IMARC Group has published a market research report titled “GCC Car Rental Market Report by Booking Type (Offline Booking, Online Booking), Rental Length (Short Term, Long Term), Vehicle Type (Luxury, Executive, Economy, SUVs, and Others), Application (Leisure/Tourism, Business), End-User (Self-Driven, Chauffeur-Driven), and Country 2024-2032“, The GCC car rental market size is projected to exhibit a growth rate (CAGR) of 12.87% during 2024-2032.
Car rental, also known as car hire, is a service that allows individuals to temporarily use a vehicle for a set period in exchange for a fee. It is a popular option for travelers, tourists, and those in need of temporary transportation. Car rental companies typically maintain a fleet of vehicles ranging from economy cars to luxury vehicles, SUVs, vans, and even trucks, offering consumers a wide variety of options to suit their needs. Consumers can rent vehicles for various purposes, including vacations, business trips, special events, or simply as a temporary replacement while their own vehicle is being serviced. Car rental agreements typically include terms such as the duration of the rental, mileage restrictions, insurance coverage, and any additional fees or charges. Many car rental companies also offer additional services such as GPS navigation systems, child car seats, and roadside assistance for added convenience and peace of mind. With the flexibility and convenience it provides, car rental has become an integral part of modern transportation infrastructure, offering individuals the freedom to explore new destinations and travel comfortably wherever their journey may take them. Whether for leisure or business, car rental services cater to a wide range of needs, making it a convenient and practical solution for travelers worldwide.
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GCC Car Rental Market and Drivers
The GCC region is a popular destination for tourists and business travelers alike, with countries, such as the UAE (United Arab Emirates), Saudi Arabia, Qatar, Oman, Bahrain, and Kuwait attracting millions of visitors annually. The increasing influx of tourists and business travelers has created a significant demand for rental cars to facilitate transportation during their stay. Additionally, the strategic location of the region as a transit hub between Asia, Europe, and Africa further fuels the need for rental cars among transit passengers. Additionally, the GCC countries have experienced rapid economic growth and urbanization over the past few decades, leading to the development of modern infrastructure and the expansion of cities. This growth has resulted in higher disposable incomes among the population, increased employment opportunities, and a growing middle class with a propensity for travel and leisure activities. As a result, there is a greater demand for rental cars, both for local residents and expatriates, who require transportation for daily commuting, weekend getaways, and other purposes. Other than this, the GCC region has a large expatriate population, comprising individuals from diverse nationalities who reside in the region for employment, business, or educational purposes. Expatriates often rely on rental cars as a convenient and flexible mode of transportation, especially since they may not own a vehicle or prefer not to purchase one due to short-term stays or visa restrictions. This demographic segment constitutes a significant portion of the consumer base of car rental market.
Report 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
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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