NEW YORK, Dec. 19, 2016 /PRNewswire/ --
The report titled "Egypt Car Rental and Leasing Market Forecast to 2020 – Recovering Economy and Improved Transport Infrastructure to Drive Growth" provides a comprehensive analysis of the Car Rental and Leasing Market in Egypt. The report covers various aspects such as market size of Egypt car rental and leasing market on basis of revenues and fleet size, segmentation on the basis of Car Leasing, short term car rental and chauffeur driven car rental, on airport and off airport, regions, mode of booking, purpose of booking, and organizational structure. The report provides insights on vehicle leasing market in Egypt, car leasing market size and segmentation by industry verticals, term of contracts and vehicle type for car leasing market in Egypt. The report also entails the market share and strategies of the major players in the Egypt car rental and leasing market along with the Government rules and regulations governing the market. An analysis of the future Car Rental Market of Egypt is provided on the basis of revenue and fleet size over next five years.
The car rental market in Egypt has been on a downward trend since the past few years from 2010-2015 majorly due to the presence of various obstacles such as local supply, poor roads, GPS, government regulation and poor infrastructure facilities. Various companies in the country have been closed due to the increasing dominance of local companies. Although majority of the business people, students and expats that travel to the country prefer to rent a car for long term/ service tenure. Egypt car rental market has declined at a CAGR of ~%, over the period, 2010-2015 and slumped to USD ~ million in 2015 from USD ~ million in 2010.
There was a decline in the international tourists' arrival which has greatly affected the market for car rental in the country along with poor driving behavior, poorly market roads, lack of road signs and other such factors especially during 2011 and 2013. This has led the market for car rental to decline from USD ~ million in 2010 to USD ~ million in 2013. On the other hand, the continuous revolutions in Egypt from 2011 to 2013 have set the country on a downward path. The improvement of the tourist arrival despite slow start has set the industry to a recovery path as seen in lower decline rate in 2015. The economic summit in Egypt has been a major factor contributing to the tourism recovery.
Despite this fact, there has been a constant incline in the fleet size of the market. From 2010 to 2015, the fleet size has inclined from ~ to ~. Apart from the incline in the fleet size by a CAGR of ~% from 2010-2015, the major players in the industry have also been focusing in the improvement in the quality of the fleet that they are maintaining. The prominent players such as Europcar and Sixt have introduced policies to replace their fleet vehicles after a particular age of their vehicles.
Egypt Car rental market has been differentiated into three segments including car leasing, car sharing and Chauffeur driven car. Car leasing segment dominated the Egypt car rental market with the market share ~% by revenue, in 2015. Short term car rental segment is observed to follow the car leasing segment.
Egypt Chauffeur driven car segment has experienced higher share of ~% in on airport revenues as compared to off-airport in 2015. Majority of the customers in Egypt prefer to book cars online prior to their place of visit in order to avoid hassles of physical booking and availability of car. The proportionate share of the physical and online booking was valued at ~% and ~% respectively in Chauffeur driven car rental market in 2015.
Egypt car leasing has been characterized by a high amount of revenue from the trading companies in comparison to oil and gas companies which account for a higher revenue share in other countries such as UAE and Saudi Arabia.
The announcement of the Red Sea Bridge joining Saudi Arabia and Egypt has provided hopes for the car rental market in the Egypt since a large portion of the car rental market; especially the leasing market is derived by the trading companies. The bridge connecting Saudi Arabia with Egypt will boost trade as the two countries signed 17 agreements to enhance bilateral ties. Thus by connecting the two countries, two continents are joined i.e. Asia and Africa; this will bolster the trade between the two continents through Egypt and Saudi and hence provide an impetus to the car rental market in the country.
The tourism industry is expected to incline to USD ~ billion by 2020 and lead to the development of the car rental market along the way. The car leasing market is expected to grow at a CAGR of ~% and reach over USD 30 million by 2020.
Key Topics Covered in the Report
- The market size of the Egypt Car Rental Market on the basis of Revenue and by fleet size, 2010-2015
- Market segmentation of Egypt Car Rental Market by Business Segment, 2010-2015
- Market segmentation of Egypt Car Rental Market by Chauffeur driven on airport or off airport, 2015
- Market segmentation of Egypt Car Rental Market by booking method, 2015
- Market segmentation of Egypt Car Rental Market by Car Trips, 2015
- Market segmentation of Egypt Car Rental Market by Major Cities, 2015
- Market segmentation of Egypt Car Rental Market by Organized/Unorganized, 2015
- Market segmentation of Egypt Car Leasing Market by Industry Verticals, 2015
- Market segmentation of Egypt Car Leasing Market by Contract Term, 2015
- Market segmentation of Egypt Car Leasing Market by Car Type, 2015
- Trends and Developments in Egypt Car Rental Market
- Government Regulations in Egypt Car Rental Market
- Traveler's Profile by age and gender in Egypt Car Rental Market
- Competitive Landscape of Major Players in Egypt Car Rental Market
- Market Share of Major Players in Egypt Car Rental Market, 2015
- Future Outlook of Egypt Car Rental Market, 2016-2020
- Macro Economic Variables affecting Egypt Car Rental Market, 2010-2020
Read the full report: http://www.reportlinker.com/p04456854-summary/view-report.html
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