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Saudi Arabia Mobility Landscape Shifts Gears: Car-Sharing, Taxis, and Truck Leasing Drive Market Growth to $18.5 Billion by 2027: Ken Research
The Saudi Arabian car-sharing, taxi, and truck leasing market is projected to witness tremendous growth, reaching a staggering , indicating a during the 2022-2027 period. This remarkable expansion is driven by several key factors:
Ken Research provides a comprehensive segmentation of the market based on:
The market features a mix of established players and innovative startups, creating a dynamic environment:
The future of the Saudi Arabian car-sharing, taxi, and truck leasing market is brimming with exciting opportunities:
However, some hurdles require attention:
This report empowers various stakeholders in the Saudi Arabian mobility market:
KSA Carwash Market is expected to reach 1379.7 SAR Mn in 2030 which is valued at 494.1 SAR Mn in 2022. The market is expected to grow with a CAGR of 13.7% during 2022-2030. The market is growing due to various factors like rising vehicle ownership, urbanization and lifestyle changes and helpful expansion of consumers offerings.
The market will grow at a CAGR of 9.8% during 2022-2027 due to increasing tourism industry & improvements in transportation. As the global automotive industry moves towards sustainability, there might be an increase in demand for electric vehicles. Car rental and leasing companies in Kuwait may explore adding electric or hybrid vehicles to their fleets to cater to environmentally conscious customers.
The market will grow at a CAGR of 8.1% during 2022-2027 due to Fleet modernization, economic growth and business tourism. Fleet modernization, incorporating fuel-efficient or electric vehicles, acts as a catalyst for taxi companies in Fujairah . It addresses the environmental concerns and become appealing to the environmentally conscious consumer base.
The GCC is emerging as a prominent automotive hub for various car types, poised to grow at a CAGR of 6.4% from 2023 to 2028. Key growth drivers include a growing population, influx of expatriates, rising income levels, and easy financing options. Rising incomes enable consumers to consider a broader range of vehicles, contributing to market expansion.
Ken Research Private Limited
Ankur Gupta , Director Strategy and Growth
+91-9015378249
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View original content:https://www.prnewswire.co.uk/news-releases/saudi-arabia-mobility-landscape-shifts-gears-car-sharing-taxis-and-truck-leasing-drive-market-growth-to-18-5-billion-by-2027-ken-research-302066033.html