Saudi Arabia’s truck leasing and rental market was valued at USD3,334.48 million in the year 2021, and the market is anticipated to grow in the forecast period with a CAGR of 6.51% in terms of value in the period 2022-2027. Click : https://bit.ly/3MeHvDT

1. MARKET INTELLIGENCE . CONSULTING
www.techsciresearch.com
SAUDI ARABIA TRUCK LEASING AND RENTAL MARKET
2017 – 2027
FORECAST AND OPPORTUNITIES
Published: March 2022

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S. No. Contents
1. Service Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Factors Influencing Decision Making
4.2. Customer Satisfaction
4.3. Brand Recall
5. Impact of COVID-19 on Saudi Arabia Truck Leasing and Rental Market
6. Saudi Arabia Truck Market Overview
7. Saudi Arabia Truck Leasing and Rental Market Overview
8. Saudi Arabia Truck Leasing and Rental Market Outlook
8.1. Market Size and Forecast
8.1.1. By Value
8.2. Market Share and Forecast
8.2.1. By Lease Type (Finance Lease, Full Service/Rental)
8.2.2. By Truck Type (Heavy Duty, Medium Duty)
8.2.3. By End Use Industry (Oil & Gas, FMCG, E-Commerce, Mining, Construction, Others)
8.2.4. By Booking (Online, Offline)
8.2.5
By Region (Western Region, Northern and Central Region, Eastern Region, Southern
Region)
8.2.6. By Company (2021)
8.3. Market Map (By Lease Type, By Truck Type, By Application, By Booking, By Region)
Table of Contents

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S. No. Contents
9. Saudi Arabia Truck Finance Lease Market Outlook
9.1. Market Size and Forecast
9.1.1. By Value
9.2. Market Share and Forecast
9.2.1. By Truck Type
9.2.2. By End Use Industry
9.2.3. By Booking
10. Saudi Arabia Truck Full Rental Market Outlook
10.1. Market Size and Forecast
10.1.1. By Value
10.2. Market Share and Forecast
10.2.1. By Truck Type
10.2.2. By End Use Industry
10.2.3. By Booking
11. Market Dynamics
11.2. Drivers
11.2. Challenges
12. Market Trends and Developments
13. Policy and Regulatory Landscape
14. Saudi Arabia Economic Profile
15. Competitive Landscape
15.1. Yanal Finance Company
15.2. Saudi Transport & Investment Co. (Mubarrad)
Table of Contents

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S. No. Contents
15.3. Fraikin Dayim Truck Rental Ltd
15.4. Aljozoor Alrasekha Trucking Ltd. (Rahaal)
15.5. Trukker Holding Limited
15.6. Neeraan International Contracting Company
15.7. Imad Company for Trading & Contracting
15.8. Trukkin Middle East FZ-LLC
15.9. Federal Wave Specialized Contracting Establishment
15.10. Spark Arabia
16. Strategic Recommendations
17. About Us and Disclaimer
Table of Contents

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SERVICE OVERVIEW

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Review Period
2017 – 2020
Base Year
2021
Estimated Year
2022
Forecast Period
2023 – 2027
Year Range
Truck rental refers to the use of trucks for a short period of time and is often
priced based on daily use. Truck rental is also referred to as short-term leasing.
Truck leasing is held for a longer duration than a rental service, typically over
three to five years, and it allows customers to make a monthly payment to use
the trucks.
Market Segmentation
BOOKING
• Online
• Offline
• Finance Lease
• Full Service/Rental
LEASE TYPE
TRUCK TYPE
• Heavy Duty
• Medium Duty
Scope of Report
Service of Interest (SOI): Truck Leasing and Rental
END USE INDUSTRY
• Oil & Gas
• FMCG
• E-Commerce
• Mining
• Construction
• Others
REGION
• Western Region
• Northern and Central
Region
• Eastern Region
• Southern Region
Saudi Arabia Truck Leasing
and Rental Market

