How rising tourism in KSA will help the Rental and Leasing Car market to double its growth in the next five years?: Ken Research The KSA car and rental market has witnessed consistent growth in the last few years. However, the pandemic negatively impacted the market in 2020 with lockdown and subsequent restrictive measures that included a travel ban and suspension of Hajj and Umrah pilgrims which resulted in low demand. But as the fear of the pandemic is… Read More »
The KSA Car Rental and Leasing Market is expected to contribute SAR ~27 Bn by 2027F owing to rising government policies and growth in travel industry: Ken Research KSA Car Rental and Leasing Market is at growing stage and has highly fragmented market with about 30-40 players in market. The Car Rental and Leasing Market in the KSA has seen emergence of many players over the past years. Budget Rent a Car and Key Car Rental are market leaders. There is robust growth… Read More »
Investment, Introduction of EVs and infrastructure projects under Vision 2030 are driving KSA Car Rental and Leasing Market KSA car rental and leasing market generated revenue of SAR ~15 Bn in 2022 and grew at a CAGR of only ~3% over 2017-2022 due to Covid-19 and sluggish economy. Slow growth in the market during 2016-2017 can be attributed to sluggish economic growth owing to cheap oil which led to fiscal consolidation, weakening investor… Read More »
Car Leasing and Rental Services Market in KSA is forecasted to grow further into SAR ~26 Bn opportunity by 2027F: Ken Research Non-Oil Sector Diversification: Vision 2030 is encouraging new commercial entities to set up in the country which has increased demand for fleet management, leasing and last mile delivery during the recent period. Saudi Arabia’s non-oil business activity expanded at the fastest rate in seven years in November 2022, supported by a sharp rise in new… Read More »
