New Delhi, August 05, 2016: The market research report on “Egypt Car Rental and Leasing Market Forecast to 2020 – Recovering Economy and Improved Transport Infrastructure to Drive Growth” provides a comprehensive analysis of the Car Rental Market in Egypt. The report covers market size of Egypt car rental and vehicle leasing market on basis of revenues and fleet size, segmentation on the basis of car leasing, short term car rental and chauffeur driven car rental, on-airport and off-airport, regions, mode of booking, purpose of booking, and organizational structure. The report provides snapshot of car leasing market size and segmentation by industry verticals, term of contracts and vehicle type for car leasing market in Egypt. The report is useful for industry consultants and analysts, car rental companies and new players venturing in the market.
The car rental market in Egypt has been on a downward trend since the past few years from 2010-2015 majorly due to the presence of various obstacles such as local supply, poor roads, GPS, government regulation and poor infrastructure facilities. Various companies in the country have been closed due to the increasing dominance of local companies. Although majority of the business people, students and expats that travel to the country prefer to rent a car for long term/ service tenure. Egypt car rental market has declined at a CAGR of 9.7%, over the period, 2010-2015. There was a decline in the international tourists’ arrival as well which has affected the market for car rental in the country along with poor driving behavior, poorly marked roads, lack of road signs and other such factors.
Egypt Car rental market has been differentiated into three segments including car leasing, car sharing and Chauffeur driven car. Car leasing segment dominated the Egypt car rental market by revenue, in 2015. Short term car rental segment is observed to follow the car leasing segment. The segment has experienced decline over the span of five years from 2010 to 2015. Chauffeur driven car segment has gained much demand over the span of five years.
Egypt car leasing has been characterized by a high amount of revenue from the trading companies in comparison to oil and gas companies which accounted for a higher revenue share in other countries such as UAE and Saudi Arabia.
The announcement of the Red Sea Bridge joining Saudi Arabia and Egypt has provided hopes for the car rental market in the Egypt since a large portion of the car rental business especially the leasing segment is derived by the trading companies. The bridge connecting Saudi Arabia with Egypt will boost trade as the two countries signed 17 agreements to enhance bilateral ties. Thus by connecting the two countries, two continents are joined i.e. Asia and Africa; this will bolster the trade between the two continents through Egypt and Saudi and hence provide an impetus to the car rental market in the country. Projection for the future suggests that the market for car rental is expected to witness promising growth.
Corporate Comm India(CCI Newswire)
