Market Entry Strategies and Emerging Opportunities in the Car Rental Industry in South Korea

BRICdata, March 2012, Pages: 54

Synopsis

This BRICdata market report provides a market trend and growth analysis of the car rental industry in South Korea. With this market report, you will be able to explore in detail the changing shape and potential of the industry. You can plan and build strategy based on real industry data and projections.

This market research report includes:
- Analysis of key trends and demand drivers
- Detailed segmentation
- Historic volumes and values
- Five year forecasts for market trends and market growth

Summary

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.

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 Buy

- 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.

Examples of 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.

1 Executive Summary

2 South Korean Car Rental Industry Market Environment
2.1 Macroeconomic Fundamentals
2.1.1 South Korea – GDP at constant prices
2.1.2 South Korea – inflationary forecast and car rental industry outlook
2.1.3 South Korea – FDI Inflows by Sector
2.1.4 South Korea – annual disposable income
2.1.5 South Korea – unemployment rate

3 Market Size and Growth Potential
3.1 South Korea Car Rental Industry – Market Size
3.2 South Korean Car Rental Industry – Airport vs Non-Airport Locations
3.2.1 Demand for rental cars at airport and non-airport locations is increasing
3.2.2 South Korean car rental industry – car rental industry for airport locations
3.2.3 South Korean car rental industry – non-airport locations

4 South Korean Car Rental Industry – Customer Category Analysis
4.1 South Korean Car Rental Industry – Individual Customers
4.2 South Korean Car Rental Industry – Corporate Customers
4.3 South Korean Car Rental Industry – Insurance Replacement Customers

5 Competitive Landscape and Key Performance Indicators
5.1 Competitive Landscape
5.2 Key Performance Indicators
5.2.1 South Korean car rental industry – fleet size
5.2.2 South Korean car rental industry – fleet size by vehicle type
5.2.3 South Korean car rental industry – rentals
5.2.4 South Korean car rental industry – rental days
5.2.5 South Korean car rental industry – average rental length
5.2.6 South Korean car rental industry – utilization rate
5.2.7 South Korean car rental industry – average revenue per day

6 Market Entry Strategy and Demand Drivers
6.1 Market Entry Strategy
6.1.1 Regulatory framework
6.1.2 Market entry route
6.2 Demand Drivers
6.2.1 Leisure tourists – volumes and the car rental market
6.2.2 Business tourists – volumes and the car rental market
6.2.3 Spending patterns and demand for rented cars

7 Marketing and Growth Strategies

8 Key Operators
8.1 KT Kumho Rent-a-Car
8.1.1 KT Kumho Rent-a-Car– key company facts
8.1.2 KT Kumho Rent-a-Car– main services
8.2 Avis Rent A Car System, LLC
8.2.1 Avis Rent A Car System, LLC – key company facts
8.2.2 Avis Rent A Car System, LLC – main services
8.3 Sixt Car Rental Company
8.3.1 Sixt Car Rental Company– key company facts
8.3.2 Sixt Car Rental Company – main services

