Saudi Arabia Car Rental And Leasing Market Projections to 2020 - Religious Tourism and Short Term Car Rental to Stimulate Growth” provides a comprehensive analysis of the Car Rental and Leasing Market in Saudi Arabia. The report covers various aspects such as market size of Saudi Arabia car rental and leasing market on basis of revenues and fleet size, segmentation on the basis of Car Leasing, short term car rental and chauffeur driven car rental, on airport and off airport, regions, mode of booking, purpose of booking, and organizational structure. The report provides insights on car leasing market size and segmentation by industry verticals, term of contracts and vehicle type for car leasing market in Saudi Arabia. The report also entails the market share and strategies of the major players in the Saudi Arabia car rental and leasing market along with the Government rules and regulations governing the market. An analysis of the future of car rental market of Saudi Arabia is provided on the basis of revenue and fleet size over next five years.
Saudi Arabia is one of the largest pilgrimage places in the Middle East region. The country has holy places such as Mecca and Medina that witnesses vast influx of tourist during Eid Al-Fitr and Eid Al-Adha festivals. The incline in rental fleets since 2010 has been majorly due to increase in competition among rental players with respect to pricing and quality which in turn has also led to the enhancement in the fleet size in the country. The car rental fleets in Saudi Arabia has featured a CAGR of ~% over the period 2010-2015. During 2015, phenomenal growth in inbound tourism alleged with surge in car fleet by major companies has led the fleet size to enhance to ~ by 2015.
Saudi Arabia car rental and leasing market has observed a surge in revenues which were positioned at USD ~ million, which grew at a rate of ~%. The expected growth rests on a number of factors, including population growth, growing numbers of pilgrims, Umrah performers and visiting businessmen coupled with the developmental plans experienced by the Kingdom in oil and non-oil sectors.
During 2015, car leasing has dominated the overall car rental market with the revenues share being accounted at ~% in 2015. Short term car rental which has been mainly defined as the car rental service which tends to be lower than 1 year have accounted for a revenues share of ~% in 2015. Chauffeur driven car has been the segment in Saudi Arabia car rental and leasing market that has showcased declining growth, with revenues share being posted at ~% in 2015.
The contribution of online booking in the chauffeur driven car rental market revenue in Saudi Arabia was ~% in 2015 which has enhanced at a steady pace in the past few years. The demand for car rentals for business purposes contributed a share of ~% in Saudi Arabia car rental and leasing market revenue in 2015. Business travel car rental market has maintained its share in the Saudi Arabia car rental and leasing market majorly due to the rise in the number of corporate establishments and business dealings in the country.
Mecca is one of the most popular car rental cities in the country that withheld a share of ~% in 2015. Car rental firms had generated revenues worth USD ~ million in 2015. Riyadh, the capital city is the second most popular car rental city with a share of ~% in 2015. The city has one of the largest international and domestic airports in the Middle East region.
The market has been dominated by the organized players which operate at the large scale in domestic as well as global market. The unorganized players also have the descent share. The lower lease prices charged by these players and unawareness among the tourists regarding the major car rental companies has maintained the presence of these companies.
Saudi Arabia car rental and leasing market is one of the mature markets in the Middle East region with a consistent and steady growth rate. The market is driven by competitive pricing (in terms of profit margins), introduction of innovation technology by organized players and increased investment in luxury cars to cater the demands of their customers. Projection for the future suggests that the market for car rental is expected to witness promising growth with revenues expected to mount to USD ~ million by 2020. During the period 2015-2020, the revenues are expected to incline at a CAGR of ~% while the fleet size will grow at a CAGR of ~% to mount to around ~ cars by 2020.
Key Topics Covered in the Report
• The market size of the Saudi Arabia car rental and leasing market on the basis of Revenue and Fleet Size, 2010-2015
• Market segmentation of Saudi Arabia car rental and leasing market by Business Segment, 2010-2015
• Market segmentation of Saudi Arabia car rental and leasing market by Chauffeur driven on-airport or off-airport, 2015
• Market segmentation of Saudi Arabia car rental and leasing market by Booking method, 2015
• Market segmentation of Saudi Arabia car rental and leasing market by Car Trips, 2015
• Market segmentation of Saudi Arabia car rental and leasing market by Major Cities, 2015
• Market segmentation of Saudi Arabia car rental and leasing market by Organized/Unorganized, 2015
• Market segmentation of Saudi Arabia Car Leasing Market by Industry Verticals, 2015
• Market segmentation of Saudi Arabia Car Leasing Market by Contract Term, 2015
• Market segmentation of Saudi Arabia Car Leasing Market by Car Type, 2015
• Trends and Developments in Saudi Arabia car rental and leasing market
• Government Regulations in Saudi Arabia car rental and leasing market
• Traveler’s Profile by age and gender in Saudi Arabia car rental and leasing market
• Competitive Landscape of Major Players in Saudi Arabia car rental and leasing market
• Market Share of Major Players in Saudi Arabia car rental and leasing market, 2015
• Future Outlook of Saudi Arabia car rental and leasing market, 2016-2020
Source: https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/saudi-arabia-vehicle-leasing-market/42896-100.html
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Ken Research
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