Saudi Arabia Truck Leasing and Rental Market Assessment, By Lease Type [Finance Lease, Full Rental], By Truck Type [Heavy Duty, Light Duty, Medium Duty], By End-User Industry [Oil and Gas, Fast-Moving Consumer Goods, Construction, Others], By Booking [Online, Offline], By Region, Opportunities and Forecast, 2018-2032F

Saudi Arabia Truck Leasing and Rental Market  is projected to grow at USD 2.27 billion in 2032F with a CAGR of 5.12%.

Saudi Arabia Truck Leasing and Rental Market Forecast 2032

Saudi Arabia truck leasing and rental market is projected to witness a CAGR of 5.12% during the forecast period 2025-2032, growing from USD 1.52 billion in 2024 to USD 2.27 billion in 2032. The growth of the truck leasing and rental market in Saudi Arabia is driven by infrastructure development under Saudi Vision 2030 and the adoption of cost-effective and flexible leasing solutions. Digital platforms for leasing services have streamlined operations, improved customer experience, and aligned with the nation's sustainability goals by promoting eco-friendly vehicles.
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Report Attribute
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Details
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Base Year of the Analysis
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2024
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Forecast Period
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2025-2032
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Historical Period
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2018-2023
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Projected Growth Rate
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CAGR of 5.12% between 2025 and 2032
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Revenue Forecast in 2032
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USD 2.27 billion
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The leasing and rental market for trucks in Saudi Arabia has grown steadily because of the rising attention paid to logistics and construction projects. Companies now choose to lease vehicles instead of buying because leasing helps them save money on repairs and also offers newer truck models. The Saudi Vision 2030 infrastructure initiatives create more demand for trucks across all business fields. The truck leasing system allows businesses to increase operations while avoiding big upfront investments. Digital platforms receive more popularity in truck leasing and rental services which help users experience better services while running operations more efficiently. Modern fleet management technology like telematics and GPS tracking helps companies run their operations more efficiently and safely making leasing trucks more appealing in business.
As environmental protection grows in importance, the market now prefers electric vehicles that save fuel and protect the environment. For instance, in October 2023, Quantron AG, a clean tech company and specialist in sustainable passenger and freight transport, together with its partner Electromin Limited Company (wholly owned by the Petromin Corporation) announced the delivery of the first 50 Quantron Qargo 4 EV light trucks in the Kingdom of Saudi Arabia. The vehicles have been prepared for deployment with customers like PepsiCo and Red Sea Global. This is the largest delivery of battery-electric trucks in the Kingdom of Saudi Arabia representing a significant milestone towards decarbonisation of mobility, in line with the Saudi Vision 2030 sustainability goals.
<h2>Growing Demand for Advanced Fleets</h2>
The growing use of advanced trucks in Saudi Arabia makes leasing and renting trucks more appealing to customers. Modern truck producers roll out advanced trucks that come with advanced performance and fuel-saving features plus comfortable driving spaces. Today's vehicle fleets use advanced technologies like automated transmission and tough engine designs to perform better and remain dependable. Equipped with a powerful drivetrain, robust aggregates and a comfortable cabin, the new truck perfectly blends the driver&rsquo;s comfort and fuel efficiency to offer higher productivity and profitability to its customers. In addition, the growing strategic partnership between the industry players to introduce advanced vehicles boosts the growth of the market. For instance, in September 2024, National Transportation Solutions Company (NTSC), Saudi Bulk Transport, and Electromin Limited Company made a strategic alliance announcement to launch electric light-duty trucks, a move toward propelling sustainability in Saudi Arabia's transport and logistics industry. The alliance is aimed at supporting Vision 2030's vision of transforming transportation solutions and lowering carbon emissions.
Advanced truck fleets attract businesses because these models help them save money on maintenance while running more smoothly and safely. Truck leasing companies provide updated vehicles to their customers who get the latest technology through leasing without having to pay expensive capital costs. The rising demand helps truck leasing and rental companies grow while advancing Saudi Arabia's logistics industry.
<h2>Infrastructure Development and Vision 2030 Initiatives Boosting the Demand</h2>
The Saudi Arabia truck rental and leasing market is growing because the Saudi Arabia government is focusing on building new infrastructure through its Vision 2030 initiative. For instance, since 2016, Saudi Arabia had launched USD 1.3 trillion in projects to reduce oil dependence, including Neom and significant housing developments. This program works to create economic variety and decrease oil reliance while building public service areas that serve healthcare and education, in addition to constructing roads and tourist experiences. The escalating construction activities generate increased transportation requirements and strengthen logistics operations across the nation. Large-scale construction projects require more trucks, so companies choose truck rentals as a flexible way to move goods efficiently. Leasing enables companies to match project requirements while avoiding big upfront expenses for assets. Leasing modern technology-equipped fleets offers better operational results while maintaining safety and reliability which drives companies working on infrastructure projects to choose leasing.
<h2>Heavy Duty Trucks Hold a Significant Share of Saudi Arabia Truck Leasing and Rental Market</h2>
