Romania Car Rental Market by Market Structure (Organized and Unorganized Sector), by Mode of Booking (Online and Offline), by Clients (Leisure and Business), by Pick-Ups (Airport and Off-Airport), by Car Type (Hatchback, Sedan and SUV) and by Major Regions – Outlook to 2022 provides a comprehensive analysis of the car rental market in Romania. The report covers various aspects such as overall market size of Romania car rental, cab aggregator, self driven car and car sharing in terms of transaction value, segmentation on the basis of market structure (organized and unorganized sector), by mode of booking (online and offline), by clients (leisure and business), by pick-ups (airport and off-airport), by car type (hatchback, sedan and SUV) and by major regions. The report also covers trends and developments, issues and challenges, regulatory scenario and SWOT analysis of Romania car rental market. The report covers snapshot and business models of cab aggregator market, self driven car, car sharing, car pooling/ride sharing and bike aggregator market in Romania. The report also covers the competitive landscape of the industry and comprehensive profile of leading players (Autonom Services SRL, Hertz Corp, The, Avis Budget Group Inc, Enterprise Holdings, Inc, Sixt AG, Europcar Groupe SA, Bavaria rent SRL) operating in the market.
The report concludes with future outlook and projections of Romania car rental market, major macroeconomic indicators and upcoming trends affecting the market have also been highlighted in the report. The report also serves competitive scenario for each market which exists in car rental industry to get an in-depth understanding of car rental sector in Romania.
Romania Car Rental Market
The car rental industry in the Romania has flourished in recent times owing to significant growth in tourism. Over ~ car rental companies existed in the market and over ~ taxis ran across the streets in the country, as of 2017. Cars were rented both for business and leisure purpose and for short and long term requirements. The poor transportation facilities in the country and low investment by the government for road and railway construction have shifted the interests of the customers towards rental cars. Rapid rise in Smartphone users coupled with inclining internet penetration resulted in high adoption of car rental services. Easy of booking, on-site pick-up, real-time location monitoring, lower tariffs and overall safety boosted consumer confidence in cab aggregator companies which soon became very popular amongst masses. The car rental industry in the country is highly concentrated with top three players accounting for ~% of the overall market share during 2017. During the period 2012-2017, Romania car rental market grew at a CAGR of ~% in terms of transaction value and ~% in terms of fleet size. The major growth drivers of Romania car rental market include strong penetration of internet, increased demand from domestic and foreign tourists and tie-ups with airline companies. The car rental market augmented from USD ~ million during 2012 to USD ~ million during 2017 at a CAGR of ~% during 2012-2017.
Romania Car Rental Market Segmentation
By Market Structure: In terms of transaction value, Romania car rental market is dominated by organized players which accounted for a share of ~% (USD ~ million) during 2017. The organized players in the Romania car rental market dominated in terms of fleet size and transaction value with the dominance of domestic and large foreign players in the industry. Major organized players in the car rental industry in Romania include Autonom Services SRL, Hertz Corp, The, Avis Budget Group Inc, and others. The unorganized market accounted for a share of ~% (USD ~ million) during 2017. Romania car rental market is highly concentrated as the top three players accounted for a share of ~% of the overall transaction value.
By Trips: In terms of transaction value, business clients dominated the Romania car rental market during 2017 which accounted for ~% (USD ~ million) of the transaction value during 2017. Business clients are usually frequent travelers hence, the car rental companies offer them relevant discounts. Also, the distance travelled by the business clients are comparatively lesser and limited within the city. The companies majorly tie-up with car rental companies or hire cars for long term to offer pick up and drop services to their employees. Car rental for leisure purpose accounted for almost same market share as business segment, ~% (USD ~ million) during 2017. Foreign tourists and Romanian residents who visit their country during the holidays majorly use car rental services for leisure purposes.