9 Appendix
9.1 About BRICdata
9.1.1 Areas of expertise
9.2 Methodology
9.3 Definitions
9.4 Disclaimer

List of Tables

Table 1: South Korea – GDP at Constant Prices (US$ Billion), 2007–2016 (Base Year 1999–2000)
Table 2: South Korea – Inflation (%), 2007–2016
Table 3: South Korea – Annual Disposable Income (US$ Billion), 2007–2016
Table 4: South Korea – Unemployment Rate (%), 2007–2016
Table 5: South Korean Car Rental Industry – Market Size (KRW Trillion), 2007–2011
Table 6: South Korean Car Rental Industry – Market Size (US$ Billion), 2007–2011
Table 7: South Korean Car Rental Industry – Market Size (KRW Trillion), 2012–2016
Table 8: South Korean Car Rental Industry – Market Size (US$ Billion), 2012–2016
Table 9: South Korean Car Rental Industry – Airport Locations (KRW Trillion), 2007–2011
Table 10: South Korean Car Rental Industry – Airport Locations (US$ Billion), 2007–2011
Table 11: South Korean Car Rental Industry – Airport Locations (KRW Trillion), 2012–2016
Table 12: South Korean Car Rental Industry – Airport Locations (US$ Billion), 2012–2016
Table 13: South Korean Car Rental Industry – Non-Airport Locations (KRW Trillion), 2007–2011
Table 14: South Korean Car Rental Industry – Non-Airport Locations (US$ Billion), 2007–2011
Table 15: South Korean Car Rental Industry – Non-Airport Locations (KRW Trillion), 2012–2016
Table 16: South Korean Car Rental Industry – Non-Airport Locations (US$ Billion), 2012–2016
Table 17: South Korean Car Rental Industry – Leisure Tourist Market Size (KRW Trillion), 2007–2011
Table 18: South Korean Car Rental Industry – Leisure Tourist Market Size (US$ Billion), 2007–2011
Table 19: South Korean Car Rental Industry – Leisure Tourist Market Size (KRW Trillion), 2012–2016
Table 20: South Korean Car Rental Industry – Leisure Tourist Market Size (US$ Billion), 2012–2016
Table 21: South Korean Car Rental Industry – Business Tourist Market Size (KRW Trillion), 2007–2011
Table 22: South Korean Car Rental Industry – Business Tourist Market Size (US$ Billion), 2007–2011
Table 23: South Korean Car Rental Industry – Business Tourist Market Size (KRW Trillion), 2012–2016
Table 24: South Korean Car Rental Industry – Business Tourist Market Size (US$ Billion), 2012–2016
Table 25: South Korean Car Rental Industry – Insurance Replacement Market Size (KRW Billion), 2007–2011
Table 26: South Korean Car Rental Industry – Insurance Replacement Market Size (US$ Million), 2007–2011
Table 27: South Korean Car Rental Industry – Insurance Replacement Market Size (KRW Billion), 2007–2011
Table 28: South Korea Car Rental Industry – Insurance Replacement Market Size (KRW Billion), 2012–2016
Table 29: South Korea Car Rental Industry – Insurance Replacement Market Size (US$ Million), 2012–2016
Table 30: South Korea Car Rental Industry – Competitive Landscape
Table 31: South Korean Car Rental Industry – Growth Outlook by Key Indicators, 2007–2011
Table 32: South Korean Car Rental Industry – Growth Outlook by Key Indicators, 2012–2016
Table 33: South Korean Car Rental Industry – Fleet Size (Thousand), 2007–2011
Table 34: South Korean Car Rental Industry – Fleet Size (Thousand), 2012–2016
Table 35: South Korean Car Rental Industry – Fleet Size by Vehicle Type (Million), 2007–2011
Table 36: South Korean Car Rental Industry – Fleet Size by Vehicle Type (Million), 2012–2016
Table 37: South Korean Car Rental Industry – Rentals (Million), 2007–2011
Table 38: South Korean Car Rental Industry – Rentals (Million), 2012–2016
Table 39: South Korean Car Rental Industry – Rental Days (Million), 2007–2011
Table 40: South Korean Car Rental Industry – Rental Days (Million), 2012–2016
Table 41: South Korean Car Rental Industry – Average Rental Length (Days), 2007–2011
Table 42: South Korean Car Rental Industry – Average Rental Length (Days), 2012–2016
Table 43: South Korean Car Rental Industry – Utilization Rate (%), 2007–2011
Table 44: South Korean Car Rental Industry – Utilization Rate (%), 2012–2016
Table 45: South Korean Car Rental Industry – Average Revenue Per Day (KRW Thousand), 2007–2011
Table 46: South Korean Car Rental Industry – Average Revenue Per Day (US$), 2007–2011
Table 47: South Korean Car Rental Industry – Average Revenue Per Day (KRW Thousand), 2012–2016
Table 48: South Korean Car Rental Industry – Average Revenue Per Day (US$), 2012–2016
Table 49: South Korean Leisure Tourist Volumes vs Leisure Car Rental Market, 2007–2016
Table 50: South Korea Business Tourist Volumes vs Business Car Rental Market, 2007–2016
Table 51: South Korean Domestic and International Tourist Expenditure on Travel and Transportation (KRW Trillion), 2007–2016
Table 52: KT Kumho Rent-a-Car– Key Facts
Table 53: KT Kumho Rent-a-Car – Main Services
Table 54: Avis Rent A Car System – Key Facts
Table 55: Avis Rent A Car System – Main Services
Table 56: Sixt Car Rental Company – Key Facts
Table 57: Sixt Car Rental Company – Main Services
Table 58: Exchange Rates, 2007–2016
Table 59: Market Intelligence Travel and Tourism Definitions

