Middle East and Africa Luxury Car Leasing Market, By Type (Compact Luxury Cars, Mid-Size Luxury Cars, Full-Size Luxury Cars, Luxury Crossovers and Minivans and Luxury SUVs), Rental Type (Business, Leisure), Term (Short-term rental, Long-term rental, Finance leasing), Category (Self-Driven, Chauffeur-Driven), Applications (Airport, Off-airport), End User (Local Usage, Airport Transport, Outstation, Others), Booking Mode (Online, Offline) - Industry Trends and Forecast to 2030.
Middle East and Africa Luxury Car Leasing Market Analysis and Size
Luxury car leasing is basically renting expensive luxury cars which provide unmatched levels of comfort and overall quality and performance and also consists of top-end features and extraordinary lavish interior and a robust security system consisting of the latest technologies. The major factors that are expected to boost the growth of the Middle East and Africa luxury car leasing market in the forecast period 2023-2030 are the massive growth and expansion of automobile industry and lowering rate of car ownership.
Data Bridge Market Research analyses that the Middle East and Africa luxury car leasing market which was USD 2.5 billion in 2022, is expected to reach USD 5.2 billion by 2030, and is expected to undergo a CAGR of 10.5% during the forecast period 2023-2030. This indicates the market value. “Compact Luxury Cars” dominates the type segment of the Middle East and Africa luxury car leasing market due to compact luxury cars are often more fuel-efficient compared to larger luxury vehicles. Given the rising fuel costs in some regions of the Middle East and Africa, consumers may prefer smaller vehicles to mitigate fuel expenses. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Middle East and Africa Luxury Car Leasing Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable from 2015 to 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Compact Luxury Cars, Mid-Size Luxury Cars, Full-Size Luxury Cars, Luxury Crossovers and Minivans and Luxury SUVs), Rental Type (Business, Leisure), Term (Short-term rental, Long-term rental, Finance leasing), Category (Self-Driven, Chauffeur-Driven), Applications (Airport, Off-airport), End User (Local Usage, Airport Transport, Outstation, Others), Booking Mode (Online, Offline)
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Countries Covered
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Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa
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Market Players Covered
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Porsche India (India), Enterprise Holdings, Inc. (U.S.), Zoomcar India Private Limited (India), Hertz (U.S.), LeasePlan (Netherlands), Avis Budget Group (U.S.), mychoize (India), Sixt (Germany), Europcar (France), Localiza (Brazil), aldautomotive (France), Movida (Brazil), Unidas (Brazil), Goldcar (Spain), smasindia (India), ORIX Auto Infrastructure Services Ltd (India), eHi Auto Services Limited (China), Fox Rent A Car (U.S.)
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Market Opportunities
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Market Definition
The luxury car leasing can be defined as the sector of the automotive industry focused on providing high-end, premium, and luxury vehicles to individuals and businesses on a lease or rental basis within the geographical regions of the Middle East and Africa. This market typically includes luxury cars and SUVs from renowned brands, offering customers the opportunity to access and drive these vehicles without the long-term commitment of ownership.
Middle East and Africa Luxury Car Leasing Market Dynamics
Drivers
- Growing Demand for Luxury Cars
The Middle East and Africa region is home to a growing number of high-net-worth individuals and affluent households. These individuals and households are increasingly seeking out luxury cars, and leasing can be a more affordable and flexible option than purchasing a luxury car outright.
- Increasing Urbanization in Middle East and Africa
The MEA region is also experiencing rapid urbanization, which is leading to a growing demand for transportation. Luxury car leasing can provide a convenient and hassle-free way for people to get around in urban areas.
- Rising Incomes and Wealth
The MEA region is home to a growing number of high-net-worth individuals and affluent households. These individuals and households are increasingly seeking out luxury cars, and leasing can be a more affordable and flexible option than purchasing a luxury car outright.
Opportunities
- Growing Availability of Online Luxury Car Leasing Platforms
Online luxury car leasing platforms make it easier for people to compare leasing offers and to find the best deal on a luxury car lease.
Restraints/ Challenges
- High Import Duties
Import duties on luxury cars can be high in some countries in the MEA region. This can make the cost of leasing a luxury car more expensive.
- Competition from other Forms of Transportation
There are a number of other forms of transportation available in the MEA region, such as taxis, ride-hailing services, and public transportation. These other forms of transportation can be more affordable and convenient than luxury car leasing.
This Middle East and Africa luxury car leasing market report provide details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Middle East and Africa luxury car leasing market Contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In April 2022, Porsche Middle East is poised to introduce a range of new models to its product lineup. These include the latest iteration of the Macan, the debut of the GTS version for the Taycan saloon, the highly anticipated 911 GT3, the 718 GT4 RS, and the introduction of the Panamera Platinum Edition
- In November 2021, Hertz UAE showcased its Drive Green service for a duration of two weeks. This exhibit will prominently feature an advanced presentation of electric and hybrid vehicles, aligning with our commitment to sustainable transportation solutions
Middle East and Africa Luxury Car Leasing Market Scope
The Middle East and Africa luxury car leasing market is segmented on the basis of type, rental type, term, category, applications, end user and booking mode. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Compact Luxury Cars
- Mid-Size Luxury Cars
- Full-Size Luxury Cars
- Luxury Crossovers And Minivans
- Luxury Suvs
Rental Type
- Business
- Leisure
Term
- Short-Term Rental
- Long-Term Rental
- Finance Leasing
Category
- Self-Driven
- Chauffeur-Driven
Application
- Airport
- Off-Airport
End User
- Local Usage
- Airport Transport
- Outstation
- Others
Booking Mode
- Online
- Offline
Middle East and Africa Luxury Car Leasing Market Country Analysis/Insights
The Middle East and Africa luxury car leasing market is analysed and market size insights and trends are provided by country, type, rental type, term, category, applications, end user and booking mode, as referenced above.
The country covered in the Middle East and Africa luxury car leasing market report is South Africa, Saudi Arabia, U.A.E., Israel, Egypt and rest of Middle East and Africa.
Saudi Arabia dominates in the Middle East and Africa luxury car leasing market due to Saudi Arabia has a substantial population of high-net-worth individuals and affluent expatriates who can afford luxury vehicles. The country's oil wealth has contributed to a strong consumer base for luxury car leasing. U.A.E. is fastest growing country in the Middle East and Africa luxury car leasing market due to U.A.E., especially Dubai and Abu Dhabi, attracts millions of tourists annually, many of whom seek luxury transportation options to explore the country's attractions and experiences.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Middle East and Africa brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Middle East and Africa Luxury Car Leasing Market Share Analysis
The Middle East and Africa luxury car leasing market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Middle East and Africa presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the Middle East and Africa luxury car leasing market.
Some of the major players operating in the Middle East and Africa luxury car leasing market are:
- Porsche India (India)
- Enterprise Holdings, Inc. (U.S.)
- Zoomcar India Private Limited (India)
- Hertz (U.S.)
- LeasePlan (Netherlands)
- Avis Budget Group (U.S.)
- mychoize (India)
- Sixt (Germany)
- Europcar (France)
- Localiza (Brazil)
- aldautomotive (France)
- Movida (Brazil)
- Unidas (Brazil)
- Goldcar (Spain)
- smasindia (India)
- ORIX Auto Infrastructure Services Ltd (India)
- eHi Auto Services Limited (China)
- Fox Rent A Car (U.S.)
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