The Motor Vehicle Hiring industry languished over the past five years as travel spending tourism numbers slowed. Industry revenue is estimated to decline by an annualised 1.4% over the five years through 2012-13 to reach $3.11 billion. The global economic downturn is the primary reason for the industry's poor performance with demand for motor vehicle hiring collapsing during the crisis. Customers cut back on the travel expenses through either travelling less or choosing less convenient transport modes. Industry revenue is expected to growth at a much healthier 4.4% in 2012-13. Revenue is on the road to recovery as it benefits from growth in tourist trips.
Companies in this industry are involved in leasing, hiring or renting out motor vehicles without drivers.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.