List of Figures

Figure 1: South Korea – GDP at Current Prices (US$ Billion), 2007–2016 (Base Year 1999–2000)
Figure 2: South Korea – Inflation (%), 2007–2016
Figure 3: South Korean FDI Inflows by Sector, (US$ Billion), 2007–2010
Figure 4: South Korea – Annual Disposable Income (US$ Billion), 2007–2016
Figure 5: South Korea – Unemployment Rate (%), 2007–2016
Figure 6: South Korean Car Rental Industry – Market Size (KRW Trillion), 2007–2011
Figure 7: South Korean Car Rental Industry – Market Size (KRW Trillion), 2012–2016
Figure 8: South Korean Car Rental Industry – Airport vs Non-Airport Locations (KRW Billion), 2007–2016
Figure 9: South Korean Car Rental Industry – Airport Locations (KRW Trillion), 2007–2011
Figure 10: South Korean Car Rental Industry – Airport Locations (KRW Trillion), 2012–2016
Figure 11: South Korean Car Rental Industry – Non-Airport Locations (KRW Trillion), 2007–2011
Figure 12: South Korean Car Rental Industry – Non-Airport Locations (KRW Trillion), 2012–2016
Figure 13: South Korean Car Rental Industry – Market Size by Customer Category, 2011
Figure 14: South Korean Car Rental Industry – Leisure Tourist Market Size (KRW Trillion), 2007–2011
Figure 15: South Korean Car Rental Industry – Leisure Tourist Market Size (KRW Trillion), 2012–2016
Figure 16: South Korean Car Rental Industry – Business Tourist Market Size (KRW Trillion), 2007–2011
Figure 17: South Korean Car Rental Industry – Business Tourist Market Size (KRW Trillion), 2012–2016
Figure 18: South Korea Car Rental Industry – Insurance Replacement Market Size (KRW Billion), 2012–2016
Figure 19: South Korea Car Rental Industry – Market Share
Figure 20: South Korean Car Rental Industry – Fleet Size (Thousand), 2007–2011
Figure 21: South Korean Car Rental Industry – Fleet Size (Thousand), 2012–2016
Figure 22: South Korean Car Rental Industry – Fleet Size by Vehicle Type (Million), 2007–2011
Figure 23: South Korean Car Rental Industry – Fleet Size by Vehicle Type (Million), 2012–2016
Figure 24: South Korea Car Rental Industry – Rentals (Million), 2007–2011
Figure 25: South Korean Car Rental Industry – Rentals (Million), 2012–2016
Figure 26: South Korean Car Rental Industry – Rental Days (Million), 2007–2011
Figure 27: South Korean Car Rental Industry – Rental Days (Million), 2012–2016
Figure 28: South Korean Car Rental Industry – Average Rental Length (Days), 2007–2011
Figure 29: South Korean Car Rental Industry – Average Rental Length (Days), 2012–2016
Figure 30: South Korean Car Rental Industry – Utilization Rate (%), 2007–2011
Figure 31: South Korean Car Rental Industry – Utilization Rate (%),2012–2016
Figure 32: South Korean Car Rental Industry – Average Revenue Per Day (KRW Thousand), 2007–2011
Figure 33: South Korean Car Rental Industry – Average Revenue Per Day (KRW Thousand), 2012–2016
Figure 34: South Korean Leisure Tourist Volumes vs Leisure Car Rental Market, 2007–2016
Figure 35: South Korea Business Tourist Volumes vs Business Car Rental Market, 2007–2016
Figure 36: South Korean Domestic and International Tourist Expenditure on Travel and Transportation (KRW Trillion), 2007–2016

- 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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