- Growth rate of total car rental is going to increase over the period as car leasing becomes easier, and market penetration rates increase in the country.
- With rising internet penetration and ownership of smartphones, it is expected that customers will make bookings online as it is more convenient for bookings with additional discounts and saving time.
- The tourism sectors in cities like Cairo and Giza are expanding, which is expected to have a beneficial impact on the Egypt car rental market growth.
Inflow of Investments: The Egypt Car Rental Market will expand in the coming years as a result of the increased focus of car rental companies on corporate clients due to increase in foreign travelers. With this trend, the inflow of investments will increase in the future. For Instance, Zoomcar, the world's largest emerging market focused car sharing marketplace, is looking to double its investments in Egypt in the coming three years. The India-based firm initially said it would spend ~ millions over a three-year period when it launched in Cairo in October. The car rental startup also wants to significantly ramp up its customer base by the end of 2022.
Government Initiatives: The government's initiative will attract tourism in the country and is expected to contribute to the overall market growth. Red Sea Bridge which will join Saudi Arabia and Egypt will a become a major growth booster for the car rental market in the Egypt as the majority of the business in car rental market is derived by the trading companies. The bridge connecting Saudi Arabia with Egypt will boost trade between the two countries. Both the countries have signed 17 agreements to enhance bilateral ties. Furthermore, other government investments in building infrastructure for electric vehicle will be a major reason for growth in car rental market in the future.
Increase in Electric vehicle manufacture: The share of EVs is expected to increase many folds as Egypt plans to shift to electric mobility and plans to begin subsidizing electric vehicle. On the infrastructure side, the government is still working on plans to establish a nationwide charging network. In other efforts to advance the industry, Egypt’s House of Representatives just gave its final approval to a bill that will establish a new regulatory body to set policy for auto assembly in the country, including EVs, and provide financial incentives for manufacturers.
Analysts at Ken Research in their latest publication “Egypt Car Rental Market Outlook to 2027F - Driven by Increasing Internet penetration, On-Demand Services, boost in tourism and Government Initiatives in infrastructure” observed the potential of the Car Rental Market in Egypt. With the boost in tourism sector in Egypt, increasing trend for On- Demand services, rising internet penetration along with government initiatives on infrastructure and electric vehicles are expected to contribute to the market growth over the forecast period. The Egypt Car Rental Market is expected to grow at ~% CAGR over the forecasted period 2022-2027F.
Key Segments Covered:-
Egypt Car Rental Market
By Market Structure, 2022 & 2027F
Organized market
Unorganized market
By Type of Vehicles, 2022 & 2027F
Small Cars/ Hatchbacks
Sedans
SUVs
Others
By ICE/EV, 2022 & 2027F
ICE (Internal Combustion Engine)
Electric Vehicles
By Cities, 2022 & 2027F
Cairo
Alexandria
Giza
Qalyubia
Port Said
Suez
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By Mode of Booking, 2022 & 2027F
Online
Offline
By Time Duration, 2022 & 2027F
Long
Short
By Pick-up, 2022 & 2027F
Off-Airport
On-Airport
Key Target Audience:-
Car Rental Service Providers
Car Rental Companies aiming to establish in Egypt
Egypt’s automotive industries
Government Bodies & Regulating Authorities
Venture Capitalist targeting the car rental market
Automotive industry association
Car Manufacturers
Existing Car Rental Companies
OEM Dealerships
New Market Entrants
Investors
Car Rental Associations
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Time Period Captured in the Report:-
Historical Year: 2017-2022
Base Year: 2022
Forecast Period: 2022– 2027F
Companies Covered:-
Kayak
Sixt
Europcar
Avis Rent a Car System LLC
Locanfy
Bikebookig.com
TruKKer Holding
Reftruck Egypt
Enterprise Holdings, Inc.
VIPCars.com
Key Topics Covered in the Report:-
Overview, Operating Models and Company Profile of the Automotive Industry in the Egypt, 2022
Overview and Genesis of Car Rental Market in Egypt, 2022
Ecosystem of Egypt Car Rental Market
Business Cycle, Timeline, and Value Chain Analysis of Car Rental Market in Egypt
Egypt Car Rental Market Sizing, 2017- 2022P
Market Segmentations of Car Rental Market in Egypt (by Market Structure, by Type of Vehicle, by ICE/ EV, by Mode of Booking, by Pick-up, by Client, by cities), 2022
SWOT Analysis of Egypt Car Rental Market
Growth Drivers of Egypt Car Rental Market
Government regulations of Egypt Car Rental Market
Government Incentives and Policies on Electrification in Egypt
Trends and Developments of Egypt Car Rental Market
Challenges of Egypt Car Rental Market
Competitive Analysis of Car Rental Market in Egypt
End User Analysis of Car Rental Market in Egypt
Future Outlook and Projections of Car Rental Market in Egypt, 2022-2027F
Market Opportunities and Analyst Recommendations
For more information on the research report, refer to below link:-
Related Reports by Ken Research:-
Netherlands Car Rental Market Outlook to 2027F
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