Saudi Arabia Automotive Leasing Market Size

Saudi Arabia Automotive Leasing Market Future Prospects

The Saudi Arabian automotive leasing market is valued at USD 635.1 million in 2024, and it is expected to reach USD 1,196.8 million in 2030, growing at a CAGR of 11.1% during 2025–2030. It is propelled by the government efforts for economic diversification, shifting preferences of people toward vehicle renting over buying, and rising corporate demand.

The government in Saudi Arabia is working toward economic diversification as part of Saudi Vision 2030. It aims to reduce the kingdom’s reliance on oil and gain revenue from other sectors, such as infrastructure, tourism, logistics, and transportation.

Corporate fleet leasing is highly significant in the oil & gas, construction, and logistics industries, which play a predominant role in the economy of Saudi Arabia. Leasing removes the pressure of vehicle ownership, enhances operational flexibility, considerably lessens expenditure, and facilitates periodic upgrades to new models without any associated costs.

It is increasingly becoming popular with expatriates, younger consumers, and women. The lower upfront costs as well as predictable monthly payments, coupled with access to updated models, offer convenience and affordability. The rise in the number of women drivers since the right was granted in 2018 has greatly spurred this trend.