Car Rental Set to Explode in APAC Travel Market

Car rental is the smallest Asia Pacific (APAC) travel segment with gross bookings of US$8.4 billion in 2015 – air is the largest segment at US$157.1 billion. This means there's room for revenue growth in the coming years. Phocuswright's research report Asia Pacific Online Travel Overview Ninth Edition provides market sizing and aggregate gross travel bookings of APAC-based suppliers, and includes data on trends, individual market dynamics and projections through 2020.

Despite operators facing competition from taxi- and ride-hailing services, rental gross bookings will grow 11% each year to reach US$14.2 billion by 2020. 

Online car rental gross bookings will increase at 15% CAGR from 2015 to reach US$2.8 billion by 2020.

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For more data and insights into Phocuswright's latest market performance data and travel trends across China, Japan, India, Australia and New Zealand, purchase Asia Pacific Online Travel Overview Ninth Edition.