Saudi Arabia Vehicle Rental Market Research Report 2021-2027
Posted by arshiyashaikh on March 4th, 2022
Market Reports on Saudi Arabia Provides the Trending Market Research Report on “Saudi Arabia Vehicle Rental Market Outlook (2021-2027): Market Forecast By Types (Passenger Vehicle, Commercial Vehicle), By Service Type (Spot Rental, Operating Lease, Limo Services), By Rental Type (Long Term, Short Term), By Booking Type (Online, Offline), By Regions (Eastern, Central, Western, Southern) And Competitive Landscape” under Services Market Research Reports category. The Vehicle Rental Market Database in Saudi Arabia is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
The Saudi Arabia Vehicle Rental Market Report thoroughly covers the market by type, service type, booking type and regions. The Saudi Arabia vehicle rental market outlook report provides an unbiased and detailed analysis of the Saudi Arabia vehicle rental market trends, opportunities high growth areas, market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
Saudi Arabia Vehicle Rental Market Synopsis
The Saudi Arabia vehicle rental market witnessed a decent growth during the period 2017-2019 underpinned by rapid growth in tourism and rising urbanization in the country. However, the Covid-19 pandemic affected the revenues and fleet size of the vehicle rental market significantly due to the moratorium on tourism activities, downscaling of commercial activities, as well as public apprehension about the hygienic treatment of rental vehicles.
The Saudi Arabia Vehicle Rental Market size is projected to grow at a CAGR of 4.5% during 2021-2027F. The primary reason for growth in the Saudi Arabia vehicle rental industry is the rapidly growing investment in the tourism sector, robust development of the logistics sector, as well as the rising preference of corporate players towards leasing of cars. Furthermore, the government’s initiatives for the diversification of economy away from oil, led by Saudi’s Vision 2030, would lead to establishment of several new commercial entities in the country, thereby propelling the demand for transportation services over the coming years. This, in turn, would also augment the revenues of the vehicle rental market in Saudi Arabia.
Market by Types Analysis
Market by Distribution Channels Analysis
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About the Authorarshiyashaikh
Joined: February 5th, 2019
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