Comprehensive Research Report on Saudi Arabia Rent a Car Market Analysis, Growth Forecast 2023-2028
MarkNtel Advisors, one of the leading market research firms, has come up with its latest report, titled Saudi Arabia Rent a Car Market. The analysts meticulously assessed the collected material, employing a blend of primary and secondary research activities to extract valuable insights.
The Saudi Arabia Rent a Car market is projected to grow at a CAGR of around 9.84% during the forecast period, i.e., 2023-28.
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Market Driver:
Development of the Tourism Industry
The tourism industry of the Kingdom of Saudi Arabia has been growing at a fast pace over the past years due to the increasing focus of the government on this sector. Rising investments & infrastructure expansion, such as the construction of hotels, theme parks, art galleries, metro lines, etc., led to the blossoming of the tourism sector in the country. This has raised the total number of travelers across the country, which enhanced the demand for rental car services owing to the ease of exploring new destinations, and long-term cost-effectiveness, compared to the total expenses on public transport. These cars offer a high level of comfort to tourists, and they get to avail attractive offers made by hotels & travel companies for these services in their packages, which has positively impacted the market in the country.
Market Segmentation
The report’s key sections have undergone thorough scrutiny by industry experts, who explored the aforementioned categories and sub-segments. Profitability and growth potential of the Saudi Arabia Rent a Car industry were investigated in detail. This research section also provides sales and revenue projections for 2023-2028 based on factors such as price, sales, and revenue.
The Saudi Arabia Rent a Car Market is segmented as follows:
By Type of Car
-Economy
-SUV
-Multi Utility Vehicle
-Luxury
By Application
-Leisure
-Commercial
By Drive Type
-Self-Driving
-Chauffeur
By Booking Type
-Offline
-Online
By Usage
-Local
-Airport
-Outstation
By Rental Duration
-Short Term
-Long Term
Geographically, the Saudi Arabia Rent a Car Market extends across the following regions:
By Region
-Central
-East
-West
-South
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Leading key Players:
The Saudi Arabia Rent a Car Market Research delves into the factors propelling and impeding market growth, presenting an overview of emerging trends in corporate strategies, procedures, and the adoption of financially prudent, long-term approaches. The market study encompasses crucial details such as industry overview, specifications, definitions, suppliers, R&D status, cost structure analysis, technology sources, key players.
- Theeb
- Hertz
- Sixt Rent a Car
- Europcar
- LUMI
- Avis Budget Group
- FinalRentals KSA
- Enterprise Holdings, Inc.
- Alwefaq Transportation Solutions (Yelo)
- Hanco
- Others
Key Questions Addressed in this Report:
- Who are the primary stakeholders in the supply chain, and what are the interconnections among them?
- What plans and initiatives are in place among existing market participants to establish a presence in the Saudi Arabia Rent a Car market?
- Which segment currently leads in the Saudi Arabia Rent a Car market, and which category is poised to take the lead in the future?
- What factors are anticipated to drive demand for Saudi Arabia Rent a Car during the forecast period?
- Which country is expected to dominate the market during the forecast period?
- What are the main obstacles to the expansion of the Saudi Arabia Rent a Car market?
- What are the primary opportunities that leading companies identify in the business?
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MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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