: Gartner's Magic
9.14 Competitive Landscape: Cross Comparison
9.15 Future Outlook: Market Size by Revenue and Volume of Fleet Size, 2022-2027
10. Case Study
10.1 Case Study of Zoomcar
11. Analyst Recommendations
12. Industry speaks
12.1 Interview with Senior Fleet Sales Specialist, Toyota Mobility Solutions
12.2 Interview with Ex Transport Operations Consultant, Grab
12.3 Interview with APAC Regional Sales Manager of a leading car rental company
Company Coverage:
- Diamond Rent-a-Car
- Luxicar
- Voyg
- Rent a Car ECLPI
- Avis
- Hertz
- SafeRideEuropcar
- Thrifty
- Juzzr Car Rental
- Hertz
- Voyg
- SafeRide
- VPIGrab
- JoyRide
- Hirna
- MaximGrab
- HirnaOrix
- Avis
- Diamond Rent-a-Car
- Europcar
- Herts
- ECLPI Rent a Car
For more information about this report visit https://www.researchandmarkets.com/r/elnrgd
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