Executive Summary
Vietnam Taxi Market has witnessed swift development amidst a progressive expansion of organized sector coupled with increased penetration of the internet. Accommodative financial conditions, robust infrastructure development and improving business climate played a major role in increasing level of spending among middle class population. Moreover, the rampant investments in technology and investments by major companies have contributed to considerable growth in this market.
Vietnam Taxi Market witnessed a resilient CAGR of 15.5% during the period 2012-2017. Momentous growth in tourism industry, falling demand for motorbikes, decline in oil prices over the last 2 years, and progression in per-capita income of Vietnamese are the major factors driving this growth. Additionally, introduction of tech-savvy players like Grab and Go-Jek has created an intensified competition while simultaneously providing more choices to customers. After Uber exit from the market, many new ride hailers have entered into the market which further strengthened the race.
The government of Vietnam has introduced various regulations on car manufacturing, assembly, importation, and warranties, a move that tightened car imports from January 2018. Additionally, the government has developed various policies to encourage international tourism, a move which will help the players to capture untapped potential which once penetrated, would make Vietnam a leading destination for car rental.
An Insight into Car Rental Market
Vietnam Car Rental Market has witnessed a double digit CAGR during the period 2012-2017. In the past two years, the market has evolved and witnessed a huge growth, both in terms of users and service providers. Surge in air travel for both business and leisure purposes has played an active role in augmenting demand for Car Rentals.
The enhancement in growth can be attributed to escalating demand for business trips fueled by expansion in online and mobile bookings. Robust demand for Chauffeur driven cars in key regions like Hanoi and HCM city played an extensive role in stimulating market revenue. Moreover, increase in domestic and international tourism, development of airport infrastructure, and upsurge in passenger inflow at airports were addressed as the primary reason towards the growth of On-Airport Car Rental revenue.
Nascent growth of Cab Aggregators
Vietnam Cab Aggregator market has grown at a CAGR of 16.8% during the period 2013-2017. Change in demographic pattern, surge in urbanization, and boom in ICT market were the major enablers for this strong growth. The deep penetration of mobile internet helped Vietnamese to book cabs online and monitors costs on real time basis.
With the advent of technology, the Cab Aggregators found a way to operate their business in an organized manner. The aggregators made its presence in cities like Hanoi and HCM, where the volume of bookings was high.
Future Outlook
Vietnam Taxi Market is continuing expected to grow at a double digit CAGR during the period 2017-2022. Advent of new players coupled with rapid development of road infrastructure is the major driving force to uplift the market in near future.
Scope of the Study
The synopsis presented has been derived from the report titled “Vietnam Taxi Market- Car Rental and Cab Aggregator, An Outlook to 2022” published by Makreo Research and Consulting Firm. The report deep dives into market assessment on various parameters, discussing major segments, and accessing the impact of economic, political, technological& demographic factors on the market.
The study also discusses market dynamics which offer an understanding of industry trends, driving forces and major challenges hampering the growth. The report gives an understanding of future opportunities prevailing in the market which may help market players to leverage untapped business potential.
Key Players in Vietnam Taxi Market
Vietnam Sun Corporation (Vinasun), Mai Linh Group, Vina(Vietnam) Rent A Car, Avis Vietnam, Budget Vietnam, Grab Vietnam, Aber, Go-Jek, FastGo, VATO, MVL and Xelo
The report helps readers to gain information on the following areas:
Table of Content
1. Vietnam Taxi Market: Industry Overview
Vietnam Passenger Car Market: An Introduction
Passenger Vehicles Production and Sales: Vietnam Vs. Major ASEAN Countries
Road Network in Vietnam
Vietnam Taxi Market Performance
Value Chain Analysis : Vietnam Car Rental Market
Value Chain Analysis : Vietnam Cab Aggregator Market
2. Country Overview
Country Overview: EPTD Analysis
3. Research Methodology
Objective of the Study
Key Variants and Definitions
Research Process
4. Vietnam Taxi Market Analysis, 2012-2017
Vietnam Taxi Market Analysis by Revenue, 2012-2017
5. Vietnam Taxi Market Segmentation
Vietnam Taxi Market Segmentation - By Services, 2017
Vietnam Taxi Market Segmentation - By Structure, 2017
6. Vietnam Car Rental Market Analysis & Forecast, 2012-2022
Vietnam Car Rental Market Analysis by Revenue, 2012-2017
Vietnam Car Rental Market Analysis by Fleet Size, 2017
Vietnam Car Rental Market Segmentation
Vietnam Car Rental Market Segmentation- By Self-Driven and Chauffeur Driven,2017
Vietnam Car Rental Market Segmentation- On Airport and Off Airport, 2017
Chauffeur Driven Car Rental Market Segmentation – By Clients (Corporate and Retail), 2017
Self Driven Car Rental Market Segmentation – Clients (Corporate and Retail), 2017
Vietnam Car Rental Market Segmentation – By Type of Trip (Leisure and Business), 2017
Vietnam Car Rental Market Segmentation – Car Type (Luxury, Medium and Small), 2017
Pricing Analysis of Vietnam Chauffeur Driven Car Rental in VDN, 2017
Vietnam Car Rental Market Segmentation – Cities, 2017 (Ho Chi Minh, Hanoi, Da Nang, Hue and Others)
Vietnam Car Rental Market Segmentation – Online and Offline Booking, 2017
7. Vietnam Car Rental Market Competitive Landscape
Vietnam Car Rental Market Competitive Landscape
8. Vietnam Car Rental Market Company Profile
Company Profile: Vietnam Sun Corporation (Vinasun)
Company Profile: Mai Linh Group
Company Profile: Vina(Vietnam) Rent A Car
Company Profile: Avis Vietnam
Company Profile: Budget Vietnam
9. Vietnam Car Rental Market Future Outlook
Vietnam Car Rental Market Future Outlook by Revenue, 2018-2022
10. Vietnam Cab Aggregator Market Analysis & Outlook, 2013-2022
Vietnam Cab Aggregator Market Analysis by Revenue, 2013-2017
Vietnam Cab Aggregator Market Segmentation, 2017
Vietnam Cab Aggregator Market Segmentation – By Online and Offline Booking, 2017
Vietnam Cab Aggregator Market Segmentation – By Type of Trip, 2017
Vietnam Cab Aggregator Market Segmentation – By On Airport and Off Airport, 2017
Vietnam Cab Aggregator Market Segmentation – By Car Type (Small, Medium and Luxury), 2017
11. Vietnam Cab Aggregator Market Competitive Landscape
Vietnam Cab Aggregator Market Competitive Landscape
12. Vietnam Cab Aggregator Market Company Profile
Company Profile: Grab Vietnam
Company Profile of New Players – Aber, Go-Jek, FastGo, VATO, MVL, Xelo
13. Vietnam Cab Aggregator Market Future Outlook 2018-2022
Vietnam Cab Aggregator Market Future Outlook by Revenue, 2018-2022
14. Vietnam Taxi Market Future Outlook 2018-2022
Vietnam Taxi Market Future Outlook by Revenue, 2018-2022
15. Micro Industry Dynamics
Trends and Developments
Market Enablers
Market Retardants
Vietnam Car Rental and Cab Aggregator Market: SWOT Analysis
16. Macro Industry Dynamics
Macro Economic Factors - Government Regulations
Analyst Recommendation
Key Takeaways