Kuwait Vehicle Leasing Market Outlook to 2026F
Driven by burgeoning youth population, government projects and innovative products in the market
November 2022
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About the Report
About the Report
The report provides a comprehensive analysis of the potential of Vehicle leasing industry in Kuwait. The report covers an overview and genesis of the industry, market size in terms of fleet Size.
Its market segmentations include by types of Business line, by type of Vehicle, by Type of vendor, by End-User and by Duration; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.
Market Overview:
According to Ken Research estimates, the Kuwait vehicle Leasing Market expanded at a CAGR of 17% in between 2016 and 2022 on the basis of revenue generated. The market faced rapid growth in the year of 2020 owing to Covid and reflected high growth in 2022 too but the growth is expected to normalize in the coming years. Kuwait Vehicle Leasing Market is estimated to grow at a positive CAGR of 11% in between 2022E and 2026F.
- In Kuwait, the inflow of expatriates rose continuously over the past several years, and now they almost account for majority of the total Kuwaiti population.
- In Kuwait, especially the millennials who lease vehicles prefer to change their vehicle in every 2-3 years so to drive a newer model.
Key Trends by Market Segment:
By Duration: Almost all of the corporations and governments take vehicles on lease for duration of 3 years due to the cost involved in finding a new vendor and this is the most economical way.
By Type of Vendor: Vehicle Dealers dominate the market in 2021 as compared to vehicle leasers and is expected that this trend will continue in the future, owning more than half of the market share in 2026F, this is due to aggressive marketing strategies followed by the companies.
Competitive Landscape
Future Outlook
The Kuwait Vehicle Leasing Market witnessed significant growth during the period 2016-2021, owing to change in millennials preference, increased inflow of expatriates, lower buying and maintaining cost and increased demand for SUV and Pickup trucks.
Growth rate of total cars leased is going to increase over the period as financing becomes easier, market penetration rates increase.
Scope Of The Report
Scope of the Report
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By Business Line |
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By Type of Vehicle |
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By Type of Vendor |
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By End User |
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By Duration |
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Products
Products
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Individuals
- Online Cab Aggregators
- Car rental Companies
- Taxi Companies
- End User Industries
- Vehicle Leasers
- Car Dealers
- Financial Institution
- Government
- Vehicle Manufacturer & Distributors
Time Period Captured in the Report
- Historical Period: 2016-2021
- Base Period: 2022
- Forecast Period: 2022-2026F
Companies
Major Players Mentioned in the Report
- Al Babtain Co
- Mustafa Karam Co
- Al Zayani Automotive
- KGL Car Rental
- Mutawa Alkazi
- Al Sayer Leasing
- Value Plus
- Al Mulla
- KFH Auto
- Autolease
- Ali Alghanim Sons & MAKFM Automotive
- Safeena
- Hertz
- Apatchi
- Aayan Auto
- Osoulhouse
- Automak
- Behbehani Motors
- Automall Car Rental
- Priority Automobiles
- Al Mishraq
- Wakalah Auto
- Auto Capital
- Smart Auto
- Nissan Kuwait
Table of Contents
Table of Contents
1. Executive Summary
2. Country Overview - Kuwait
3. Kuwait Vehicle Leasing Market Overview
4. Market Size of Kuwait Vehicle Leasing Industry
5. Kuwait Vehicle Leasing Industry Segmentation, 2021
6. Industry Analysis
7. End-User Analysis in Kuwait Vehicle Leasing Industry, 2021
8. Competitive Landscape in Kuwait Vehicle Leasing Industry
9. Future Outlook and Projections of the Kuwait Vehicle Leasing Industry, 2021-2026F
10. Analyst Recommendations
11. Industry Speaks
12. Research Methodology
Disclaimer
Contact Us
Research Methodology
Research Methodology
Frequently Asked Questions
Frequently Asked Questions
What is the Study Period of this Market Report?
The Kuwait Vehicle Leasing Market is covered from 2016–2026 in this report, including a forecast for 2022F-2026F.
What is the Future Growth Rate of the Kuwait Vehicle Leasing Market?
The Kuwait Vehicle Leasing Market is expected to witness a CAGR of ~11% over the next five years.
What are the Key Factors Driving the Kuwait Vehicle Leasing Market?
Increased inflow of expatriates, low maintenance cost, growing demand for EV are likely to fuel the growth in the Kuwait Vehicle Leasing market.
Which is the Largest Car Type Segment within the Kuwait Vehicle Leasing Market?
The sedan car type segment held the largest share of the Kuwait Vehicle Leasing Market in 2021.
Who are the Key Players in the Kuwait Vehicle Leasing Market?
Automak, Aayan Auto and Auto capital are the major player in Kuwait Vehicle Leasing market.
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