Middle East Car Rental Market Introduction and Overview
According to SPER Market Research, the Middle East Car Rental Market is estimated to reach USD 5.62 billion by 2033 with CAGR of 10.71%.
The report includes an in-depth analysis of the Oman Facility Management Market, including market size and trends, product mix, applications, and supplier analysis. The procedure of renting a car for a set amount of time—typically a few hours to several days—is referred to as car rental. It gives people and companies the freedom to choose from a variety of cars without having to worry about the high cost and lengthy commitment of ownership. Car rental services in the Middle East are available for a range of purposes, such as corporate travel, leisure travel, special events, and airport transfers.
- November 2022: Theeb Rent acquired another 2,000 automobiles to its fleet, raising the number of cars available for short-term rental to roughly 10,500 with economic models from Hyundai, Toyota, Nissan, Ford, Kia, and Chevrolet.
- December 2022: At its newly constructed facility in the Khalifa Economic Zones Abu Dhabi ("KEZAD"), NWTN Inc. reported that it has delivered 20 range-extended electric cars (R-EVs) to M93 Car Rental L.L.C. With this delivery, NWTN officially launches its goal to support the UAE's energy transformation by providing the market with a range of innovative products and services.
Market Opportunities and Challenges
With millions of visitors annually, the Middle East is a well-liked travel destination. The need for automobile rental services is growing as more people choose to explore the area at their own leisure because it is convenient and flexible. Consumer preferences are moving away from ownership and toward access-based solutions. Renting a car gives people the flexibility to select from a large selection of cars without having to worry about upkeep, insurance, or depreciation charges. The growing middle class in the area has raised demand for travel and leisure activities as well as discretionary expenditure. Rental car companies serve this expanding market by offering reasonably priced and practical modes of mobility. Market participants have potential to improve fleet management, streamline operations, and improve customer experience through the deployment of modern technologies including GPS, mobile applications, and online booking platforms.
The Middle East's nations have different laws and license requirements for companies that rent cars. Market participants may find it difficult and time-consuming to comply with these laws. In the area, insurance coverage for rental cars is comparatively expensive. Insurance premiums have an effect on the profitability of car rental companies by adding to their overall operating expenditures. Geopolitical unrest and changes in oil prices can have an effect on the Middle East area and the global economy. The market for car rentals can be impacted by changes in consumer spending and travel habits brought on by economic uncertainty.
Market Competitive Landscape
There are both foreign and regional players in the somewhat consolidated Middle East car rental market. The main rental firms are forming alliances and joint ventures in order to introduce new items and get an advantage over their rivals. Some of major players are Avis Budget Group Inc., Hertz Corp., Enterprise Holdings Inc., Fast Rent a Car, Sixt SE, Europcar, Hanco, Theeb Rent a Car, National Rent a Car and various others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Booking Type, By Application Type, By Vehicle Type, By End-User Type
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| Regions covered | Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE
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| Companies Covered | Avis Budget Group Inc., Hertz Corp., Enterprise Holdings Inc., Fast Rent a Car, Sixt SE, Europcar, Hanco, Theeb Rent a Car, National Rent a Car and various others. |
COVID-19 Impact on Middle East Car Rental Market
The COVID-19 pandemic had a serious effect on the rental automobile business. The COVID-19 epidemic has resulted in a sudden and total halt of transportation, which has forced the market for automobile rentals in the area to stop entirely. Due to the Middle Eastern countries' diminishing inclination towards shared mobility, the demand for rental cars in the region has been dropping. People may not have had as much money available to them as they would have had before the pandemic, which would have affected their inclination to rent cars for vacation or work. However, the demand for automobile rentals in the Middle East has surged dramatically in the wake of the pandemic due to a huge increase in travellers, and this trend is expected to continue throughout the forecast period.
