Car Rentals - Chad

Chad

Highlights

By 2024, it is projected that the Car Rentals market in Chad will reach a revenue of US$37.78m.
The market is anticipated to show an annual growth rate (CAGR 2024-2029) of 2.97%, leading to an estimated market volume of US$43.75m by 2029.
In line with this growth, it is expected that the number of users in this market will amount to 1.54m users by 2029, with a user penetration of 6.4% in 2024 and 7.0% by 2029.
Moreover, the average revenue per user (ARPU) is estimated to be US$31.53.
It is also predicted that by 2029, 49% of total revenue in the Car Rentals market will be generated through online sales.
When compared globally, United States is projected to generate the most revenue in this market, with an estimated revenue of US$32bn in 2024.
Despite the limited availability of car rental options in Chad, the few companies present offer reliable and affordable services for both locals and tourists.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Car Rentals market in Chad is experiencing significant growth and development, driven by various factors such as increasing tourism, growing business travel, and the need for convenient transportation options.

Customer preferences: Chadian customers have shown a preference for car rentals due to the flexibility and convenience they offer. Tourists visiting Chad often prefer to rent cars to explore the country's diverse landscapes and attractions at their own pace. Business travelers also opt for car rentals as it allows them to easily navigate the cities and attend meetings and events on time. Additionally, many Chadians prefer car rentals for special occasions such as weddings and family gatherings, as it provides them with a sense of luxury and comfort.

Trends in the market: One of the key trends in the car rentals market in Chad is the increasing demand for online booking platforms. Customers now have the option to easily compare prices, vehicle options, and book their rentals online, saving time and effort. This trend is driven by the growing internet penetration in Chad and the convenience it offers to customers. Car rental companies are also leveraging technology to improve their services, including GPS navigation systems, online payment options, and mobile applications for seamless customer experience. Another trend in the market is the emergence of eco-friendly car rental options. With growing awareness about environmental sustainability, customers are increasingly seeking car rental companies that offer electric or hybrid vehicles. This trend is driven by global efforts to reduce carbon emissions and promote sustainable transportation options. Car rental companies in Chad are responding to this trend by adding eco-friendly vehicles to their fleets, attracting environmentally conscious customers.

Local special circumstances: Chad is a landlocked country with diverse landscapes, including deserts, savannahs, and lakes. This geographical diversity presents unique challenges and opportunities for the car rentals market. Customers often require vehicles with off-road capabilities to navigate through rough terrains, especially in rural areas. Car rental companies in Chad are adapting to this demand by offering a variety of vehicles suitable for different terrains, including 4x4 SUVs and trucks.

Underlying macroeconomic factors: The car rentals market in Chad is influenced by various macroeconomic factors. Economic growth, stability, and increasing disposable income play a significant role in driving the demand for car rentals. As the economy grows, more people can afford to travel and explore the country, leading to increased demand for car rentals. Additionally, the stability of the political and security situation in Chad is crucial for attracting tourists and business travelers, which further boosts the car rentals market. In conclusion, the Car Rentals market in Chad is experiencing growth and development due to increasing tourism, growing business travel, and customer preferences for flexibility and convenience. The market is witnessing trends such as online booking platforms and eco-friendly options. Local special circumstances, such as diverse landscapes, require car rental companies to offer vehicles suitable for different terrains. The underlying macroeconomic factors, including economic growth and stability, also contribute to the market's development.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of car rental services.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.