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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

Region:Asia

Author(s):Akshit Goel

Product Code:KR913

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Published On

November 2019

Total pages

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About the Report

The report titled "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" covers market overview and size in terms of leasing fleet size, leasing revenue generated, rental fleet size, rental revenue generated, ride hailing fleet size, ride hailing revenue generated; along with leasing market segmentation by type of car (Ute, Sedan, SUV & Luxury), by region (New South Wales, Victoria, Queensland, Western Australia and others), by end user (mining, construction & engineering, government, telecommunications and others); rental market segmentation by type of car (SUV, sedan and Ute), by rental purpose (leisure and business), by booking mode (online and offline); ride hailing market segmentation by type of ride (sedan / economy, SUV & Ute and luxury), by hailing purpose (airport, leisure and office) and by state (New South Wales, Victoria, Queensland, Western Australia & others). The report also covers emerging growth drivers and trends; issues and challenges; SWOT analysis; government regulations and competitive landscape of major car leasing companies with special focus on LeasePlan Australia, SG Fleet and Eclipx Group; car rental companies including Avis Australia, Hertz Australia, Thrifty Australia, Budget Australia, Europcar Australia; and cab aggregators such as Uber, Ola and others. The report also explores the operating models prevalent in the industry, future outlook and projections along with analyst recommendations highlighting the major opportunities and cautions to the reader.

Australia Car Leasing Market Overview and Size:

Australia Car Leasing industry was witnessed to be at the late growth stage, with unstable growth year-on-year. Low growth in new vehicle sales and the mining industry bust during the period were primarily responsible for translating low growth in the car lease industry. The industry witnessed growth at a CAGR of around 3.5% in terms of fleet size from leasing segment and 2.7% in terms of revenue from leasing segment during the period 2013-2018. The leasing market is solely built on operating lease and financial lease has not been taken into consideration.

Australia Car Leasing Market Segmentation

By Type of Car (Ute, Sedan, SUV and Luxury): The Ute was the most popular leased vehicle in Australia, owing to its tool of trade classification and the benefits for owners when it comes to the Fringe Benefits tax payments. Sedans and SUVs formed the other major categories with the government and telecommunications industry forming their major end users.

By Region (New South Wales, Victoria, Queensland, Western Australia and Other States): New South Wales, Victoria and Queensland were the states with the highest density of car leases, courtesy their large population and the elaborate presence of business hubs in Sydney, Melbourne and Brisbane regions.

By End User (Mining, Construction and Engineering, Telecommunications, Government and Others): The mining industry drew a major chunk of the demand for car leases, owing to high fleet requirement for raw material transportation. The government also sourced their car leases through fleet management organizations.

Competitive Landscape in Australia Car Leasing Market: Competition stage in the country’s car leasing market was witnessed to be concentrated on the basis of fleet size with fleet management organizations dominating supply side of the industry. Companies compete on the basis of pricing, fleet size, brand value, customer service, service portfolio and value added services. Some of the major players operating within this segment include LeasePlan, Eclipx Group, SG Fleet, Toyota Fleet Management, Custom Fleet, Summit Fleet, ORIX and others.

Australia Car Rental Market Overview and Size: Australia car rental market was witnessed to be in a growing phase, with stable growth year-on-year. Growth in inbound tourists, weakening of the Australian Dollar and high usage by enterprise end users were some of the major factors stimulating growth in car rental transactions in Australia during the outlook period of 5 years from 2013 to 2018. The industry witnessed growth at a CAGR of around 0.8% in terms of fleet size of rental segment and 2.8% in terms of revenue from rental during the period 2013-2018.

Australia Car Rental Market Segmentation

By Type of Car (SUV, Sedan and Ute): SUVs dominated the car rental space within Australia owing to high passenger capacity and the pre-dominance of family as well as corporate trips in the country. On the other hand, sedans are basically preferred by in-bound tourists as they are not used to the left-hand drive cars in Australia.

By Rental Purpose (Leisure and Business): Leisure use dominated in Australia as when it comes to revenue generated, cars rented by tourists are rented for more days than cars rented by enterprise customers for corporate use.

By Booking Mode: Online booking segment dominated industry as users preferred to compare rates, check service offerings online and experience better convenience.

Competitive Landscape in Australia Car Rental Market: Competition within the country’s car rental market was seen to be concentrated on the basis of fleet size and presence with the 5 national operators accounting for majority of the share in the market. Companies compete on the basis of geographical presence, rental pricing, fleet size, customer service, rental flexibility, convenience and value added services. The major players in the rental segment include Avis, Hertz, Budget, Thrifty and Europcar among other second tier and independent players.