Key Target Audience:
- Tourists
- Airports and Transportation Hubs
- Corporate Clients
- Government and Diplomatic Missions
- Insurance Companies
- Online Platforms and Aggregators
- Universities and Educational Institutions
- Event Management Companies
- Transportation and Logistics Companies
- Fleet Management Companies
- Local Businesses
Our in-depth analysis of the Middle East Car Rental Market includes the following segments:
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By Booking Type:
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Offline booking
Online booking
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By Application:
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Daily utility
Leisure/Tourism
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By Vehicle Type:
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Economy cars
Luxury cars
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By End-User Type:
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Chauffeur
Self-driven
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Key Topics Covered in the Report:
- Middle East Car Rental Market Size (FY’2023-FY’2033)
- Overview of Middle East Car Rental Market
- Segmentation of Middle East Car Rental Market By Booking type (Online Booking and Offline Booking)
- Segmentation of Middle East Car Rental Market By Application Type (Leisure/Tourism and Daily Utility)
- Segmentation of Middle East Car Rental Market By Vehicle Type (Economy Cars and Luxury Cars)
- Segmentation of Middle East Car Rental Market By End-User Type (Self-Driven and Chauffeur)
- Statistical Snap of Middle East Car Rental Market
- Expansion Analysis of Middle East Car Rental Market
- Problems and Obstacles in Middle East Car Rental Market
- Competitive Landscape in the Middle East Car Rental Market
- Impact of COVID-19 and Demonetization on Middle East Car Rental Market
- Details on Current Investment in Middle East Car Rental Market
- Competitive Analysis of Middle East Car Rental Market
- Prominent Players in the Middle East Car Rental Market
- SWOT Analysis of Middle East Car Rental Market
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Middle East Car Rental Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Middle East Car Rental Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Middle East Car Rental Market
7. Middle East Car Rental Market, By Booking Type, (USD Million)
7.1. Middle East Car Rental Market Value Share and Forecast, By Booking Type, 2023-2033
7.2. Offline booking
7.3. Online booking
8. Middle East Car Rental Market, By Application , (USD Million)
8.1. Middle East Car Rental Market Value Share and Forecast, By Application , 2023-2033
8.2. Daily utility
8.3. Leisure/Tourism
9. Middle East Car Rental Market, By Vehicle Type (USD Million)
9.1. Middle East Car Rental Market Value Share and Forecast, By Vehicle Type, 2023-2033
9.2. Economy cars
9.3. Luxury cars
10. Middle East Car Rental Market, By End-User Type (USD Million)
10.1. Middle East Car Rental Market Value Share and Forecast, By End-User Type, 2023-2033
10.2. Chauffeur
10.3. Self-driven
11. Middle East Car Rental Market Forecast, 2019-2033 (USD Million)
11.1. Middle East Car Rental Market Size and Market Share
12. Middle East Car Rental Market, By Booking Type, 2019-2033 (USD Million)
12.1. Middle East Car Rental Market Size and Market Share By Booking Type (2019-2026)
12.2. Middle East Car Rental Market Size and Market Share By Booking Type (2027-2033)
13. Middle East Car Rental Market, By Application, 2019-2033 (USD Million)
13.1. Middle East Car Rental Market Size and Market Share By Application (2019-2026)
13.2. Middle East Car Rental Market Size and Market Share By Application (2027-2033)
14. Middle East Car Rental Market, By Vehicle Type, 2019-2033 (USD Million)
14.1. Middle East Car Rental Market Size and Market Share By Vehicle Type (2019-2026)
14.2. Middle East Car Rental Market Size and Market Share By Vehicle Type (2027-2033)
15. Middle East Car Rental Market, By End-User Type, 2019-2033 (USD Million)
15.1. Middle East Car Rental Market Size and Market Share By End-User Type (2019-2026)
15.2. Middle East Car Rental Market Size and Market Share By End-User Type (2027-2033)
16. Middle East Car Rental Market, By Region, 2019-2033 (USD Million)
16.1. Middle East Car Rental Market Size and Market Share By Region (2019-2026)
16.2. Middle East Car Rental Market Size and Market Share By Region (2027-2033)
16.2.1. Bahrain
16.2.2. Kuwait
16.2.3. Oman
16.2.4. Qatar
16.2.5. Saudi Arabia
16.2.6. UAE
17. Company Profile
17.1. Avis Budget Group Inc.
17.1.1. Company details
17.1.2. Financial outlook
17.1.3. Product summary
17.1.4. Recent developments
17.2. Enterprise Holdings Inc.
17.2.1. Company details
17.2.2. Financial outlook
17.2.3. Product summary
17.2.4. Recent developments
17.3. Fast Rent a Car
17.3.1. Company details
17.3.2. Financial outlook
17.3.3. Product summary
17.3.4. Recent developments
17.4. Hanco
17.4.1. Company details
17.4.2. Financial outlook
17.4.3. Product summary
17.4.4. Recent developments
17.5. Hertz Corp.
17.5.1. Company details
17.5.2. Financial outlook
17.5.3. Product summary
17.5.4. Recent developments
17.6. National Rent A Car
17.6.1. Company details
17.6.2. Financial outlook
17.6.3. Product summary
17.6.4. Recent developments
17.7. Sixt SE
17.7.1. Company details
17.7.2. Financial outlook
17.7.3. Product summary
17.7.4. Recent developments
17.8. Theeb Rent A Car
17.8.1. Company details
17.8.2. Financial outlook
17.8.3. Product summary
17.8.4. Recent developments
15.9 Others
16 List of Abbreviations
17 Reference Links
18 Conclusion
19 Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
