DUBLIN--(BUSINESS WIRE)--The "Brazil Vehicle Rental Market - Overview and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The Brazilian vehicle rental market accounted to USD 4.68 billion in 2017 and is estimated to exceed USD 6.08 billion by 2023, at a CAGR of 4.54% during the forecast period.
Increased concern and awareness of lower emissions have primarily led to the increase in vehicle rental options, where car rental and carpooling significantly help reduce the number of cars on the road. Budget cars, commonly known as "popular cars," make up the largest proportion of the car rental industry's fleet. This is principally a result of the comparatively low purchasing power of the Brazilian population. Brazil's total fleet is strongly concentrated in the Southeast region.
Additionally, the country has been home to various historical sites including opera house in Manaus, colonial towns, and churches along with numerous cultural celebrations (especially the Rio-de-Janeiro carnival), which are grandly celebrated, making the country one of the preferred destinations for inbound tourism in Latin America.
Key Highlights
- Strong Domestic Tourism Industry and Increase in International Tourism
- Leisure/Tourism - Fastest Growing Segment
Notable Developments in the Market
- March 2018: Localiza is expected to use Uber services for its vehicle rental fleet. The number of people without a car has led to the growth of potential customers for Localiza. The company announced that they will use Uber services, in order to cater to the customers who need a one-way trip ride. According to this innovation, the Uber services shall contribute to about 5% of Localiza's rental car volume.
- March 2018: Brazilian car rental firm Locamerica acquired its smaller rival Auto Ricci SA, leading to the creation of the largest automotive rental company. According to the contract, Locamerica will acquire 33.7% share of the Ricci firm.
Key Topics Covered
1. Introduction
2. Executive Summary
3. Market Overview and Trends
4. Market Dynamics
5. Brazil Vehicle Rental Market, by Application Type
6. Brazil Vehicle Rental Market, by Booking Type
7. Brazil Vehicle Rental Market, by Vehicle Type
8. Brazil Vehicle Rental Market, by Usage
9. Brazil Vehicle Rental Market, by End User
10. Competitive Landscape
11. Key Vendor Analysis
- Localiza
- Locamerica
- Unidas
- Movida
- Avis Budget
- Enterprise Group
- Ouro Verde
12. Future of the Market
For more information about this report visit https://www.researchandmarkets.com/research/tgtggg/the_vehicle?w=4
