UAE Car Rental, Leasing, and Limousine Market: Projected to Reach AED 14.3 Billion by 2027

In-Depth Analysis by Ken Research 

GURUGRAM, India, Feb. 5, 2024 /PRNewswire/ — The UAE Car Rental, Leasing, and Limousine Market, as analyzed by Ken Research, is anticipated to grow to AED 14.3 billion by 2027, demonstrating a CAGR of 6.4% from 2022. This growth trajectory is a testament to the dynamic nature of the UAE’s transport sector, reflecting an evolving landscape shaped by increasing tourism, business travel, and a growing expatriate population. 

Market Evolution and Transformation 

Since 2017, the market has shown consistent growth, evolving from a value of AED 8090.9 million to AED 10478.6 million in 2022. This progression is driven by a diversified market structure and a blend of organized and unorganized sectors, with small fleet operators holding the largest market share of 45.6%. 

 Interested to Know More about this Report, Request a Free Sample Report

Segmentation and Dominance by Region 

Dubai remains the leading region in the market, attributable to its dense concentration of government and corporate offices, and substantial wealth inflows. Abu Dhabi follows, with its diversifying corporate climate boosting demand for car leasing. The market segmentation reveals a majority preference for economy cars, accounting for 65% of the market share, due to their affordability and availability. 

Competitive Landscape and Key Players 

The market is moderately fragmented, with major players like Emirates Transport, Thrifty Rent a Car, and Leaseplan holding a significant stake. Emirates Transport leads in fleet size with 13,800 vehicles, while in the limousine segment, Private Limousine boasts the largest fleet size with 200 cars.

Visit this Link :- Request for custom report 

Emerging Trends and Market Dynamics 

The influx of tourists and rapidly changing infrastructure in the UAE have increased the demand for short-term car rental services. In the limousine market, standard limos are popular for their practicality and versatility, suitable for various occasions. 

Future Market Projections and Growth Factors 

With the government’s goal of attracting 40 million tourists by 2031, as per the UAE Tourism Strategy 2031, the market is poised for growth. The shift towards e-hailing services, driven by collaborations like that between the RTA of Dubai and Careem, is anticipated to boost the market further. 

Ken Research: The Authority in Market Analysis 

For a detailed and authoritative analysis of the UAE Car Rental, Leasing, and Limousine Market, turn to Ken Research. Our extensive report provides comprehensive insights into market trends, competitive landscapes, and strategic predictions for the future. Explore our research offerings at Ken Research for unparalleled market intelligence in this sector. 

Request free 30 minutes analyst call

Taxonomy 

By Type of Vehicle 

Economy 

SUV 

Luxury 

By Type of End-User 

Commercial 

Private 

Government 

By Type of Gender 

Standard Limousine 

Large Sized Limousine 

Premium Limousine 

Ultra Luxury Limousine

For More Insights On Market Intelligence, Refer To The Link Below: –

UAE Car Rental Leasing and Limousine Market

Related Reports by Ken Research: –

KSA Car Sharing, Taxi and Truck Leasing Market Driven by increasing tourism, need for mobility, technology integration and government initiatives to develop the economy

The market is expected to grow substantially during 2022-2027 owing to factors such as Increasing tourism, the need for mobility, technology integration and government initiatives to develop the economy. Under the Saudi Vision 2030, the demand for leasing would further increase as other sectors like imported goods have to be transported by trucks which will increase the demand for them to be leased trucks in country.

Kuwait Car Rental & Leasing Market Outlook to 2027 How a leading regional player in rental and leasing industry allocated resources to increase its presence and overall market share

The market will grow at a CAGR of 9.8% during 2022-2027 due to increasing tourism industry & improvements in transportation. As the global automotive industry moves towards sustainability, there might be an increase in demand for electric vehicles. Car rental and leasing companies in Kuwait may explore adding electric or hybrid vehicles to their fleets to cater to environmentally conscious customers.

UAE Used Car Market Outlook to 2028 Driven by increasing expats population and global shortage of semiconductor chips

UAE used car market to witness growth slowdown in 2023 due to improved conditions in the new car market related to semiconductor shortages. Reduced waiting periods for new cars shift consumer preference, but strong demand in the used car market persists, especially for mid-level cars.

UAE EV and EV Charging Equipment Market Outlook to 2027 Driven Government Initiatives, Demand for Eco-friendly Transportation and Entry of New Brands in the Marketplace

The future EV Market in UAE is predicted to increase at a CAGR of 23.7% (2023-2028) owing to the continued expansion of charging infrastructure and favourable government policies. Dubai Electricity and Water Authority By 2030, DEWA wants more than 1,000 public charging stations to be accessible throughout Dubai.

Follow Us –

LinkedIn | Instagram | Facebook | Twitter | YouTube

Contact Us:-
Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
Ankur@kenresearch.com
+91-9015378249

Logo: https://mma.prnewswire.com/media/1954972/Ken_Research_Logo.jpg


Go to Source