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The report titled “Turkey 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 Turkey. The report covers various aspects such as overall market size of Turkey 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 Turkey 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 Turkey. The report also covers the competitive landscape of the industry and comprehensive profile of leading players (Avis Budget Group Inc, Europcar Groupe SA, Hertz Corp, The, D'Ieteren SA) operating in the market.
The report concludes with future outlook and projections of Turkey 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 Turkey.
Turkey Car Rental Market
Earlier the travelling needs of the tourists as well as the domestic population were met by the public transport facilities such as buses, trains, airlines and other public modes. Increasing number of tourists and rising traffic congestion in the major cities of the country have raised a demand for an alternative transport option. This was witnessed as an excellent business opportunity and the small scale players in Turkey introduced car rental market in the country. The car rental industry has witnessed dominance of foreign players in the market, accounting for major chunk of the overall market share. The emerging platform-based internet car rental models have been gaining prominence in the market, affecting the unorganized players in the market. The car rental industry in the country is highly fragmented with small and medium scaled players accounting for ~% of the overall market share during 2017. During the period 2012-2017, Turkey car rental market grew at a CAGR of ~% in terms of transaction value and ~% in terms of fleet size. The major growth drivers of car rental market in Turkey include growing internet penetration, increasing mobile purchases and ongoing investments by the companies to improve their services. The car rental market augmented from USD ~ million during 2012 to USD ~ million during 2017 at a CAGR of ~% during 2012-2017. Along with the car rental market, Turkey has witnessed growth of ride sharing and bike rental markets, aiding the overall market growth.
Turkey Car Rental Market Segmentation
By Market Structure: In terms of revenues, Turkey car rental market is dominated by organized players which accounted for a share of ~% (USD ~ million) during 2017. The organized players in the Turkey car rental market dominated in terms of fleet size and transaction value with the dominance of large foreign players in the industry, giving cut throat competition to the unorganized market. Major organized players in the car rental industry in Turkey include Avis Budget Group Inc, Europcar Groupe SA, Hertz Corp, The, and others. The unorganized market accounted for a share of ~% (USD ~ million) during 2017. Turkey car rental market is highly fragmented with availability of many small scale players in the unorganized segment facing intense competition from app-based businesses.
By Trips: In terms of transaction value, business clients dominated the Turkey car rental market during 2017 which accounted for ~% (USD ~ million) of the transaction value during 2017. The increasing number of business travelers of corporate clients has boosted the demand for car rental services from business segment during 2012-2017. Car rental companies have been tying up with companies to attract more corporate clients and earn higher revenues. Car rental for leisure purpose accounted for almost same market share as business segment, ~% (USD ~ million) during 2017. The demand of rental cars for leisure purpose is majorly driven by tourists’ arrivals from both domestic and foreign countries.
By Mode of Booking: Offline as a mode of booking dominated the car rental segment in Turkey which accounted for a share of ~% (USD ~ million) during 2017. Offline booking includes booking through phone calls, SMS and by directly approaching a car rental company (face to face). Online segment as mode of booking accounted for a share of ~% during 2017. Online, as a mode of booking car has grown at a double digit growth rate during 2012-2017 increasing from USD ~ million during 2012 to USD ~ million during 2017. The organized players in the industry have majorly driven the online booking segment in the country.
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.
Turkey Cab Aggregator Market
Cab aggregator companies in Turkey are known for using technology to provide low cost and efficient cab services through the internet and mobile app model. During 2018-2022, cab aggregators are expected to increase their investments for the latest IT solutions such as hardware, software and other services to minimize the cost of operation and increase their profit margin. In a bid to improve customer experience, most cab operators are purchasing the latest location-based search enabling technologies to provide better user experience and make it easier for the drivers. The cab aggregator market in Turkey has augmented from USD ~ million during 2012 to USD ~ million during 2017 at a CAGR of ~% during the period. The cab aggregator market in the country flourished on the back of booking convenience through mobile applications, air conditioning, educated and skilled drivers and operators, multiple payment options, 24×7 customer support and others.
Turkey Car Sharing Market
In developing countries such as Turkey, car sharing is a recent phenomenon which has taken root within the last three to five years. There are few car-sharing operators in Turkey and the companies are showcasing more interest in these markets. The car sharing platforms are increasingly gaining prominence in Turkey with brands such as Yoyo and Zipcar continue to gain popularity among the millennial population. It is anticipated that the demand of car sharing in the country will increase with the increase in mobile penetration, availability of car sharing services on the internet and growing options of cars and convenience in the car sharing market. The car sharing market in Turkey has augmented from USD ~ million during 2012 to USD ~ million during 2017 at a CAGR of ~% during 2012-2017. Major reasons augmenting the growth in car sharing market are its cost saving aspect for the renter, convenience of location and use and a guaranteed parking.
Future Outlook of Turkey Car Rental Market
It is expected that the car rental market in Turkey will continue to grow on the back of support from government to improve infrastructure facilities, rising middle-class population with its high level of disposable incomes and increasing volumes of tourism and business activities in the country. 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. Increasing consumer spendings, expansion of travel and tourism industry and increasing demand from working age population will majorly account for the growth of Turkey car rental market in upcoming years. 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 percentage share of offline booking will decline and online bookings will capture huge chunk of the overall market. The car sharing and ride sharing market are still in the growing phase and with increasing market penetration, the overall car rental market will grow positively in upcoming years.