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RESEARCH METHODOLOGY

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✓ Identifying Key Opinion
Leaders
✓ Questionnaire Design
✓ In-depth Interviews
Data
Collection
Developing List
of Respondents
Formulating
Questionnaire
Market
Profiling
Data
Validation
Data
Analysis
In-depth secondary
research was conducted to
determine top players in
the Saudi Arabia truck
leasing and rental market,
overall market size and
segmental market size.
In order to conduct
industry experts’
interviews, TechSci
formulated a detailed
discussion guide.
List of industry
players and industry
specialists was
developed.
TechSci conducted
interviews with
industry experts and
industry players for
data collection and
verification.
Data obtained as a
result of primary
and secondary
research was
validated through
rigorous
triangulation.
The data was scrutinized
using MS-Excel, statistical
tools and internal
proprietary database to
obtain qualitative and
quantitative insights about
the Saudi Arabia truck
leasing and rental market.
Data
Collection
Data Filter
and Analysis
Research and
Intelligence
Actionable
Insights
Business
Solution
Primary Research Desk Research Company Analysis
✓ Recent Developments
✓ Market Changing
Aspects/Dynamics
✓ Government Policies
✓ Conclusion
✓ Market Participants
✓ Key Strengths
✓ LinkedIn
✓ TechSci Internal
Database
✓ Factiva
✓ Hoovers
Paid Sources
✓ Company Websites
✓ Company Annual
Reports
✓ White Paper Study
✓ Financial Reports
✓ Investor
Presentations
✓ Regulatory Body
✓ Associations, etc.
Secondary
Research
Primary Research
Research Methodology

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Baseline Methodology
Our dedicated team of industry experts has monitored and analyzed various aspects of the Saudi Arabia truck leasing and rental
market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors
such as increasing demand from logistics and construction activities. The study includes market forecasting, which would enable
our clients to take better decisions while planning their strategy to achieve sustainability in the Saudi Arabia truck leasing and
rental market.
Methodology Followed for Calculation of Market Size:
• Market Size by Value: Market size, in terms of value, for the year 2021 was calculated based on information collected through
exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as truck leasing and
rental companies, channel partners, market influencers and end users, industry experts, and other industry participants.
• The team interviewed 15 truck leasing and rental companies, 100 end users, and 20 industry experts and other value chain
stakeholders in the Saudi Arabia truck leasing and rental market to obtain the overall market size from 2017 to 2021, which was
validated by the Delphi technique.
• Respondents were asked about the current and future market growth rates, market shares by lease type, by truck type, by end
use industry, by booking, by company and by region. Removing the outlier responses, the geometric mean of growth estimates
Research Methodology

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and provider wise revenue shares generated across various segments were considered, to arrive at the final revenue shares.
Revenue shares generated across various segments were further triangulated from other stakeholders.
Methodology Followed for Calculation of Market Shares:
• Market by lease type, by truck type, by end use industry, by booking, by company and by region were calculated based on the
responses received through primary surveys with industry experts, in which the respondents were asked about the market
shares or revenue generated from various segments of Saudi Arabia truck leasing and rental market. The final shares were
calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers.
Methodology Followed for Forecasting:
• TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey
results.
• Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast
Saudi Arabia truck leasing and rental market, TechSci Research used various forecast techniques such as:
✓ Moving Average
✓ Time Series Analysis
✓ Regression Analysis
✓ Econometric and Judgmental Analysis
Research Methodology

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TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci
Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate
market numbers. The currency used in the report is the United States Dollar (USD), with the market size indicated in USD million.
Partial List of Companies Interviewed Key Secondary Sources
▪ Yanal Finance Company
▪ Saudi Transport & Investment Co.
(Mubarrad)
▪ Fraikin Dayim Truck Rental Ltd
▪ Aljozoor Alrasekha Trucking Ltd. (Rahaal)
▪ Trukker Holding Limited
▪ Neeraan International Contracting Co.
▪ Imad Company for Trading & Contracting
▪ Trukkin Middle East FZ-LLC
▪ Federal Wave Specialized Contracting
Establishment.
▪ Spark Arabia
▪ World Bank
▪ TechSci Research Proprietary Database and
Knowledge Repository
▪ Company Annual Reports
▪ Industry Magazines
▪ Industry Reports
▪ News Dailies
▪ Credible Paid Databases
Research Methodology

