Tourism will play a key role in future growth.
San Francisco, CA (PRWEB) August 25, 2013
The Car Rental industry in China has developed rapidly in the five years through 2013, with total revenue growing at an annualized rate of 24.4% to an estimated $5.0 billion, says IBISWorld. Steady growth has been driven by the expanding customer group for car rental services, rising levels of household disposable income in China and the diversification of services provided by car rental firms.
The Car Rental industry in China is competitive and highly fragmented. The top four enterprises – China Auto Rental Holdings, EHi Auto Services, Anji Car Rental & Leasing, and Shenzhen City Extreme Car Rental – account for 14.3% of industry revenue in 2013, says IBISWorld. Before 2007, the industry was limited by the Interim Rules on Administration of Car Rental Industry, which required industry firms to obtain permission for operation. Once the rule was eliminated, an increasing number of enterprises entered the market. Now, there are a large number of firms operating in the industry, but the majority are small or medium in size with low capital investment and limited networks.
With changes in households' habit for transportation and enhanced car rental services being introduced, the industry is expected to continue growing steadily, says IBISWorld. Steady growth in the tourism sector will also play a key role in the industry's future development.
For more information, visit IBISWorld’s Car Rentals in China industry report page.
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IBISWorld Industry Report Key Topics
The Car Rental industry in China provides short-term (30 days or fewer) and long-term (more than 30 days) rentals of automobiles, such as passenger vehicles and recreation vehicles. The service of renting cars with drivers is excluded.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.