Leisure car rental is set to outperform business car rental over the forecast period. Although hindered by the rising popularity of ride-hailing and hourly car rental services, the growth of leisure car rental will be supported by steady demand from tourists from developed countries looking to venture into smaller cities and drive along the scenic routes in Borneo.
Car rental in Malaysia is facing various challenges. Strong competition within the category led to the exit of two players in 2018, while going forward it can expect to face more external threats, particularly the widening availability of alternative ground transport options such as trains, hotel shuttles and an improved public transportation network.
Over the forecast period, online intermediaries is expected to register the strongest growth of all booking channels within car rental. This will be mainly driven by the widening presence of online travel agencies (OTAs).
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This industry report originates from Passport, our Travel And Tourism market research database.