Brazil Vehicle Rental Market Size 2021: Global Top Companies, Industry Current Trends, Application, Growth Factors, Development and Forecast to 2023 Research Report

Posted on Dec 16 2021 6:44 AM

"Brazil Vehicle Rental Market Report incorporates both the qualitative and quantitative aspects of the industry with respect to each of the regions and countries involved in the study. The report also covers qualitative analysis on the market, by incorporating complete pricing and cost analysis of components & products, Porter's analysis and PEST (Political, Economic, Social & Technological factor) analysis of the market. The report also profiles all major companies active in this field. "

Global Brazil Vehicle Rental Market provides deep Information by vendors, including company overview, company total revenue (financials), market potential, global presence, Brazil Vehicle Rental sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch. this study provides the Brazil Vehicle Rental sales, revenue and market share for each player covered in this report. Brazil Vehicle Rental market is split by Type and by Application. The growth among segments provide accurate calculations and forecasts for sales by Type and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

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Brazil Vehicle Rental Market report features basic market situations, Product limit, consumption volume, and limit applications. Moreover, the report illuminates the SWOT analysis that should be done by the customers so as to know the Strength, Weaknesses, Opportunities, and Threats of the Brazil Vehicle Rental industry. It likewise centers around venture practicability investigation, speculation return analysis and different ways to deal with the addition a considerable position in the Brazil Vehicle Rental Market.The Brazil Vehicle Rental Market report also covers a detailed comprehension of the major geographies present in the market along with the key segments and sub-segments.

The report focuses on regional development status, which includes the market size, share, and volume. The Brazil Vehicle Rental Market report presents some of the key data, which would help the stakeholders in the industry besides the analysts and business decision makers. Production, consumption, cost, gross margin, revenue, market share and factors influencing market and CAGR has found its place in the report.

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Brazil Vehicle Rental Market

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. 

Strong Domestic Tourism Industry and Increase in Internarional Tourism

Tourism in Brazil is a growing sector and key to the economy of several regions of the country. The country had 6.36 million visitors in 2016, ranking in terms of the international tourist arrivals as the main destination in South America and second in Latin America after Mexico. Salvador, the second city of tourism after Rio and with a metropolitan area of over 3 million people, is Brazil’s eighth most populous city. Fortaleza is home to another 3.5 million Brazilians and is the fifth largest city with a strong tourist appeal as well as a strong industrial base.

Online travel (booking tickets) continued to gain ground on offline travel sales to residents in 2017, as Brazilians increasingly incorporated the habit of making purchases online, especially given the growing use of the internet for communicating lower-priced offers.

Most of the tourists in Brazil come from Argentina. As of 2016, around 35% came from Europe and 15% from the United States. The most visited destinations in Brazil are Sao Paulo, Rio de Janeiro, and Salvador de Bahia, along with several places all around the coast. Additionally, with the Relaxation in the issuing of visas to tourists from important source markets, such as the United States, Canada, Japan, and Australia, has also propelled the tourism in the country, in turn driving the vehicle rental market.

Brazil vehicle rental companies cater specifically to tourists looking to explore Brazil in their own time, with online and walk-in booking services making vehicle rental more simple, accessible, and efficient, in turn driving the growth of the market. 

Leisure/Tourism - Fastest Growin Segment

The leisure/tourism segment of the vehicle rental market in Brazil accounted to USD 1.08 billion in 2017. The segment is expected to project a CAGR of 5.02% during the forecast period.

One of the major factors that negatively affected the domestic tourism is the economic instability of the country, coupled with the decline in demand dynamics of the market owing to the inflation. The Brazilian GDP sharply declined from USD 2,456.04 billion in 2014 to USD 1,801.47 billion in 2015. Although it is steadily growing and registered USD 2,080.91 billion in 2017, and is still in a recovery phase and far from pre-2015 levels.

The sharp decrease in domestic tourism has, in turn, affected the vehicle rental industry negatively due to the drop in the overall number of tourists opting for rentals. The growth of the leisure/tourism vehicle rental segment is dependent on the amount of tourist influx from both international and domestic tourism.

