Car rental continues to perform well as a result of increasing numbers of airline passengers and successful penetration of car rental companies in leading airports. An increasing number of long-term car rental companies which mainly focus on business car rental activities add short-term car rental services to their portfolios which also adds further dynamism to car rental. Additionally, increasing passenger preference for car rental due to the its practicality and convenience compared to other types of in-destination transportation continues to have a positive impact on car rental. Due to these growth-stimulating factors, car rental registered current value growth of 13% in 2017. Nevertheless, due to the decreasing number of incoming tourists as a result of the increasing frequency of terrorist attacks and political instability, compared to the entire review period current value CAGR of 14%, 2017’s performance remained weaker.
Over the forecast period, car rental is set to register a CAGR of 6% at constant 2017 prices. An expected increase in traveller preference for car rental, an increasing number of airline passengers, and an expected increase in incoming tourists are set to be the main determinants of its positive performance over the forecast period. Additionally, company-level investments in service improvement and diversification, fleet size extension and outlet penetration will also further boost the forecast period performance of car rental. Consequently, compared to the review period CAGR at constant 2017 prices, the forecast period performance is set to be slightly stronger.
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Understand the latest market trends and future growth opportunities for the Car Rental industry in Turkey with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Car Rental research and analysis database.
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