SOURCE: MarketResearch.com

MarketResearch.com

February 08, 2012 06:08 ET

Market Research Projects Car Rental Market in BRIC to Grow at 14% CAGR Through 2016

ROCKVILLE, MD--(Marketwire - Feb 8, 2012) - MarketResearch.com has announced the addition of the new report "Market Entry Strategies and Emerging Opportunities in the Car Rental Industry in BRIC," to their collection of Automotive market reports. For more information, visit http://www.marketresearch.com/BRICdata-v3901/Entry-Strategies-Emerging-Opportunities-Car-6777018/

The four BRIC countries (Brazil, Russia, India and China) have a combined population of around three billion, slightly less than half the world's total population. The car rental industry in these four countries has been on a fast growth trajectory over the past last five years, having increased at a CAGR of around 20%. Over the next five years, the overall car rental industry in the BRIC nations is expected to continue to grow strongly at a CAGR of 13.47%, and is expected to reach US$17.04 billion in 2016, from a base of US$8.90 billion in 2011.

There are some significant growth drivers for the car rental industry in the BRIC nations. Liberalization and privatization of industry and massive foreign direct investment, along with relative cost advantages are encouraging strong growth in each of the four markets. Increasing GDP levels, high levels of personal disposable income, increasing volumes of both domestic and inbound tourists and increasing levels of economic activity are the key driving forces behind increased demand in the car rental industry in the BRIC nations.

Report Highlights

  • The four BRIC countries (Brazil, Russia, India and China) have a combined population of around three billion, slightly less than half the world's total population. The car rental industry in these four countries has been on a fast growth trajectory over the past last five years, having increased at a CAGR of around 20%. Over the next five years, the overall car rental industry in the BRIC nations is expected to continue to grow strongly at a CAGR of 13.47%, and is expected to reach US$17.04 billion in 2016, from a base of US$8.90 billion in 2011.
  • In the Brazilian car rental industry, growth is expected to be driven by the hosting of international sports events such as the 2014 FIFA World Cup and the 2016 Olympic Games, increasing volumes of both leisure and business tourists.
  • Key growth drivers in the Russian market include government initiatives to improve the country's infrastructure, and the increasing volume of tourists in both the leisure and business segments.
  • In India, as well as targeting leisure and business tourists, car rental companies are also partnering with large corporate houses and business process outsourcing (BPO) companies for their travel requirements.
  • In China, the new government policy on curbing private car usage which places restrictions on people buying or owning a vehicle is expected to drive the demand for car rental.

For more information, visit http://www.marketresearch.com/BRICdata-v3901/Entry-Strategies-Emerging-Opportunities-Car-6777018/

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