Australia Ride Hailing Market Overview and Size: The market was found out to be operating in its growth phase, with consistent growth year-on-year. The market was established recently in the year 2012, when cab aggregators entered the market to give competition to the local taxi industry. The stable structure of the regulatory framework regarding ride sharing allowed the entry of new players in the market during the period, which stimulated high growth in the market in terms of rides and fleet size of cabs operated. The industry witnessed growth at a CAGR of around 20.1% in terms of fleet size of cab aggregators and 14% in terms of revenue accruing to cab aggregating companies during the period 2013-2018.

Australia Ride Hailing Market Segmentation

By Type of Ride (Sedan / Economy / Mini, SUV and Ute and Luxury): Sedan or Economy based cab rides dominated the cabs hailed in Australia primarily due to the high popularity of short distance trips to and from the office and for leisure. SUVs and larger vehicles were used for Airport trips primarily.

By Hailing Purpose (Leisure Rides, Office Rides and Airport Rides): Cabs taken to and from airport dominated the industry earned revenue due to high distance of airports from the city and high amount of inbound and outbound tourists in the country.

By State (New South Wales, Victoria, Queensland, Western Australia and Others): Highly populated states and business hubs of Australia dominated the demand and spread of ride sharing in Australia. Sydney, Melbourne and Brisbane are the three major cities for ride sharing in Australia.

Competitive Landscape in Australia Ride Hailing Market: Ride sharing industry has displaced the taxi industry in Australia due to better convenience, better prices, premium options, better technology and higher availability. Major cab aggregators in Australia include Uber, Ola, DiDi, GoCatch and Taxify. These players primarily compete on the basis of fares, availability, cab fleet, driver behavior and driver commissions charged.

Australia Car Leasing and Rental Market Future Outlook & Projections: Expected slowdown of new vehicle sales, closedown of automotive manufacturing within Australia, rise of novated leasing as a vehicle financing option, emergence of car sharing, rise in inbound tourists and new entrants in the ride hailing market are expected to impact the car rental and leasing industry in Australia in the future. The car leasing segment is forecasted to decline, while the rental segment is expected to pick up pace in terms of revenue in the future. There is also great scope of growth in the ride sharing segment of the market in Australia.

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

Products

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

Time Period Captured in the Report:

Historical Period: 2013-2018
Forecast Period: 2019-2023

Companies

Key Segments Covered in Australia Car Rental and Leasing Market

Australia Car Leasing Market

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)

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)

1. Executive Summary

2. Research Methodology

2.1. Market Definitions

2.2. Abbreviations

2.3. Market Sizing and Modeling

Consolidated Research Approach

Sample Size Inclusion Table

Market Sizing Approach – Australia Car Leasing Market

Market Sizing Approach – Australia Car Rental Market

Market Sizing Approach – Australia Ride Hailing Market

Variables (Dependent and Independent)

Multi Factor Based Sensitivity Model

Regression Matrix

Limitations

Final Conclusion

3. Operating Model Analysis (Working Models for Car Leasing Industry, Car Rental Industry and

Cab Aggregators within Australia; Problems and Issues Including Absence of Car Manufacturing,

Lack of Dealers Directly Providing Operating Leases, High Commissions Charged by Cab

Aggregators and No Cash Payment in Ride Sharing in Australia; Decision Chart for Mobility

Requirement of Consumers in Australia)

4. Australia Car Leasing Market

4.1. Overview and Genesis (Market Stage and Players; Demand Dominated by the SMEs & Corporates;
Supply Dominated by Fleet Management Organizations, Timeline of Major Players and Life Cycle
Graph)

4.2. Market Size, 2013-2018

4.2.1. By Leasing Fleet Size, 2013-2018

4.2.2. By Revenue, 2013-2018

4.3. Market Segmentation, 2018

4.3.1. By Type of Car (Ute, Sedan, SUV and Luxury), 2018

4.3.2. By Region (New South Wales, Victoria, Queensland, Western Australia and Other States),
2018

4.3.3. By End User (Mining, Construction and Engineering, Government, Tele-communications and Others), 2018

4.4. Competitive Landscape (Including Cross Comparison by Establishment Year, Overall Fleet
Size Managed, Number of Employees, Average Lease Duration and Major Industry Focus)

4.4.1. Strengths and Weaknesses of Major Car Leasing Companies (SG Fleet, Eclipx Group, Toyota
Fleet Management, LeasePlan, ORIX and Summit Fleet)

4.4.2. Market Share of Major Car Leasing Companies (LeasePlan, Toyota Fleet Management, Eclipx
Group, SG Fleet, Custom Fleet, ORIX, Summit Fleet, McMillian Shakespeare and Others) on the
Basis of Leasing Fleet Size, 2018

