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Russia Car Rental Market Future Outlook: Ken Research

07-12-2022 05:28 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Ken Research

The report titled "Russia Car Rental Market by Type (App Based Taxi Aggregator, Self-Drive Rental Car, Chauffer Driven Rental and Taxi Services), and by Off-Airport On-Airport Outlook To 2022" provides a comprehensive analysis of car rental market introduction and genesis, market size by revenue and by fleet, chauffer driven car rental market, App based cab aggregator market, self-drive car rental market.

The report also provides data points on Russia Car Rental market by type (Chauffer driven car rental and taxi service, app based cab aggregator and self-driven car rental), by region (Moscow Region, St. Petersburg Region, Cities with Population more than 1 million, Cities with Population Between 0.5-1 Million and Others), by on airport and off airport, App based taxi aggregator by type of car (budget, comfort and executive), Self-drive car rental by type of booking (online and offline), by type of demand (business, leisure and insurance replacement) along with company profile of major players in Chauffer driven car rental (Lingotaxi, Logitaxi, Kiwitaxi, Maxim, Vezyot, Citymobil), Self-drive car rental company (Hertz, Avis, Europcar, Sixt, EleksPolys, Delimobil, Belka car and Other), App Based Cab aggregator (Yandex, Gett, Altocar, Indrive, and Wheely). The report also covers SWOT analysis, Rules and regulation, snapshot on Karshering and Illegal taxi (Gypsy cabs) along with analyst recommendation and macroeconomic variables.

The report is useful for car manufacturing companies, taxi companies, potential entrants and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.

Russia Car Rental Market Size and Overview
Market Size: Taxi business in Russia is moving towards the organized sector with increasing participation of drivers opting for registered taxis and permits. Post 2014, using a taxi in Moscow has become ~% cheaper and the estimated average waiting time is reduced to ~ minutes in 2017. The car rental market size has increased from USD ~billion in 2012 to USD ~ billion in 2017. Growth was highest in 2016 when the three major companies Yandex Uber and Gett were competing with each other to gain more market share. The estimated number of taxis during the same period increased from ~ thousand to ~ thousand. Growth in App based market was highest.

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Market Segmentation: Car rental in Moscow generated estimated revenue of USD ~ million in 2017. St.Petersburg was second largest market with more than ~ taxis generating revenue of USD ~ million. Cities with more than a million-population generated USD ~ million in 2017. Medium sized cities with population between ~ million generated USD ~ million and had more than ~ thousand legal taxis plying on the road. Cities with less than ~ million people had very little demand for taxis generating estimated revenue of ~ million with approximately ~ thousand registered commercial cars. On-airport demand for taxis was among the largest business segment generating estimated revenue of USD ~ million through ~ million taxi bookings.

Russia Chauffer Driven Car Rental and Taxi Services Market
Market Size: The market size increased from USD ~ billion in 2012 to USD ~ billion 2017 registering a five-year CAGR of ~%. Growth was mainly on account of legalization of taxi business in Moscow and other major cities. Citymobil and Vezyot were leading dispatcher taxi service providers in the country. Airport transports contributed the major part of high value taxis transports. Corporate booking for transporting company officials contributed the majority of long-term chauffer driven rental.

Market Segmentation: Tour operator services generally cater the domestic and international tourists. Large Corporation especially those associated with manufacturing, surveying and project-based work engage the services of transport companies to provide long term rental. Dispatcher taxi companies mainly serve the purpose of connecting cars of many taxi services with the customer. Vezyot, which is Russia's largest taxi firm, carried out ~ million rides across 120 cities in October 2017. Ride sharing market in Russia is on rise.

For More Information, Click on the Following Link: -
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/russia-car-rental-market/142799-100.html

Future Outlook: It is expected that market for chauffer driven car rental and dispatcher taxi service will decline from USD ~ billion in 2018 to USD ~ billion in 2022. Long term and short term rental car market will largely be able to retain their market. However it is expected that majority of the transactions will move online. Majority of the dispatcher service business will be converted into app-based cab booking service. Demand for domestic tourism is on rise in Russia and it is expected to maintain the momentum in future as well. Fifa world cup 2018 is expected to boost both domestic and international tourist movement in 2018.

