Saudi Arabia Car Rental and Leasing Market is Driven by Growing GDP, Employment Rate & Expanding End User Industries: Ken Research Analysis 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 “Rising number of establishments, increasing GDP of the country, growing employment rate in Saudi Arabia, increasing size of end user industries and rising tourism will be the key factors driving growth in Saudi Arabia Car Rental and Leasing Market” Growing Employment: The increasing employment opportunity in Saudi Arabia is influencing positively the standard of living and purchasing power of Saudis. High purchasing power enables them to afford their preferable car brands on lease and on rental. This further supports the demand for car rental and leasing service in the country. After the implementation of Saudization in the country, the employment rate of Saudi nationals has immensely improved in the country. In terms of individual demand, Sedan and SUV are the most preferable category and thus the demand for Sedan in rental segment and SUV in leasing segment has rapidly grown between the years 2013-2018. Increasing Number of Establishments: Corporate are the major end users of car rental and leasing service. Thus, the growing number of establishments in the country has increased the demand for rental and leasing services in the country. The increase in number of construction and oil & gas projects have also propelled the demand for rental & leasing service in terms of logistics transportation , employee mobility and business visitors. In terms of leasing service, contracts with duration of 4 years are preferred by corporate owing to the long term projects of industries and are considered as a value for money option. As most of the new establishments are located in eastern provinces mainly in Dammam, Al- Khobar & Jubail, hence the demand for car rental & leasing is highest in these cities. Tourism Industry: The demand for the car rental in Saudi Arabia has enhanced in the past few years with the rise in tourist arrivals for leisure and pilgrim. Saudi Arabia has been observed as catering to millions of pilgrims visiting Hajj and Umrah especially during Eid Al- Fitr and Eid Al- Adha for leisure travels across the Middle East region each year. The tourism industry of Saudi Arabia each year witnessed a new record with the surge in pilgrim visitors. The tourism industry in Saudi accounted for 9.4% of the total GDP of Saudi in 2017. The foreign visitors accounted for 17.7 million in 2018 which is expected to grow by 5.6% each year. Analysts at Ken Research in their latest publication “Saudi Arabia Car Rental and Leasing Market Outlook to 2023- By Business Model (Car Leasing and Car Rental), By Fleet Type (Small Category, Medium Category, SUV, Premium/Luxury) and By End Users (Logistics, FMCG, Oil & Gas, Construction, Government and Others)” believes that an increase in the number of establishment, growing tourist arrivals and growth in end user sectors such as construction, logistics and oil and gas would surge the overall demand for car rental and leasing service in the market. The market has witnessed a positive CAGR of close to 11.4% in terms of revenue from leasing segment and 12.5% in terms of fleet size while rental service witnessed a positive CAGR of close to 4.6% in terms of fleet size, during the review period 2013-2018. Key Segments Covered in Saudi Arabia Car Rental & Leasing Market By Car Dealers & Car Rental Companies (On the basis of fleet size) Car Dealers Car Rental Companies By Type of vehicle (On the basis of fleet size) SUV with or without luggage and pickup & cargo cars Medium category Small category Premium/ Luxury By Duration (On the basis of fleet size) 1-2 years More than 2 years but less than 4 years 4 years More than 4 years By Region (On the basis of fleet size) Central Western Eastern Southern Northern By End User (On the basis of fleet size) Logistics FMCG & e-commerce Oil & Gas Construction Government& semi- government offices Other Industries By User (On the basis of fleet size) Corporate Individual By On Airport & off Airport (On the basis of revenue) On Airport Off Airport Time Period Captured in the Report: Historical Period: 2013-2018 Forecast Period: 2019-2023 Key Target Audience Car Rental Companies Car Dealers End User Industries Individuals Companies Covered: United International Transportation Company (Budget) Hanco rent a car Best rent a car Theeb rent a car Al Wefaq rent a car Hertz rent a car Avis rent a car Autoworld rent a car Samara rent a car Al Tayyar rent a car Key rent a car Ford Aljazerah Al Jomaih Universal Motors For more information on the research report, refer to below link: Saudi Arabia Car Rental and Leasing Market Outlook to 2023 Related Reports Car Rentals (Self Drive) Market in the United Arab Emirates to 2022 South Africa Car Rental and Leasing Market Projections to 2023 Kuwait Vehicle Leasing Market Outlook to 2023 Car Rentals (Self Drive) Market in Thailand to 2022 Car Rentals (Self Drive) Market in Spain to 2022 Contact Us: Ken Research Ankur Gupta, Head Marketing & Communications sales@kenresearch.com +91-9015378249 Post Views: 4 Tags: Al Tayyar Saudi Arabia, Al Wefaq Saudi Arabia, Auto Lease Market Saudi Arabia, Automobile Leasing Sector Saudi Arabia, Autoworld Saudi Arabia, Avis Saudi Arabia Revenue, Budget Market Share Saudi Arabia, Cab Hailing Industry Saudi Arabia, Car Leasing Business Model Saudi Arabia, Car Leasing Challenges Saudi Arabia, Car Leasing Market Saudi Arabia, Car Leasing Saudi Arabia Fleets, Car Rental Business Model Saudi Arabia, Car Rental Issues Saudi Arabia, Car rental market in Saudi Arabia, Car Rental Trends Saudi Arabia, Fleet Rental Yield Saudi Arabia, Future Car Rental Saudi Arabia, Hanco Saudi Arabia Fleet, Jeddah Car Leasing Market, Largest Car Rental Operator Saudi Arabia, Limousine Services Saudi Arabia, Major Companies Saudi Arabia Car Rental, Makkah Car Rental Market, Middle East Car Rental Industry, On Demand Services Market Saudi Arabia, Recovery Car Rental Saudi Arabia, Riyadh Car Leasing Industry, Samara Saudi Arabia, Saudi Arabia Car Leasing Forecast, Saudi Arabia Car Leasing Segmentation, Saudi Arabia Car Rental Competition Scenario, Saudi Arabia Car Rental Future Outlook, Saudi Arabia Car Rental Growth Drivers, Saudi Arabia Car Rental Industry, Saudi Arabia Car Rental Market, Saudi Arabia Car Rental Market Research Report, Saudi Arabia Car Rental Regulations, Saudi Arabia Car Rental Revenue, Saudi Arabia Car Rental Segmentation, Taxi Market Saudi Arabia, United International Transportation Company Saudi Arabia, Universal Motors Saudi Arabia, Vehicle Leasing Market KSA, Women Car Rental Market KSA