The Brazilian government recently decreased the number of requirements applicable to foreign drivers. For instance, foreign tourists are now eligible to drive throughout the country with an only passport and their respective country’s driver license. Consequently, helping the country's vehicle rental market.

The rise in domestic tourism is one of the key factor expected to drive the vehicle rental market in the country. According to the Central Bank of Brazil, an increase of about 45% in the sales of holiday packages to Rio de Janeiro and Rio Grande do Norte’s capital, Natal was observed in the last five years.

The average age of the vehicles owned by operators for leisure/tourism purposes is around 18-24 months, more specifically for large operators owning more than 25 cars.

The Brazilian leisure/tourism vehicle rental segment is on a steady growth path owing to the current stable economy and rise in tourism industry within the country.

Competitive Landscape

The Brazilian vehicle rental market is majorly dominated by the local players, with 64% of the market share divided among local players. Localiza is the undisputed market leader, with 16% share, followed by Unidas. Both of these companies together occupy 24% of the market share.

The corporate fleet rental segment in Brazil remains fragmented. The major companies in the Brazilian Fleet Management market are Unidas, Localiza, Locamerica, Ouro Verde, Avis, Movida, and Leaseplan. Other competitors include Arval, ALD, DaVinci, Locaralpha, Lets, and Master Car Rental, among others.

The top four Brazilian vehicle rental companies together occupy 36% of the rental vehicle market. The rest of the market is highly unorganized, with the presence of regional players catering to only local markets, to avoid competition.

Major Players of the Market - LOCALIZA, UNIDAS, MOVIDA, AVIS, amongst others

Key Developments in the Market

March 2018: Localiza is expected to use the 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 the 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.

Reasons to Purchase this Report

Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The vehicle type that is expected to dominate the market
The countries that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3 months analyst support, along with the Market Estimate sheet (in Excel)

Customization of the Report

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Covered in this report

The Report Covers the Present Scenario and the Growth Prospects of the Global Brazil Vehicle Rental Market for 2021-2023. To calculate the market size, the report considers new installations or sales and subscription payments of Brazil Vehicle Rental.

Regional Market Analysis:

The Brazil Vehicle Rental Market report includes Global & Regional market status and outlook 2021-2023. Further, the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast

Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa

Global Brazil Vehicle Rental Market 2021-2023, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

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Market Trend

  • Growing research activities coupled with new product launches.

Market Driver

  • High Opportunity in the Industry

Market Challenge

  • Complications associated with Brazil Vehicle Rental procedures.

Some Major Points from Toc :-

1. Introduction
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.5 Degree of Competition
3.3 Price Analysis
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
5. Market Segmentation and Analysis (Market Size, Growth & Forecast)
5.1 By Product Type
5.2 By Application
5.3 By End-user Industry
6. Regional Market Analysis
6.1 Production Analysis
6.1.1 Australia
6.1.2 Bolivia
6.1.3 Brazil
6.1.4 Democratic Republic of Congo
6.1.5 Indonesia
6.1.6 Malaysia
6.1.7 Myanmar
6.1.8 Peru
6.1.9 Russia
6.1.10 Thailand
6.1.11 Vietnam
6.1.12 Others
6.2 Consumption Analysis (Market Size, Growth and Forecast)
6.2.1 Asia-Pacific
6.2.1.1 India
6.2.1.2 China
6.2.1.3 Japan
6.2.1.4 South Korea
6.2.1.5 Rest of Asia-Pacific
6.2.2 North America
6.2.2.1 United States
6.2.2.2 Canada
6.2.2.3 Mexico
6.2.2.4 Rest of North America
6.2.3 Europe
6.2.3.1 Germany
6.2.3.2 United Kingdom
6.2.3.3 France
6.2.3.4 Italy
6.2.3.5 Austria
6.2.3.6 Rest of Europe
6.2.4 South America
6.2.4.1 Brazil
6.2.4.2 Argentina
6.2.4.3 Rest of South America
6.2.5 Middle East & Africa
6.2.5.1 UAE
6.2.5.2 South Africa
6.2.5.3 Rest of Middle East & Africa
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
10. Disclaimer

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