Kuwait Vehicle Leasing Market Outlook to 2023- Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit The report titled “Kuwait Vehicle Leasing Market Outlook to 2023 – By Vehicle Type (SUV/MUV, Sedan, Pickups and Luxury Segment) and By End Users (Oil & Gas, Government, Construction, Logistics and Transportation, Telecom and Electrical and Others)” provides a comprehensive analysis of the long term vehicle leasing market in Kuwait. The report covers market size of Kuwait long term vehicle leasing market in terms of revenue and fleet size, segmentation on the basis of end users (Oil & Gas sector, Government sector, Construction, Logistics and Transportation and others), by regions (Southern, Central, Northern region), by type of vendor (Vehicle dealer and Vehicle leaser), by Duration of lease (One year, two years, three years and four year and above) on the basis of fleet size. The report also covers car leasing eco-system from demand side and supply side, trends and developments, regulatory scenario and a case study on ‘Automak’ company and its success factors and key operation metrics. Competitive landscape of the industry and comprehensive profile of leading players (Automak, Aayan Auto, Al Sayer, Al Mulla, Sefeena, KGL, Autolease and others), Market share of major players in the market, competition success factor have been covered in the report. The report also cover future outlook by revenue, fleet size and weighted average pricing of vehicle leasing services annually, future segmentation by regions and by end user along with vendor type and analyst recommendations. Kuwait Long Term Vehicle Leasing Market During the period 2013-2018, Kuwait vehicle leasing market grew at a positive growth rate. There were several factors that influenced the growth such as growth of end user industries, increase in number of new establishments, focus on non-oil sector end users and other factors. The growth in non-oil sector/industries and stable construction projects in the country positively influenced the vehicle leasing market to a large extent. The industry witnessed overall increase in fleet size owing to growing competition, increasing demand and increasing market penetration across various regions in the country. Increasing competition in the market has raised the quality of services offered by vehicle leasing companies in the country, which has attracted more number of customers to gradually avail the services for their mobility needs. The reviving oil prices will act as a stimulant to the growth of vehicle leasing, as the revival in oil prices would reverse the cost cutting measures taken by the oil and gas companies in the years 2014-2016. Kuwait Long Term Vehicle Leasing Market Segmentation By Type of Vehicle: As of 2018, the luxury vehicle segment accounted for the least share in terms of fleet size. These vehicles are expensive and have a niche market. The SUV/MUV segment contributed about the highest in terms of revenue, owing to the Kuwait government’s preference for an SUV in their fleet due to ease in travel while in off roads locations and availability of different variants such as 4 cylinder, 6 cylinder, 8 cylinder. The Sedan segment contributed highest share in terms of fleet size and second highest in terms of the market revenue as of 2018. These vehicles were majorly used for employee mobility, the sedan is an evergreen segment used by corporate and individuals, and lastly, the Pickup segment also showed significant growth in the market. The demand for this segment has been on the rise and these types of vehicles are designed for cargo transportation which is being used by the logistics and construction sector in Kuwait. By Regions: Kuwait is divided into 3 regions namely Northern, Central, and Southern. In 2018, Southern region accounted for highest share in terms of fleet size due to presence of oil and construction industries. Central region also accounted for a significant share in the total fleet size, owing to presence of various branches, headquarters of companies in the region and as well as presence of residential areas in the region. By End Users: Oil and Gas have accounted for highest share in the total fleet demand mainly because the country’s economy depends on oil, and it is the largest spending sector on vehicle leasing for the purpose of employee mobility. The government and military sector that includes the ministries of Kuwait such as ministry of public works, ministry of education have also increased the demand for vehicle leasing. The construction sector also constituted a significant share and use vehicles meant for transportation of employees and cargo. Others include individuals and other industries which accounted for a small share in the market in terms of fleet in the Kuwait vehicle leasing market. By Type of Vendor: In 2018, the vehicle leasing companies had captured the majority of the market share due to their willingness and ability to lease, service, maintain, and repair the vehicles from various brands. The automotive dealers lag behind the core vehicle leasing companies in terms of fleet size as of 2018. By Duration: Three year lease duration has been the most popular as the lease prices are low and the vehicle leasing companies also prefers to lease vehicles for this duration, as it is difficult to sell the vehicle after it has been in use for 4 years or longer. Competition in Kuwait Vehicle Leasing Market The competition in Kuwait has intensified over the years, with new vehicle leasing companies entering the market and with the increase in price transparency in the industry, the lease/contract prices of companies have decreased causing the profit margins to decrease as well. Furthermore, the competition landscape has changed from the time when two companies namely Al-Sayer, (an exclusive dealer of Toyota) and Al Mulla had the majority of the market share. Additionally, with the emergence