Belgium Car Rental Market Outlook 2027F
driven by increasing tourism, technological prospects & customer loyalty
Region:Europe
Product Code:KROD79
December 2022
70
About the Report
The report provides a comprehensive analysis of the Car Rental market in Belgium. The report covers a wide range of aspects including overview, genesis, market size in respect with revenue & fleet size, market segmentation by fleet size, by fleet type (Compact, SUV & luxury), by region & purpose (Leisure or Business). The report also covers comprehensive details on the recent trends & developments, problems & challenges, SWOT analysis & major acquisition & merger deals in the industry. An elaborated competitive landscape including competitive scenario, cross comparison matrix, strength & weakness of key players, market share on the basis of fleet size is also included in the report. The report concludes with the future projections for the above mentioned market segments & analyst recommendations that involves key strategies for the key players to ensure that they enhance their existing profit levels for the foreseeable future as well as some major suggestions for the potential entrants highlighting the major opportunities available & some cautions.
Market Overview
Belgium Car Rental market has witnessed a steady growth in the 2017-2021 period in terms of fleet size & revenue owing to the expansion in the number & size of both local & international players & market size as a result of increase in the number of tourists travelling to Europe. Regarding the future projections, the Belgium Car Rental market is expected to reach US $ ~Mn in 2022P & will grow at an annual growth rate of ~% (CAGR). The user penetration is expected to reach ~% by 2027 & the average revenue per user will be US $ ~ Mn.
- Belgium has a well-established tourism industry which is of high advantage to the Car Rental market established there.
- The market is moderately concentrated with a few giants operating in there. The key players operating in the market are Avis budget, Carzonrent, Sixth, Hertz, Enterprise-rent-a-car & Europcar.
Key trends by market segment
By type of Vehicle: Compact vehicles accounted for the highest market share in 2022. Compact Cars belonging to Ford Focus, Volkswagen, Golf, Seat Leon accounted for being the most popular cars for rental in Belgium & other European countries.
By Purpose: Cars rented for Leisure purposes contributed majority share in the car rental market in Belgium & other regions of Europe. Remaining share was observed to be captured by business or corporate car rental transactions in 2022. It was witnessed that car rental market in Belgium was more inclined towards business transactions.
Belgium Car Sharing Market: Car Sharing Market has been growing owing to a rise in the number of local and international players operating in Belgium & other European countries.
Belgium Cab Aggregator Market: Cab Aggregator Market in Belgium has been growing owing to a rise in the number of users and operational locations in the region.
Competitive scenario:
Car Rental Market in Belgium & the other regions of Europe is moderately concentrated owing to the presence of a few big players namely Avis Budget, Sixth, Europcar, Hertz & Enterprise-rent-a-car serving as dominant & active entities in the industry. Global giants enter the market through strategic partnership with local players by way of franchise, acquisition or merger. The competition amongst the entities is on the basis of price, quality of service being provided, ease of car rental & return, vehicle reliability, vehicle availability, product innovation, rental location, local & international distribution & the seamless process of car renting.
Future Outlook
In future, it is anticipated that car rental market in Belgium & other parts of Europe will be fuelled by rise in tourist arrivals, economic growth, regional expansion of players in terms of fleet size, increase in customer spending, initiatives undertaken to reduce traffic congestion and carbon footprint by government bodies across various countries and growth in investments in technology by major players in the market over the years. Although a bit fluctuations are predicted a result of Russia Ukraine war & the rise in the energy prices, steps can be taken to increase the overall revenue.
