Market Performance: Thailand car rental market has large number of organized and unorganized players that makes the market highly competitive. Thailand has made significant progress in social and economic development throughout the last four decades, relocating from a low-income to an upper-middle-income nation in less than a generation.
Thailand car rental market is extremely complicated as the majority of the market is dominated by leasing companies affiliated with banks that combine hire purchase and leasing. Car rental services are becoming more popular, but there is still a lot of room for growth.
In Thailand car rental market, one of the major factors driving the expansion of car rental services is Tourism. In terms of industry revenue, the industry has previously experienced double digit growth before the virus outburst. During the period 2015-2019, the fleet size of the Thailand car rental market has surpassed by growing at a CAGR of XX%.
Car Rental Market Size Thailand has increased from USD 788 million in 2015 to more than USD 1,000 million in 2019. However, In the year 2020, cab service providers witnessed a steep drop due to the outbreak of the virus.
Thailand car rental market outlook after the COVID-19 outburst is positive with reopening of borders for tourists and businesses catching up speed. But considering the moderate case scenario, Thailand car rental market outlook shows a slow recovery, with a CAGR of ~% from 2021 to 2026.
Bangkok is Thailand's capital which is the largest city in the country, with a population of 5.7 million people, and the number of registered vehicles in the city is rapidly increasing, including motorcycles.
On the other hand, the lack of a driving license and short-term contracts, migrant workers in Thailand prefer taxi services, therefore Car Rental Market in Thailand has a lot of potential with the increase in business activities in the countries.
Impact of COVID-19: The outbreak of the virus severely hampered the Car Rental Market in Thailand, as Thailand is one of the cheapest honeymoon destinations for many countries across the world. The implication of lockdown across the globe to prevent from the virus restricted tourist, which is one of the main source of markets income.
In addition, the economic growth in Thailand decreased by 6.1% in 2020. The Thai economy, after suffering its worst contraction since the Asian financial crisis in 2020, grew by 2% in the first six months of 2021 during the third wave of the Covid-19 pandemic. Also, until 2023, there are no expectations regarding its recovery to pre-Covid-19 levels.
Organised Channel Gaining Traction: Thailand's organised car rental market accounts for a significant portion of market share; as one of the leading tourism destinations, many foreign players, including Avis, Hertz, and Sixt, exit the car rental segment.
The organised channel is gaining traction due to the large number of fleet sizes available, which come with numerous benefits such as a technologically advanced online booking system, trained and verified drivers, and mileage-based discounts, among other things.
Furthermore, the unorganised segment primarily serves tourists who book through a travel agency, and these car rental companies work with travel agents.
Scope of the Study
The following synopsis is based on the report "Thailand Car Rental- COVID-19 Impact and Outlook to 2026" published by Makreo Research and Consulting Firm. The report delves deeply into various parameters such as market size, segmentation, value chain analysis, and industry cause, effect analysis and Thailand car rental market outlook.
The study includes market dynamics that provide an understanding of the industry opportunities, driving forces, major challenges impeding growth, and an analysis of future opportunities that may help market players capitalise on untapped business potential in the specific geography.
The report helps the reader to compare performance of Car rental during pre-COVID scenario and what changes have been seen in recent years? It is important to understand the macro level assessment that helps to strategies future actions.
This is a detailed study which comprises of assessment on all levels including micro and macro analysis. On micro level we have studied players positioning and performance, average cost of renting chauffeured driven car and self-drive car.
While on macro level we have studied Government initiatives, number of fleet available, technological developments, industry challenges, population versus spending power, present state of tourism and business opportunities. These areas help us to count any shift expected in the market in near future and consider all major factors on which industry rely upon.
COVID-19 Impact Assessment: COVID-19 has turned out to be a game changer for tourism sector and so as hampered business of car rental in Thailand. There are challenges present on the global level that are impacting the industry performance.
COVID-19 impact helps the reader to review past and present spread of the virus and its impact over the industry in 2020 and beyond.
The report discusses Thailand Car rental market on various parameters covering number of people opt for rented cars, Total Number of New Cars Sold in Thailand, Thailand Car Rental Market Segmentation by Organized and Unorganized channels, Segmentation by Self Drive vs Chauffer Driven, Segmentation by Car Rental Operators and Corporate Fleet, Long Term Rental and Short-Term Rental Services and others.
We have covered market revenue and Thailand car rental market outlook to 2026.
The report helps reader to gain information on following areas:
Table of Content
1. Thailand Car Rental - Industry Overview
Road Network in Thailand
Thailand Tourism Facts
Value Chain Analysis : Thailand Car Rental Market
2. Research Methodology
Objective of the Study
Data Collection Methods
3. Country Overview-EPTD Analysis
Country Overview – EPTD Analysis
EPTD Analysis – Economic Overview
EPTD Analysis – Political Overview
EPTD Analysis – Technological Overview
EPTD Analysis –Demographic Overview
4. Micro Industry Dynamics
Trends and Developments
Indirect Market Enablers
Direct Market Enablers
Market Enablers –Key Stats
5. Macro-Economic Industry Dynamics
Macro Economic Factors-FDI
Macro Economic Factors-Income and Car Imports
Macro Economic Factors-Urbanization and Penetration of Smartphones
6. Thailand Trade Facts
Trade Facts - Thailand Total Imports of Goods and Services
Trade Facts - Thailand Total Exports of Goods and Services
Thailand Car Trade Facts
7. Thailand Car Rental Market Performance & Future Outlook
Thailand Car Rental Market –Key Facts
Thailand Car Rental Fleet
Thailand Car Rental Market Performance
8. Thailand Car Rental Market Segmentation
Thailand Car Rental Market Segmentation by Organized and Unorganized Market, 2020
Thailand Car Rental Market Segmentation by Self Drive vs Chauffer Driven, 2020
Thailand Car Rental Market Segmentation by Car Rental Operators and Corporate Fleet
Thailand Car Rental Market by Long Term Rental and Short Term Rental Services, 2019
Thailand Car Rental Demand by Cities
COVID-19 Impact over Thailand Cities
Rank of Thailand Cities in Terms of Tourist Arrival
9. Thailand Car Rental Market Future Outlook
Thailand Car Rental Market Future Outlook
Thailand Car Rental Market Revenue Forecast
10. Thailand Car Rental Market-Company Profiles
Thailand Car Rental Market - Mergers & Acquisition
Thailand Car Rental Market – Key Takeaways