Rising corporate travel activity, growth in end user industries and increasing importance of workforce mobility will be the major growth drivers of Saudi Arabia long term car rental/leasing market in upcoming years.
The report titled “Saudi Arabia Car Leasing Market Outlook to 2022 – By Car Rental and Car Dealers, By End Users (Logistics, FMCG & Home Delivery, Oil and Gas, Construction, Government offices, Others)” by Ken Research suggested that lower annual payments, wide variety of cars, insignificant maintenance costs, lower upfront cash outlay, comprehensive insurance coverage, negligible registration cost and better technology interface for customers will majorly contribute to the overall revenue growth of Saudi Arabia long term car rental market in next 5 years till 2022
Saudi Arabia long term car leasing industry is relatively concentrated among the top ten players in the industry. In terms of transaction value, the Saudi Arabia long term car leasing market grew from the previous year majorly owing to growth in logistics and FMCG sector. The long term cab rental/leasing market has grown over the years with the growth in the number of players in the industry backed up with increasing preference of renting/leasing a car rather than owing the fleet by companies. The growing number of small and large businesses in the tourism sector in the country has also surged the demand for long term car rental services in Saudi Arabia.
Increasing competition in the market has raised the quality of services offered by car rental/leasing companies in the country, which has attracted more number of customers. The long term car rental market has witnessed increasing presence of multinational companies growing their presence in untapped markets and consistently focusing on increasing their fleet size. Over the years, industry has witnessed intense competition owing to low profit margins which has resulted in the companies to improve their service portfolios. Car dealers which operate into long term leasing, manage to provide lease contracts at a relatively lower price compared to car rental companies. Major target end users for car dealers are government sector which are highly price conscious. Car rental companies, on the other hand charges a higher price but offer specialized services to their customers such as On-road assistance, Insurance coverage and other services which car dealers fails to offer. Companies focus to have few government clients in their portfolio. Growth in religious tourism and leisure holidays has also led to greater demand from travel companies to extend their car leasing agreements with increase in number and type of fleet.
Key Topics Covered in the Report
Best Rent Car Revenue from Car Leasing Saudi Arabia
Commercial Car Leasing Saudi Arabia
Saudi Arabia Car Leasing Market Future
Car Leasing Industry KSA
Makkah Car Leasing Market
Car Leasing Companies in Saudi Arabia
Logistics User Car Leasing Saudi Arabia
Car Leasing Forecast Saudi Arabia
Riyadh Car Leasing Market
Car leasing services in Saudi Arabia
Long Term Car Leasing Fleet in KSA
Saudi Arabia Car Rental Market Size
For more information on the research report, refer to below link:
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Ankur Gupta, Head Marketing & Communications