|By PR Newswire||
|February 5, 2014 02:11 PM EST||
NEW YORK, Feb. 5, 2014 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
Market Insight on the Indonesian Car Rental Market
Strong Economic Growth and Increase in Travelers to Drive Market Growth in the Future
This study gives an insight into the car rental market in Indonesia. It includes an executive summary, country overview, key macroeconomic indicators, market definitions, market value and fleet size, growth indicators, types of customers and their segmentation, drivers and restraints, competitive analysis, key conclusions and future outlook, key success factors, and three big predictions for the future.
• The Indonesian car rental market had a market size of IDRX trillion in 2012 and has exhibited a AAGR of X% since 2007.
• The fleet size also showed a AAGR of X% since 2007 and numbered X cars in 2012.
• All the key performance indicators suggest that the Indonesian car rental market has been experiencing positive and healthy growth.
• The market has three types of customers: Retail, corporate, and others. The corporate segment has the highest revenue contribution (X%).
• Key trends include growth in the corporate segment, luxury cars, and distribution networks as well as aggressive marketing.
• Key drivers include increasing disposable income, rising volume of tourists/travelers, increasing acceptance among corporates and increase in middle-management customers.
• Key restraints include restriction on foreign direct investment and possible taxes to curb traffic congestion.
• The Indonesian car rental market is extremely fragmented with only a few large-scale operators; TRAC is the leading participant, followed by ASSA and MPMR.
• Majority of the contracts are long-term; among the leading market participants, share of long-term contracts ranges from X toX%.
• Fleet size is expected to grow at a CAGR of X% from X cars in 2012, reaching X cars in 2015.
• Revenue is expected to grow at a CAGR of X% from IDR X trillion in 2012 to IDR X trillion in 2015.
• Revenue growth is expected to outpace fleet size growth, primarily due to increase in utilization rate of vehicles, increase in rental rates, and growing demand for luxury cars.
Executive Summary—Customer Segmentation
The market has three types of customers: retail, corporate, and others. The corporate segment has the highest revenue contribution.
Description: Individuals who hire vehicles for personal use
Types of Customers (representative): • Individuals/ locals
• Business travelers
Nature of Demand: Seasonal demand
Description: Companies, which hire vehicles for senior and middle management, as well as for day-to-day transport of employees
Types of Customers (representative): • Companies across financial services, IT, pharma, oil and gas, telecom, and retail
Nature of Demand: Even demand
Description: Other stakeholders who have a contractual relationship with car rental operators
Types of Customers (representative): • Insurance and leasing companies
• Car dealers and service centers
Nature of Demand: Even demand
Executive Summary—Key Trends in the Indonesian Car Rental Market
Key trends include growth in the corporate segment, luxury cars, and distribution network as well as aggressive marketing.
Growing Corporate Customer Segment
• The demand from corporate customers has been growing, particularly among companies in the banking and IT sectors, which use car rental services as a transportation solution for employees.
• Car rental operators are also increasingly targeting corporate customers as the segment offers stable demand and leads to high fleet utilization.
• Operators are targeting a countrywide footprint to follow customers' geographic expansion. Several deals are sourced in Jakarta and deployment is spread across Indonesia.
• Leading car rental companies are using a franchise model to expand their car rental businesses in Indonesia.
Increasing Demand for Luxury Cars
• The growing number of business travelers in the country has resulted in increased demand for luxury car rental services.
• Several local and international car rental operators have started offering premium services and are adding high-end luxury cars to their fleets.
Aggressive Marketing and Promotions
• Several operators are carrying out joint marketing activities with airlines and hotel operators to offer special incentives and services.
• Leading operators are offering various incentives to repeat customers through membership or loyalty cards.
• For instance, Hertz offers a membership program through which members can enjoy benefits such as faster reservations, discounts, and special offers.
Table of Contents
Executive Summary 4
Country Overview 11
The Car Rental Market in Indonesia 14
External Challenges: Drivers and Restraints 24
Competitive Analysis 29
Market Forecast 36
Key Conclusions and Future Outlook 38
The Frost & Sullivan Story 44
To order this report: Market Insight on the Indonesian Car Rental Market
Contact Clare: [email protected]
Intl: +1 339-368-6001
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