Press release
Japan Car Rental Market Outlook to 2027F: Ken Research
Japan Car Rental market is growing at a CAGR of ~% in 2017-2022P and is expected to reach ~USD Bn by 2027F.
The Japan Car Rental Market is largely driven by increased internet and smartphone penetration, rising population and increasing demand from tourists for business and leisure purposes hiring rental cars.
The growing demand for on-demand transportation services is driving the market growth. Increasing vehicle costs, shrinking parking lots, and high auto maintenance costs encourages people to use on-demand transportation services for trips and everyday commuting instead of having their own personal vehicle. As a result, the Car Rental Industry in Japan has grown due to consumers increased preference for on-demand transportation.
The nationwide growth of car rentals has been hampered by COVID-19's quick expansion. Domestic and international tourism saw a marked decline in 2020 due to travel restrictions and lockdowns, which impacted the car rental market. The nation-wide travel bans and quarantine regulations also had a negative impact on the Car Rental Industry in Japan. In comparison to 2019, the car rental business saw revenues drop by about ~% in 2020. The industry is, however, showing signs of a respectable recovery following the devastating COVID-19 pandemic outbreaks, as the market's revenue has increased by roughly ~% in 2022P compared to 2020.
Japan Car Rental Market By Market Structure
The Japan Car Rental market is segmented by Market Structure into Organized Market and Unorganized Market.
The Organized sector accounted for the highest market share in 2022P, most tourists look for legal documents and certifications of the vehicle to avoid security patrolling for safety measures.
Japan Car Rental Market By Type Of Vehicle
The Japan Car Rental Market is segmented by Type of Vehicle into Small Cars/ Hatchbacks, Sedans, SUVs and Others.
The Small Cars/Hatchbacks segment accounted for the highest market share in 2022P. Toyota Corolla, Ford Mustang and Toyota Prius are the most popular car models in the market.
Japan Car Rental Market By Ice/Ev
The Japan Car Rental market is segmented by ICE/EV into ICE (Internal Combustion Engine) and Electric Vehicle.
The ICE (Internal Combustion Engine) segment accounted for the highest market share in 2022P. However, it is seen that with time people are slowly moving towards Electric Vehicles as they produce far less smoke and pollution.
Japan Car Rental Market By Region
The Japan Car Rental market is segmented by Region into Central, South and North.
The Central region accounted for the highest market share in 2022P, as the main airports and tourist spots are located here.
Japan Car Rental Market By Mode Of Booking
The Japan Car Rental market is segmented by Mode of Booking into Offline and Online.
The Online mode of booking accounted for the highest market share in 2022P, as it is quicker and has more options as compared to the offline booking mode. Tourist from other countries can also easily book car online.
Japan Car Rental Market By Client
The Japan Car Rental market is segmented by Client into Business and Leisure.
The Leisure segment accounted for the highest market share in 2022P, as tourist make up most of the people who rent cars.
Japan Car Rental Market By Pick-Up
The Japan Car Rental market is segmented by Pick-Up into Off-Airport and On-Airport.
The Om-Airport segment accounted for the largest market share among all regions in 2022P, as people especially tourists want to be picked up from airport.
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Key Segments Covered
Japan Car Rental Market:
By Market Structure
Organized market
Unorganized market
By Type of Vehicles
Small Cars/ Hatchbacks
Sedans
SUVs
Others
By ICE/EV
ICE (Internal Combustion Engine)
Electric Vehicles
By Region
Central
South
North
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By Mode of Booking
Online
Offline
By Client
Business
Leisure
By Pick-up
Off- Airport
On-Airport
Key Target Audience
Car Rental Service Providers
Car Rental Companies aiming to establish in the Japan
Japan automotive industries
Government Bodies & Regulating Authorities
Venture Capitalist targeting the car rental market
Automotive industry association
Car Manufacturers
Existing Car Rental Companies
OEM Dealerships
New Market Entrants
Investors
Car Rental Associations
Time Period Captured in the Report:
Historical Period:Â 2017-2022P
Base Year:Â 2022P
Forecast Period:Â 2022P- 2027F
Companies Covered:
Toyota Rent-a-Car
Nippon Rent-a-Car
Orix Rent-a-Car
Times Car Rental
Nissan Rent-a-Car
Smile Rental Car
NicoNico Rent a Car
JR Rent-a-Car
Sky Rent-a-Car
Key Topics Covered in the Report
Executive Summary
Country Overview of the Japan
Overview and Genesis of Car Rental Market in Japan
Ecosystem of Japan Car Rental Market
Business Cycle of Japan Car Rental Market
Timeline of Major Players of Japan Car Rental Market
Value Chain Analysis of Japan Car Rental Market
Market Segmentations of Car Rental Market in Japan
Snapshots on different Car Rental Markets in Japan
SWOT Analysis of Japan Car Rental Market
Growth Drivers of Japan Car Rental Market
Government regulations of Japan Car Rental Market
Trends and Developments of Japan Car Rental Market
Challenges of Japan Car Rental Market
End User Analysis of Car Rental Market in Japan
Competitive Analysis of Car Rental Market in Japan
Future Outlook and Projections of Car Rental Market in Japan
Analyst Recommendations
Research Methodology
For more insights on the market intelligence, refer to the link below: -
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/japan-car-rental-market-outlook-to-2027/596215-100.html
Related Reports by Ken Research: -
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/netherlands-car-rental-market-outlook-to-2027/596185-100.html
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/italy-car-rental-market-research-report/441-100.html
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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.
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