The report titled "UAE Car Rental and Leasing Market Forecast to 2020 - Demand from Work Expats and E-Bookings to Drive Growth" provides a comprehensive analysis of the Car Rental and Leasing Market in UAE. The report covers various aspects such as market size of UAE 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 for Car Rental. The report also provides insight vehicle leasing market in UAE, Dubai, Abu Dhabi and Northern Emirates including car leasing market size and segmentation by industry verticals, term of contracts and vehicle type for car leasing market. The report also entails the market share and strategies of the major players in the UAE car rental and leasing market along with the Government rules and regulations governing the market. An analysis of the future Car Rental Market of UAE is provided on the basis of revenue and fleet size over next five years.
The share of car rental in UAE is the second largest within the entire car rental market in Middle East region with a contribution of around ~% in overall revenues in 2015. Hertz Corporation, Thrifty, Europcar, Sixt and Avis Budget have been the leading players in the UAE car rental market with a combined market share of ~% in 2015. UAE car rental market has grown at a CAGR of ~%, over the period, 2010-2015 and increased to USD ~ million in 2015 from USD ~ million in 2010.
Initially car rental market in UAE was driven by on-airport car rental services but with the rise in the number of business men and working Emiratis there has been a rise in the number of number of long term car rentals in the country. The major operators in the industry have reduced car rental expenses, enhanced their fleet size and looked for opportunities in off-airport markets including insurance replacement, while others moved to enter into leisure segment of the market, which has been the possible growth driver of the industry.
The growth in the number of tourists in the country has been majorly due to expansion of Emirates airline's and Flydubai's fleet network. The growth in Dubai's cruise industry has helped by the opening of a third cruise terminal and better accessibility to Dubai. This has led to the rise in the number of tourist attractions in the country and had put forth a fleet size of ~ in 2014. Moreover, with an increase in the enterprises across UAE, the demand for car leasing has enhanced that has pushed the fleets in UAE to ~ during 2015.
UAE car rental market is majorly dependent on the air travel industry as most of the revenue is generated from the airport travelers, so any unrest in the air travel industry has a major impact on the car rental market in UAE. The on-airport segment constituted ~% of the total Chauffeur driven car rental revenue in 2015. It was observed that the on-airport market has witnessed an incursion of various tourists (majorly from U.K. and UAE), shoppers and businessmen.
Chauffeur driven car rental market in UAE has been dominated by rise in demand for online bookings that had held a share of ~% in 2015 whereas physical/ station bookings had occupied a share of ~% in 2015. Abu Dhabi and Dubai are one of the major business destinations of UAE therefore they contribute a major share to the revenues of UAE.
UAE car rental industry has been largely dominated by five major players including Hertz, Thrifty, Sixt, Europcar and Avis Hala. These players share nearly ~% of the total UAE car rental fleets in 2015. Hertz has captured the dominant share in the market for rented cars in UAE with a share of around ~% in 2015.
UAE has witnessed a surge in the numbers of jobs and working expats in the country that has led to the rise in the number of car renters. In order to cater to the rise in the demand of car renters in the country majority of the car rental firms in UAE have enhanced their fleet size. Projection for the future suggests that the market for car rental is expected to witness promising growth, with their fleet size is expected to mount at ~ cars by 2016. During the period 2016-2020, the fleet sizes are expected to incline at a CAGR of ~%, while the fleet size is expected to be mounted at ~ cars by 2020.
Key Topics Covered in the Report:
1. Executive Summary
Figure 3-1: UAE Car Rental Market Size on the basis of Revenue in USD Million, 2010-2015
Table 2-1: Correlation Matrix of UAE Car Rental Market
Budget, Thrifty, Avis, Hertz, Sixt, Europcar, Diamond Lease, Auto Rent, Patriot Rent a Car, Super Price Rent a Car
Car Leasing, Short Term Car Rental, Chauffeur Driven Car Rental
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