of companies such as Automak, Autolease (KAICO), and Aayan Auto, the competition evolved to being competitive pricing strategy with core focus on consumer satisfaction by providing value added services. Besides the price factor, consumers are giving utmost importance to services such as vehicle portfolio/variants, routine service and maintenance facility of the vehicle, road side assistance, comprehensive insurance, and replacement vehicle, if necessary. Future Outlook of Kuwait Vehicle Leasing Market Kuwait vehicle leasing market is projected to increase significantly in the forecasted period, 2018-2023. The average lease price is expected to decrease in the country with rising competitive rivalry. The profit margins of the vehicle leasing companies are expected to decrease over the next 5 years due to companies further engaging in price war strategy. The SUV/MUV segment will see an increase in their share of fleet over the forecasted period, 2018-2023 due to the increase in customer preference owing to benefits such as vehicles functionality for off road driving, strong built and room for more passengers or cargo. Northern region will witness high growth rate as the government of Kuwait plans to develop the region further in terms of infrastructure and economic activities and also encourage establishment of new businesses and attracting foreign investments in the region. Key Segments Covered By Type of Fleet: SUV/MUV Sedan Luxury Segment Pickups By End User Sectors: Oil and Gas Government Construction Logistics and Transportation Others (FMCG, ITES, Telecom, Financial Institutions, Healthcare, Individuals and related industries) By Type of Vendors: Vehicle Dealer Vehicle Leaser By Type of Regions Southern Region Northern Region Central Region Key Target Audience Vehicle Leasing Companies Vehicle Dealers Car Rental Companies Government Bodies Industry Associations Venture Capitalist/Investors Time Period Captured in the Report: 2013-2018 – Historical Period 2018-2023 – Future Forecast Companies Covered: Automak, Aayan Auto, Al Sayer, Al Mulla, Sefeena, KGL, Autolease, Rasameel Autolease, Hertz, Apatchi Osoulhouse, Apatchi, Autolease, Mutawa Alkazi Company, Automall Vehicle Rental, Value Plus, Mustafa Karam Co and Others Keywords:- Car Leasing Market In Kuwait Car Leasing Industry In Kuwait Kuwait Car Leasing Business Kuwait Car Leasing Market Analysis Kuwait Car Leasing Market Growth Kuwait Car Leasing Companies Vehicle Leasing Market In Kuwait Vehicle Leasing Industry In Kuwait Kuwait Vehicle Leasing Business Kuwait Vehicle Leasing Companies Kuwait Vehicle Leasing Market Analysis Kuwait Vehicle Leasing Market Growth Car Rental Industry Kuwait Pricing Vehicle Leasing In Kuwait Vehicle Leasing Industry Revenue Kuwait Long Term Car Leasing Market In Kuwait Long Term Car Leasing Fleet Size In Kuwait Kuwait Vehicle Leasing Market Size Major Players In Kuwait Car Leasing Market Car Rental/Leasing Companies In Kuwait Kuwait Car Rental Leasing Future Growth Sefeena Revenue Car Leasing In Kuwait Future Kuwait Car Rental/Leasing Trends In Car Rental/Leasing Market In Kuwait For more information on the research report, refer to below link:- https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/kuwait-vehicle-leasing-market/175021-100.html Related Reports:- https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/vietnam-car-rental-market/137557-100.html https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/thailand-car-rental-market/137098-100.html https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/indonesia-car-rental-market/136319-100.html Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications support@kenresearch.com +91-9015378249 Tags: Al Mullah Group Kuwait Car Leasing Market Share, Al Mullah Group Kuwait Car Rentals Market Share, Automak Car Rental Leasing Market Share In Kuwait, Automak Highest Share Car Rental/Leasing Kuwait, Car Leasing Industry In Kuwait, Car Leasing Market In Kuwait, Car Rental Industry Kuwait, Car Rental/Leasing Companies In Kuwait, Competition In Kuwait Car Rental/Leasing Market, Future Kuwait Car Rental/Leasing, Future Outlook Of Car Leasing Market In Kuwait, Industry Research Report For Kuwait Car Leasing Market, Industry Research Report For Kuwait Vehicle Leasing Market, KGL Kuwait Car Rentals/Leasing Market Share, Kuwait Car Leasing Business, Kuwait Car Leasing Companies, Kuwait Car Leasing Industry Research Report, Kuwait Car Leasing Market Analysis, Kuwait Car Leasing Market Growth, Kuwait Car Leasing Market Research Report, Kuwait Car Rental Leasing Future Growth, Kuwait Vehicle Leasing Business, Kuwait Vehicle Leasing Companies, Kuwait Vehicle Leasing Industry Research Report, Kuwait Vehicle Leasing Market, Kuwait Vehicle Leasing Market Analysis, Kuwait Vehicle Leasing Market Application, Kuwait Vehicle Leasing Market Forecast, Kuwait Vehicle Leasing Market Future Outlook, Kuwait Vehicle Leasing Market Growth, Kuwait Vehicle Leasing Market Key Players, Kuwait Vehicle Leasing Market Overview, Kuwait Vehicle Leasing Market Research Report, Kuwait Vehicle Leasing Market Revenue, Kuwait Vehicle Leasing Market Scope, Kuwait Vehicle Leasing Market Segmentation, Kuwait Vehicle Leasing Market Share, Kuwait Vehicle Leasing Market Size, Kuwait Vehicle Leasing Market Trends, Kuwait Vehicle Leasing Market Value, Long Term Car Leasing Fleet Size In Kuwait, Long Term Car Leasing Market In Kuwait, Major Companies In Car Leasing Market In Kuwait, Major Players In Kuwait Car Leasing Market, Market Research Report For Kuwait Car Leasing Market, Market Research Report For Kuwait Vehicle Leasing Market, Market Share Of Car Rental/Vehicle Leasing Companies Kuwait, Pricing Vehicle Leasing In Kuwait, Sefeena Revenue Car Leasing In Kuwait, Trends In Car Rental/Leasing Market In Kuwait, Vehicle Leasing Industry In Kuwait, Vehicle Leasing Industry Revenue Kuwait, Vehicle Leasing Market In Kuwait