KSA Car Rental and Leasing Market Outlook to 2027F: 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 expected in rental and leasing from commercial segment with the government promoting development of infrastructure and mandating headquarters of international companies in Riyadh from 2024.
Investment in tourism will promote car rental and leasing by private individuals which is expected to hold ~50% share of the market.
It is expected to see a positive growth in Pickup trucks due to construction activities like Neom project, Vision 2030 and Red Sea project.

Technological Innovations: Technology isn't just evolving the way people rent cars, it is completely transforming the experience, with rental vehicle's operation, performance, and maintenance being made available in real time. Such features are tremendous assets for drivers and fleet managers, and will enable them to more efficiently identify risks and implement timely improvements of their rental services.

Infrastructure Development: Saudi Arabia has announced a trillion-dollar pipeline of infrastructure projects including Neom, Riyadh Metro, Makkah Public Transport, Al Widyan city. The Kingdom aims to position itself as a global hub for investment and logistics in line with its Vision 2030 such as airport and seaport expansion projects designed to strengthen the logistics industry.

Investments and Mergers: Several companies are entering the car rental and leasing space by way of acquiring stakes in already established businesses. These deals will contribute in raising the market's competitiveness and enhancing its leadership position in a sector that is witnessing a rapid growth.

Online Car Rental Booking Services: Car Financing Companies are increasingly moving towards digitization to improve operational profits as well as customer experience. Online car rental booking services in the form of mobile applications and websites has been gaining popularity in KSA, which has enhanced user experience by making the process quicker and more convenient by showing the customer the range of cars at a one stop shop.

Analysts at Ken Research in their latest publication "KSA Car Rental and Leasing Market Outlook to 20267F- Driven by Infrastructure Development, Growing Tourism and Diversification of Economy" by Ken Research observed that Car Rental and Leasing market is an emergent automotive market in KSA at a growing stage from the economic crisis after pandemic. The rising government policies and introduction of EVs, growth in travel industry along with government initiatives is expected to contribute to the market growth over the forecast period. The market is expected to grow at a 11.7% CAGR during 2022-2027F owing to investment in tourism, infrastructure development and new government policies.

Key Segments Covered in the report: -

KSA Car Rental and Leasing Market Segmentation

By type of vehicles

Small Cars
Sedans
SUVs and MUVs
Pick-up trucks
Premium and Luxury

By Region

Central Region
Western Region
Eastern Region
Others (Northern and Southern)

By End-User

Private
Commercial
Government & Semi Government Contracts

KSA Car Leasing Market Segmentation: -

By type of leaser

Car Leasing Companies
Car Dealers

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By Organization

Organized
Unorganized

By type of vehicles

Small Cars
Sedans
SUVs and MUVs
Pick-up trucks
Premium and Luxury

By Duration for Fleets Leased

1 years
2 years
3 years
4 years and more

By Region

Central Region
Western Region
Eastern Region
Others (Northern and Southern)

By End-User

Private
Commercial
Government & Semi Government Contracts

By Commercial

Logistics Companies
FMCG and E-commerce
Oil, Gas & Refineries
Construction
Others- Remaining Industries

KSA Car Rental Market Segmentation: -

By Organization

Organized
Unorganized

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By Pickup Point

Off-airport
On-airport

By type of vehicles

Small Cars
Sedans
SUVs and MUVs
Pick-up trucks
Premium and Luxury

By Region

Central Region
Western Region
Eastern Region
Others (Northern and Southern)

By End-User

Private
Commercial
Government & Semi Government Contracts

Visit @ https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/ksa-car-rental-and-leasing-market-outlook-to-2027/596221-100.html

Key Target Audience: -

Car Rental Service Providers
Car Rental Companies aiming to establish in KSA
KSA automotive industries
Government Bodies & Regulating Authorities
Venture Capitalist targeting the car rental market
Automotive industry association
Car Manufacturers
Existing Car Rental Companies
OEM Dealerships
New Market Entrants
Investors
Car Rental Associations

Time Period Captured in the Report: -

Historical Period: 2017-2022
Base Year: 2022
Forecast Period: 2022-2027F

Companies Covered: -

Budget Rent a Car
Theeb
Key Car Rental
Hanco
Avis
Al jazira/ Auto World
AL Jabr
Best Rent a car
Samara/SIXT

Key Topics Covered in the Report: -

KSA Automotive Market Overview
Ecosystem and Business Cycle of KSA Car Leasing and Rental Market
Timeline and Value Chain Analysis of KSA Car Leasing and Rental Market
KSA Car Leasing and Rental Industry Segmentation
KSA Car Leasing Market Size and Segmentation
KSA Car Rental Market Size and Segmentation
Porter's Five Forces Analysis and Trends of KSA Car Leasing and Rental Market
Growth Drivers and Challenges of KSA Car Leasing and Rental Market
End User Analysis of KSA Car Leasing and Rental Market
Competition Framework for KSA Car Leasing and Rental Market
Future Outlook of KSA Car Rental and Leasing Market
Case Study of Chinese Rental Market
Analyst Recommendations and Industry Speaks

For more insights on the market intelligence, refer to below link:-

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/ksa-car-rental-and-leasing-market-outlook-to-2027/596221-100.html

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https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/c-outlook-2027/596237-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/bahrain-car-rental-market-outlook-to-2027/596252-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/japan-car-rental-market-outlook-to-2027/596215-100.html

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Ken Research is a research based management consulting company. We provide strategic consultancy to aid clients on critical business perspective: strategy, marketing, organization, operations and technology transformation, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies. We provide business intelligence and operational advisory across 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Some of top consulting companies and Market leaders seek our intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.

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