Saudi Arabia Car Leasing Market Introduction and Overview
According to SPER Market Research, the Saudi Arabia Car Leasing Market is estimated to reach USD XX billion by 2032 with a CAGR of XX%.
The report includes an in-depth analysis of the Saudi Arabia Car Leasing Market, including market size and trends, Machine Type mix, distribution channels, and supplier analysis. The leasing service is viewed as a solution to the expanding issues businesses have with their mobility needs, particularly those related to residual risk management and vehicle funding and maintenance. For this purpose, they prefer to lease a fleet from leasing businesses. The car manufacturing companies provide its fleet on lease to other manufacturing enterprises to transport their goods and products. Corporate customers prefer leasing cars because it offers hassle-free mobility services like on-demand mobility and after-service amenities.
- April 2022: The Middle East mobility business ekar has introduced a contactless peer-to-peer car-sharing service in Saudi Arabia. By using this service, people may make money by renting out their cars on the ekar platform.
Market Opportunities and Challenges
- Opportunities: The market for vehicle leasing in Saudi Arabia has seen rapid expansion due to several opportunities and a number of new advancements. As more people choose long-term lease over car ownership, the demand for vehicle leasing in Saudi Arabia has been rising. Additionally, the Saudi government has been making efforts to expand the nation's automobile leasing industry. Another important factor promoting market growth is collaborations between airlines and car rental companies to offer clients a seamless travel experience. In Saudi Arabia, there are now a number of online auto leasing services that allow user to book cars online and have them delivered right to their door.
- Challenges: The Saudi Arabian economy, notably changes in the price of oil, can have an impact on consumers' discretionary income and inclination to lease cars. Reduced demand for car leasing services may result from economic instability. Also, Saudi Arabia has a comprehensive regulatory framework that includes a number of laws and policies that control the car leasing sector. Leasing companies may find it difficult to navigate these rules and ensure compliance.
Market Competitive Landscape
The market is quite competitive because of the presence of significant firms including Avis Budget Group Inc., Bin Hadi, Esar International Group, Hertz Corporation, Hanco Automotive, Sixt SE, Yelo Corporation (Al Wefaq), Zipcar, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Vehicle Type, By Vehicle Body Style Type, By Booking Type
|
| Regions covered | West, Centre, North, South, East
|
| Companies Covered | Avis Budget Group Inc., Bin Hadi, Esar International Group, Hertz Corporation, Hanco Automotive, Sixt SE, Yelo Corporation (Al Wefaq), Zipcar, Others
|
COVID-19 Impact on Saudi Arabia Car Leasing Market
The COVID-19 pandemic had a detrimental effect on the market since initial lockdowns and travel restrictions led to low demand, which caused market instability and put a number of automobile rental service providers in a precarious position. Nevertheless, demand is anticipated to return over the projection period after the epidemic as limitations loosened. This is explained by the fact that people favour using private transportation when going to work, institutions, and other locations.
Key Target Audience
- Auto Enthusiasts
- Car Dealerships
- Car Manufacturers
- Consumers
- Fleet Management Companies
- Insurance Companies
- Leasing Service Providers
- Ride-sharing and Mobility Service Providers
- Small and Medium-sized Enterprises (SMEs
- Transportation and Logistics Companies
- Others
Our in-depth analysis of the Saudi Arabia Car Leasing Market includes the following segments:
|
By Vehicle Type:
|
Economy/Budget
Premium/Luxury
|
|
By Vehicle Body Style Type:
|
Hatchback
Sedan
Sports Utility Vehicle
|
|
By Booking Type:
|
Online
Offline
|
Key Topics Covered in the Report
- Size of Saudi Arabia Car Leasing Market (FY’2019-FY’2032)
- Overview of Saudi Arabia Car Leasing Market
- Segmentation of Saudi Arabia Car Leasing Market By Vehicle Type (Economy/Budget, Premium/Luxury)
- Segmentation of Saudi Arabia Car Leasing Market By Vehicle Body Style Type (Hatchback, Sedan, Sports Utility Vehicle)
- Segmentation of Saudi Arabia Car Leasing Market By Booking Type (Online, Offline)
- Statistical Snap of Saudi Arabia Car Leasing Market
- Saudi Arabia Car Leasing Market Growth Analysis
- Problems and Challenges in Saudi Arabia Car Leasing Market
- Saudi Arabia Car Leasing Market Competitive Landscape
- Impact of COVID-19 and Demonetization on Saudi Arabia Car Leasing Market
- Details on Recent Investment in Saudi Arabia Car Leasing Market
- Competitive Analysis of Saudi Arabia Car Leasing Market
- Major Players in the Saudi Arabia Car Leasing Market
- SWOT Analysis of Saudi Arabia Car Leasing Market
- Saudi Arabia Car Leasing Market Future Outlook and Projections (FY’2019-FY’2032)
- 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 Saudi Arabia Car Leasing Market
5. Market variables 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 analysis
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 Saudi Arabia Car Leasing Market Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Saudi Arabia Car Leasing Market
7. Saudi Arabia Car Leasing Market, By Vehicle Type, 2019-2032 (USD Million)
7.1 Economy/Budget
7.2 Premium/Luxury
8. Saudi Arabia Car Leasing Market, By Vehicle Body Style Type, 2019-2032(USD Million)
8.1 Hatchback
8.2 Sedan
8.3 Sports Utility Vehicle
9. Saudi Arabia Car Leasing Market, By Booking Type, 2019-2032(USD Million)
9.1 Online
9.2 Offline
10. Saudi Arabia Car Leasing Market, By Region, 2019-2032 (USD Million)
10.1 Saudi Arabia Car Leasing Market Size and Market Share by Region (2019-2025)
10.2 Saudi Arabia Car Leasing Market Size and Market Share by Region (2026-2032)
10.3 West
10.4 Centre
10.5 North
10.6 South
10.7 East
11. Company Profiles
11.1 Avis Budget Group Inc.
11.1.4 Recent developments
11.2.4 Recent developments
11.3 Esar International Group
11.3.4 Recent developments
11.4.4 Recent developments
11.5.4 Recent developments
11.6.4 Recent developments
11.7 Yelo Corporation(Al Wefaq)
11.7.4 Recent developments
11.8.4 Recent developments
12. List of Abbreviations
13. Reference Links
14. Conclusion
15. 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.
