Self-driving segment is likely to be the fastest growing segment, which is expected to grow at a CAGR of 12.4% through 2025.
NEW YORK, NEW YORK, UNITED STATES, February 13, 2020 /EINPresswire.com/ — Goldstein Research recently published a report, titled, " UAE Car Rental & Leasing & Leasing Market Outlook 2025: Opportunity & Growth Analysis." As per the report, UAE car rental & leasing industry is expected to grow at a CAGR of +9% through 2025. The latest trend gaining momentum in the market is introduction of value-for-money car rental & leasing services. Players in the car rental & leasing industry are focusing on providing low-cost car services, especially for leisure markets.
Drivers, restraints, and opportunities
Rapid pace of urbanization, government initiatives such as introducing favorable motor vehicle act¸rising disposable income of the population & Advancement in technology fuel the growth of UAE Car Rental & Leasing Market. On the other hand, small share of organized sector, challenge to build brand awareness & to provide the right information and complete transparency to their customers restrain the growth to some extent. However, development in emerging markets is expected to create an array of opportunities for the key players in the industry.
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Self-driving segment is likely to be the fastest growing segment through 2025
Government is also providing the driving privileges for foreign tourists, making them eligible for driving a vehicle across the country with valid driving license and passports. Such favorable regulations and rising number of foreign tourists across major geographies has significantly driven the self-driving car rental & leasing market. Self-driving segment is likely to be the fastest growing segment, which is expected to grow at a CAGR of 12.4% through 2025.
Price competition between different hiring services is mainly focused on the pre-booked service
Price competition between different hiring services is mainly focused on the pre-booked service, since in the hailing market, taxis still maintain the monopoly. As clarified by the respondents to the stakeholder consultation, in the pre-booked segment, there is strong competition of hire transport intermediaries and dispatch centres/taxi apps. In this context, also short-distance ridesharing intermediaries are trying to enter the segment, focusing on lower prices and geographic coverage where the taxi offering is low (in particular, suburbs with high taxi pre-booking prices).
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“UAE Car Rental & Leasing Market Outlook, 2025” by Goldstein Research contains a detailed overview of the UAE car rental & leasing market. The report highlights the competitive outlook of major UAE players that includes business strategies, product portfolio, revenue distribution, financial analysis, services innovations, and investments. The in-depth analysis of car rental & leasing market report will help the clients to assess their business strategies as per the competitive environment in the market space.
Major players of the UAE car rental & leasing market discussed in the report are:
• Hertz Corporation
• Avis Corporation Regency
• Strong car rental
• Auto rent
• Market Rent- A- Car
• Al- Mulla
• Fast Rent A Car
• City Car
• Al Sayer
Further, the report encompasses the major trends & growth opportunities, market dynamics, and other growth factors. It also comprises of key challenges for the market players, risk analysis, SWOT Analysis, BPS analysis, and Market Attractiveness. The report also includes the expert analysis which provides a complete overview of the market post analysis of the economic, political, environmental & social factors of each region and country.
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Source: EIN Presswire