Expanding heavy duty truck leasing and rental services in Saudi Arabia benefits from extensive infrastructure projects directed under Saudi Vision 2030. Building projects in Saudi Arabia need powerful transportation systems to move the heavy materials and tools. When businesses lease heavy trucks, they save money on maintenance and reduce operational costs while staying adaptable during times of growth. Moreover, the growing launch of heavy-duty trucks in the region also helps customers to choose the truck from the number of options. For instance, in December 2024, Tata Motors Limited, India's largest multinational automotive company, introduced its first automated manual transmission truck, the Tata Prima 4440.S AMT in Saudi Arabia during the Heavy Equipment and Trucks Show in Dammam. Developed on its flagship platform, the Prima 4440.S AMT is constructed with the company's global know-how to provide exceptional reliability and performance. Digital transformation tools help the industry grow by bringing easier ways to lease trucks online. People today need eco-friendly trucks that save fuel as part of Saudi Arabia's sustainability push. Government support for economic diversification beyond oil and natural gas benefits both industry sectors that move goods and heavy truck businesses.
<h2>Eastern Region to Dominate Saudi Arabia Truck Leasing and Rental Market</h2>
Saudi Arabia's Eastern region controls a majority share of the truck leasing and rental sector. The Eastern region leads all others because oil and gas production here create great demand for transportation services. Saudi Arabia's Eastern province supports energy sector logistics by enabling infrastructure growth at Dammam, Dhahran and Al Khobar industrial cities. The oil industry's logistics needs to transport products and materials to construction sites that drive truck demand at exceptional levels in this area. Further, this region is located next to modern ports including the King Fahd Port in Dammam. Easy market access from this region allows businesses to depend on adjustable truck leasing options to handle their expanding logistics and port operations. The region's highway construction and logistical development create a continuous need for vehicle fleets that truck leasing and rental services help satisfy.
For instance, in July 2024, the global freight forwarder Scan Global Logistics (SGL) expanded its global network in the country by opening new offices in Riyadh and Jeddah. This will provide the company with an instant presence in the economic Central and West Provinces of Saudi Arabia as part of its strategic development plan. Another office was opened in 2024, in Dammam within the East province.
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Future Market Scenario (2025 &ndash; 2032F)
<ul>
<li>Businesses switch to long-term leasing agreements since they help save money and provide steady operation.</li>
<li>Many leasing companies have begun adding electric vehicles and hybrid rigs to their fleet options because customers want eco-friendly trucks that save fuel.</li>
<li>Digital leasing platforms with booking tools and payment systems support customer satisfaction and run operations better every day.</li>
<li>Advanced fleet technology helps companies lease more effectively by improving safety and making operations run better.</li>
</ul>
Report Scope
&ldquo;Saudi Arabia Truck Leasing and Rental Market Assessment, Opportunities and Forecast, 2018-2032F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of Saudi Arabia truck leasing and rental market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecasts between 2025 and 2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
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Report Attribute
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Details
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Segments Covered
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Lease Type, Truck Type, End-User Industry, Booking
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Regions Covered
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Central, Western, Northern, Eastern, Southern
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Key Companies Profiled
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Dayim Truck Rental Ltd, Mubarrad, TruKKer Group, Neeraan International, Imad Company, Saudi Rental Hub, Sharaf Din Rental &amp; Leasing of Vehicles and Heavy Equipment Company, Almuzain, Expertise Company
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs.
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In the report, the&nbsp;Saudi Arabia truck leasing and rental market&nbsp;has been segmented into the following categories:&nbsp;
<ul>
<li>By Lease Type
<ul>
<li>Finance Lease</li>
<li>Full Rental</li>
</ul>
</li>
<li>By Truck Type
<ul>
<li>Heavy Duty</li>
<li>Light Duty</li>
<li>Medium Duty</li>
</ul>
</li>
<li>By End-User Industry
<ul>
<li>Oil and Gas</li>
<li>Fast-Moving Consumer Goods</li>
<li>Construction</li>
<li>Others</li>
</ul>
</li>
<li>By Booking</li>
<li>Online</li>
<li>Offline</li>
<li>By Region</li>
<li>Central</li>
<li>Western</li>
<li>Northern</li>
<li>Eastern</li>
<li>Southern</li>
</ul>
Key Players Landscape and Outlook
Truck leasing and rental companies in Saudi Arabia are expanding through different business methods. They use technology to build better online tools and supporting systems which help customers do business easily while improving operations processes. They are including electric and hybrid trucks in their fleet to support Saudi Arabia's environmental targets. The companies enter long-term leases with business clients to supply them with modern fleet options and relieve them of upkeep charges. Key truck rental companies prepare themselves to benefit from market growth by improving these service areas.
For Instance, In August 2024, Dayim Truck Rental Ltd (Dayim), a prominent rental and logistics business based in Saudi Arabia, received a significant inward investment from LetterOne Holdings S.A., a Luxembourg-based private equity firm. While the exact amount of the investment hasn't been disclosed, it is intended to fund Dayim's continued growth and expansion. Dayim, which operates in equipment and truck rentals across industries like oil and gas, infrastructure, logistics, and mega projects, is poised to leverage this investment to enhance its technology, logistics, operational excellence, and customer satisfaction.
Key Players Operating in Saudi Arabia Truck Leasing and Rental Market are:
<ul>
<li>Dayim Truck Rental Ltd</li>
<li>Mubarrad</li>
<li>TruKKer Group</li>
<li>Neeraan International</li>
<li>Imad Company</li>
<li>Saudi Rental Hub</li>
<li>Sharaf Din Rental &amp; Leasing of Vehicles and Heavy Equipment Company</li>
<li>Almuzain</li>
<li>Expertise Company</li>
</ul>
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Saudi Arabia Truck Leasing and Rental Market Assessment, Opportunities and Forecast, 2018-2032F

Factor driving the growth of the truck leasing and rental market in Saudi Arabia is the country's focus on economic diversification. As part of Saudi Vision 2030, efforts to reduce dependency on oil and gas have boosted various industry verticals, including transportation and logistics. This has led to increased demand for truck leasing and rental to support the expansion of these sectors.

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