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.
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.
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
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| Regions covered | France, Germany, Italy, Spain, United Kingdom, Others
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| 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.
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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:
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By Rental Duration:
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Short Term
Long Term
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By Booking Type:
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Online
Offline
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By Driving Type:
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Self-Driven
Chauffeur-Driven
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By Vehicle Type:
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Budget/Economy
Premium/Luxury
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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 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 UAE Car Rental and Leasing 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. UAE Car Rental and Leasing Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. 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, 2023-2033
7.2. Short Term
7.3. 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, 2023-2033
8.2. Online
8.3. 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, 2023-2033
9.2. Self-Driven
9.3. 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, 2023-2033
10.2. Budget/Economy
10.3. 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 Region
15.4. Southern Region
15.5. Western Region
15.6. Norther Region
16. Company Profile
16.1. Avis Budget Group Inc.
16.1.1. Company details
16.1.2. Financial outlook
16.1.3. Product summary
16.1.4. Recent developments
16.2. Enterprise Holdings Inc.
16.2.1. Company details
16.2.2. Financial outlook
16.2.3. Product summary
16.2.4. Recent developments
16.3. Europcar International
16.3.1. Company details
16.3.2. Financial outlook
16.3.3. Product summary
16.3.4. Recent developments
16.4. BASF SE
16.4.1. Company details
16.4.2. Financial outlook
16.4.3. Product summary
16.4.4. Recent developments
16.5. eZhire Technologies FZ LLC
16.5.1. Company details
16.5.2. Financial outlook
16.5.3. Product summary
16.5.4. Recent developments
16.6. SIXT SE
16.6.1. Company details
16.6.2. Financial outlook
16.6.3. Product summary
16.6.4. Recent developments
16.7. Speedy Drive Car Rental LLC
16.7.1. Company details
16.7.2. Financial outlook
16.7.3. Product summary
16.7.4. Recent developments
16.8. The Hertz Corporation
16.8.1. Company details
16.8.2. Financial outlook
16.8.3. Product summary
16.8.4. Recent developments
16.9. Others
17. List of Abbreviations
18. Reference Links
19. Conclusion
20. Research Scope