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Car Rentals in China Industry Data and Analysis
The Car Rental industry in China has developed rapidly over the past five years, with total revenue expected to grow at an annualized 6.0% over the five years through 2024, to total $18.3 billion. This trend includes expected growth of 10.0% in the current year. The industry profitability is expected to be at 5.5% in 2024. Steady industry 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.China has a gap between the number of licensed drivers and car owners. As of June 2024, the number of private automobiles in use had reached 345 million units and the number of licensed drivers had increased to 496 million persons. The widening disparity between the numbers of car owners and licensed drivers is expected to stimulate demand for car rentals in China.The car rental market in China is competitive and highly fragmented. A large portion of firms are small or medium scale with small car fleets scattered across the country. Major enterprises in the industry have much larger car fleets and broader ranges of business, which contribute to their competitive strength. The consolidation of the industry is expected to intensify over the next five years, as competition intensifies.With growing people's disposable income level and enhanced car rental services, the industry is projected to have continued steady growth. Overall, industry revenue is forecast to grow at an annualized 5.5% over the five years through 2029, to total $23.9 billion.As the younger generation becomes the main consumption group, the demand for personalized and customized car rental services will increase. In order to win more customers, industry enterprises will provide customized car rental services to create differentiated advantages and expand market shares.
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What's included in this industry analysis
IBISWorld's research coverage on the Car Rentals industry in China includes market sizing, forecasting, data and analysis from 2014-2029. The most recent publication was released November 2024.
About this industry
What's this industry report about?
The Car Rentals industry in China operates under the industry code 7311. 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. Related terms covered in the Car Rentals industry in China include residual value, replacement rental and car fleet .
What's included in this industry?
Products and services covered in Car Rentals industry in China include Long-term car rental, Short-term car rental and Timeshare car rental.
What companies are included in this industry?
Companies covered in the Car Rentals industry in China include CAR Inc., Jiao Yin Brother (Beijing) Information Technology Co., Ltd. and Shouqi Car Rental Co., Ltd.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Car Rentals industry in China.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Car Rentals industry in China.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Car Rentals industry in China.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Car Rentals industry in China. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Car Rentals industry in China. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Car Rentals industry in China. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Car Rentals industry in China. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Car Rentals industry in China.
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Frequently Asked Questions
What is the market size of the Car Rentals industry in China in 2026?
The market size of the Car Rentals industry in China is $18.3bn in 2026.
How many businesses are there in the Car Rentals industry in China in 2024?
There are 19,730 businesses in the Car Rentals industry in China, which has grown at a CAGR of 1.6 % between 2019 and 2024.
How may import tariffs affect the Car Rentals industry in China?
The Car Rentals industry in China is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Car Rentals industry in China?
The Car Rentals industry in China is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Car Rentals industry in China grown or declined over the past 5 years?
The market size of the Car Rentals industry in China has been growing at a CAGR of 6.0 % between 2019 and 2024.
What is the forecast growth of the Car Rentals industry in China over the next 5 years?
Over the next five years, the Car Rentals industry in China is expected to grow.
What are the biggest companies in the Car Rentals industry in China?
The biggest companies operating in the Car Rentals industry in China are CAR Inc., Jiao Yin Brother (Beijing) Information Technology Co., Ltd. and Shouqi Car Rental Co., Ltd.
What does the Car Rentals industry in China include?
Long-term car rental and Short-term car rental are part of the Car Rentals industry in China.
Which companies have the highest market share in the Car Rentals industry in China?
The company holding the most market share in the Car Rentals industry in China is CAR Inc..
How competitive is the Car Rentals industry in China?
The level of competition is high and increasing in the Car Rentals industry in China.
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