The Global Car Rental Market To 2018 Report Code: TT0203MR Publication Date: December 2014 www.tourism-ic.com John Carpenter House 7 Carmelite Street London EC4Y 0BS United Kingdom Tel: +44 (0)20 7936 6400 Fax: +44 (0)20 7336 6813 Global Car Rental Market to 2018 Page 1 © Travel & Tourism Intelligence Center. This product is licensed and is not to be photocopied Published: December 2014 SUMMARY 1 SUMMARY According to the Travel &Tourism intelligence center (TTIC) analysis based on 40 countries around the world, the US was the leader in the car rental market in terms of both market value and fleet size. The US recorded US$XX.XX billion market value in 2013, which is more than six times that of its competitor, Japan, which recorded US$ XX.XX billion market value in 2013. The Eurozone crisis had a negative impact on the Travel and Tourism sector in European countries. However, car rental KPIs showed resilience in many countries (with the exception of Italy and Spain) with overall growth recorded in KPIs during the historic period. The hosting of international events such as Olympic Games in London in 2012 and Winter Olympic Games in Russia in 2014 have partially supported the growth. Challenging economic conditions and fierce competition have resulted in a large number of deals recorded in the global car rental market during the historic period as a means for operators to improve profitability and remain competitive. Some of the biggest deals in the car rental market were recorded in the US such as the acquisition of Dollar Thrifty Automotive Group by Hertz. Several leading car rental operators from North American and Europeans market are trying to expand their business in Asia–Pacific, Africa, and South and Central America by entering into joint ventures and partnerships to develop new hotels and benefit from the growing demand for car rental in these emerging markets. 2 SYNOPSIS The report provides detailed market analysis, information and insights, including: Historic and forecast revenue of the global car rental market, covering 40 countries Detailed analysis, region-wise (Americas, Asia-Pacific, Europe, Middle East & Africa),of car rental companies' key performance indicators such as market value by business travelers, market value by leisure travelers, market value at airports, market value at non-airports, fleet size, number of rental occasions, number of rental days, average rental length, utilization rate, and average revenue per day for the historic and forecast periods Brief analysis of the global car rental market and the present scenario Detailed analysis of the market trends in key car rental markets 3 REASONS TO BUY Make strategic business decisions using historic and forecast market data related to the global car rental market Understand the key market trends and growth opportunities in the global car rental market Gain strategic insights on the leading global car rental companies Global Car Rental Market to 2018 Page 2 © Travel & Tourism Intelligence Center. This product is licensed and is not to be photocopied Published: December 2014 GLOBAL CAR RENTAL KPIS – THE AMERICAS 4 GLOBAL CAR RENTAL KPIS – THE AMERICAS The US was the largest car rental market in the American region (and globally) with a total market value of US$XX.XX billion in 2013, which is more than 10 times of the closest competitor in Canada with a market value of US$ XX.XX billion. Argentina was the smallest market with total value worth US$ XX.XX million. Peru, which is an underdeveloped car rental market, recorded the highest growth in the total car rental market value at a CAGR of XX.XX % during the historic period Figure 1: The Americas – Top Three Markets by Value(US$ Million), 2013 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 Brazil Canada The US Source: TTIC analysis, Trade Press, Brazilian Car Rental Association, Company Information, National Statistics, United States Census Bureau © Travel & Tourism Intelligence Center Global Car Rental Market to 2018 Page 3 © Travel & Tourism Intelligence Center. This product is licensed and is not to be photocopied Published: December 2014 GLOBAL CAR RENTAL KPIS – THE AMERICAS 4.1 The Americas – market value by customer type – business (2009–2018) The US recorded the largest business car rental market value in the Americas, at US$ XX.XX billion, in2013. However, it recorded the slowest growth in market value at a CAGR of XX.XX % during the historic period Canada is expected to record the highest growth in business-related car rental market value over the forecast period at a CAGR of XX.XX % Table 1: The Americas – Market Value by Customer Type – Business (US$ Million), 2009–2018 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Argentina Brazil Canada Mexico Peru The US Source: TTIC analysis, Trade Press, Brazilian Car Rental Association, Company Information, National Statistics, United States Census Bureau © Travel & Tourism Intelligence Center Global Car Rental Market to 2018 Page 4 © Travel & Tourism Intelligence Center. This product is licensed and is not to be