The report
titled “Costa Rica Car Rental, Leasing, Cab Aggregator and Red Taxi Market
Outlook to 2023 –Driven by Inbound and Domestic Tourist Arrivals and
Integration of Electric Vehicles in Current Fleet”
provides a comprehensive analysis on the Car Rental, leasing, cab aggregator,
red tax segments’ Business Models, Competition Scenario, market share of major
players, segmentation, Regulatory Environment, Trends and Developments, Issues
and Challenges. The report concludes with market projection and analyst
recommendations highlighting the major opportunities and cautions.
Costa
Rica Car Rental Market
Costa Rica Car
Rental industry revenue has grown at a positive CAGR during the period
2012-2018. This growth was supported by the increase in the number of internet
users, rising urban population, government initiatives to promote sustainable
tourism and rise in the disposable income. The market faces challenge from the
local transportation available in the country, consistent crimes and conditions
of the roads.
The car
rental market is concentrated among few players such as Adobe Rent A Car,
National car Rental, enterprise Car Rental, Alamo Car rental and Budget Car
Rental. SUV/AUV cars contributed the most to the overall car rental market in
Costa Rica in the year 2018. The segment has grown due to large seating and
boot space which facilitates in group travels, sturdiness and comfort and
easier to maneuver on tough roads. On the other hand, Economy and Premium
accounted for a limited share in car rental market. Car rental for leisure
purpose contributed a major share in terms of generating revenues for the
industry in 2018. Rented cars are majorly demanded by tourists who visit the
country for holidays or recreational purpose. Car rental for business purpose
contributed second highest revenue share; whereas insurance replacement
accounted for a small share in the overall car rental market revenues in
2018.San Jose contributed the highest revenue share in the overall car rental
market in Costa Rica in the year 2018 due to large population and diverse
tourist attractions. This was followed by Heredia, Liberia, Puerto Limon and
other regions.
In the
future, it is anticipated that Costa Rica car rental industry revenue will
increase at a positive CAGR during the period 2018–2023E. In Costa Rica, it is
expected that the demand for rented cars will be further augmented by growth in
the tourism, supported by the government initiatives to promote it and
improvement in transportation infrastructure.
Costa
Rica Cab Aggregator Market
Costa Rica
Cab Aggregator market is at the declining stage. Costa Rica Car Rental market
revenue has increased at a positive CAGR during the period 2012-2018. This
growth was supported by the factors such as, lesser fare charges as compared to
local taxis, professional service offered by the cab drivers, convenience
experienced by customers while booking cabs and regulated prices.
The market
faces opposition from the local taxi drivers in the country, pleading the
government to ban the cab services owing to the negative impact it had on local
taxi driver’s livelihood. Uber has a monopoly in the Cab Aggregator Market. San
Jose contributed the highest revenue share in the year 2018. This was followed
by Heredia, Liberia, Puerto Limon and other regions. The maximum number of Uber
cabs is mainly in San Jose due to the presence of International Airport which
results in higher on-airport revenue.. In future, it is anticipated that Costa
Rica Cab Aggregator market will shut down after the Costa Rican Supreme Court
declared the market to be illegal and the government has asked all the cab
aggregator companies to halt their operations.
Costa
Rica Car Leasing Market
Costa Rica
Car Leasing market is at the growing stage. The growth was supported by the
demand by legal entities, provision of GAP coverage by leasing companies, no
maintenance responsibility, 100.0% tax deductible and wide range of car model
options available. The market faces challenge from increasing price
transparency owing to the advancement in technology, companies engaging in
price wars and car leasing companies facing problems while reselling the used
vehicles. The car leasing market is concentrated among few players including
Adobe Rent a Car, National Rent A Car, Budget Rent A Car and Poas Rent A Car.
SUV/AUV cars dominated the car leasing industry revenue in Costa Rica. Two year
lease period is usually preferred in car leasing segment.. The segment is
majorly preferred as this option is widely offered by most of the companies,
the client does not have bear the cost of finding a new vendor each year and
ability to upgrade to newer models. On the other hand, one year and third year
lease duration accounted for the remaining revenue share in car leasing market.
In Costa
Rica, it is expected that the demand for leased cars will be further augmented
largely due to the cultural habit of local people of the country to experience
newer car models, higher expat ratio and introduction of electric vehicles in
the country.
Key
Segments Covered:-
Car
Rental Market
Type
of Car
SUV/AUV
Economy
Premium
Purpose
of Hire
Leisure
Business
Insurance
Replacement
Region
San Jose
Heredia
Liberia
Puerto Limon
Others
Cab
Aggregator Market
Region
San Jose
Heredia
Liberia
Puerto Limon
Others
Car
Leasing Market
Type
of Car
SUV/AUV
Economy
Duration
of Lease
First Year
Second Year
Third Year
and More
Red
Taxi - Fleet Size, Number of Drivers
Motorcycle
Rental – Fleet Size and Major Players
Key
Target Audience
Car Rental
Companies
Cab
Aggregator Companies
Car Leasing
Companies
Automobile
Companies
Tourism
Companies
Corporate
Sector
Hospitality
Sector
Time
Period Captured in the Report:-
Historical
Period: 2013-2018
Forecast
Period: 2018-2023E
Companies
Covered:-
Adobe Rent a
Car
National Car
Rental
Enterprise
Car Rental
Alamo Car
Rental
Budget Car
Rental/Centriz
Dollar Rent a
Car
Thrifty Car
Rental
Vamos Rent a
Car
Toyota Car
Rental
Solid Car
Rental
Europcar
Rental
Hertz Rent a
Car
Economy Rent
a Car
Sixt Rent a
Car
Poas Car
Rental
Avanti Car
Rental
Mapache Rent
a Car
Avis Car
Rental
T.T Tricolor
Car Rental
Wild Rider
Fast Rent a
Car
Key
Topic Covered:-
Costa Rica
Self Drive Car Rental Industry
Car Leasing
Market Costa Rica
Cab
Aggregator Market Costa Rica
Costa Rica
Red Taxi Industry
Costa Rica
Red Taxi Market
Costa Rica
Motorcycle Rental Market
Major
Companies in Costa Rica Car Rental
Costa Rica
Car Rental Competition Scenario
Costa Rica
Cab Aggregator Market
For More Information, Refer To Below Link:-
Related Reports:-
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