Key Topics Covered in the Report
- Overview of Automotive Industry in the Belgium
- Overview and Genesis of Car Rental Market in Belgium
- Ecosystem of Belgium Car Rental Market
- Business Cycle and Value Chain Analysis of Car Rental Market in Belgium
- Belgium Car Rental Market Sizing, 2017- 2022P
- Market Segmentations of Car Rental Market in Belgium (by Market Structure, by Type of Vehicle, by ICE/ EV, by Mode of Booking, by Pick-up, by Client, by Region), 2022P
- Snapshots on Car Sharing, Cab Aggregators, Car Pooling/ Ride, Self- Driven Cars and Bike Aggregators
- SWOT Analysis of Belgium Car Rental Market
- Growth Drivers of Belgium Car Rental Market
- Government Regulations And Incentives of Belgium Car Rental Market
- Trends and Developments of Belgium Car Rental Market
- Challenges of Belgium Car Rental Market
- Competitive Analysis of Car Rental Market in Belgium
- End User Analysis of Car Rental Market in Belgium
- Future Outlook and Projections of Car Rental Market in Belgium, 2022P-2027F
- Market Opportunities and Analyst Recommendations
- Disclaimer
- Research Methodology
Scope of the Report
|
By Type of Vehicle Rented |
Luxury Executive Economy SUV MUV |
|
By Application |
Local Usage Airport Transport Outstation Others |
|
By Price |
high (500,000+) medium (200k-500k) low (below 200K) |
|
By Company |
Avis Europcar Sixth Carzonrent |
|
By Tenure |
Short term Long term |
|
By Major Cities |
Antwerp Brussels Bruges Namur |
|
By Booking Mode |
Online Offline |
Products
Key Target Audience -Organizations and Entities Who Can Benefit by Subscribing This Report
- Car Rental Companies
- Ride Hailing Companies
- Car Sharing Companies
- Government/Regulatory Authorities
- Online Aggregators
- Automotive OEM
Time Period Captured in the Report
- Historical Period: 2017-2021
- Base Period: 2022P
- Forecast Period: 2023F-2027F
Companies
Major Players mentioned in the Report
- Avis Budget
- Carzonrent
- Sixth
- Enterprise-rent-a-car
Table of Contents
1. Executive Summary
2. Belgium Car Rental Market Overview
2.1 Taxonomy of the Belgium Car Rental Market
2.2 Industry Value Chain
2.3 Ecosystem
2.4 Government Regulations/Initiatives for the Belgium Car Rental Market
2.5 Growth Drivers of the Belgium Car Rental Market
2.6 Issues and Challenges of the Belgium Car Rental Market
2.7 Impact of COVID-19 on the Belgium Car Rental Market
2.8 SWOT Analysis
3. Belgium Car Rental Market Size, 2017 – 2022
4. Belgium Car Rental Market Segmentation
4.1 By Car Type, 2017 - 2022
4.2 By End-User, 2017 – 2022
4.3 By Regional Split (North/East/West/South/Central), 2017 - 2022
5. Competitive Landscape
5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
5.2 Strategies Adopted by Leading Players
5.3 Company Profiles – (Top 5 - 7 Major Players)
5.3.1 Avis Budget
5.3.2 Carzonrent
5.3.3 Sixth
5.3.4 Enterprise-rent-a-car
6. Belgium Car Rental Future Market Size, 2022 – 2027
7. Belgium Car Rental Future Market Segmentation
7.1 By Car Type, 2022 - 2027
7.2 By End-User, 2022 - 2027
7.3 By Regional Split (North/East/West/South), 2022 - 2027
8. Analyst Recommendations
9. Research Methodology
10. Disclaimer
11. Contact Us
Research Methodology
Step 1: Identifying Key Variables:
Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.
Step 2: Market Building:
Collating statistics on used car and new car over the years, penetration of rental cars and amount ratio to compute overall credit disbursed for cars. We will also review central bank statistics to understand credit disbursed and outstanding amount which can ensure accuracy behind the data points shared.
Step 3: Validating and Finalizing:
Building market hypothesis and conducting CATIs with industry exerts belonging to different companies to validate statistics and seek operational and financial information from company representatives.
Step 4: Research output:
Our team will approach multiple car rental providing channels and understand nature of product segments and sales, consumer preference and other parameters, which will support us validate statistics derived through bottom to top approach from rental car providers.
Frequently Asked Questions
01 What is the Study Period of this Market Report?
The Belgium Car Rental market report is covered from 2017–2026 in this report, including a forecast for 2022-2026.
02 Who are the Key Players in the KSA Car Finance Market?
Avis Budget, Carzonrent, Sixth, Enterprise-rent-a-car, Europcar are some of the key players in the market
03 What is the Future Growth Rate of the Belgium Car Rental Market?
The KSA Car Finance Market is expected to witness a CAGR of ~10.04% over the next five years.
04 What are the Key Factors Driving the Belgium Car Rental Market?
Tourism, recovery from the global pandemic, switch back to work from office are likely to drive growth.
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