Boston, MA -- (SBWIRE) -- 06/02/2014 -- Since the Czech consumers are not usually accustomed to renting cars, arrivals and business customers remained the main driving force for car rental value sales over 2012. As a result, car rental remained highly dependent on inbound tourism, with retail value sales increasing by 3% in 2012 to CZK789 million; the growth of 3% was seen also in transaction volume.
The largest part of the market belongs to the limited number of operators which are usually the franchises of international car rental corporations. International players hold the major shares as foreign visitors tend to choose brands they know from their own country and also amongst the Czech consumers these brands have higher trust as being part of large corporations. Such players offer stable booking volumes based on central contracts through the franchise system, which gives them a great advantage over local players. In addition, rental prices offered by multinational companies are higher compared to those of smaller firms due to their business model, which focuses on operating franchises.
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Car rental value is expected to increase at a CAGR of 3% (at constant 2012 prices) over the forecast period. The largest market share will be continuously belonging to business, which share is forecasted to achieve 69% by the end of 2017. Such impressive progress will be possible as the joint effect of rising demand from the side of both incoming and domestic business customers. Car replacement systems will become more popular amongst insurance companies, a result of intense competition within that branch.
Discover the latest market trends and uncover sources of future market growth for the Car Rental industry in Czech Republic with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Car Rental industry in Czech Republic, our research will save you time and money while empowering you to make informed, profitable decisions.
The Car Rental in Czech Republic market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Car Rental in Czech Republic?
- What are the major brands in Czech Republic?
- Is there a shift from airport car rental to non-airport?
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