Car Rental Market – Japan
Market Statistics
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Size in 2023: USD 2.6 Million
Market Size in 2032: USD 5.5 Million
Market Growth Rate (CAGR) 2024-2032: 8.43%
According to the IMARC Group, the Japan car rental market size reached USD 2.6 million in 2023. Looking forward, IMARC Group expects the market to reach USD 5.5 million by 2032, exhibiting a growth rate (CAGR) of 8.43% during 2024-2032. This market is expanding due to rising tourism, increasing domestic travel, urban mobility trends, demand for flexible transport solutions, and advancements in rental technology and services.
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Japan Car Rental Market Trends and Drivers:
Domestic Tourism Growth:
- Increased domestic travel boosts demand for rental cars, particularly in rural and scenic areas less accessible by public transport.
- Government initiatives promoting regional tourism and improving accessibility in rural areas enhance the market.
- Expansion of rental locations at key transit hubs like airports and train stations.
Shift in Consumer Behavior Towards Vehicle Ownership:
- Urban residents are increasingly opting not to own cars due to the extensive public transportation system.
- Rental services offer flexibility without long-term costs of maintenance and parking.
Digital Transformation in Car Rentals:
- Rental companies are investing in mobile apps and online platforms for seamless booking, vehicle selection, and contactless transactions.
- Integration of advanced technologies such as GPS and real-time traffic information enhances the user experience.
Adoption of Environmentally Friendly Practices:
- Growing inclusion of eco-friendly vehicles like hybrids and electric cars in rental fleets aligns with Japan’s environmental goals.
- Sustainability-conscious customers are increasingly attracted to such options.
Popularity of Car-Sharing Models:
- Short-term rental models are gaining traction in densely populated urban areas.
- Ideal for residents needing cars for brief periods.
Market Outlook
- A move towards sustainable, digital, and flexible rental solutions is expected to shape the market.
- Advancing consumer preferences and environmental priorities will continue driving innovation and growth.
Japan Car Rental Market Report Segmentation:
The report has segmented the market into the following categories:
Breakup By Booking Type:
- Offline Booking
- Online Booking
Breakup By Rental Length:
- Short Term
- Long Term
Breakup By Vehicle Type:
- Luxury
- Executive
- Economy
- SUVs
- Others
Breakup By Application:
- Leisure/Tourism
- Business
Breakup By End-User:
- Self-Driven
- Chauffeur-Driven
Breakup By Region:
- Kanto Region
- Kinki Region
- Central/ Chubu Region
- Kyushu-Okinawa Region
- Tohoku Region
- Chugoku Region
- Hokkaido Region
- Shikoku Region
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Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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