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Industry Brief
Various ongoing construction projects in the country are raising the demand for trucks, by which many corporate companies take trucks on lease, thus
driving the Saudi Arabia truck leasing and rental market in the forecast period.
According to TechSci Research report, “Saudi Arabia Truck Leasing and Rental Market -By Region, By Company, Forecast & Opportunities, 2017-
2027F”, the Saudi Arabia truck leasing and rental market stood at USD3,334.48 million in 2021 and is expected to register a CAGR of 6.51% to reach
USD5,357.20 million by 2027. The rise in demand for trucks for the transportation, construction, and logistics industry and the introduction of connected
and smart trucks are expected to drive the demand for the Saudi Arabia truck leasing and rental market. Rapid urbanization and increasing demand for
construction activities are bolstering the demand for trucks to carry heavy materials from one place to another.
However, the availability of limited financial options and cyclic price fluctuations may restrain the Saudi Arabia truck leasing and rental market growth in
the forecast period.
The Saudi Arabia truck leasing and rental market is segmented into lease type, truck type, end use industry, booking, regional distribution, and
competitive landscape.
Based on truck type, the market is divided into heavy duty and medium duty. Heavy-duty trucks dominated the market in 2021, capturing a market
share of 66.52%, and are expected to maintain their dominance throughout the forecast period. The high demand for trucks with high load-carrying
capacity to handle strong suspension systems and heavyweights is expected to accelerate the demand for heavy trucks. Increased supply of goods
and materials to various end-user industries and high-end investment for infrastructure development by government authorities are expected to fuel the
demand for heavy-duty trucks in the next five years.
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 grow at a CAGR of 6.01% to hold the largest market share in the forecast period. The oil & gas industry is the major revenue-generating
industry in Saudi Arabia. It requires the use of pick-up trucks to carry explosive material like petroleum and related products from on-site for further
processing are expected to fuel the Saudi Arabia truck leasing and rental market growth in the next five years.
Based on booking, the market is divided into online and offline. The online segment is expected to witness the fastest incremental growth in the forecast
period. High internet penetration and proliferation of smart devices are strengthening the foothold of online sales channels in the country. Companies
have started to avail services using online platforms and get the truck delivered to their address. Ijarah Finance, Abdul Latif Jameel IPR Company
Limited are some of the companies offering truck leasing and rental services at lucrative discounts. Growing awareness about the benefits of opting for
online platforms is expected to significantly contribute to the Saudi Arabia truck leasing and rental market through the next five years.
Major market players operating in Saudi Arabia truck leasing and rental market are Yanal Finance Company, Saudi Transport & Investment Co.
(Mubarrad), Fraikin Dayim Truck Rental Ltd, Aljozoor Alrasekha Trucking Ltd. (Rahaal), Trukker Holding Limited, Neeraan International Contracting
Co., Imad Company for Trading & Contracting, Trukkin Middle East FZ-LLC, Federal Wave Specialized Contracting Establishment, Spark Arabia
“The ongoing activities such as the construction of Neom and Qiddiya city and Red Sea Project, and other infrastructure development projects require
vast amounts of construction material and equipment to complete the project on time. Companies involved in multiple projects prefer to take trucks for
short durations, avoid hefty investments, and increase profit margins. The strong economic position of Saudi Arabia is fueling industrialization and
urbanization in the country. Market players are expected to invest in the expansion of product portfolio to garner customer attraction and adopt alternate
distribution channels and aggressive marketing strategies to stay ahead in the market, which in turn is expected to propel the Saudi Arabia truck leasing
and rental market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting
firm.

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Sample Data - Snapshot
CAGR 2017-2021
By Value: xx%
CAGR 2022E-2027F
By Value: xx%
Saudi Arabia Truck Leasing and Rental Market Size, By Value (USD Million), 2017-2027F
2017 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F
Value (USD Million)
Saudi Arabia Truck Leasing and Rental Market Share, By Lease Type, By Value, 2017-2027F
2017 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F
Finance Lease 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00%
Full Service/Rental 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00%
Saudi Arabia Truck Finance Lease Market Share, By End Use Industry, By Value, 2017-2027F
2017 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F
Oil & Gas 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
FMCG 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Construction 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Mining 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
E-Commerce 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Others 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%

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Report Name: SAUDI ARABIA TRUCK LEASING AND RENTAL MARKET
FORECAST AND OPPORTUNITIES
2017 – 2027
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15. About Us and
Disclaimer
TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in
number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The
proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’
model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich
evaluation of the opportunities available in the market.
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The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely,
accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers
reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or
omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this
report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market
size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.
Disclaimer
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