Saudi Arabia Truck Leasing and Rental Market 2027

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

2 2 © TechSci Research Automotive 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

3 3 © TechSci Research Automotive 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

4 4 © TechSci Research Automotive 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

5 5 © TechSci Research Automotive SERVICE OVERVIEW

6 6 © TechSci Research Automotive 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

7 7 © TechSci Research Automotive RESEARCH METHODOLOGY

8 8 © TechSci Research Automotive ✓ 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

9 9 © TechSci Research Automotive 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

10 10 © TechSci Research Automotive 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

11 11 © TechSci Research Automotive 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

12 12 © TechSci Research Automotive 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 - 2027 F”, the Saudi Arabia truck leasing and rental market stood at USD 3 , 334 . 48 million in 2021 and is expected to register a CAGR of 6 . 51 % to reach USD 5 , 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 .

13 13 © TechSci Research Automotive 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 - 2027 F 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 - 2027 F 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%

14 14 © TechSci Research Automotive Report Ordering Report Name: SAUDI ARABIA TRUCK LEASING AND RENTAL MARKET FORECAST AND OPPORTUNITIES 2017 – 2027 To View Sample OR Purchase Report License Type Price Single User License $3500 Multi - User License $4500 Custom Research License $7500

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 . Related Reports • Saudi Arabia Construction Equipment Rental Market, By Equipment Type (Dump Truck, Diesel Genset, Crane, Wheel Loader, Excavator, Bulldozer, Motor Grader, Telescopic Handler and Others), By Region (South and West, North and Central, East), By Province (Mecca, Riyadh, Eastern, Asir, Medina, East), Competition, Forecast and Opportunities, 2016 - 2026 F • Electric Vehicle Shared Mobility Market, Global Industry Size, Share, Trends, Opportunity and Forecast, 2016 - 2026 , Segmented By Service Type (Ride - Hailing, Car Sharing, Car Rental and Ride Sharing), By Vehicle Type (Two - Wheeler and Four - Wheeler), By Commuting Pattern (Daily, Weekly and Occasionally) and By Region 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 TechSci Research – Europe 54, Old brook, Bretton, Peterborough, United Kingdom Email: [email protected] www.techsciresearch.com TechSci Research – Asia - Pacific B – 44, Sector – 57, Noida, National Capital Region, U.P. - India Tel: +91 - 120 - 4523900 Email: [email protected] www.techsciresearch.com TechSci Research – North America 708 Third Avenue, Manhattan, New York, United States Tel: +1 - 646 - 360 - 1656 Email: [email protected] www.techsciresearch.com