UAE Car Rental and Leasing Market Growth, Size, Trends, Demand, Revenue and Future Outlook
UAE Car Rental and Leasing Market Size- By Rental Duration, By Booking, By Driving Type, By Vehicle Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Oct-2023 | Report ID: AMIN23157 | Pages: 1 - 104 | Formats*: |
| Category : Automotive & Transportation | |||
UAE Car Rental and Leasing Market Introduction and Overview
According to SPER Market Research, the UAE Car Rental and Leasing Market is estimated to reach USD XX billion by 2033 with a CAGR of XX%.
The report includes an in-depth analysis of the UAE Car Rental and Leasing Market, including market size and trends, product mix, distribution channels, and supplier analysis. Businesses in the cars rental and leasing sector rent or lease individual cars without drivers. A lease agreement or contract oversees the leasing of vehicles/automobiles. A leasing agreement is a contract between the owner of the vehicle and the lessee for future performance. A leasing agreement must be in writing and signed by both the lessor and the lessee. The lease contract can be executed as either operating or finance leasing.
- The smart mobility super app Selfdrive.ae debuted "NEOS" in July 2022, bringing game-changing service to UAE clients. The Super App has carefully worked with automakers and car dealerships around the UAE to offer this program on 50 various car models including Chevrolet, Cadillac, Volkswagen, BMW, GMC, Audi, Mercedes, and other brands.
- Udrive, a car rental company based in the United Arab Emirates, will receive an additional USD 5 million in funding in February 2022 to help it grow its commercial potential. The funding comes as Udrive recently reported excellent growth in 2021, generating two million journeys to date to establish itself as one of the leading rental booking platforms in the UAE region based on transactions per car.
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Market Opportunities and Challenges
The UAE Car Rental and Leasing sector is full of potential and obstacles. As a result of individual mindsets and cultural advancements, people are becoming more open to traveling light. People prefer to hire a car rather than own one when traveling. This cultural shift contributed to the abnormally high demand for rental automobiles. Visitors arriving by car no longer visit Indonesia. Tourists are looking for rental automobiles for their upcoming excursions.
Furthermore, many tourists prefer to rent a car to explore their locations at their leisure and comfort. Furthermore, when on business trips, business travellers frequently use rental cars for transportation. Renting a car gives you flexibility, cost savings, and the ability to select the best vehicles for your needs.
The high level of competition among car rental and leasing companies is one obstacle. Because there are so many businesses offering identical products and services, they must work extra hard to gain clients. As a result, certain businesses may struggle to differentiate and survive. Another difficulty is the cost of owning and maintaining a vehicle fleet. Car rental and leasing firms must buy and maintain a large number of automobiles to match consumer demand. The cost of owning and maintaining an automobile can be unreasonably expensive. It requires a significant amount of money and work to ensure that the vehicles for clients are safe, clean, and well-maintained.
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Market Competitive Landscape
SixtSE, The Hertz Corporation, and AVIS Rent a Car are among the leading participants in the United Arab Emirates Car Rental Market. As the country's rental car demand grows, car rental service providers anticipate growth in terms of online and offline services to accommodate consumer shifting behaviors. Furthermore, a number of strategies have been implemented by the players to strengthen their connectivity for car rental and upgrade their current fleet with more vehicles to meet expanding consumer demand in the UAE.
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 Rental Duration, By Booking, By Driving Type, By Vehicle Type |
| Regions covered | France, Germany, Italy, Spain, United Kingdom, Others |
| Companies Covered | Avis Budget Group Inc., Enterprise Holdings Inc., Europcar International, eZhire Technologies FZ LLC, SIXT SE, Speedy Drive Car Rental LLC, The Hertz Corporation, Uber Technologies Inc., and Udrive Car Sharing. |
COVID-19 Impact on UAE Car Rental and Leasing Market
The COVID-19 pandemic has had an impact on the United Arab Emirates vehicle market, with severe lockdowns and a slowdown in mobility to limit the virus's spread. However, with an increase in the number of visitors visiting the UAE, demand for automobile rental services has picked up and is expected to continue during the forecast period.
