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Written by Aarun » Updated on: March 18th, 2025
Saudi Arabia Car Rental And Leasing Market Overview
Market Size in 2024: USD 2.8 Billion
Market Forecast in 2033: USD 3.6 Billion
Market Growth Rate: 2.90% (2025-2033)
According to the latest report by IMARC Group, the car rental and leasing market in Saudi Arabia was valued at USD 2.8 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 3.6 Billion by 2033, exhibiting a CAGR of 2.90% from 2025-2033.
Saudi Arabia Car Rental And Leasing Industry Trends and Drivers:
The Saudi Arabia car rental and leasing market is currently witnessing significant growth, propelled by several key factors that are reshaping the transportation landscape. Increasing urbanization, coupled with the rising need for flexible mobility solutions, is driving demand for both car rental and leasing services. As more individuals and businesses seek cost-effective alternatives to car ownership, the popularity of car leasing is surging, particularly among consumers looking for long-term rental options. Additionally, the market is benefiting from the integration of advanced technologies such as telematics and data analytics, which are helping rental companies improve fleet management and customer experience. By leveraging these technologies, service providers can offer more efficient and personalized services, further enhancing the appeal of car rentals and leases. The rising popularity of these services is also attributed to the convenience of online booking platforms, which are simplifying the rental process for consumers and boosting overall market growth.
The vehicle type and body style segment within the Saudi Arabia car rental and leasing market is experiencing dynamic shifts, with consumers gravitating toward both economy and premium vehicles. While budget-friendly vehicles like hatchbacks and sedans continue to dominate the car rental sector, luxury and multi-utility vehicles (MUVs) are seeing increased demand in leasing agreements, especially among business professionals and expatriates. As Saudi Arabia continues to grow as a major business hub in the Middle East, the need for premium vehicles for corporate purposes is rising. Furthermore, the shift towards electric vehicles (EVs) and hybrid models is gradually gaining momentum in the rental and leasing space, driven by both consumer interest in eco-friendly options and government incentives promoting sustainability. These trends are expected to influence the composition of rental fleets, with companies diversifying their offerings to meet changing consumer preferences for both fuel-efficient and luxury vehicles.
Looking ahead, the market is poised for steady growth, with the rise of mobility-as-a-service (MaaS) platforms playing a pivotal role in shaping future market trends. Collaborations between ride-sharing services and car rental companies are becoming increasingly common, creating new opportunities for consumers to access vehicles on-demand. These partnerships are enhancing the convenience and flexibility of car rental services, which is expected to fuel further growth in the coming years. Additionally, the expansion of online booking systems is making it easier for consumers to access car rental and leasing services, thereby improving accessibility and broadening the consumer base. As sustainability remains a key concern, the growing emphasis on reducing the environmental impact of transportation will drive the adoption of electric and hybrid vehicles in rental fleets. Overall, the Saudi Arabia car rental and leasing market is evolving to meet the needs of a modern, mobile society, positioning itself for continued success throughout the forecast period.
Download sample copy of the Report: https://www.imarcgroup.com/saudi-arabia-car-rental-leasing-market/requestsample
Saudi Arabia Car Rental And Leasing Industry Segmentation:
The report has segmented the market into the following categories:
Type Insights:
Vehicle Type Insights:
Vehicle Body Style Type Insights:
Booking Type Insights:
Regional Insights:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
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.
Ask analyst for your customized sample: https://www.imarcgroup.com/request?type=report&id=16453&flag=C
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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IMARC Group
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