Global Vehicle Leasing Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Vehicle Leasing Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Vehicle leasing is the leasing (or the use) of a motor vehicle for a fixed period of time at an agreed amount of money for the lease. It is commonly as an alternative to vehicle purchase but is widely used by businesses as a method of acquiring (or having the use of) vehicles for business, without the usually needed cash outlay. The key difference in a lease is that after the primary term the vehicle has to either be returned to the leasing company or purchased for the residual value.

Market Overview:

The latest research study on the global Vehicle Leasing market finds that the global Vehicle Leasing market reached a value of USD 97372.0 million in 2022. It’s expected that the market will achieve USD 162265.23 million by 2028, exhibiting a CAGR of 8.88% during the forecast period.

Assessment of the Overall Impact of COVID-19 on the Industry

Like many other industries, the automobile industry has been hit hard by the pandemic, and Covid-19 will have a lot of influence on the whole automobile industry, especially the leasing industry.

Due to economic uncertainty and concerns about personal job security, consumers lack confidence in the market, so the number of new consultations received by Vehicle leasing enterprises about this business immediately slowed down. At the same time, existing rental customers are exploring their options, including suspending payment and returning rental vehicles in advance. However, considering the impact of the epidemic, many companies have also expanded their plans for available support measures for existing auto finance customers.

With the successful introduction of vaccine in COVID-19, the epidemic situation has further improved, the downstream demand will further rise, and the leasing industry will continue to develop. In the long run, COVID-19 will not hinder the long-term development of the vehicle leasing industry. However, the absolute influence of this typical black swan event will never be forgotten, and the lessons that vehicle leasing will learn from this pandemic will shape this industry for many years to come. In the future, the vehicle leasing industry may increase the application of network technology, reduce personnel contact and increase digital management measures.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

Enterprise Holdings is one of the major players operating in the Vehicle Leasing market, holding a share of 24.16% in 2021.

Enterprise Holdings, Inc. operates as a holding company. The Company through its subsidiaries, offers automobile and commercial truck rentals, fleet management, car sharing programs, and other related services.

Avis Budget Group, Inc. is a leading global provider of mobility solutions, both through its Avis and Budget brands, which have more than 11,000 rental locations in approximately 180 countries around the world, and through its Zipcar brand, which is the world's leading car sharing network, with more than one million members.

Avis Budget Group operates most of its car rental offices in North America, Europe and Australasia directly, and operates primarily through licensees in other parts of the world.

Segmentation Overview:

Among different product types, Business segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Passenger Vehicle segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Vehicle Leasing market covered in Chapter 3:

Hitachi Capital Vehicle Solutions
Avis Budget
Athlon
ALD Automotive
Master lease
Arval
Free2Move Lease
LeasePlan
Enterprise Holdings
Rivus Fleet
Kinto
CAR Inc
Hertz
Sixt

In Chapter 4 and Chapter 14.2, on the basis of types, the Vehicle Leasing market from 2018 to 2029 is primarily split into:

Personal
Business

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Vehicle Leasing market from 2018 to 2029 covers:

Passenger Vehicle
Light Commercial Vehicle
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)