PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1372080
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1372080
According to SPER Market Research, 'Indonesia Car Rental and Leasing Market Size- By Type, By Rental Duration Type, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2033' state that the Indonesia Car Rental and Leasing Market is predicted to reach USD 2.60 billion by 2033 with a CAGR of 16.31%
The car rental and leasing sector includes companies that rent or lease individual vehicles without drivers. A lease agreement or contract governs the leasing of vehicles or automobiles. A lease is a future performance contract between the lessor and the lessee. A written lease agreement must be signed by both the lessor and the lessee. Either an operating lease or a finance lease may be used to carry out the leasing arrangement.
The COVID-19 epidemic had an impact on the market because of its reliance on Indonesian tourism. As a result of the virus's spread, the industry saw a progressive decline in passenger and tourist traffic, which had an impact on the demand for automobile rental services. However, after the tourism sector entered its boom phase after 2021, there was a considerable demand for automobile rental services.