Car Rentals - Mauritius

Mauritius

Highlights

Mauritius is projected to witness a significant growth in the Car Rentals market.
As per the estimates, the revenue in this market is anticipated to reach US$10.11m by 2024, with a CAGR of 2.46% during 2024-2029, resulting in a projected market volume of US$11.42m by 2029.
It is expected that the number of users in the Car Rentals market will reach 106.60k users by 2029, with a user penetration rate of 6.5% in 2024 and 8.2% by 2029.
The average revenue per user (ARPU) is projected to be US$118.70.
Additionally, it is expected that 60% of total revenue will be generated through online sales by 2029.
In comparison to other countries, United States is expected to generate the highest revenue in this market, with a projected revenue of US$32bn in 2024.
Mauritius' car rental market has seen a rise in demand from tourists due to the country's focus on promoting eco-friendly and sustainable tourism.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Car Rentals market in Mauritius has been experiencing significant growth in recent years, driven by various factors such as increasing tourism, changing customer preferences, and favorable local circumstances. Customer preferences in the Car Rentals market in Mauritius have been shifting towards more flexibility and convenience. Tourists and locals alike are increasingly opting for car rentals as a means of transportation, as it provides them with the freedom to explore the island at their own pace. Additionally, the rise of online booking platforms has made it easier for customers to compare prices and choose the most suitable car rental option for their needs. One of the key trends in the Car Rentals market in Mauritius is the growing demand for eco-friendly vehicles. As sustainability becomes a global concern, customers are seeking car rental companies that offer electric or hybrid vehicles. This trend is driven by both environmental consciousness and cost savings, as electric vehicles are more fuel-efficient and have lower maintenance costs. Car rental companies in Mauritius are responding to this trend by expanding their fleet of eco-friendly vehicles and promoting their environmental initiatives. Another trend in the Car Rentals market in Mauritius is the integration of technology. Car rental companies are leveraging technology to enhance the customer experience and streamline operations. For example, many companies now offer mobile apps that allow customers to easily book and manage their rentals, as well as access additional services such as GPS navigation and roadside assistance. Additionally, some car rental companies are exploring the use of advanced analytics and artificial intelligence to optimize fleet management and improve customer service. The local special circumstance that has contributed to the growth of the Car Rentals market in Mauritius is the island's status as a popular tourist destination. Mauritius attracts a large number of international visitors each year, who often prefer to rent a car to explore the island's diverse attractions. The government of Mauritius has also implemented policies to promote tourism, including the development of infrastructure and the simplification of visa processes, which has further boosted the demand for car rentals. Underlying macroeconomic factors, such as economic growth and increasing disposable income, have also played a role in the development of the Car Rentals market in Mauritius. As the economy expands and incomes rise, more people are able to afford car rentals as a convenient mode of transportation. Additionally, the growth of the tourism industry has created employment opportunities and contributed to the overall economic development of the country, further supporting the demand for car rentals. In conclusion, the Car Rentals market in Mauritius is experiencing growth due to changing customer preferences, including a shift towards eco-friendly vehicles and the integration of technology. The island's status as a popular tourist destination and favorable local circumstances have also contributed to the market's development. Additionally, underlying macroeconomic factors such as economic growth and increasing disposable income have supported the growth of the Car Rentals market in Mauritius.

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.