{"product_id":"philippines-car-rental-market-outlook-to-2027","title":"Philippines Car Rental Market Outlook to 2027","description":"\u003cp\u003ePhilippines Car Rental Market Outlook to 2027\u003cbr\u003e\nThe report provides a comprehensive analysis of the potential of the Car Rental industry in Philippines. The report covers an overview and genesis of the industry, and market size in terms of revenue and fleet size.\u003c\/p\u003e\n\n\u003cp\u003ewe are covering five markets in this report – Car Rental, Car Leasing, Ride Sharing, Ride Hailing and Self Drive markets; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.\u003c\/p\u003e\n\n\u003cp\u003eMarket Overview:\u003c\/p\u003e\n\n\u003cp\u003eAccording to Ken Research estimates, the Philippines Car Rental Market – which is at $~293.0 Mn in 2022 – is forecasted to grow further into a $ ~ 448.7 Mn by 2027, owing to the expansion of the tourism industry, the increase in internet penetration and adoption of smart phones in the country.\u003c\/p\u003e\n\n\u003cp\u003eLeisure travel is estimated to continue being the highest revenue generating segment with the increase in tourism across the country.\u003c\/p\u003e\n\n\u003cp\u003eTourists and Corporate Clients are majority of the customers of the market.\u003c\/p\u003e\n\n\u003cp\u003ePlayers are looking to expand their fleet size to premium cars to offer comfort and luxury to customers.\u003c\/p\u003e\n\n\u003cp\u003eKey Trends by Market Segment:\u003c\/p\u003e\n\n\u003cp\u003eBy Type of Booking: In the last few years, the mode of booking for car rental services has shifted to online platforms with 60% bookings being made online. This can be attributed to the increasing internet penetration and familiarity of online bookings across the country.\u003c\/p\u003e\n\n\u003cp\u003eBy Type of Car: Medium sized cars are the most preferable type of cars by people as it is comfortable and affordable. It is also convenient for tourists as they have luggage to carry as well.\u003c\/p\u003e\n\n\u003cp\u003eCompetitive Landscape\u003c\/p\u003e\n\n\u003cp\u003eThe Philippines Car Rental Market is highly fragmented with multiple players competing on the basis of fleet size, rental fee charged and quality of vehicles among others. Avis, one of the oldest companies in this market, has managed to remain the market leader with the highest market share of 4.60%.Philippines Car Leasing Market is consolidated with Orix capturing 75% of the leasing market in Philippines. Other players include Hertz, Diamond Rent-a-Car and ECLPI among others.\u003c\/p\u003e\n\n\u003cp\u003ePhilippines Ride Hailing Market is highly consolidated with Grab capturing 93% of the hailing market in Philippines. With the acquisition of Uber by Grab in Philippines in 2018, Grab has captured the ride hailing market, leaving very less for the remaining players. Other players include Joyride app and others.\u003c\/p\u003e\n\n\u003cp\u003ePlease Note: It will take 5-7 business days to complete the report upon order confirmation.\u003c\/p\u003e","brand":"Heavy Industry","offers":[{"title":"July, 2023 \/ 166 Pages \/ MCW16220348","offer_id":47631495725362,"sku":null,"price":5700.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/philippines-car-rental-market-outlook-to-2027","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}