GCC Car Rental Market Size, Share, Sales Analysis, Forecast 2024-2032

GCC Car Rental Market Overview

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

According to the latest report by IMARC Group, the GCC car rental market size is projected to grow at a CAGR of 12.87% from 2024 to 2032. The market is expanding, driven by tourism growth, rising demand for mobility solutions, and technological advancements in booking.

GCC Car Rental Market Trends and Drivers:

The escalating tourism sector along with the growing business travel across the region are the factors responsible for the growth of the GCC car rental market. Additionally, the market is catalyzing owing to the expanding demand for convenient as well as flexible transportation options like car rentals. Besides this, the rise in business travel, supported by the increasing corporate sector and numerous international events, is fueling the growth of short-term rentals. Moreover, the availability of luxury and premium car rental services is also a significant driver, catering to tourists and business professionals seeking high-end travel experiences. 

A key trend in the GCC car rental market is the rising adoption of digital platforms and mobile applications, making it easier for customers to book and manage their rentals online. In addition to this, companies are investing in technology to provide seamless user experiences, including contactless payments and GPS-enabled services, which is acting as another significant growth-inducing factor. Another emerging trend is the growing focus on sustainability, with an increasing number of car rental companies adding electric and hybrid vehicles to their fleets to meet rising environmental concerns. Apart from this, the market is positively inflated by long-term rentals and leasing options that are also becoming popular among residents and expatriates, as they offer cost-effective alternatives to vehicle ownership. These trends, coupled with ongoing infrastructure developments and the focus on enhancing tourism and mobility services, are expected to drive the growth of the GCC car rental market in the coming years.

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GCC Car Rental Industry Segmentation:

The report has segmented the market into the following categories:

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              

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Competitive Landscape:

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

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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