Saudi Arabia Car Rental and Leasing Market Size to Surpass $3.6B by 2033: At a CAGR of 2.90%

Saudi Arabia Car Rental and Leasing Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Growth Rate: 2.90% (2025-2033)

The Saudi Arabia car rental and leasing market is witnessing growth through tourism, urbanization, and corporate demand. Online platforms and flexible options enhance consumer appeal. Saudi Arabia car rental and leasing market size reached USD 2.8 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 3.6 Billion by 2033, exhibiting a growth rate (CAGR) of 2.90% during 2025-2033.

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Saudi Arabia Car Rental and Leasing Industry Trends and Drive:

Saudi Arabia Car Rental and Leasing Market is being stimulated by the growth in tourism and the need for urban mobility, with an increase in the short-term rentals and long-term leasing in cities, such as Jeddah and Riyadh. the presence of electric vehicles is gaining popularity, as eco-aware travelers prefer to rent them, while also responding to the demand for luxury vehicles from corporate clients. Taking advantage of technology, SaaS platforms such as Yalla Rent offer customers a one-stop source for renting vehicles, allowing municipalities, private and commercial vehicles, and drivers and passengers to directly book rentals. Using social media channels, companies can target customers interested in renting a vehicle, and the multiple social media campaigns launched would highlight the ease of renting a vehicle, as well as the options available. Urban development areas are prioritizing premium rentals from car rental companies for business trips or leisure vacations, while rural areas are committed to affordability through affordable leasing options to help fulfill their transportation needs. Vehicle safety regulations and standards were in place to maintain well-being for road users, but expensive insurance coverage and the lack of infrastructure development in rural settings for transport rental continue to challenge audient barriers, and companies should expand their networks to respond to demand.

Working with city tourism boards can be mutually beneficial for rentals at airports because many customers seek convenience when travelling. Saudi Arabia Car Rental and Leasing Market still represents a vibrant segment of the transport sector of the region's travel and tourism industry. Corporate and expatriate demand continues to increase, and the Saudi Arabia Car Rental and Leasing Market remains strong, as leasing models within the segment serves well to accommodate SMEs and multinational corporations that witness value within daily rental transactions. Subscription-based services and the use of telematics for fleet management has grown and is expected to continue for businesses needing mobility on a budget. Saudi Saudi Arabia Car Rental and Leasing Market has expanded and grown with the advent of online aggregators, although rural investment in rentals is still low as the low customer base would constrain business profitability for providers.

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Saudi Arabia Car Rental and Leasing Industry Report Segmentation:

The report has segmented the market into the following categories:

Type Insights:

● Car Rental
● Car Leasing

Vehicle Type Insights:

● Economy/Budget
● Premium/Luxury

Vehicle Body Style Type Insights:

● Hatchback
● Sedan
● Multi-Utility Vehicle and Sports
● Utility Vehicle

Booking Type Insights:

● Online
● Offline

Regional Insights:

● Northern and Central Region
● Western Region
● Eastern Region
● Southern Region

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key highlights of the Report:

● Market Performance (2019-2024)
● Market Outlook (2025-2033)
● COVID-19 Impact on the Market
● Porter's Five Forces Analysis
● Strategic Recommendations
● Historical, Current and Future Market Trends
● Market Drivers and Success Factors
● SWOT Analysis
● Structure of the Market
● Value Chain Analysis
● Comprehensive Mapping of the Competitive Landscape

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About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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This release was published on openPR.