Driven by the various initiatives by the government for increasing the travel and tourism industry and increasing internet penetration, boost in tourism sector, the car rental market in Egypt has ample growth potential in the coming years.
Boost in Tourism: The Egypt car rental market is currently expanding. The pandemic has caused a precipitous drop, which has had a negative impact, but with the reopening of the travel industry, the tourism sector is expected to grow with the inflow of tourists. Furthermore, the growing number of foreign tourists in the country will drive the Egypt car rental market. Furthermore, the rise in consumer disposable income, combined with the influence of a high standard of living and increased spending on luxury travel, is propelling the Egypt car rental industry.
The growing trend of on-demand transportation services: In recent years, the impact of technological advancements has revolutionized the industry. The increasing use of smartphone-based online rental car booking apps is significantly contributing to market growth. With the help of online booking mobile applications for the convenience of customers, companies in the market have been able to capture a large customer base. On-demand ride services enables users to compare locations and prices of nearby taxi, car-sharing, and ride-hailing companies in one app. Furthermore, factors such as the growing trend of on-demand transportation services and the low rate of car ownership among millennials have fueled the growth of the Egypt car rental market.
Covid-19 Impact on Car Rentals: The pandemic had a negative impact on market growth due to a halt in activities as a result of the lockdowns and travel and transportation restrictions imposed by the Egypt government to combat the spread of the coronavirus. Furthermore, as the tourism industry, both international and domestic suffered a significant blow as a result of the pandemic, demand for car rentals decreased, as car rental services are widely used by tourists.
Analysts at Ken Research in their latest publication “Egypt Car Rental Market Outlook to 2027F – Driven by Increasing Internet penetration, On-Demand Services, boost in tourism and Government Initiatives in infrastructure” observed the potential of the Car Rental Market in Egypt. With the boost in tourism sector in Egypt, increasing trend for On- Demand services, rising internet penetration along with government initiatives on infrastructure and electric vehicles are expected to contribute to the market growth over the forecast period. The Egypt Car Rental Market is expected to grow at ~% CAGR over the forecasted period 2022-2027F.
Key Segments Covered:-
Egypt Car Rental Market
By Market Structure, 2022 & 2027F
Organized market
Unorganized market
By Type of Vehicles, 2022 & 2027F
Small Cars/ Hatchbacks
Sedans
SUVs
Others
By ICE/EV, 2022 & 2027F
ICE (Internal Combustion Engine)
Electric Vehicles
By Cities, 2022 & 2027F
Cairo
Alexandria
Giza
Qalyubia
Port Said
Suez
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By Mode of Booking, 2022 & 2027F
Online
Offline
By Time Duration, 2022 & 2027F
Long
Short
By Pick-up, 2022 & 2027F
Off-Airport
On-Airport
Key Target Audience:-
Car Rental Service Providers
Car Rental Companies aiming to establish in Egypt
Egypt’s 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
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Time Period Captured in the Report:-
Historical Year: 2017-2022
Base Year: 2022
Forecast Period: 2022– 2027F
Companies Covered:-
Kayak
Sixt
Europcar
Avis Rent a Car System LLC
Locanfy
Bikebookig.com
TruKKer Holding
Reftruck Egypt
Enterprise Holdings, Inc.
VIPCars.com
Key Topics Covered in the Report:-
Overview, Operating Models and Company Profile of the Automotive Industry in the Egypt, 2022
Overview and Genesis of Car Rental Market in Egypt, 2022
Ecosystem of Egypt Car Rental Market
Business Cycle, Timeline, and Value Chain Analysis of Car Rental Market in Egypt
Egypt Car Rental Market Sizing, 2017- 2022P
Market Segmentations of Car Rental Market in Egypt (by Market Structure, by Type of Vehicle, by ICE/ EV, by Mode of Booking, by Pick-up, by Client, by cities), 2022
SWOT Analysis of Egypt Car Rental Market
Growth Drivers of Egypt Car Rental Market
Government regulations of Egypt Car Rental Market
Government Incentives and Policies on Electrification in Egypt
Trends and Developments of Egypt Car Rental Market
Challenges of Egypt Car Rental Market
Competitive Analysis of Car Rental Market in Egypt
End User Analysis of Car Rental Market in Egypt
Future Outlook and Projections of Car Rental Market in Egypt, 2022-2027F
Market Opportunities and Analyst Recommendations
For more information on the research report, refer to below link:-
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