4.4.3. Company Profiles of Major Car Leasing Companies (LeasePlan, Eclipx Group and SG Fleet)
Including Company Overview, Service Portfolio, Geographical Presence, Fleet Size & Market Share
(2018), USP, Major Clients, Recent Developments and Future Strategies

LeasePlan Australia

Eclipx Group

SG Fleet

4.5. Future Outlook and Projections, 2019-2023

4.5.1. By Leasing Fleet Size and Revenue, 2019-2023F

4.5.2. By Type of Car (Ute, Sedan, SUV and Luxury), 2023F

4.5.3. By End User (Mining, Construction and Engineering, Government, Tele-communications and
Others), 2023F

5. Australia Car Rental Market

5.1. Market Overview and Genesis (Market Stage and Players, Major Rental Outlet Airports, Two-
Tiered Competition in the Industry and Industry Life Cycle)

5.2. Market Size, 2013-2018

5.2.1. By Rental Fleet Size, 2013-2018

5.2.2. By Rental Revenue, 2013-2018

5.3. Market Segmentation, 2018

5.3.1. By Type of Car (SUV, Sedan and Ute), 2018

5.3.2. By Rental Purpose (Leisure, and Business), 2018

5.3.3. By Booking Mode (Online and Offline), 2018

5.4. Competitive Landscape (Including Cross Comparison by Establishment Year, Number of

Branches / Locations, Car Rental Fleet Size, Average Rental Days, Utilization Rate, Daily
Revenue / Rental and Revenue from Rental)

5.4.1. Market Share of Major Car Rental Operators (Avis, Hertz, Budget, Thrifty, Europcar, Red
Spot, Bayswater and Others) on the Basis of Rental Revenue, 2018

5.4.2. Company Profiles of Major Car Rental Operators (Avis, Hertz, Thrifty and Others)

Including Company Overview, Service Portfolio, Geographical Presence / Locations Operated,

Fleet Size & Market Share, Average Rental Duration & Utilization Rate, Value Added Products &
Services, Strengths and Recent Developments

Avis Australia

Hertz Australia

Thrifty Australia

5.5. Future Outlook and Projections, 2019-2023F

5.5.1. By Rental Fleet Size and Revenue, 2019-2023F

5.5.2. By Rental Purpose (Leisure and Business), 2023F

5.5.3. By Booking Mode (Online and Offline), 2023F

6. Australia Ride Hailing Market

6.1. Market Overview & Genesis (Market Stage and Players, Insufficient Demand v/s Supply,
Limited Restrictions on Entry of New Players, Industry Life Cycle and Entry Timeline of Major
Cab Aggregators)

6.2. Market Size, 2013-2018

6.2.1. By Fleet Size, 2013-2018

6.2.2. By Revenue, 2013-2018

6.3. Market Segmentation, 2018

6.3.1. By Type of Ride (Sedan or Economy, SUV & Ute and Luxury), 2018

6.3.2. By Hailing Purpose (Airport, Leisure and Office), 2018

6.3.3. By State (New South Wales, Victoria, Queensland, Western Australia and Other States),
2018

6.4. Competitive Landscape (Including Heat Map of Major Cab Aggregators and Cross Comparison by
Year of Entry, Number of Drivers, Payment Method Offered, Driver Commission Rate and Airport
Locations)

6.4.1. Strengths and Weaknesses of Major Cab Aggregators (Uber, Ola, DiDi and GoCatch)

6.4.2. Market Share of Major Cab Aggregators (Uber, Ola, DiDi, Taxify and Others) on the Basis
of Cab Fleet Size, 2018

6.5. Company Profiles of Major Cab Aggregators (Uber and Ola) Including Company Overview, Rides
Offered, Funding Streams, Geographical Presence, Fleet Size & Market Share, Number of Riders,
Commission Charged, USP, Key Partnerships, Recent Developments and Future Strategies

Uber

Ola

Other Players (DiDi, Taxify and GoCatch)

6.6. Future Outlook and Projections, 2019-2023F

6.6.1. By Revenue and Cab Fleet Size, 2019–2023F

6.6.2. By Type of Ride (Sedan or Economy, SUV & Ute and Luxury), 2023F

6.6.3. By Hailing Purpose (Airport, Leisure and Office), 2023F

7. Trends and Developments

Growth of Car Sales in Australia

High Electric Vehicle Uptake in Australia

Changing Employee Mobility Trends

8. Issues and Challenges

Closedown of Automotive Manufacturing in Australia

Growth in Popularity of Novated Leasing

Rise of Car Sharing

High Driver Turnover Rates and Fees

9. SWOT Analysis

10. Regulatory Landscape

11. Analyst Recommendations

Introducing Electric and Hybrid vehicles in Leasing Fleet

Improving Driver Relations and Satisfaction

Partnerships between Ride Sharing and Rental Companies

Improving Customer Rental Experience

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