MarkNtel Advisors has thoughtfully curated the Saudi Arabia Rent a Car Market Research Report, taking into account our client's distinct needs. Our research offers a thorough examination of the present regional and global market conditions. This report on industry analysis extensively encompasses market dynamics, limitations, and their potential consequences on future market requirements, presenting a comprehensive overview of the sector.

What is the projected growth rate of the Saudi Arabia Rent a Car Market during the forecast period?

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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Key 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.

Furthermore, the growth in medical tourism, in response to the expansion of the healthcare industry, is also creating a new customer base for rental car services in the country. Therefore, medical tourism in Saudi Arabia is expected to grow in the near future, thereby upgrading the growth of the Rent a Car market.

Segmentation Analysis of Saudi Arabia Rent a Car Market:

The report has segmented the market into the following categories:

-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

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-By Region

-Central

-East

-West

-South

Competitive Landscape with Key Player:

Hertz, Sixt Rent a Car, Europcar, LUMI, Avis Budget Group, FinalRentals KSA, Enterprise Holdings, Inc., Alwefaq Transportation Solutions (Yelo), Hanco (Al Tala’a International Transportation Co. Limited), Others

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