Rising
corporate travel activity, growth in end user industries and increasing
importance of workforce mobility will be the major growth drivers of Kuwait
vehicle leasing market in the coming years.
Kuwait vehicle leasing industry
is relatively concentrated among the top 5 players in the industry during 2018. In
terms of revenue, the Kuwait vehicle leasing market grew robustly from the
previous year majorly owing to growth in Oil and Gas and logistics &
transportation sector. The vehicle leasing market has grown over the years with
the growth in the number of players in the industry backed up with increasing
preference for leasing a vehicle rather than owing the fleet by companies. The
growing number of small and large businesses in the construction and logistics sector
in the country has also surged the demand for long term vehicle leasing services
in Kuwait.
The report titled “Kuwait
Vehicle Leasing Market Outlook to 2023- By Type of Vehicle (SUV/MUV, Sedan,
Pickups and Luxury Segment) and By End Users (Oil & Gas, Government,
Construction, Logistics and Transportation, Telecom and Electrical and Others)”
by
Ken Research suggested that better value added services, shorter delivery
period, lower annual payments, wide portfolio of vehicles, lower upfront cash
outlay, comprehensive insurance coverage, negligible registration cost and
better technology interface for customers will majorly contribute to the
overall revenue growth of Kuwait vehicle leasing market in next 5 years till
2023.
Increasing competition in
the market has raised the quality of services offered by vehicle leasing
companies in the country, which has attracted more number of customers. The long
term car rental market/vehicle leasing market has witnessed increasing presence
of multinational companies growing their presence in untapped markets/regions
and consistently focusing on increasing their fleet size with focus on adding
value added service into their service portfolio. Over the years, industry has
witnessed cut-thought competition owing to short profit margins which has
resulted in the companies to improve their service portfolios. Car dealers
which operate into long term leasing, manage to provide lease contracts at a
relatively lower price compared to car rental companies. Major target end users
for car dealers are government sector which are highly price conscious. Car rental
companies, on the other hand charges a higher price but offer specialized
services to their customers such as On-road assistance, Insurance coverage and
other services which car dealers fails to offer. Growth in IT, Telecom, Travel,
FMCG industries has also led to greater demand for number of vehicle leased and
as well to extend their existing vehicle leasing agreements with increase in
number and type of fleet.
Key
Segments Covered:-
By
Type of Fleet:
SUV/MUV
Sedan
Luxury Segment
Pickups
By
End User Sectors:-
Oil and Gas
Government
Construction
Logistics and Transportation
Others (FMCG, ITES, Telecom,
Financial Institutions, Healthcare, Individuals and related industries)
By
Type of Vendors:-
Vehicle Dealer
Vehicle Leaser
By
Type of Regions:-
Southern Region
Northern Region
Central Region
Key
Target Audience:-
Vehicle Leasing Companies
Vehicle Dealers
Car Rental Companies
Government Bodies
Industry Associations
Venture Capitalist/Investors
Time
Period Captured in the Report:-
2013-2018 – Historical
Period
2018-2023 – Future Forecast
Companies
Covered:-
Automak, Aayan Auto, Al
Sayer, Al Mulla, Sefeena, KGL, Autolease, Rasameel Autolease, Hertz, Apatchi
Osoulhouse, Apatchi, Autolease, Mutawa Alkazi Company, Automall Vehicle Rental,
Value Plus, Mustafa Karam Co and Others.
Keywords:-
Car Leasing Market In Kuwait
Kuwait Car Leasing Market
Research Report
Market Research Report For
Kuwait Car Leasing Market
Vehicle Leasing Market In
Kuwait
Kuwait Vehicle Leasing
Companies
Car Rental Industry Kuwait
Pricing Vehicle Leasing In
Kuwait
Kuwait Vehicle Leasing
Market Size
Kuwait Car Rental Leasing
Future Growth
Future Kuwait Car
Rental/Leasing
Major Companies In Car
Leasing Market In Kuwait
Automak Car Rental Leasing
Market Share In Kuwait
Industry Research Report For
Kuwait Vehicle Leasing Market
Industry Research Report For
Kuwait Car Leasing Market
For
more information on the research report, refer to below link:-
Related
Reports:-
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
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