Press release
UAE Car Rental and Leasing Market Forecast to 2020 – Demand from Work Expats and E-Bookings to Drive Growth : Ken Research
Self Drive Car Rental UAE
The share of car rental in UAE is the second largest within the entire car rental market in Middle East region with a contribution of around ~% in overall revenues in 2015. Hertz Corporation, Thrifty, Europcar, Sixt and Avis Budget have been the leading players in the UAE car rental market with a combined market share of ~% in 2015. UAE car rental market has grown at a CAGR of ~%, over the period, 2010-2015 and increased to USD ~ million in 2015 from USD ~ million in 2010.
Initially car rental market in UAE was driven by on-airport car rental services but with the rise in the number of business men and working Emiratis there has been a rise in the number of number of long term car rentals in the country. The major operators in the industry have reduced car rental expenses, enhanced their fleet size and looked for opportunities in off-airport markets including insurance replacement, while others moved to enter into leisure segment of the market, which has been the possible growth driver of the industry.
The growth in the number of tourists in the country has been majorly due to expansion of Emirates airline’s and Flydubai’s fleet network. The growth in Dubai’s cruise industry has helped by the opening of a third cruise terminal and better accessibility to Dubai. This has led to the rise in the number of tourist attractions in the country and had put forth a fleet size of ~ in 2014. Moreover, with an increase in the enterprises across UAE, the demand for car leasing has enhanced that has pushed the fleets in UAE to ~ during 2015.
UAE car rental market is majorly dependent on the air travel industry as most of the revenue is generated from the airport travelers, so any unrest in the air travel industry has a major impact on the car rental market in UAE. The on-airport segment constituted ~% of the total Chauffeur driven car rental revenue in 2015. It was observed that the on-airport market has witnessed an incursion of various tourists (majorly from U.K. and UAE), shoppers and businessmen.
Chauffeur driven car rental market in UAE has been dominated by rise in demand for online bookings that had held a share of ~% in 2015 whereas physical/ station bookings had occupied a share of ~% in 2015. Abu Dhabi and Dubai are one of the major business destinations of UAE therefore they contribute a major share to the revenues of UAE.
The leasing in UAE is generally opted for short term (Less than 1 year), medium term (1-2 years and long term (2 years and above). It has been observed that the majority of contracts are on the basis of long term. Most long term car lessees go for few of the trusted car rental companies such as Hertz, Avis, Budget and Sixt.
UAE car rental industry has been largely dominated by five major players including Hertz, Thrifty, Sixt, Europcar and Avis Hala. These players share nearly ~% of the total UAE car rental fleets in 2015. Hertz has captured the dominant share in the market for rented cars in UAE with a share of around ~% in 2015.
UAE has witnessed a surge in the numbers of jobs and working expats in the country that has led to the rise in the number of car renters. In order to cater to the rise in the demand of car renters in the country majority of the car rental firms in UAE have enhanced their fleet size. Projection for the future suggests that the market for car rental is expected to witness promising growth, with their fleet size is expected to mount at ~ cars by 2016. During the period 2016-2020, the fleet sizes are expected to incline at a CAGR of ~%, while the fleet size is expected to be mounted at ~ cars by 2020.
Key Topics Covered in the Report:
• The market size of the UAE Car Rental Market on the basis of Revenue and fleet size, 2010-2015
• Market segmentation of UAE Car Rental Market by Business Segment, 2010-2015
• Market segmentation of UAE Car Rental Market by Chauffeur driven on airport or off airport, 2015
• Market segmentation of UAE Car Rental Market by Booking method, 2015
• Market segmentation of UAE Car Rental Market by Car Trips, 2015
• Market segmentation of UAE Car Rental Market by Major Cities, 2015
• Market segmentation of UAE Car Rental Market by Organized/Unorganized, 2015
• Market segmentation of UAE Car Leasing Market by Industry Verticals, 2015
• Market segmentation of UAE Car Leasing Market by Contract Term, 2015
• Market segmentation of UAE Car Leasing Market by Car Type, 2015
• Trends and Developments in UAE Car Rental Market
• Government Regulations in UAE Car Rental Market
• Traveler’s profile by age and gender in UAE Car Rental Market
• Competitive Landscape of Major Players in UAE Car Rental Market
• Market Share of Major Players in UAE Car Rental Market, 2015
• Future Outlook of UAE Car Rental Market, 2016-2020
• Macro Economic Variables affecting UAE Car Rental Market, 2010-2020
For more information on the report, refer to the below link:
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/uae-car-rental-leasing-market/42906-100.html
Related Reports:
India Self Drive Car Rental Market Outlook to 2020 - Rising Customer Aspirations and Easy Availability of Renting Options to Boost Future Growth
Europe Car Rental Industry Analysis to 2017 - Latvia, Belgium and Ukraine to Stimulate the Market Growth
Middle East Car Rental and Leasing Market Forecast to 2020 - Augmentation in Qatar and Oman along with Rise in Car Leasing to Stimulate Growth
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
UAE Car Rental and Leasing Market Forecast to 2020 - Demand from Work Expats and E-Bookings to Drive Growth" provides a comprehensive analysis of the Car Rental and Leasing Market in UAE.
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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