Russia App Based Taxi Aggregator Market
Cab aggregators provide the technology platform for the users to book cabs via app and charge the drivers/ car owners a commission fee (~%) of the ride amount on every ride taken through their application. The market size for app based taxi aggregator increased by more than 1,100 times from USD ~ million in 2012 to USD ~ million 2017 and registered a five year CAGR of ~%. Yandex Taxi (Combined Entity with Uber), Gett were major players in this market.

Economy cars allow upto 4 passengers make it ideal for both individuals as well as families its low cost of travel and much better facilities make it command a staggering ~% market share by revenue. Comfort class was second most popular segment followed by executive. Yandex was the largest player in Russia online cab aggregator market. In 2017, it commanded an estimated market share of ~% in Russia cab aggregator business. Gett share was estimated at ~% of the total market on the basis of gross value for booking cabs through app. Other car companies contributed ~% of the revenue which mainly included Wheely, Indrive, and Altocar.

The app-based cab aggregator market is expected to grow from USD ~million in 2018 to USD ~ million in 2022 registering a five-year CAGR of ~%.

Russia Self Drive Car Rental Market
An estimated ~ are available for rent in self-drive car rental format. The number of cars declined from ~ in 2012 to ~in 2017. Stiff competition, price war and improving substitute services were the main reason for decline.

Revenue from online booking in self-drive car rental market has increased from USD ~ million in 2012 to USD ~ million in 2017). Decline in share of offline booking was mainly on account of increased penetration of internet, ease of payment through online mode and exciting offers which can be availed by online booking. Demand from business segment was highest and accounted for ~% of the business it was followed by leisure and insurance replacement.

Hertz was the largest self-drive international car rental company in Russia in 2016. Other major car rental companies include delimobile, Naprokat, Easyride, Belka, Sixt, Europcar, EleksPolyus and others.

The market for self-drive car is expected to remain near constant with revenue generation increasing from USD ~ million in 2018 to USD ~ million in 2022. Revenue generation may increase drastically if karshering becomes a popular trend in Russia which offers car on per minute rental.
Future Outlook to Russia Car Rental Market.

Market for car rental in Russia is expected to grow from USD ~ billion in 2018 to USD ~ billion in 2022 registering a five-year CAGR of ~%. Technology is expected to have very deep impact on the car rental market and it is expected that car rental services will undergo a major overhaul in next few years. Share of illegal taxis will decline to minimum, regulations governing the taxi market will become clearer and the market will become more user friendly due to improvement in technology and connectivity. Online and app-based car rental will gain significant market whether it is in cab aggregator business or in self-drive car rental market. Development and use of driverless cars are another concept on which work is in progress with significant developments.

Key Topics Covered in the Report
• Russia car rental market introduction
• Russia car rental market size
• Russia car rental market segmentation by region
• Russia car rental market segmentation by on-airport and off-airport.
• Russia chauffer driven car rental market size by revenue.
• Russia chauffer driven car rental market segmentation by type (Tour Operator, Log term company leasing, dispatcher service and Ride sharing services).
• Russia chauffer driven car rental market future outlook.
• Russia App based Taxi Aggregator Market Size
• Russia App based Taxi Aggregator market segmentation by type (Economy, comfort and executive) of car booking.
• Market share of major player (Yandex, Gett and others) in Russia App based Taxi Aggregator market
• Russia self-drive car rental Market Size
• Russia self-drive car rental market segmentation by type of booking (online and offline) and type of demand (Business, Leisure, and insurance replacement).
• Market share of major player (Hertz, Europcar, Avis, Sixt, Elekspolyus and other) in Russia self-drive car rental market.
• Rules and regulations in Russia car rental market
• Growth drivers in Russia car rental market
• SWOT analysis
• Snapshot on Illegal taxi market
• Future Outlook to Russia Car rental Market
• Analyst Recommendation
• Macro economic factors affecting Russia car rental Market

Related Report: -
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/indonesia-car-rental-market/136319-100.html

Contact Us: -
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249

Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a research based management consulting company. We provide strategic consultancy to aid clients on critical business perspective: strategy, marketing, organization, operations and technology transformation, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies.

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