New Consumer Goods research report from BRICdata is now available from Fast Market Research

Boston, MA -- (SBWire) -- 05/25/2012 --The South Korean car rental industry registered a CAGR of 8.41% during the review period and valued KRWX.X trillion in 2011. Economic growth and government initiatives to increase tourism remain the key industry drivers for the car rental industry in the country. The industry is projected to value KRWXX.X trillion by 2016, registering a CAGR of 7.3% over the forecast period. The South Korean car rental industry was primarily driven by the rising volume of leisure and business tourists. Leisure tourist volumes increased from 90.8 million in 2007 to 114 million in 2011, registering a CAGR of 5.85% during the review period.

Key Highlights

- The car rental industry in South Korea registered a CAGR of 8.41% during the review period, and valued KRWX.X trillion in 2011. The industry is projected to value KRWXX.X trillion by 2016 and record a CAGR of 7.3% over the forecast period (2012-2016).
- The growing volume of leisure and business passengers drove demand for rental cars in South Korea.
- Marketing and sales strategies play a key role in differentiating service offerings in the South Korean car rental industry.
- Companies are entering into mergers and acquisitions in order to broaden their market presence and expand their market shares.
- As a part of their marketing strategies, rental companies are building alliances and partnerships with leading airlines to aid loyalty programs.
- Franchise and licensing models have been proven to be key expansion strategies in the South Korean car rental industry.

View Full Report Details and Table of Contents

Scope

- This report provides an extensive analysis of the car rental industry in South Korea.
- It details historical values for the car rental market in South Korea for 2007-2011, along with forecast figures for 2012-2016.
- It offers detailed analysis of the factors driving the growth of car rentals and the key emerging trends in South Korea.
- The report details the key trends, regulatory environment, market entry strategies and marketing and growth strategies in South Korea.
- It provides profiles of the key companies operating in the car rental industry in South Korea.

Reasons to Get this Report

- Take strategic business decisions using top-level historic and forecast market data related to the car rental industry in South Korea and each sector within it.
- Understand the demand and supply-side dynamics within the car rental industry, along with key market trends and growth opportunities.
- Assess the competitive landscape in the car rental industry in South Korea and formulate effective market-entry strategies.
- Identify the growth opportunities and industry dynamics within the car rental industry.

Companies Mentioned in this Report: KT Kumho Rent-a-Car, Aju Autorental Co. Ltd, Hanaro Rent Car, Sixt Car Rental Company, Alamo Rent A Car, National Car Rental

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