Saudi Arabia Car Rental and Leasing Market Research Report 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 How Car Rental and Leasing Market Is Positioned in Saudi Arabia? The Car Rental & Leasing Market in Saudi Arabia is currently at its growth stage. An increase in the number of establishments and the growing tourism industry has been complimenting the market size of this industry, coupled with increasing employment rate and GDP. The market has grown significantly during the period 2013 to 2018, though a drop has been registered in the market during 2015-2016 owing to recession period in Saudi Arabia. The Saudi Arabia car leasing segment is primarily dominated by corporate demand especially from industries such as logistics, construction and the oil and gas sector with considerable demand for transportation of equipment and employee mobility. The logistics industry has the biggest share in terms of demand followed by the FMCG & E-commerce industry, while the demand from government & semi-government offices and others grew at a stable rate in 2018. The increasing market size of industries such as construction and e-commerce will directly impact the growth rates of car rental industry in the country as with the increase in the number of construction contracts, the demand for a more rental car for transportation and corporate visitors will increase in the market Interested to Know More about this Report- Request for a sample report The increasing number of tourist arrivals especially during the festivals such as Eid Al- Fitr & Eid Al- Adha has helped the revenue to grow at a CAGR of ~% during the review period. Few of the car rental companies United International Transportation Company (Budget), Hanco rent a car, Theeb rent a car, Best rent a car, Key rent a car, Al Wefaq rent a car, Hertz rent a car, Avis rent a car, and Samara rent a car, Al Tayyar rent a car and others. These companies are providing services such as repair & maintenance, on-road assistance, 24*7 customer support, comprehensive insurance package, and service center and mobile workshops, etc. Nowadays, there are many rental companies that are providing limousine service to their clients to increase their client retention rate. The market witnessed growth at the rate of approximately ~% in terms of revenue and fleet during the review period of 2013 to 2018. Which Type Of Vehicle Has Been More Successful In 2018? The market is dominated by the SUV with or without luggage and pickup cargo cars based on the fleet size in 2018. This is due to the high usage of rental & leasing cars by corporate for transportation. SUV and pick cargo cars are comparatively big in size with luggage compartments and thus suitable for handling of equipment and tools. The major demand for these cars occurs from logistics, telecommunication and construction industries. In terms of rental cars, SUV is preferred as generally, tourists arrive in a group of 6-7 people. SUV with or without luggage and pickup cargo cars accounts for ~% share of the fleet size into the car rental & leasing market in Saudi Arabia. The second most preferred vehicle in car leasing is a medium category which includes cars such as the Honda Accord. This is due to the increasing employment rate in the kingdom and people opt to lease cars compared to buy them as it is comparatively cheaper. The corporate demands for medium category cars for meeting the requirements for client visits and employee mobility. Medium category cars accounted for ~% share on the basis of fleet size in the car rental & leasing market in Saudi Arabia. Share of Different Regions in KSA Car Rental and Leasing Market The central province is dominating the market in terms of fleet size in Saudi Arabia car rental and leasing market. This is due to the presence of a large number of industries in this region, particularly in Riyadh and Jeddah. Also, Riyadh is the most populous city in Saudi Arabia and thus, in order to capture the individual and corporate demand for leasing and rental, companies keep their maximum fleet in this region. The central region accounts for ~% share of the total fleet size in Saudi Arabia . The second-ranked region in terms of fleet size is a western province. This is due to the presence of institutions and universities in this region. Also, the western region is the most popular tourist destination due to cities such as Mecca & Medina. These places are the major pilgrimage attractions in Saudi Arabia. Considering the demand from the corporate and tourism industry, car rental companies maintain a significant number of cars in the western region. The western province accounts for ~% share of the total fleet size in car rental & leasing market in Saudi Arabia. What are the Major Challenges in the Saudi Arabia Car Rental & Leasing Market? Saudization is posing as a major challenge for international car rental companies and car dealers. The saudization supports the employment of Saudi nationals into car rental companies and discourages foreign employees. This ban led to the shutdown of many small car rental companies in the market. This law results in low profit for the companies as they need to pay high salaries to Saudi workers. The car rental companies are also facing a major challenge from the government initiative of developing public transport in Saudi Arabia. SAPTCO has been established in order to improve the public modes of transport. This creates a threat for car rental companies as an individual would start shifting towards the public mode of transport as they would be available at cheaper rates. Increased premium by the insurance company on rental cars is also creating hindrance in the growth of Saudi Arabia car rental industry. Insurers hiked compulsory motor third-party liability insurance premiums due to the risk and losses suffered during the period of recession. Many insurance companies now refuse to provide insurance coverage to rental companies due to which there is a situation of monopoly where the prices are in the hands of a few insurance companies. As insurance is the pre-requisite demand from corporate and individuals, thus it is a big challenge for car rental companies in the market. 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 Visit this Link :- Request for custom report 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 Key Topics Covered in the Report:- Executive Summary Research Methodology Saudi Arabia Car Rental & Leasing Market Size Saudi Arabia Car Rental & Leasing Market Segmentation SWOT Analysis of Saudi Arabia Car Rental & Leasing Market Trends and Development in Saudi Arabia Car Rental & Leasing Market Issues and Challenges in Saudi Arabia Car Rental & Leasing Market Regulatory Scenario of Saudi Arabia Car Rental & Leasing Market Recent Developments in Saudi Arabia Car Rental & Leasing Market Emerging Technologies in Saudi Arabia Car Rental & Leasing Market Competitive Scenario in Saudi Arabia Car Rental & Leasing Market Company Profiles of Major Players in Saudi Arabia Car Rental & Leasing Market Saudi Arabia Car Rental & Leasing Market Future Outlook and Projections, 2018-2023E Analyst Recommendation in Saudi Arabia Car Rental & Leasing Market For More Information on the research report, refer to below link:- Saudi Arabia Car Rental and Leasing Market Outlook to 2023 Related Reports by Ken Research:- Car Rentals (Self Drive) Market in the United Arab Emirates to 2022: Fleet Size, Rental Occasion and Days, Utilization Rate and Average Revenue Analytics South Africa Car Rental and Leasing Market Projections to 2023 – By Business Model (Self Drive, Cab Aggregator, Car Leasing, Minibus Taxi, Metered Taxi, and Airport Transfers) and By End User (Mining, Logistic & Courier and Others) 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) Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-9015378249 Post Views: 10 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