Car Leasing Market which delivers detailed overview of the global car leasing market in terms of market segmentation by lease type, by application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
Car Leasing Market Statistics –
- USD 150 Billion revenue in 2033
- The market size is projected to record a valuation of over USD 150 billion by 2033
- The Car Leasing Market is slated to observe 7% growth rate through 2023-2033
The global car leasing market is anticipated to grow with a CAGR of ~7% during the forecast period, i.e., 2023-2033. The market is segmented by application into personal and commercial. Out of these segments, the commercial segment is anticipated to garner the largest market share over the forecast period, owing to the increasing per capita income. In addition, increasing demand for leased for personal use is also expected to boost the growth of the segment in the coming years.
The global car leasing market is estimated to garner a revenue of 150 billion by the end of 2033, backed by the increasing demand for cars worldwide. Various features provided by leased car, including monthly payments covering all the vehicle’s rent and taxes as well as depreciation over the lease term are also projected to boost sales of these service in the coming years. Moreover, increasing sales of passenger cars as well as increasing penetration of electric vehicles is also projected to propel the growth of the market during the forecast period.
Geographically, the global car leasing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in North America is estimated to garner the largest market share over the forecast period, owing to the rising trend of leasing cars. Apart from this, the market in Europe is anticipated to register significant growth in the coming years.
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The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Adoption of Car Leasing Services to Drive the Market Growth
According to the data of 2019, around 40% of the business earnings were made from car leasing by most of the car making companies in India.
The adoption car leasing services is expected to accelerate the market growth in the coming years, as car leasing facilitates getting the latest advances in car technology every few years with much lower monthly payments which can serve the personal as well as commercial need. Moreover, the increasing number of connected vehicles as well as the growing motor vehicles production are also expected to drive the growth of the global car leasing market during the forecast period.
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However, the problem related subscription renewal as well as challenge associated with long-term leasing are expected to operate as key restraints to the growth of global car leasing market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the of global car leasing market which includes company profiling of Volkswagen AG, Orix Auto Infrastructure Service Limited, Volvo Car Corporation, Sixt SE, General Motors LLC, Hertz Corporation, Europcar International Sasu, ALD International SA, Mercedes-Benz Group AG, Enterprise Holdings, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the of global car leasing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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