GCC Car Rental Market Outlook 2024, Share, Size, Key Players and Forecast By 2032

Car Rental Market-GCC

Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 12.87% (2024-2032)

The GCC car rental market is growing rapidly, driven by tourism, business travel, and the increasing preference for flexible mobility solutions. According to the latest report by IMARC Group, the market is projected to grow at a CAGR of 12.87% from 2024 to 2032.

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GCC Car Rental Market Trends and Drivers:

• Increasing Demand for Convenient Transportation:

  • Rising need for flexible transportation solutions driven by tourism and business travel.
  • Significant growth in short-term car rentals as tourists seek options to explore local attractions.

• Influx of Expatriates and Business Growth:

  • Increased demand for long-term rental solutions, particularly for corporate fleets and business travelers.
  • Major events like Dubai's Expo 2020 and Saudi Vision 2030 attracting more visitors and businesses.

• Digitalization and Technology-Driven Services:

  • Companies offering online booking platforms, mobile apps, and contactless rental options to enhance customer convenience.
  • The rise of ride-hailing and car-sharing services providing affordable and flexible transportation alternatives.

• Growing Demand for Luxury Rentals:

  • Increasing interest in premium car rentals among high-net-worth individuals and tourists seeking exclusive experiences.

• Sustainability Trends:

  • Gradual incorporation of electric and hybrid vehicles into fleets to address environmental concerns.

• Anticipated Market Growth:

  • Continued evolution of digital innovation, tourism, and sustainability expected to support steady growth in the GCC car rental market in the coming years.

GCC Car Rental Industry Segmentation:

The market report offers a comprehensive analysis of the segments, highlighting those with the largest GCC car rental market share. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.

Booking Type Insights:

• Offline Booking
• Online Booking

Rental Length Insights:

• Short Term
• Long Term

Vehicle Type Insights:

• Luxury
• Executive
• Economy
• SUVs
• Others

Application Insights:

• Leisure/Tourism
• Business

End-User Insights:

• Self-Driven
• Chauffeur-Driven

Country Insights:

• Saudi Arabia
• UAE
• Qatar
• Bahrain
• Kuwait
• Oman

Request for customization: https://www.imarcgroup.com/request?type=report&id=11487&flag=C

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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