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The Netherlands Car Rental market is projected to show significant growth, contributing ~ €4k Mn by 2027F with an expected Increase in Travel Expenditure and Rising Foreign Visitors: Ken Research
Un-Organized channel is likely to fall as business corporates, and international tourists prefer security for renting cars. Less percentage of the Dutch population is to prefer unorganized as rental prices are cheaper. As with rising internet penetration and ownership of smartphones, it is expected that customers will make bookings online as it is more convenient for bookings with additional discounts and saving time.
The Netherlands was chosen as the next logical destination in the country, as the other two big economies in Europe , France , and Spain , have several regulations and strong taxi unions. In the coming years, the Netherlands is to restrict all newly registered taxis and rental cars in the big cities to zero-emission vehicles after 2025. Other parts of the country are allowed until 2030.
Analysts at in their latest publication observed the potential of the Car Rental Market in the Netherlands . The expansion of the tourism industry with rising foreign tourists in the Netherlands and On- Demand for transportation, the rising need for transportation options in the Netherlands , and increasing demand from customers along with government incentives on electric vehicles are expected to contribute to the market growth over the forecast period. The Netherlands Car Rental Market is expected to grow at 13.7% CAGR over the forecasted period 2022P-2027F owing to the increasing demand from the working-age population and expansion of the tourism and travel Industry.
According to Ken Research estimates, the Bahrain car rental market is expected to witness healthy growth during the forecast period of 2017P-2027F This growth can be attributed to the increasing demand for car rental services from tourists, business travelers, and locals. Additionally, the increasing number of international flights to Bahrain and the growing disposable income of the population are expected to further drive the growth of the market.
According to Ken Research estimates, the Japan Car Rental Market is forecasted to grow at a robust CAGR in the period of 2022P-2027F, owing to the increased internet and smartphone penetration, rising population and increasing demand from tourists for business and leisure purposes hiring rental cars. The Japan Car Rental market is projected to show a significant growth of CAGR ~% in the forecasted period of 2022P-2027F, with increase in travel expenditure, rising demand for rental cars, increased internet and smartphone penetration, rising population and increasing demand from tourists for business and leisure purposes hiring rental cars.
The Egypt Car Rental Market is projected to show a significant growth, to contribute ~ Bn by 2027F with increase in tourism, on-demand services and government initiatives. The growth rate of total fleet size is anticipated to increase over the period with surge in working class population along with government incentives and policies.
The KSA Car Rental and Leasing Market witnessed significant growth during the period 2017-2022, owing to growing tourism, vision 2030 and introduction of EVs. With the booming logistics sector and Last Mile Delivery, the last major milestone in the supply chain process, where the item is sent out from a local warehouse or fulfillment center for its final delivery to the customer, we expect a rise in demand for pick-up truck rentals.
Indonesia's car rental market is projected to witness a CAGR of ~% between 2022 to 2027F. Travel & Tourism Industry in Indonesia is a major contributor to the GDP and employment of that country. It has become a key focus area for the Indonesian Government's growth strategy. The number of international travellers arriving in Indonesia has been on a constant rise over the years. This is expected to support the growth of the car rental market as travellers prefer booking cars in advance for their trips for the sake of convenience.
Ken Research Private Limited
Ankur Gupta , Director Strategy and Growth
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