Analysis of Car Rental and Leasing Market in Saudi Arabia by rental type (Chauffeur Drive, Self-Driving, Business Rental, Special Events), By Services Type, By Vehicles Type & By Mode of Booking -Forecast to 2025

Saudi Arabia Car Rental & Leasing Market Outlook, 2017-2025

Market Overview

Car rental and leasing industry in the Saudi Arab is secured closely to commercial benefits. Since departing the recession, service industries in the region benefitted from an arrival of emigrant workers to satisfy the building boom. In spite of high car ownership in Saudi Arabia, the car rental & leasing industry is majorly driven by leisure tourism, including religious (Hajj and Umrah) and business tourism. Saudi Arabia’s tourism sector has witnessed strong growth in the past few years. A number of buyers are also favoring renting/leasing a car rather than possessing one. As a result, more interest is expected from car rental companies to increase their fleet of vehicles. The philosophy of Uber and the likes have also transformed the way people look at owning a car. Moreover, tourist arrivals in the GCC are estimated to grow at a CAGR of 5.7% during 2017-2025, thus augmenting the growth of car rental and travel firms business in the Saudi Arabia. Moreover, many Companies are offering a diverse range of services including long term leasing and investing significant amount of capitals in order to expand their business in the country. 

Saudi Arabia Car Rental & Leasing Market Segmentation

By Rental Type

• Chauffeur Drive
• Special Events
• Self-Driving
• Business Rental

By Services Type

• Interstate Services
• Intrastate Services
• Airport Transfers

By Vehicles Type

• Luxury Cars
• Executive Cars
• Economy Cars
• Sports Utility Vehicles
• Multi Utility Vehicles

By Mode of Booking

• Online Bookings
  • App-based car rental services
  • Telephonic car rental services
  • Web-Based Car Rental Services
• Offline Bookings

Market Size & Forecast to 2025

Goldstein Research analyst forecast Saudi Arabia car rental & leasing market to grow at a CAGR of 5.5% over the forecast period as investments by the new and existing market players in the region is expected to upsurge in coming years to cater the huge demand for rented transportation in the region.

Based on the rental type chauffeur drive or taxi services acquired the largest share of more than 38% share in Saudi Arabia car rental and leasing market. On the other hand, self-driving segment is likely to be the fastest growing segment, which is expected to grow at a CAGR of 8.6% over the forecast period.

Covered In this Saudi Arabia Car Rental & Leasing Market Report          

The report covers the present ground scenario and the future growth prospects of the car rental & leasing market in Saudi Arabia for 2017-2025 along with the market players’ analysis. We calculated the market size and revenue share on the basis of revenue generated from major players in all major regions. Saudi Arabia car rental & leasing market is forecasted on the basis of revenue analysis, product benchmarking and strategic developments of key market players.

Saudi Arabia Car Rental & Leasing Market Outlook 2017-2025, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the Saudi Arabia car rental & leasing market space. The report also includes porter’s five force model, SWOT analysis, corporate profiling, business strategies of market players and their business models. “Saudi Arabia Car Rental & Leasing Market Report” also recognizes value chain analysis to understand the cost differentiation, pricing models to provide competitive advantage to the existing and new entry players.

Key Market Players

Our Saudi Arabia Car Rental & Leasing Market Report comprises of the following companies as the key players.

•  Hertz Corporation
•  Sixt
•  Avis Corporation Regency
•  Strong car rental
•  Auto rent
•  Market Rent- A- Car
•  Al- Mulla
•  Fast Rent A Car
•  City Car
•  Al Sayer and Europcar.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Key questions answered in this research report

• What is the total market size by 2025 and what would be the expected growth rate of market?
• What is the total revenue per segment and region in 2016-17 and what would be the expected revenue per segment and region over the forecast period?
• What are the key market trends?
• What are the factors which are driving this market?
• What are the major barriers to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities for the existing and entry level players?
• What are the recent developments and business strategy of the key players?

Reasons to buy this market study

• Facilitate decision-making based on strong historic and forecast data for car rental & leasing market
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• Position yourself to gain the maximum advantage of the car rental & leasing market’s growth potential
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• Respond to your competitors’ business structure, strategy and prospects