Amplified the influx of tourists in UAE has led to the growing demand for rental, leasing, and limousine services.”
Technological Advancement: With the use of technological capabilities such as GPS tracking, Biometrics, Smartphone technology, connected cars, Keyless technology, and WIFI facility can help in reducing the operational cost, better management of the fleet. Adoption of Modern application with the feature of booking the car anywhere and using filters on the basics of location, car brands, car segment. This has made it easy for the customers to book and pre-book a vehicle with their flexibility and comfort. The government has also taken a step forward by promoting Electric vehicles on UAE roads.
Growth in International Tourist: UAE is a modern hub of shopping, culture, and iconic structure attracting tourists from all around the globe with the majority of the visitors’ population from India, KSA, and the UK. International visitors summed up a total of 16.66 Million in 2018 and Dubai International is one of the busiest Airports. Dubai and Abu Dhabi is the major tourist hub spot attracting the majority of car rentals and limousine bookings from the airport as well as off-airport locations. The tourists rent a vehicle from the airport itself for traveling around the places. Upcoming Annual events such as Dubai Tennis Championship, Dubai Shopping Festival, and Grand Prix are expected to attract a huge visitor’s population and increase the demand for car rentals, Leasing, and Limousine cars.
Sprouting SME industry in UAE: The Small and medium-sized enterprises (SMEs) sector represents more than 98% of the total number of companies operating in the UAE and contributes towards 52% of the non-oil GDP. The SME industry in UAE is growing and has a huge potential to help grow the car renting leasing, and limousine industry. The SMEs require vehicles for their daily transport and services and Lease cars for its corporate use and for its employees. They even rent out cars and Limousine services for special occasions and clients. As the number of SMEs increases the demand for the rental, leasing, and limousine industry will increase drastically.
Analysts at Ken Research in their latest publication “UAE Car Rental, Leasing and Limousine Outlook to 2024 – Driven By Growth In Tourism And Corporate Demand” believe that the car rental, leasing and limousine industry in UAE has been growing and is expected that it will expand further owing to the rising number of SME’s, International Tourists, working population, and annual events, additional services provided by companies such as flexible plans, online booking options, and offers. The Car rental and leasing market is expected to register a positive CAGR of 9.7% in terms of revenue during the forecast period 2019-2024F and a positive CAGR of 13.8% in terms of revenue during the forecast period 2019-2024F for the limousine industry.
Key Segments Covered for Car Rental: –
By Emirates:
Dubai
Abu Dhabi
Others (Ras Al Khamiah, Sharjah, Al-Ain, Ajman and Umm Al Quwain)
By Types of Car:
Economy
SUV
Luxury
By End User:
Corporate
Individual
By Source of Booking:
On-Airport
Off- Airport
By Duration of Car Rental:
0-1 Month
1-6 Month
6-12 Month
Key Segments Covered for Car Leasing
By Emirates:
Dubai
Abu Dhabi
Others (Ras Al Khamiah, Sharjah, Al-Ain, Ajman and Umm Al Quwain)
By Types of Car:
Economy
SUV
Luxury
By Type of Car Leased:
Corporate
Individual
By Duration of Car Leasing:
1 Year
2 Year
3 Year
3+ Year
By End User:
Facility Management
Industrial Sector
Food Services
Logistics
Oil and Gas
Government and Associations
Others
Key Segments Covered for Limousine Car
By Emirates:
Dubai
Abu Dhabi
Others (Ras Al Khamiah, Sharjah, Al-Ain, Ajman and Umm Al Quwain)
By Limousine companies by Emirates:
Dubai
Abu Dhabi
Others (Ras Al Khamiah, Sharjah, Al-Ain, Ajman and Umm Al Quwain)
By Types of Car:
Standard
Large sized
Premium
Ultra-Luxury
By Business:
Event Business
Non- Event Business
By Source of Business:
Airport
Non-Airport
By Source of Payment:
Direct from Corporate
Corporate Payments
By Purpose of Limousine:
Leisure
Corporate
Key Target Audience
Car Rental companies
Car Leasing companies
Limousine Companies
Tourisms Industries
Tour and Travel Aggregator
Automobile companies
Cab taxi companies
Cab Aggregators
Technology Provides
Investors and Venture Capitalist
Government Associations
Logistics company
Time Period Captured in the Report:
Historical Period – 2014-2019
Forecast Period – 2020-2024
Companies Covered:
Car Rental and Leasing Companies:
Thrifty Rent a Car
Emirates Transport
Hertz
Diamondlease
Massar Car Rental
Leaseplan
Shift Rent a Car
National Car Rental
Avis Rent a Car
Europcar
Budget Rent a Car
Fast Rent a Car
Dollar
AutoRent
Paramount Car Rental and Leasing
EuroStar
Sixt Rent a Car
Limousine Companies:
Dubai Taxi Corporation
Emirates Transport
CityLink Limousine
Private Limousine
Avis Limousine
Transguard Limousine
National Transport
Sharjah Roads and Transport Authority
Hot Wheels Limo
Global Wings Limousine
Cityway Limousine
Royal Falcon Limousine
Patriot Limo
Niceway Limousine
Insaf Limousine
German Limousine
Onak Limousine
Dubai Exotic Limousine
Elite Class Limousine Services
Key Topics Covered in the Report: –
Chauffeur services in UAE,
Companies in UAE Car Rental Market
Corporate Limousine Car Industry in UAE
Driver services in UAE
Dubai Exotic Limousine Market Future Outlook
Economy Cars Booking in UAE
Royal Falcon Limousine Market Competitors
Sedan Cars Booking in UAE
Sharjah Limousine Car Market
Shift Rent a Car Market Revenue
Sixt Rent a Car Industry Report
Sprouting Car Rental Market in UAE
Electric cars in UAE
Emirates Transport Car Leasing Market Analysis
Future outlook of the UAE Car Rental Market
German Limousine Industry Revenue Analysis
Growth for Car Rental Industry in UAE
Hatchback Cars Booking in UAE
Hotels and Tourism industry in UAE
For More Information on the research report, refer to below link: –
UAE Car Rental and Leasing Market Growth
Related Reports by Ken Research: –
Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
