Vietnam Car Rental Market Overview
According to SPER Market Research, the Vietnam Car Rental Market is estimated to reach USD 1.96 billion by 2032 with a CAGR of 14.04%.
The Vietnam Auto Reimbursement request covers the current and forthcoming trends with recent technological development. The organized players lead the auto reimbursement request in Vietnam with profit share in earlier years due to adding number of domestic and foreign companies setting up their commercial office in the country and number of players adding their line size over the times also, of the request is captured by unorganized players in profit generation due to numerous domestic players operating in this space. Non-chauffeur driven buses reckoned for profit share in auto reimbursement request in Vietnam Excursionists prefer to visit multiple destinations and tone- driven buses are more provident as they don’t have to pay motorist’s charge or for food and accommodation.
The motorist driven auto member was led by the off-field position pickups and drop offs with profit share in the auto reimbursement request in Vietnam during previous years. This market is driven by the excursionists travelling to the country and the short passages made by the commuters for travelling inside the megacity for diurnal requirements or rest time. The motorist driven auto member reckoned profit share from on field volley and drop offs in Vietnam. Non-chauffeur driven buses reckoned for profit share in auto reimbursement request in Vietnam. Excursionists prefer to visit multiple destinations and tone- driven buses are more provident as they don’t have to pay motorist’s charge or for food and accommodation.
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.
Due to Vietnam's growing urbanization and middle-class development, it is projected that car rentals will eventually rank among the most well-known services provided in the urban transportation sector for local use, airport transit, and out-of-town trips. The rising use of the internet and the constant expansion of the organized sector have both contributed to the rapid expansion of the Vietnam vehicle rental market.Due to accommodative financial circumstances, robust infrastructure development, and a better business climate, middle-class consumers spent more. Also, the market has expanded significantly as a result of regular technological developments and investments made by big businesses.
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Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Market Type, By Car Type, By Booking Type, By Rental Duration, By Application Type, By Customer Type, By Rental Location, By Non-Chauffeur and Non-Chauffeur Driven Cars
|
| Regions covered | Ho Chi Minh, Hanoi, Da Nang, Hue, Others
|
| Companies Covered | 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
|
Vietnam Car Rental Market Segmentation:
1. By Market Type:
- Organized
- Unorganized Players
2. By Car Type:
3. By Booking Type:
4. By Rental Duration:
5. By Application Type:
6. By Customer Type:
7. By Rental Location:
8. By Non-Chauffeur and Non-Chauffeur Driven Cars:
- Corporate Clients
- Retail Clients
9. By Region:
- Ho Chi Minh
- Hanoi
- Da Nang
- Hue
Key Topics Covered in the Report:
- Vietnam Car Rental Market Size (FY’2019-FY’2032)
- Overview of Vietnam Car Rental Market
- Segmentation of Vietnam Car Rental Market By Market Type (Organized, Unorganized Players)
- Segmentation of Vietnam Car Rental Market By Car Type (Luxury, Medium, Small)
- Segmentation of Vietnam Car Rental Market By Booking Type (Offline, Online)
- Segmentation of Vietnam Car Rental Market By Rental Duration (Long-Term, Short-Term)
- Segmentation of Vietnam Car Rental Market By Application Type (Tourism, Commuting)
- Segmentation of Vietnam Car Rental Market By Customer Type (Business, Leisure)
- Segmentation of Vietnam Car Rental Market By Rental Location (Airport, Non-Airport)
- Segmentation of Vietnam Car Rental Market By Non-Chauffeur and Non-Chauffeur Driven Cars (Corporate Clients, Retail Clients)
- Statistical Snap of Vietnam Car Rental Market
- Growth Analysis of Vietnam Car Rental Market
- Problems and Challenges in Vietnam Car Rental Market
- Competitive Landscape in the Vietnam Car Rental Market
- Impact of COVID-19 and Demonetization on Vietnam Car Rental Market
- Details on Recent Investment in Vietnam Car Rental Market
- Competitive Analysis of Vietnam Car Rental Market
- Key Players in the Vietnam Car Rental Market
- SWOT Analysis of Vietnam Car Rental Market
- Vietnam Car Rental Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Vietnam Car Rental Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Vietnam Car Rental Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Vietnam Car Rental Market
7. Vietnam Car Rental Market, By Market Type, 2019-2032 (USD Million)
7.1 Organized
7.2 Unorganized Players
8. Vietnam Car Rental Market, By Car Type, 2019-2032 (USD Million)
8.1 Luxury
8.2 Medium
8.3 Small
9. Vietnam Car Rental Market, By Booking Type, 2019-2032 (USD Million)
9.1 Offline
9.2 Online
10. Vietnam Car Rental Market, By Rental Duration, 2019-2032 (USD Million)
10.1 Long- Term
10.2 Short- Term
11. Vietnam Car Rental Market, By Application Type, 2019-2032 (USD Million)
11.1 Tourism
11.2 Commuting
12. Vietnam Car Rental Market, By Customer Type, 2019-2032 (USD Million)
12.1 Business
12.2 Leisure
13. Vietnam Car Rental Market, By Rental Location, 2019-2032 (USD Million)
13.1 Airport
13.2 Non-Airport
14. Vietnam Car Rental Market, By Non-Chauffeur and Non-Chauffeur Driven Cars, 2019-2032 (USD Million)
14.1 Corporate Clients
14.2 Retail Clients
15. Vietnam Car Rental Market, By Region, 2019-2032 (USD Million)
15.1 Vietnam Car Rental Size and Market Share by Region (2019-2025)
15.2 Vietnam Car Rental Size and Market Share by Region (2026-2032)
15.3 Ho Chi Minh
15.4 Hanoi
15.5 Da Nang
15.6 Hue
15.7 Others
16. Company Profiles
16.1 Avis
16.1.1 Company details
16.1.2 Financial outlook
16.1.3 Product summary
16.1.4 Recent developments
16.2 Budget
16.2.1 Company details
16.2.2 Financial outlook
16.2.3 Product summary
16.2.4 Recent developments
16.3 Grab
16.3.1 Company details
16.3.2 Financial outlook
16.3.3 Product summary
16.3.4 Recent developments
16.4 GREEN WORLD Car Rental
16.4.1 Company details
16.4.2 Financial outlook
16.4.3 Product summary
16.4.4 Recent developments
16.5 Hanoi Journey
16.5.1 Company details
16.5.2 Financial outlook
16.5.3 Product summary
16.5.4 Recent developments
16.6 Hoi An Private Car
16.6.1 Company details
16.6.2 Financial outlook
16.6.3 Product summary
16.6.4 Recent developments
16.7 Uber
16.7.1 Company details
16.7.2 Financial outlook
16.7.3 Product summary
16.7.4 Recent developments
16.8 Vietnamdrive
16.8.1 Company details
16.8.2 Financial outlook
16.8.3 Product summary
16.8.4 Recent developments
16.9 Vina Rent A Car
16.9.1 Company details
16.9.2 Financial outlook
16.9.3 Product summary
16.9.4 Recent developments
16.10 Vinasun, Mai Linh
16.10.1 Company details
16.10.2 Financial outlook
16.10.3 Product summary
16.10.4 Recent developments
16.11 VN Rent A Car Co. Ltd
16.11.1 Company details
16.11.2 Financial outlook
16.11.3 Product summary
16.11.4 Recent developments
17. List of Abbreviations
18. Reference Links
19. Conclusion
20. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