Key Target Audience
- Tourists and Travelers
- Residents
- Expatriates
- Business Travelers
- Corporate Clients
- Event and Wedding Planners
- Government and Public Sector
- Logistics and Transport Companies
- Construction and Infrastructure Companies
- Insurance and Replacement Services
- Rideshare and Delivery Drivers
- Students and Educational Institutions
Our in-depth analysis of the UAE Car Rental and Leasing Market includes the following segments:
| By Rental Duration: |
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| By Booking Type: |
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| By Driving Type: |
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| By Vehicle Type: |
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Key Topics Covered in the Report
- UAE Car Rental and Leasing Market Size (FY’2023-FY’2033)
- Overview of UAE Car Rental and Leasing Market
- Segmentation of UAE Car Rental and Leasing Market By Rental Duration (Short Term, Long Term)
- Segmentation of UAE Car Rental and Leasing Market By Booking Type (Online, Offline)
- Segmentation of UAE Car Rental and Leasing Market By Driving Type (Self-Driven, Chauffeur-Driven)
- Segmentation of UAE Car Rental and Leasing Market By Vehicle Type (Budget/Economy, Premium/Luxury)
- Statistical Snap of UAE Car Rental and Leasing Market
- Expansion Analysis of UAE Car Rental and Leasing Market
- Problems and Obstacles in UAE Car Rental and Leasing Market
- Competitive Landscape in the UAE Car Rental and Leasing Market
- Impact of COVID-19 and Demonetization on UAE Car Rental and Leasing Market
- Details on Current Investment in UAE Car Rental and Leasing Market
- Competitive Analysis of UAE Car Rental and Leasing Market
- Prominent Players in the UAE Car Rental and Leasing Market
- SWOT Analysis of UAE Car Rental and Leasing Market
- UAE Car Rental and Leasing Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. 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. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the UAE Car Rental and Leasing Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. UAE Car Rental and Leasing Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in UAE Car Rental and Leasing Market
7. UAE Car Rental and Leasing Market, By Rental Duration (USD Million)
7.1. UAE Car Rental and Leasing Market Value Share and Forecast, By Rental Duration, 2023-20337.2. Short Term7.3. Long Term
8. UAE Car Rental and Leasing Market , By Booking Type, (USD Million)
8.1. UAE Car Rental and Leasing Market Value Share and Forecast, By Booking Type, 2023-20338.2. Online8.3. Offline
9. UAE Car Rental and Leasing Market , By Driving Type (USD Million)
9.1. UAE Car Rental and Leasing Market Value Share and Forecast, By Driving Type, 2023-20339.2. Self-Driven9.3. Chauffeur-Driven
10. UAE Car Rental and Leasing Market , By Vehicle Type (USD Million)
10.1. UAE Car Rental and Leasing Market Value Share and Forecast, By Vehicle Type, 2023-203310.2. Budget/Economy10.3. Premium/Luxury
11. UAE Car Rental and Leasing Market Forecast, 2019-2033 (USD Million)
11.1. UAE Car Rental and Leasing Market Size and Market Share
12. UAE Car Rental and Leasing Market, By Rental Duration, 2019-2033 (USD Million)
12.1. UAE Car Rental and Leasing Market Size and Market Share By Rental Duration (2019-2026)12.2. UAE Car Rental and Leasing Market Size and Market Share By Rental Duration (2027-2033)
13. UAE Car Rental and Leasing Market, By Booking Type, 2019-2033 (USD Million)
13.1. UAE Car Rental and Leasing Market Size and Market Share By Booking Type (2019-2026)13.2. UAE Car Rental and Leasing Market Size and Market Share By Booking Type (2027-2033)
14. UAE Car Rental and Leasing Market, By Driving Type, 2019-2033 (USD Million)
14.1. UAE Car Rental and Leasing Market Size and Market Share By Driving Type (2019-2026)14.2. UAE Car Rental and Leasing Market Size and Market Share By Driving Type (2027-2033)
15. UAE Car Rental and Leasing Market, By Region, 2019-2033 (USD Million)
15.1. UAE Car Rental and Leasing Market Size and Market Share By Region (2019-2026)15.2. UAE Car Rental and Leasing Market Size and Market Share By Region (2027-2033)15.3. Eastern Region15.4. Southern Region15.5. Western Region15.6. Norther Region
16. Company Profile
16.1. Avis Budget Group Inc.
16.1.1. Company details16.1.2. Financial outlook16.1.3. Product summary16.1.4. Recent developments
16.2. Enterprise Holdings Inc.
16.2.1. Company details16.2.2. Financial outlook16.2.3. Product summary16.2.4. Recent developments
16.3. Europcar International
16.3.1. Company details16.3.2. Financial outlook16.3.3. Product summary16.3.4. Recent developments
16.4. BASF SE
16.4.1. Company details16.4.2. Financial outlook16.4.3. Product summary16.4.4. Recent developments
16.5. eZhire Technologies FZ LLC
16.5.1. Company details16.5.2. Financial outlook16.5.3. Product summary16.5.4. Recent developments
16.6. SIXT SE
16.6.1. Company details16.6.2. Financial outlook16.6.3. Product summary16.6.4. Recent developments
16.7. Speedy Drive Car Rental LLC
16.7.1. Company details16.7.2. Financial outlook16.7.3. Product summary16.7.4. Recent developments
16.8. The Hertz Corporation
16.8.1. Company details16.8.2. Financial outlook16.8.3. Product summary16.8.4. Recent developments
16.9. Others
17. List of Abbreviations
18. Reference Links
19. Conclusion
20. 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.
Frequently Asked Questions About This Report
UAE Car Rental and Leasing Market is projected to reach USD XX billion by 2033, growing at a CAGR of XX% during the forecast period.
UAE Car Rental and Leasing Market grew in market size from 2022. The Market is expected to reach USD XX billion by 2033, at a CAGR of XX% during the forecast period.
UAE Car Rental and Leasing Market CAGR of XX% during the forecast period.
You can get the sample pages by clicking the link - Click Here
UAE Car Rental and Leasing Market size is USD XX billion from 2023 to 2033.
UAE Car Rental and Leasing Market Segment is covered By Rental Duration, By Booking, By Driving Type, By Vehicle Type.
The Middle East is anticipated to have the highest market share in the UAE Car Rental and Leasing Market.
The key players in the market include Companies Covered Avis Budget Group Inc., Enterprise Holdings Inc., Europcar International, eZhire Technologies FZ LLC, SIXT SE, Speedy Drive Car Rental LLC, The Hertz Corporation, Uber Technologies Inc., and Udrive Car Sharing.
Businesses in the cars rental and leasing sector rent or lease individual cars without drivers. A lease agreement or contract oversees the leasing of vehicles/automobiles.
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