UAE, August 03, 2016: Initially car rental market in UAE was driven by on-airport car rental services but with the rise in the number of business men and working Emiratis, there has been a rise in the number of number of long term car rentals in the country. The major operators in the industry have reduced car rental expenses, enhanced their fleet size and looked for opportunities in off-airport markets including insurance replacement, while others moved to enter into leisure segment of the market, which has been the possible growth driver of the industry , According to research analyst Ken Research .
Burj Khalifa, Dubai Museum, Bastakia, Sheikh- Saeedu Al- Maktoum House, Dubai Creek and others are some of the prevalent tourist gathering places throughout the year. This has resulted in difficulties in getting a cab to tour the entire place. Car rental market in UAE is mature with majority of the firms operating on “Competitive Pricing” strategy. Firms such as Hertz, Avis Hala, Budget, Europcar and others are one of the major players in UAE car rental market. Thus, the car rental facilities are increasingly being availed by outstation tourists in UAE which has presented an easy, less priced option to relish the trip to the country. Additionally, to ensure best travelling facilities, a large number of car rental companies, operating in UAE provide reasonable prices of rents and various other facilities.
According to research analyst Ken Research The car rental industry in UAE is expected to grow at a robust pace due to an inclination of number of tourist arrivals in the country in future, rise in the number of facilities provided by the car rental services along with the increase in the number of car rental firms. Thus, overall UAE car rental industry, which has grown at a CAGR of 6.4% over the period 2010-2015, is expected to achieve higher growth in the coming years on account of higher migrant population growth and an inclination in the international tourist arrivals in the country with higher demand for self drive car rental market.
UAE has witnessed a surge in the number of jobs and working expats in the country that has led to the rise in the number of takers for car rental. In order to cater to the rise in the demand from travelers for car rental in the country, majority of the car rental firms in UAE have enhanced their fleet size. Projection for the future suggests that the market for car rental is expected to witness promising growth
Ken Research announced its latest publication on “UAE Car Rental and Leasing Market Forecast to 2020 – Demand from Work Expats and E-Bookings to Drive Growth” which provides a comprehensive analysis of the Car Rental Market in Middle East. The report covers various aspects such as market size of UAE car rental and 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 for car rental market in UAE, car leasing market size and segmentation by industry verticals, term of contracts and vehicle type for car leasing market in UAE. The report is useful for industry consultants and analysts, car rental companies and new players venturing in the market, According to research analyst Ken Research.
Corporate Comm India(CCI Newswire)
