Egypt Ride Hailing Service Market: Key Companies & Market Share Insights

The Egypt ride hailing service market size was valued at USD 922.0 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 15.8% from 2021 to 2028.

The Egypt Ride Hailing Service Market size is anticipated to reach USD 2.99 billion by 2028, according to a new report by Grand View Research, Inc. The market is projected to register a CAGR of 15.8% from 2021 to 2028. The emergence of ride hailing services has opened a new avenue in the field of public transportation. The service providers, often known as transportation network companies, are claimed to be the new future of public transport. The service enables customers to hire personal drivers who drive them from one place to another, as required.

These rides are extremely convenient as they provide numerous alternatives with customization options. Customers can choose the pick-up/drop-off location, preferred route, number of riders, number of stops, as well as the type of vehicle. Many transportation network companies also offer ride-sharing services. Another reason for their rapid adoption is that the service provides an instant solution to traffic congestion and parking difficulties.

The service has evolved as a massive alternative to personal vehicles, traditional taxi services, and community transports. Following the trend across the globe, the Egypt ride hailing service market can also be seen heating up. Lucrative growth prospects have been enticing both domestic as well as international transportation network companies to the market.

According to the World Bank, Egypt’s population is estimated at 98.42 million as of 2018. Regular means of transportation, such as personal vehicles, traditional taxi services, and community transport services like mini-buses, tuk-tuks, and motorbikes no more suffice the requirements of the country. Along with this, the traffic situation has worsened over the years with an increase in the number of personal vehicles.

As a result, ride hailing services have been experiencing massive growth. The market is being largely dominated by UBER, Dubci, and WNGO. This spur, along with technological advancements, is expected to maintain the dynamic nature of the market. The car-hailing market has gradually established itself in Egypt.

Companies in the market are focusing on strategies such as mergers and acquisitions to gain market share and to increase their service footprint. For Instance, In November 2018, Avis Budget Group Inc. partnered with Ford's Transportation Mobility Cloud to enable data to flow from vehicles through Ford's data systems and onto Avis' computers. Through this, the company aims to puts more control in the customer's hands, while at the same time reducing costs and vehicle turnaround times. By adding connected functionality to their vehicles and their mobile app, Avis measured a corresponding 30% increase in their Net Promoter Score. The data from Avis's connected Ford vehicles are tracked primarily at car pick-up and drop-off, not during the customer's rental period.

Related Press Release@ Egypt Ride Hailing Service Market Report

Egypt Ride Hailing Service Market Report Highlights

• E-hailing is projected to be the fastest-growing segment by progressing at a CAGR of 18.9% over the forecast period
• The car-sharing segment is foreseen to remain at the forefront regarding revenue share and is projected to accounts for a total market share of over 40% in 2028
• Some of the key players operating in the market include Uber Technologies, Inc.; Avis Rent a Car System, LLC; Sixt SE; Halan Inc.; and SWVL Technologies Inc.