photocopied Published: December 2014 GLOBAL CAR RENTAL KPIS – THE AMERICAS Figure 2: The Americas – Market Value by Customer Type – Business (US$ Million), 2009–2013 2013 2012 2011 2010 2009 The US Peru Mexico Canada Brazil Argentina 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 Source: TTIC analysis, Trade Press, Brazilian Car Rental Association, Company Information, National Statistics, United States Census Bureau © Travel & Tourism Intelligence Center Figure 3: The Americas – Market Value by Customer Type – Business (US$ Million), 2014–2018 2018 2017 2016 2015 2014 The US Peru Mexico Canada Brazil Argentina 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 Source: TTIC analysis, Trade Press, Brazilian Car Rental Association, Company Information, National Statistics, United States Census Bureau © Travel & Tourism Intelligence Center Global Car Rental Market to 2018 Page 5 © Travel & Tourism Intelligence Center. This product is licensed and is not to be photocopied Published: December 2014 GLOBAL CAR RENTAL KPIS – THE AMERICAS 4.2 The Americas – market value by customer type –leisure (2009–2018) The majority of car rental in the US is for leisure purposes, which accounted for XX.XX % of the total car rental market value in 2013. It also recorded the largest leisure car rental market value in the Americas, at US$ XX.XX billion in 2013 Peru recorded the highest growth in market value during the historic period at a CAGR of XX.XX % while Argentina recorded a decline in leisure purpose car rental market value at a CAGR of XX.X % The US is expected to record the highest growth over the forecast period at a CAGR of XX.XX % Table 2: The Americas – Market Value by Customer Type –Leisure (US$ Million), 2009–2018 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Argentina Brazil Canada Mexico Peru The US Source: TTIC analysis, Trade Press, Brazilian Car Rental Association, Company Information, National Statistics, United States Census Bureau © Travel & Tourism Intelligence Center Global Car Rental Market to 2018 Page 6 © Travel & Tourism Intelligence Center. This product is licensed and is not to be photocopied Published: December 2014 GLOBAL CAR RENTAL KPIS – THE AMERICAS Figure 4: The Americas – Market Value by Customer Type –Leisure (US$ Million), 2009–2013 2013 2012 2011 2010 2009 The US Peru Mexico Canada Brazil Argentina 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 20,000 Source: TTIC analysis, Trade Press, Brazilian Car Rental Association, Company Information, National Statistics, United States Census Bureau © Travel & Tourism Intelligence Center Figure 5: The Americas – Market Value by Customer Type –Leisure (US$ Million), 2014–2018 2018 2017 2016 2015 2014 The US Peru Mexico Canada Brazil Argentina 0 5,000 10,000 15,000 20,000 25,000 30,000 Source: TTIC analysis, Trade Press, Brazilian Car Rental Association, Company Information, National Statistics, United States Census Bureau © Travel & Tourism Intelligence Center Global Car Rental Market to 2018 Page 7 © Travel & Tourism Intelligence Center. This product is licensed and is not to be photocopied Published: December 2014 GLOBAL CAR RENTAL KPIS – THE AMERICAS 4.3 The Americas – market value by location – airport (2009–2018) Car rentals made at airports accounted for the largest share of XX.XX % of total car rental market value in the US in 2013. The US was the leading market in the Americas in terms of car rental revenue generated from airport rentals, at US$ XX.XX billion in 2013 Peru recorded the highest growth in market value during the historic period at a CAGR of XX.XX %, while Argentina recorded a decline in airport car rental market value at a CAGR of XX.XX % Table 3: The Americas – Market Value by Location – Airport (US$ Million), 2009–2018 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Argentina Brazil Canada Mexico Peru The US Source: TTIC analysis, Trade Press, Brazilian Car Rental Association, Company Information, National Statistics, United States Census Bureau © Travel & Tourism Intelligence Center Global Car Rental Market to 2018 Page 8 © Travel & Tourism Intelligence Center. This product is licensed and is not to be photocopied Published: December 2014 GLOBAL CAR RENTAL KPIS – THE AMERICAS Figure 6: The Americas – Market Value by Location – Airport (US$ Million), 2009–2013 2013 2012 2011 2010 2009 The US Peru Mexico Canada Brazil Argentina 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 Source: TTIC analysis, Trade Press, Brazilian Car Rental Association, Company Information, National Statistics, United States Census Bureau © Travel & Tourism Intelligence Center Figure 7: The Americas – Market Value by Location – Airport (US$ Million), 2014–2018 2018 2017 2016 2015 2014 The US Peru Mexico Canada Brazil Argentina 0 5,000 10,000 15,000 20,000 25,000 Source: TTIC analysis, Trade Press, Brazilian Car Rental Association, Company Information, National Statistics, United States Census Bureau © Travel & Tourism Intelligence Center Global Car Rental Market to 2018 Page 9 © Travel & Tourism Intelligence Center.