Egypt Truck Leasing & Rental Market to be dominated by Oil & Gas Industry through 2027
Increasing construction activities elevating the demand for
truck rental to drive Egypt truck leasing & rental market in the forecast
period, 2023-2027.
According
to TechSci Research report, “Egypt Truck Leasing & Rental Market - By
Region, Competition Forecast & Opportunities, 2027”,
the Egypt truck leasing & rental
market is anticipated to grow at a rate of steady CAGR for the forecast period,
2023-2027. Automakers have established a financial business arm called captives
and are diversifying into rental, leasing, and finance business. Automakers are
working to develop service models apart from their mainstream vehicle sales
business. Aggressive advertising and lucrative rental offer by OEM captives are
improving market availability and awareness regarding the truck rentals, which
in turn bolsters the growth of truck rental market. Several factors including
the expanding the e-commerce industry and the inflating need to optimize the
operational risks while driving trucks propels the market growth. Along with
this, the truck leasing & rental service are working to improve the
services relating to diagnostic technologies and applications that can generate
real-time insights about the performance of the truck are expected to create
lucrative growth opportunities for the Egypt truck leasing & rental market
in the forecast period.
However,
the lack of sufficient truck leasing and rental service providers and cost and
operational difficulties may limit the market growth in the forecast period.
Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on " Egypt Truck Leasing &
Rental Market"
The Egypt truck leasing & rental market
is segmented into type, lease type, truck type, end use industry, booking,
vehicle type, regional distribution, and competitive landscape.
Based on type, the market is bifurcated into
lease and rental. The leasing type is expected to account for a significant
market share in the forecast period, 2023-2027. Extended time duration in
leasing as compared to rental services. Several prominent companies have strong
budgets to acquire new vehicles and technologies to sufficiently provide for
the requirements of the company. Leasing a truck minimizes the maintenance and
operational costs. They also reduce the risks from the seasonal transportation
demands and provide cost-effective solutions to the end-user companies.
Based on lease type, the market is segmented
into the financial lease, full service/operational lease, and third-party
lease. The full service/operational lease segment is expected to hold the
largest market share in the forecast period. Leasing or booking trucks with
full services eradicate the servicing, maintenance, and replacement cost.
Based on truck type, the market is categorized
into light duty, heavy duty, and medium duty. Heavy duty truck dominates the
market and is expected to maintain their dominance through the upcoming years. The
elevating regulations on the vehicle emissions, logistics, and the retail and
e-commerce industry are supporting the growth for heavy duty trucks.
Based on end use industry, the market is
divided into oil & gas, FMCG, e-commerce, mining, construction, and others.
The oil & gas industry is expected to capture the highest market share in
the forecast period. The oil & gas industry is the largest
revenue-generating industry in the country. Oil & gas reserves are
extracted and transported to other locations for processing by using the
trucks, as the construction of pipelines is not feasible at every location.
Based on booking, the market is
bifurcated into offline and online. The offline segment is expected to hold the
largest market share in the forecast period. The presence of many offline
stores providing truck leasing and rental services is driving the segment
demand.
Significant market players operating in
the Egypt truck leasing & rental market are:
- Traxl
- Travelscape LLC
- Europcar Egypt
- TruKKer Holding
- Reftruck Egypt
- Sixt
- Naqla
- NOSCO Egypt
- DP World Sokhna
- Trella
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“The rising smartphone penetration and
availability of high-speed internet connection has elevated the dependency on
technology to pay for and book rental services, which offers lucrative growth
opportunities to the market players. The growing adoption of online sales
channels by the market players has increased their presence across remote
locations and made the consumer aware of the advantages of availing of truck
services. The inflating need for truck leasing and rental services among the
consumers at affordable rates and can easily avail the services by comparing
the prices and choosing the best option for them. Additionally, a rise in the
number of market players offering services on online sales channel and a shift
in consumer preference to buy through online platforms is further projected to catalyze
the Egypt truck leasing & rental market growth till 2027” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Egypt Truck Leasing
& Rental Market By Type (Lease, Rental), By Lease Type (Financial Lease,
Full Service/Operational Lease, Third Party Lease), By Truck Type (Lighuty,
Heavy Duty, Medium Duty), By End Use Industry (Oil & Gas, FMCG, E-Commerce,
Mining, Construction, Others), By Booking (Online, Offline), By Vehicle Type
(Fully Build, Customizable), By Region, Competition Forecast &
Opportunities, 2027”, has evaluated the future
growth potential of Egypt truck leasing & rental market and provides
statistics & information on market size, structure and future market growth.
The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Egypt truck leasing & rental market.
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