Key Topics Covered in the Report
Car rental in Turkey
Value Chain Analysis Turkey Car Rental Market
Turkey car rental market size
Turkey Cab Aggregators Revenue
Major Players in Turkey Car Rental Market
Car Rental Companies in Turkey
Competition in Turkey Car Rental Market
Turkey Self Driving Car Market Revenue
Non Chauffer Rental Car Market Turkey
Turkey Car Rental Market Future Growth
Hertz Corp, The Car Rentals Market Share
Europcar Groupe SA Inc Fleet Size
D'Ieteren SA Revenue from Car Rental
Avis Budget Group Inc competitors
Future of Turkey Car Rental Market
Upcoming Trends in Car Rental Market Turkey
Market share leading companies Turkey Cab Aggregators
Growth Turkey Bike Rental Industry
Turkey Cab Sharing Market
Self Drive Car Rental Market Turkey
Car Pool Market Turkey
Ride Sharing Market Turkey
Turkey Car Rental Government Regulations
Bike Rental Market Outlook Turkey
1. Executive Summary
2. Research Methodology
3. Turkey Car Rental Market Overview
4. Turkey Car Rental Market Size
4.1. By Transaction Values and Fleet Size, 2012-2017
5. Turkey Car Rental Market Segmentation
5.1. By Market Structure (Organized and Unorganized Sector) by Transaction Value, 2017
5.2. By Mode of Booking (Online and Offline) by Transaction Value, 2017
5.3. By Clients (Leisure and Business) by Transaction Value, 2017
5.4. By Major Regions, 2017
5.5. By Pick-Ups (Airport and Off-Airport) by Transaction Value, 2017
5.6. By Car Type (Hatchback, Sedan and SUV) by Transaction Value, 2017
6. Snapshot on Turkey Cab Aggregator Market
7. Snapshot on Turkey Self Driven Car Market
8. Snapshot on Turkey Car Sharing Market
9. Snapshot on Turkey Car Pooling/Ride Sharing Market
10. Snapshot on Turkey Bike Aggregator Market
11. SWOT Analysis of Turkey Car Rental Market
12. Trends and Developments in Turkey Car Rental Market
13. Government Regulations in Turkey Car Rental Market
14. Competition Scenario in Turkey Car Rental Market
15. Market Share of Major Players in Turkey Car Rental Market
16. Matrix for Cross Comparison of Major Players in Turkey Car Rental Market (Fleet Size, Average Rental Duration, Average Transactions per Car, Average Ticket Size, Number of Trips per Day, Major Operational Areas, Transactions)*
17. Competitive Landscape of Major Players in Turkey Car Rental Market
17.1. Avis Budget Group Inc
17.2. Europcar Groupe SA
17.3. Hertz Corp,
17.4. D'Ieteren SA
17.5. Intercity Rent a Car
18. Turkey Car Rental Market Future Outlook and Upcoming Trends
18.1. By Transaction Value and Fleet Size, 2018-2022
18.2. By Mode of Booking (Online and Offline) by Transaction Value, 2022
19. Analyst Recommendations
20. Macroeconomic Factors Impacting Turkey Car Rental Market
20.1. Internet and Smartphone Users in Turkey, 2012-2022
20.2. International Inbound Arrivals and Domestic Tourists, 2012-2022
20.3. Working Population in Turkey, 2012-2022
Car Rental Market Definition: Car rental covers the short-term rental of passenger vehicles for self-drive including small vans by both business and leisure users, whether from the airport or downtown locations. Small vans up to one tone are included. For longer than average rental periods, for instance rental of one month, provided the rental is sourced from the short-term rental fleet, this transaction is included. Car rental value covers the price of car hire to the consumer. Ancillary Transaction Values are included, such as the hire of baby car seats, GPS navigation systems, optional roadside assistance services and collision and damage waivers. Volume is provided by the number of car hire transactions, fleet size and number of car rental operators. In underdeveloped markets, car rental companies offer chauffeur-driven cars. Most people prefer these options, due to unfamiliarity with the roads. Ken Research includes chauffeur-driven cars in car rental, when they concern car rental companies such as Hertz or Avis, which offer a chauffeur-driven service as an additional option. Car rental covers sales to inbound tourists and domestic tourists. Sales are recorded in the country of destination. For instance, if a US citizen books a car rental service in France via the US offices of Hertz, the sales are attributed to Hertz France. The same applies for online sales. Car rental excludes long-term leasing, commercial vehicles, trucks and motorbikes and local car sharing schemes.
*Some of the qualitative or quantitative information provided would highly depend upon the computerized assisted telephonic conversations (CATIs) with industry experts. On the basis of the discussion, the section could be edited or deleted as per the information availability. All limitations and approach used will be clearly mentioned in the report.
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Avis Budget Group Inc, Europcar Groupe SA, Hertz Corp, D'Ieteren SA, Intercity Rent a Car
On-Airport, Off-Airport, Self Drive, Chauffer Driven Car Rental, Cab Aggregator, Long Distance Car Rental, Car Leasing, Car Pooling, Ride Sharing Apps, Bike Rental, Short Term Car Rental, Organized Car Rental Market, Small Car rental,Leisure Car Rental, Online Car Rental, Off-line Car Rental
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