The Automotive Fleet Leasing Market is expected to generate revenue from USD 24976.1 Million to USD 37410.9 Million during the forecast period within the present forecast years, at a CAGR rate of over 6.04%.
The global vehicle fleet leasing market is a ferocious beast that is expected to develop at a breakneck pace over the next several years. Rising public knowledge of the benefits of fleet leasing, as well as expansion in the automotive sector and the leasing market’s potential, are all factors contributing to the market’s growth. During the forecast period, the leasing industry is expected to be driven by an increase in demand for leased cars in both developing and developed countries. The company intends to shift to operating leases because of the huge growth potential of the vehicle leasing sector, which provides an off-balance sheet exposure.
Due to restrictions imposed by certain governing authorities, the recent breakout of the COVID-19 epidemic has temporarily suspended or slowed the operations of many companies, forcing them to operate with a minimum labor force. The automobile fleet leasing business is no exception, and it is expected to have a major impact on the industry’s revenue creation in the coming years.
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Major Key Players
The automotive fleet leasing market is supported by high demand for automobiles and rising demand for passenger cars. The population growth around the world and increasing demand of automotive fleet leasing market-based services and products also support the market growth. However, the automotive fleet leasing market growth can be affected due to additional expenses such as part replacement and insurance complexities. The report covers all such details which will help companies in the automotive fleet leasing market to strengthen their business plan and improve their product portfolio.
The automotive fleet leasing market research report also provides company profiles of major companies. The company profiles of many organizations operating in the automotive fleet leasing market report highlights crucial details like company size, revenue growth, and details of mergers and acquisitions taking place in the automotive fleet leasing market. New companies and established businesses can plan their strategies based on this data provided in the automotive fleet leasing market research report.
Segmentation by Lease Type:
Segmentation by Vehicle Type:
Segmentation By Passenger Cars Type
Due to advancements in technology and new strengths solutions such as electric vehicles and hybrid vehicles, North America is expected to account for the largest automotive fleet leasing market revenue shares, with a higher CAGR over the forecast period. This is likely to motivate companies to introduce new personalized mobility services to meet changing consumer demands and preferences.
Europe and the Asia Pacific are expected to account for the second and third highest revenue shares in the global market, respectively, and this trend is expected to continue over the next ten years. The growth of the global automotive fleet leasing industry is being fueled by rising competitiveness and increased trading for the improved distribution system across growing countries such as India and China.
ARI (New Jersey), Glesby Marks (Texas), LeasePlan Corporation N.V. (Netherlands), AutoFlex AFV (U.S.), Velcor Leasing Corporation (U.S.), Caldwell fleet leasing (U.S.), Wheel, Inc. (U.S.), PRO Leasing Services (U.S.), Jim Pattison Lease (Canada), and Sixt Leasing SE(Germany) are the major key players of the market.
Manufacturers are concerned with cost containment, as well as fleet maintenance, fuel expenses, parking space, management systems, drivers, and other personnel. This, in turn, is increasing demand for the worldwide vehicle fleet leasing industry. Other factors include the growth of shared mobility, manufacturing, and food and beverage industries.
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