India Self Drive Car Rental Market is Expected to reach around INR 2,600 Crore in terms of Gross Transaction Value (GTV) by 2023: Ken Research

Key Findings:
• The market is expected to increase in the future, thus growing at a positive CAGR of 14.6%, due to increased level of investments and strategic partnerships of the players with other service providers.
• Entry of new players including OLA Co. and other startups is further expected to stimulate growth in revenues of self drive car rental industry while simultaneously increasing the competition.
• Rising income will also play a significant role, as roughly 60.0 million households could enter the consuming class (defined as households with incomes greater than USD 8,000 per annum) by the year ending 2025.

Growth of Tourism Sector: Tourism industry in India is currently booming, while showcasing a lot of potential for the future. In accordance with Ministry of Tourism, Foreign Tourist Arrivals in India during April 2019 were evaluated at 771,353 as compared to 745,051 in April 2018 thereby, registering a growth of 3.5%. People are looking for comfort and privacy while travelling. Furthermore, one day or 2 days Corporate and Business trips to various cities across India have also become very common, which again leads to frequent movement of lot of individuals across various airports of India. This further leads to demand for self driven rental cars as people need the comfort of their own cars.
Shared Mobility: India is facing a major challenge in terms of the population growth and simultaneously in the total number of Motor vehicles bought and used. This is leading to a lot of environmental hazard and traffic jams. The millennial population has been currently focusing towards sustaining their future by saving money and not spending on cars and vehicles. The government of India is keen on making India a Zero Emission zone by 2030 and for that, Self Drive Car Rental segment will play a major role as it will help in reducing the number of private cars on the road, Hence there will be push from the government in terms of rules, guidelines and regulatory framework.

Development towards Electrification of Cars in the Metro cities of India: During 2019, EVs constitute less than 1.0% of the total vehicles sold in India. There are more than 400,000 units of electric 2 wheelers and only a few thousand electric cars on Indian roads. Approximately 95.0% of the total electric vehicles in India are low-speed electric scooters whose average speed is around 25 km per hr, which do not require registration and licenses. EV manufacturers have been eagerly waiting for the government to clear regulatory hurdles and further come up with infrastructure development for EVs in India. The introduction of a completely new EV market can help the overall self drive car rental market to grow significantly as it can be a new experience for the customers.

Analysts at Ken Research in their latest publication “India Self Drive Car Rental Market Outlook to 2024 - Rising Prominence of Shared Mobility Space with Growing Competencies of Self Drive Companies due to Growing Investments” believed that the Self Drive Car Rental industry in India will augment owing to the rising Tourist population arriving in India year after year, coupled with increase in personal disposable income and a proper establishment of government regulations and amendments of law in the coming years. This rise is expected to result in the increased availability of various pickup points along with the entry of new players across the nation. The market is expected to register positive double digit CAGR of 13.6% in terms of Gross Transaction Value and similarly the market will grow in terms of Fleet size, showcasing a positive CAGR of 14.6% during the forecast period FY’2019-FY’2024.

For information click on the below mentioned link:-
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/india-self-drive-car-rental-market-outlook/276728-100.html

Key Segments Covered:-
 GTV
• Organized Sector
 By Cities of India (Bangalore, Delhi Mumbai and Others)
• Unorganized Sector
 Number of Bookings
• By Booking Channel (Mobile, Online and Physical)
• By Booking Package (Hourly, Daily, Weekly and Monthly)
• By Usage (Intercity and Intracity)
• By Booking Period (Weekends and Weekdays)
 Fleet Size
• Organized Sector
 By Types of Cars (Hatchback, Sedan, SUV+MUV)
 By Segment of Cars (Standard and Luxury)
 By Status of Ownership (Owned and Leased)
• Unorganized Sector

Key Target Audience:-
• Startups and Private car Owners
• Offline Dealers
• Online Self Driving Car Rental Portals
• Organized Multi Brands Dealers
• OEM Certified Dealerships
• Corporate Clients
• Private Equity and Venture Capitalist Firms
• Industry Associations
• OEM Manufacturers
• Automotive Manufacturers
• EV Service Provides
• Hotel Chains
• Airport Authorities
• Car Auction Companies

Time Period Captured in the Report:-
• Historical Period – FY’2014-FY’2019
• Forecast Period - FY’2019-FY’2024

Major Companies Covered:-
• Zoomcar
• Drivezy
• Revv
• Myles
• Avis India
• MyChoize (ORIX)
• Eco Rent a Car
• Zip Cars
• Jiffy Cars
• Voler Cars

Key Topics Covered in the Report:-
• Market Overview and Genesis for India Self Drive Car Rental Market
• Share of Self Drive Car Rental Expenses in Total Domestic Road Trip Cost, FY’19
• Global Performance of Self Drive Companies (USA, China, Brazil, India), FY’2019
• Working Model for Indian Self Drive Car Rental Company
• India Self Drive Car Rental Market Size, FY’2014-FY’2019
 By Gross Transaction Value
 By Fleet size
• Market Segmentation of India Self Drive Car Rental Market
 By Market Structure: Organized and Unorganized
 By Cities of India: Bangalore, Delhi Mumbai and Others
 By Booking Channels: Mobile, Online and Physical
 By Booking Package: Hourly, Daily, Weekly, Monthly
 By Usage: Intercity and Intracity
 By Booking Period: Weekends or Weekdays
 By Types of Car: Hatchback, Sedan, SUV+MUV
 By Segments of Cars: Standard and Luxury
 By Ownership Status: Owned and Leased
• Consumer Profiles of the User Base on the basis of Age, Occupation and Gender
• Trends and Developments of Indian Self Drive Car Rental Market
• Issus and Challenges of Indian Self Drive Car Rental Market
• Government Regulations In India Self Drive Car Market
• Security Mechanism and Movement Tracking Devices In India Self Drive Car Rental Market
• SWOT Analysis Of The India Self Drive Car Rental Market
• Market Analysis Of India Self Drive Car Rental Market
• Competition Analysis Of Major Organized Players In India Self Drive Car Market
 Strength and Weakness of Major Companies
 Cross Comparison on the basis of Key Parameters
 Heat Maps
 Analysis of Cancellation Charges of the Major Players
• Company Profiles of Major Companies in India Self Drive Car Rental Market
• Future Outlook of India Self Drive Car Rental Market in India
• Analyst Recommendations

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