Saudi Arabia Vehicle Rental Market Outlook (2021-2027)
Market Forecast By Types (Passenger Vehicle, Commercial Vehicle), By Service Type (Spot Rental, Operating Lease, Limo Services), By Rental Type (Long Term, Short Term), By Booking Type (Online, Offline), By Regions (Eastern, Central, Western, Southern) And Competitive Landscape
According to 6Wresearch, the Saudi Arabia Vehicle Rental Market size is projected to grow at a CAGR of 4.5% during 2021-2027F. The primary reason for growth in the Saudi Arabia vehicle rental industry is the rapidly growing investment in the tourism sector, robust development of the logistics sector, as well as the rising preference of corporate players towards leasing of cars. Furthermore, the government’s initiatives for the diversification of economy away from oil, led by Saudi’s Vision 2030, would lead to establishment of several new commercial entities in the country, thereby propelling the demand for transportation services over the coming years. This, in turn, would also augment the revenues of the vehicle rental market in Saudi Arabia.
The COVID-19 pandemic affected the revenues and fleet size of the vehicle rental market significantly due to the moratorium on tourism activities, downscaling of commercial activities, as well as public apprehension about the hygienic treatment of rental vehicles. The vehicle rental market of Saudi Arabia is expected to witness growth, primarily backed by the rapidly growing investment in the tourism sector, robust development of the logistics sector, as well as the rising preference of corporate players towards leasing of cars.
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Market by Distribution Channels Analysis
In 2020, offline distribution channel acquired 70.0% revenue share in Saudi Arabia vehicle rental market owing to inadequate know-how among people and high preference of offline mode of booking amongst logistics and commercial sector.
Key Highlights of the Report
Saudi Arabia Vehicle Rental Market Overview
Saudi Arabia Vehicle Rental Market Outlook
Saudi Arabia Vehicle Rental Market Value Chain
Saudi Arabia Vehicle Rental Market Forecast
Saudi Arabia Vehicle Rental Market Revenue Share, By Market Players
Covid-19 Impact on Saudi Arabia Vehicle Rental Market
Saudi Arabia Vehicle Rental Market Drivers and Restraints
Company Profiles
Key Strategic Recommendations
Historical Data and Forecast of Saudi Arabia Vehicle Rental Market Revenues, By Booking Type, for the Period 2017-2027F
Historical Data and Forecast of Saudi Arabia Vehicle Rental Market Revenues, By Rental Type, for the Period 2017-2027F
Historical Data and Forecast of Saudi Arabia Vehicle Rental Market Revenues, By Regions, for the Period 2017-2027F
Historical Data and Forecast of Saudi Arabia Vehicle Rental Market Revenues, for the Period 2017-2027F
Historical Data and Forecast of Saudi Arabia Vehicle Rental Market Revenues, By Type, for the Period 2017-2027F
Historical Data and Forecast of Saudi Arabia Vehicle Rental Market Revenues, By Service Type, for the Period 2017-2027F
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