Australia Car Leasing Fleets is Expected to Reach around 425K units by 2023: Ken Research

Total number of small and medium enterprises in Australia is expected to positively grow thus, registering a CAGR of close to 2.8% during the forecast period 2019-2023. The gross value added by the mining industry in Australia is expected to grow at a CAGR of 3.9%, stimulated by the expected continuation of the mining boom during the period. This would be facilitated by a proportionate rise in the corporate demand for car leasing service in the country by the end of 2023.
• The car rental market is also expected to increase due to the rise in number of tourist arrivals in the country with an anticipated CAGR of 4.3% till 2023. The Tourism 2020 plan initiated by the Australian Tourism Industry is estimated to get completed by the year ending 2020.
• Growth in the ride hailing segment of the market is expected to come through with the entry of new players offering ride sharing services and increasing number of millennial population in the country. The cab aggregator industry of Australia is also estimated to reach around a fleet size of 206,000 units and AUD 2,400.0 Million in terms of revenue by the year ending 2023.

Australia car leasing and rental market growth will be facilitated by the increasing number of small and medium establishments, growing size of mining, construction, & logistics sector, increasing employment, growing number of tourist arrivals in the country and a low exchange rate with the USD. The market is still dominated by the corporate user segment owing to their bulk demand including a variety of cars for employee mobility and further company use. In terms of rental purpose, the business segment is forecasted to grow at CAGR of 6.1% in terms of revenue during 2019-2023. The individual demand is mainly supported by the tourist arrivals with inbound tourists dominating the demand. Demand for rental is highest during the summer months and the Chinese New Year in Australia.
New car rental companies as well as cab aggregators might enter the market in the coming years. Opportunity may also arise for car sharing service providers, due to their growing popularity as a disruptor of the overall mobility industry. Companies will look to focus on differentiating themselves on the basis of value added services they could provide to their prospective clients, reducing the service cost, enhancing customer service and introducing newer models backed by technology into their fleet to capture a significant share in the independent markets.
In terms of regional demand, it is expected that the states of New South Wales, Victoria and Queensland will have high demand for car rental, leasing and ride hailing space owing to the high population in these states and the high concentration of small and medium enterprises in these states. Darwin, Adelaide and Hobart are cities where the penetration and reach of ride sharing, leasing and car rental is low and hence new players can target these cities for setting up operations in the near future.
Analysts at Ken Research within their latest publication “Australia Car Leasing and Rental Market Outlook to 2023 - By Type of Car, By Region, By End User, By Rental Booking Purpose, By Rental Booking Mode and Ride Hailing Market- By Type of Ride, By Hailing Purpose and By State” believe that the market is expected to register positive growth at CAGR of 1.6% in terms of operating leasing revenue; 1.8% in terms of fleet size in car rental segment, 3.3% in terms of rental revenue; and 10.6% in terms of fleet size in ride hailing segment and lastly, 11.5% in terms of ride hailing revenue during the forecasted period 2019-2023.

For more information on market research report, please refer to the link below:
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/australia-car-leasing-and-rental-market/276727-100.html

By Type of Car
• Ute
• Sedan
• SUV
• Luxury
By Region
• New South Wales
• Victoria
• Queensland
• Western Australia
• Other States (Tasmania and South Australia)
By End User
• Mining
• Construction and Engineering
• Government
• Telecommunications
• Others (Logistics and Utility Industry)
Australia Car Rental Market
By Type of Car
• SUV
• Ute and LCVs
• Sedans
By Rental Purpose
• Leisure
• Business
By Booking Mode
• Online
• Offline
Australia Ride Hailing Market
By Type of Ride
• Sedan / Economy / Mini
• SUV and Ute
• Luxury
By Hailing Purpose
• Airport
• Leisure
• Office
By State
• New South Wales
• Victoria
• Queensland
• Western Australia
• Other States (Tasmania and South Australia)
Time Period Captured in the Report:
• Historical Period: 2013-2018
• Forecast Period: 2019-2023
Key Target Audience
• Car Rental Companies
• Fleet Management Organizations
• Cab Aggregators or Ride Sharing Companies
• Car Sharing Companies
• Car Dealers
• Consumer Finance Organizations
• Automobile and Mobility Organizations.
• End User Industries
Companies Covered:
• Car Leasing Companies
 LeasePlan Australia
 Eclipx Group
 SG Fleet
 Custom Fleet
 Toyota Fleet Management
 ORIX
 Summit Fleet
• Car Rental Companies
 Avis Australia
 Hertz Australia
 Budget Australia
 Thrifty Australia
 Europcar Australia
• Cab Aggregators
 Uber
 Ola
 DiDi
 GoCatch
 Taxify (Bolt)
Key Topics Covered in the Report
• Operating Model Analysis
• Australia Car Leasing Market Overview and Genesis.
• Australia Car Leasing Market Size
• Australia Car Leasing Market Segmentation
• Competitive Scenario in Australia Car Leasing Market
• Company Profiles of Major Players in Australia Car Leasing Market
• Australia Car Leasing Market Future Outlook and Projections, 2018-2023E
• Australia Car Rental Market Overview and Genesis.
• Australia Car Rental Market Size
• Australia Car Rental Market Segmentation
• Competitive Scenario in Australia Car Rental Market
• Company Profiles of Major Players in Australia Car Rental Market
• Australia Car Rental Market Future Outlook and Projections, 2018-2023E
• Australia Ride Hailing Market Overview and Genesis.
• Australia Ride Hailing Market Size
• Australia Ride Hailing Market Segmentation
• Competitive Scenario in Australia Ride Hailing Market
• Company Profiles of Major Players in Australia Ride Hailing Market
• Australia Ride Hailing Market Future Outlook and Projections, 2018-2023E
• SWOT Analysis of Australia Car Leasing and Rental Market
• Trends and Development in Australia Car Leasing and Rental Market
• Issues and Challenges in Australia Car Leasing and Rental Market
• Regulatory Landscape of Australia Car Leasing and Rental Market
• Analyst Recommendation in Australia Car Leasing and Rental Market

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