By Mode of Booking: Offline as a mode of booking dominated the car rental segment in Romania which accounted for a share of ~% (USD ~ million) during 2017. Most organized car rental companies offer online booking facilities to the public. People who booked cars by physically approaching a car rental company were either local people who are not aware of the online booking system, or the ones who have any additional query regarding the trip and are reluctant in using the technology. Online segment as mode of booking accounted for a share of ~% during 2017. Major factors that influenced online booking include increasing number of tourists, tour packages, ease and convenience of booking online and growth of cab aggregators.
By Car Type: Hatchbacks have dominated the car rental market with a share of ~% (USD ~ million) in terms of transaction value during 2017 due to economic price and likability of travelers. Sedan and SUV accounted for a share of ~% (USD ~ million) and ~% (USD ~ million) respectively, during 2017. The customers for the SUV segments represent big corporate, luxury hotels and the high income tourists.
Romania Cab Aggregator Market
Cab aggregators are asset-light-operators, which do not own cars on their own. Mobile application based cab aggregators started operating in the car rental industry in recent years and instantly gained traction of the customers. Uber is one of the largest players in Romania cab aggregator market. According to the representatives of Uber in Romania, about ~ persons use this platform, attracted by its services, mobility and the facility of card payments. Cab aggregator market has witnessed a rapid growth in the last few years owing to underdeveloped public transportation system, low taxi tariffs, rapidly increasing internet users and expanding urban middle class who prefer using cabs over other public transportation services. The cab aggregator market in Romania has augmented from USD ~ million during 2012 to USD ~ million during 2017 at a CAGR of ~% during the period. Cab aggregators such as Uber, Clever Taxi are highly prominent in the country.
Romania Ride Sharing Market
Ride sharing is a relatively new idea of shared mobility but the model is setting a foothold on the market with software development and portfolio diversification of the companies. The companies provide ride-sharing services for individual consumers and also for the B2B sector, in order to increase the adoption of electric rides, increase biking and walking behavior through the cities and consequently decrease pollution and parking demand. The phenomena of ride sharing have emerged as a popular means of transportation for regular commuters travelling in and around cities across various regions. The highest demand for ride sharing is driven from millennial population and the customers who regularly commute to same locations. The ride sharing market in Romania has augmented from USD ~ million during 2012 to USD ~ million during 2017 at a CAGR of ~% during 2012-2017.
Future Outlook of Romania Car Rental Market
The increasing number of foreign tourists and economic growth will attract more business executives which represent the major source of growth of car rental over the forecast period. It is anticipated that smaller operators in car rental market are expected to cover smaller cities and tourist destinations, which will pull prices down and lead to lower value growth than was registered during the review period. Public transport in Romania, such as buses and trains, will continue to be negatively affected by underdevelopment over the forecast period. Low investment over the years in railways and bus transportation is expected to have a positive impact on car rental market in the near future. Romania is expected to witness huge penetration of internet and Smartphone in the upcoming years which will drive the demand of online car rental in the near future. It is anticipated that offline as a mode of booking will continue to dominate the car rental market accounting for a share of ~% during 2022. The overall car rental market will grow from USD ~ million during 2018 to USD ~ million during 2022 at a CAGR of ~% during the forecasted period.
Key Topics Covered in the Report
Car rental in Romania
Value Chain Analysis Romania Car Rental Market
Romania car rental market size
Romania Cab Aggregators Revenue
Major Players in Romania Car Rental Market
Car Rental Companies in Romania
Competition in Romania Car Rental Market
Romania Self Driving Car Market Revenue
Non Chauffer Rental Car Market Romania
Romania Car Rental Market Future Growt
Autonom Services SRL Car Rentals Market Share
Avis Budget Group Inc Fleet Size
Hertz Corp, The Revenue from Car Rental
Enterprise Holdings, Inc competitors
Future of Romania Car Rental Market
Upcoming Trends in Car Rental Market Romania
Market share leading companies Romania Cab Aggregators
International domestic tourism Romania
Growth Romania Bike Rental Industry
Romania Cab Sharing Market
Ride Sharing Market Romania
Ankur Gupta, Head Marketing & Communications
ankur [@] kenresearch.com
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