UAE being recognized as Premium Tourist & Leisure Destination with Growing Number of Expats to Drive Car Rental Market.

The UAE Car Rental, Leasing and Limousine market in anticipated to grow with a positive growth rate with new entrants’ business growth.

UNITED ARAB EMIRATES ( UAE ), January 11, 2021 /EINPresswire.com/ -- • The U.A.E.’s leisure and entertainment market is set to grow as 45 million visitors are expected by 2021, including 30 million international tourists increasing business for Hospitality, Tourism and Transportation industries

• Expat population sums up to 8.45 million as of 2018, with the highest 35.7% of Indians.6 During 2018, the outflow of emigrants from India to UAE, comprised of 103 Thousand

• Dubai and Abu Dhabi to forecast a huge demand in Car Rental, Leasing and Limousine Services anticipated by the upcoming events and Expo.

Electric Vehicle, IOT technology and Machine learning will drive the Growth: Car Rental, Leasing and Limousine companies are using the technology such as IOT and machine learning to improve the Fleet operations and management. New Tech based platform such as Beno are entering the market to increase traditional sales channels for its partners and also creating a more efficient, data enabled, and technology driven ecosystem with consumers at its heart. Companies are focusing on customer experiences and services are providing best online service and car booking features.
Digital Payments will soon become a common practice across the UAE giving the customers freedom from carrying cash and local currency. This will be highly beneficial for the Intentional Tourists.

For more information on the research report, refer to below link:

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/uae-car-rental-leasing-and-limousine-market-outlook/335273-100.html

Annual Events and Growing demand: More than 1, 35,000 visitors are expected to attend Formula 1 Grand Prix 2020 in Abu Dhabi out of which 60% will be foreign visitors. With the growing popularity of the Dubai and Abu Dhabi as the major Economic locations, there is high influx of corporate and Tourists creating an enforced demand for the Car Rental, Leasing and Limousine Services. New Cab Aggregators are emerging in the market to cater the potential demand. The leasing and Limousine service are expected to increase with a positive CAGR of 6.6% and 7.7% respectively in terms of fleet during the forecast period 2019-2024F.

Growth Strategies by UAE Cab Taxi Industry: Dubai Taxi Corporation will be adding 200 Tesla electric cars by 2020 and 50% of its fleet will be converted into hybrid vehicle by 2021. Hybrid vehicles save fuel consumption by as much as 25.41 L per vehicle per day - equivalent to Dh54.38 savings per vehicle per day (fuel price at Dh2.14 per L). Furthermore, Cashless payments are becoming the norm in the UAE, and Abu Dhabi emirate’s taxis has started to offer the same convenience to commuters as it is often hard to find the exact change needed to pay the fare

Analysts at Ken Research in their latest publication “UAE Car Rental, Leasing and Limousine Outlook to 2024¹- Driven By Growth In Tourism And Corporate Demand for Employee Mobility” 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 the companies such as flexible plans, online booking option 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

Present Day Landscape of UAE Rental, Leasing and Limousine Industry
UAE Car Rental Market Overview
UAE Car Rental Market Size
UAE Car Rental Market Segmentation
Competition in UAE Car Rental Market
Future outlook of UAE Car Rental Market
UAE Car Leasing Market Overview
UAE Car Leasing Market Size
UAE Car Leasing Market Segmentation
Competition in UAE Car Leasing Market
Future outlook of UAE Car Leasing Market
UAE Limousine Car Market Overview
UAE Limousine Car Market Size
UAE Limousine Car Market Segmentation
Competition in UAE Limousine Car Market
Industry Analysis
Company Profiles of Car Rental & Leasing companies
Analyst Recommendations
Snapshot of UAE Cab Taxi Market
Snapshot of UAE Cab Aggregator Market
Appendix

For more information on the research report, refer to below link:

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/uae-car-rental-leasing-and-limousine-market-outlook/335273-100.html

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https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/india-self-drive-car-rental-market-outlook/276728-100.html

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ankur@kenresearch.com
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¹ https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/uae-car-rental-leasing-and-limousine-market-outlook/335273-100.html