Automotive fleet leasing market Information by lease Type (Open Ended and Close Ended), by vehicle type (Passenger Cars, LCV and HCV) And Region - Forecast To 2030
ID: MRFR/AM/2942-CR | October 2020 | Region: Global | 111 pages
Automotive Fleet Leasing Market overview:
Automotive fleet leasing market size is predicted to grow from USD 24976.1 Million to USD 37410.9 Million with a growing CAGR of 6.04% during the forecast period
The global automotive fleet leasing market is very zestful in nature and it is predicted to witness tremendous growth over the forecast period. The factor contributing to the growth of the market includes rising awareness among the people about the advantages of fleet leasing, development in the automotive sector, and the rise in the potential of the leasing market. The rise in demand for the leased cars in developing and developed countries is predicted to drive the leasing market during the forecast period. The corporate is planning to move towards the operating leases as it provides an off-balance sheet exposure due to the high growth potential for the vehicle leasing market.
Covid 19 Analysis
The recent outbreak of the covid 19 pandemic has temporarily halted the operations of various industries or slows down the functioning with a minimum labor force due to the restriction imposed by specific governing bodies. The automotive fleet leasing market is no exception, and it is predicted to witness a significant impact on the revenue generation of this industry in the upcoming years.
Competitive landscape
The companies or the major key players of the market are focused on avoiding the extra expenses which is considerable lower than fleet. The manufacturers are focused on maintaining costs along with that maintaining the fleet, cost of the fuels, parking space, management system, drivers and other staffs. However this in turn raising the demand for the global automotive fleet leasing market, moreover, the expansion of the shared mobility, manufacturing industries and food & beverages are some other factors.
Major Key Players
- 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)
- Sixt Leasing SE(Germany).
Market Dynamic
- Drivers
The stable growth in the production and automobile manufacturing all over the world mainly in developing countries or in emerging economies is the major factor that is likely to boost the growth in the revenue of the global market over the next ten years. The administration of various governments in order to decrease carbon emission is likely to boost the manufacturing of the leasing electric vehicles is another major factor for the automotive fleet leasing market growth.
- Opportunities
The augmentation of several end-user industries including the transportation sector, food, and beverages, etc due to the development of industrialization and urbanization is the major factor contributing to the future market growth opportunities of the global market outlook.
- Restraints
The rise in the restrictions in the car leasing agreement and involvement of the expenses in the replacements of the original types of equipment at the time of the crash is predicted to hinder the global market growth.
The various limitations involved in the vehicle leasing agreements and the high costs elaborated with the replacement of OEM parts by the consumers are another major factor restraining the automotive fleet leasing market opportunities for the global automotive fleet leasing industries.
- Challenges
The limitation of the car leasing agreement along with that the involvement of the replacements of the original types of equipment at the time of emergencies is the major challenge faced by the global market.
Cumulative Growth Analysis
According to the reports, the global automotive fleet leasing market value on the basis of the lease type, the open-ended segments is likely to account for the largest share in the market by registering a CAGR of 6.23% during the forecast period. On the basis of the vehicle type, the passenger car segments account for the maximum shares of 79.44% in the year 2016.
Based on the region, the North America segment is expected to witness the largest global market shares of USD 11,701.0 Million by the end of 2023.
Value Chain Analysis
According to the reports, the global automotive fleet leasing market is segmented on the basis of the lease type, vehicle type, and region. On the basis of the lease type, the market is further distributed into open-ended and close-ended types. The open-ended segment is expected to dominate the global market, due to the primary use of the open end leases for commercial business leasing and it provides good control over asset utilization and disposal. The duration period of the agreement is usually about 12 months and the agreement can be terminated after the end of the leasing term, however, after the end of the term, the consumer is liable for any imprudent damage and additional coverage of mileage.
On the basis of the vehicle types, the global market is segmented on the basis of commercial vehicle and passenger vehicles. The passenger vehicle segments are predicted to account for the maximum automotive fleet leasing market shares. This segment accounts for more than 50% of the total global production of vehicles. The rise in per capita income has contributed to the growth of production and sales.
Segmentation Overview
The market is segmented on the basis of the lease type, vehicle type, and region. The global automotive fleet leasing market is expected to witness decent growth during the forecast period.
By Application
Based on the application, the market is segmented into open-ended and close-ended types.
- By end-users
Based on the propulsion types, the market is segmented into a commercial vehicle and passenger vehicles
Regional Analysis
According to the reports, on the basis of the region, the global automotive fleet Lessing market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa. North America is predicted to account for the maximum automotive fleet leasing market revenue shares and it is expected to index higher CAGR over the forecast period due to the advancement in technology and new strengths solution including electric vehicles and hybrid vehicles are likely to motivate companies to introduce new personalized services of mobility in order to fulfill the changing demands and preference of the consumers.
The Europe and Asia Pacific segments are predicted to account for the second and the third largest revenue shares in the global market and it is likely to continue doing so over the next 10 years. The rise of competition and increased trading for the improvised distribution system across developing countries such as India and China are the major factors contributing to the growth of the global automotive fleet leasing market.
Report Overview
The following report comprises of –
- Market overview
- Covid 19 Analysis
- Market Dynamic
- Drivers
- Opportunities
- Restraints
- Challenges
- Cumulative Growth Analysis
- Value Chain Analysis
- Segmentation Overview
- By Application
- By End-Users
- Regional Analysis
- Competitive landscape
Recent developments
- Innovation in technical field and advancements to optimize the performance of the product making it a downstream applications. Furthermost the porter’s five forces analysis offers crucial information on the automotive fleet leasing market.
Market Segmentation :
Segmentation by Lease Type:
- Open-Ended
- Close-Ended
Segmentation by Vehicle Type:
- Commercial Vehicles
- Passenger Vehicles
Segmentation By Passenger Cars Type
- SUV’s
- Hatchback
- Sedan
Segmentation by Regions:
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
Automotive fleet leasing is basically a group of vehicles that are owned by government agencies or organizations and it is managing by vehicle leasing companies including cabs, taxis, rental cars, and public utilities.
This report contains all the information on the global automotive fleet leasing market trends research and the market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global market analysis and forecast to 2023 is also included in the report.
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size |
|
| CAGR | 6.04% CAGR (2020-2030) |
| Base Year | 2019 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Lease Type, Vehicle type, Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | 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), Sixt Leasing SE(Germany). |
| Key Market Opportunities | Augmentation of several end-user industries including the transportation sector, food, and beverages, etc due to the development of industrialization and urbanization |
| Key Market Drivers |
|
Frequently Asked Questions (FAQ) :
The market will be witnessing the valuation of USD 37410.9 Million in the year 2023
The market will be witnessing a growth rate of CAGR of 6.04% in the forecast period.
North America region is likely to dominate the global automotive fleet leasing market.