UAE Car Rental, Leasing, and Limousine Market: Projected to Reach AED 14.3 Billion by 2027

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Feb 05, 2024, 03:55 ET

In-Depth Analysis by Ken Research

GURUGRAM, India, Feb. 5, 2024 /PRNewswire/ -- The UAE Car Rental, Leasing, and Limousine Market, as analyzed by Ken Research, is anticipated to grow to AED 14.3 billion by 2027, demonstrating a CAGR of 6.4% from 2022. This growth trajectory is a testament to the dynamic nature of the UAE's transport sector, reflecting an evolving landscape shaped by increasing tourism, business travel, and a growing expatriate population.

Market Evolution and Transformation

Since 2017, the market has shown consistent growth, evolving from a value of AED 8090.9 million to AED 10478.6 million in 2022. This progression is driven by a diversified market structure and a blend of organized and unorganized sectors, with small fleet operators holding the largest market share of 45.6%.

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Segmentation and Dominance by Region

Dubai remains the leading region in the market, attributable to its dense concentration of government and corporate offices, and substantial wealth inflows. Abu Dhabi follows, with its diversifying corporate climate boosting demand for car leasing. The market segmentation reveals a majority preference for economy cars, accounting for 65% of the market share, due to their affordability and availability.

Competitive Landscape and Key Players

The market is moderately fragmented, with major players like Emirates Transport, Thrifty Rent a Car, and Leaseplan holding a significant stake. Emirates Transport leads in fleet size with 13,800 vehicles, while in the limousine segment, Private Limousine boasts the largest fleet size with 200 cars.

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Emerging Trends and Market Dynamics

The influx of tourists and rapidly changing infrastructure in the UAE have increased the demand for short-term car rental services. In the limousine market, standard limos are popular for their practicality and versatility, suitable for various occasions.

Future Market Projections and Growth Factors

With the government's goal of attracting 40 million tourists by 2031, as per the UAE Tourism Strategy 2031, the market is poised for growth. The shift towards e-hailing services, driven by collaborations like that between the RTA of Dubai and Careem, is anticipated to boost the market further.

Ken Research: The Authority in Market Analysis

For a detailed and authoritative analysis of the UAE Car Rental, Leasing, and Limousine Market, turn to Ken Research. Our extensive report provides comprehensive insights into market trends, competitive landscapes, and strategic predictions for the future. Explore our research offerings at Ken Research for unparalleled market intelligence in this sector.

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Taxonomy

By Type of Vehicle

Economy

SUV

Luxury

By Type of End-User

Commercial

Private

Government

By Type of Gender

Standard Limousine

Large Sized Limousine

Premium Limousine

Ultra Luxury Limousine

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UAE Car Rental Leasing and Limousine Market

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