Press release
Vietnam Car Rental Market Share, Revenue, Demand, Business Challenges, Investment Opportunities, and Forecast Research Report 2022-2032: SPER Market Research
Prior to last year, there were many different rental periods, days, average rental lengths, and other factors contributing to the diversity of the Vietnamese automobile rental industry. More specifically, the market would offer a range of rental options based on distance, including daily, overnight, and vacation rentals (kilometres). Self-driving services help make the most of idle vehicles, connect car owners and customers with straightforward and adaptable procedures, and boost demand in Vietnam's automobile rental industry. Also, companies and applications that connect car owners and clients have simplified the procedures, boosting the services.
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Vietnam Car Rental Market Overview:
Forecast CAGR (2022-2032): 14.04%
Forecast Market Size (2032): 1.96 billion
Impact of COVID-19 on the Vietnam Car Rental Market:
The COVID-19 pandemic has significantly changed how people travel. People are starting to place more value on personal mobility than ever before as social isolation becomes the new norm. Also, car rental companies see this as an opportunity to grow. Renting a car turned out to be a more practical alternative to ride-hailing and a quicker, more affordable way to access a car, offering a safe replacement for personal transportation. The car rental industry in Vietnam is anticipated to expand in the upcoming years as a result of behavioral changes brought on by the pandemic-driven transformation.
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Vietnam Car Rental Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
By Market Type:
Organized
Unorganized Players
By Car Type:
Luxury
Medium
Small
By Booking Type:
Offline
Online
By Rental Duration:
Long- Term
Short- Term
By Application Type:
Tourism
Commuting
By Region:
Ho Chi Minh
Hanoi
Da Nang
Hue
This report also provides the data for key regional segments of Ho Chi Minh, Hanoi, Da Nang, Hue, Others. In terms of revenue, Ho Chi Minh topped the Vietnamese market for renting cars. Due to its many domestic and foreign tourist attractions, such as the Temple of Literature and Hoan Kiem Lake, Hanoi added the second highest revenue share to the country of Vietnam's automobile rental industry.
Vietnam Car Rental Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Avis, Budget, Grab, GREEN WORLD Car Rental, Hanoi Journey, Hoi An Private Car., Uber, Vietnamdrive, Vina Rent A Car, Vinasun, Mai Linh, VN Rent A Car Co. Ltd.
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SPER Market Research
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