Kuwait Vehicle Leasing Market Research Report: 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 How Kuwait Vehicle Leasing Market is Positioned? The vehicle leasing business in Kuwait was started in 1970’s by Al Sayer in a small room of the Kuwait Sheraton Hotel to cater to the requirements of the people for the need of transportation, and then by Al Mulla group in 1976. Over the years, the Kuwait vehicle leasing market has evolved with changing market/economic conditions, entry of new players such as Sefeena in 1989, Aayan in 1999, and Automak and KGL in 2002. Today, the market is highly competitive with companies competing with each other to increase their market share. The lease prices of all companies are in line with one another and if a company introduces any new service, it is swiftly replicated by the rest of the companies in the market. The market share in terms of fleet and revenue is concentrated with few major companies such as Automak, Aayan Auto, Al Sayer, Al Mulla, KGL and Sefeena. The market size was estimated at USD ~ million in 2013 which grew to USD ~ million in 2018 at a CAGR of ~%. The market has not experienced any major deviations, considering the decrease in oil prices that started in 2014 and the revival of oil prices that began in 2016. The Kuwait National Development Plan has been the major reason that the market did not fall. The plan is aimed to develop the country in all aspects such as economical, social, and infrastructural. That required massive spending for construction and expansion. This plan acted as a catalyst for growth in the vehicle leasing market. Kuwait Vehicle Leasing Market Segmentation By Vendor Type This segmentation focuses on share of market on the basis of fleet size by companies whose primary operations are from vehicle leasing and vehicle selling. As of 2018, the vehicle leasing companies had captured the majority of the market share of about ~% due to their willingness and ability to lease, service, maintain, and repair the vehicles from various brands. The vehicle dealing companies have a market share of ~% in terms of fleet as of 2018. By End User Oil and Gas have accounted for about ~% of the fleet demand mainly because the country’s economy depends on oil, and it is the largest sector in the country which spends a lot on vehicle leasing for the purpose of employee mobility. The government and military sector that included the ministries of Kuwait such as ministry of public works, ministry of education, accounted for ~% of the overall market in terms of fleet as of 2018. The construction sector constituted for about ~% of the demand and used vehicles meant for transportation of employees and cargo. By Geographical Regions Kuwait is divided into 3 regions namely Northern, Central, and Southern. In 2018, Southern region accounted for about ~% in terms of fleet size due to presence of oil and construction industries. Central region accounted for about ~% of the 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, and the remaining ~% of the fleet was accounted in Northern region. By Duration As of 2018, the vehicles in Kuwait are leased for different periods such as, for one year lease which contributed around ~% in the overall market in terms of fleet size, two year lease which contributed ~% share in the market. The lease prices as of 2018 were considerably higher for one year and two year lease period as compared to a three year lease, hence their share in the market is low. 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. Competitive Landscape in Kuwait Vehicle Leasing Market The competition in Kuwait has grown 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 from price war strategy (that was once employed by various companies in order to gain market share by providing vehicles at a lower lease installment) 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. Another factor that consumers look upon, is how streamlined the process of leasing is. The delivery time of the vehicle has to be decreased to minimum and reduction in the number of required documents would also increase the customer satisfaction. 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. 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 Rental Leasing Future Growth, Kuwait Vehicle Leasing Business, Kuwait Vehicle Leasing Companies, Kuwait Vehicle Leasing Industry Research Report, Kuwait Vehicle Leasing Market Analysis, Kuwait Vehicle Leasing Market Growth, Kuwait Vehicle Leasing Market Research Report, Kuwait Vehicle Leasing Market Size, 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