According to a new report by EMR titled, ‘Global Car leasing Market Report and Forecast 2020-2025’, the global car leasing market is going to be supported by the company car leasing market, which is expected to grow at a CAGR of 4% between 2020 and 2025 to reach a volume of 10.12 million metric units by 2025.
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Competitive Landscape & Supplier Analysis:
ALD Automotive Pvt Ltd
Arval BNP Paribas Group
Wheels, Inc. (MZTAD)
ORIX Corporation (NYSE: IX)
Volkswagen Financial Services (VOW.DE)
Sixt Leasing (ETR: LNSX)
The global car leasing market is rapidly growing at a CAGR of 15% due to the increasing demand. The leading markets for car leasing include Europe, the Asia Pacific, Japan, Australia, and the Americas. The car leasing industry is witnessing a healthy growth in regions like North America and Europe, with a rising trend of leasing cars by individuals and companies to save on the cost of purchasing a car and other overhead expenses. Due to the increasing issues of traffic and parking, more and more regions are shifting to car leasing from car buying to save on taxes and time. The demand for carpooling is also rising due to traffic issues, which is also driving the demand for car leasing as it is more manageable.
Read full report summary with Table of Content – https://www.expertmarketresearch.com/reports/car-leasing-market
In 2019, Honda Motors, a key automobiles manufacturer, joined hands with ORIX Corporation (NYSE: IX) to introduce car leasing services. These services are available for both individuals as well as corporate consumers, with Honda offering fleets from its City, Civic, and CR-V lines. The target customers of the collaboration will be businessmen, self-employed professions, and other salaried individuals, with the companies involved planning to take advantage of the rising car leasing market in India. Earlier, other automotive manufacturers like FCA and Skoda had also announced their partnership with ORIX, a leading car leasing company.
Market Breakup by Vehicle Type:
The vehicle types in the car leasing market can be divided into passenger and commercial vehicles.
Market Breakup by Lease Type:
Closed Ended Lease
Option to Buy Lease
The lease type can be segmented into closed-ended lease, option to buy lease, sub-vented lease, and others.
Market Breakup by Service Provider Type:
The service providers in the car leasing industry include OEM and bank-affiliated, among others.
Market Breakup by Tenure:
The tenure for car leasing could be short or long term.
Market Breakup by End-Use:
Car leasing finds its end uses in commercial and non-commercial sectors.
Market Breakup by Regions:
Middle East and Africa
The regional markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Key Findings of the Report:
The growing centralization of fleet sourcing is driving the car leasing market.
The growing trend for driverless or self-driving vehicles is providing further impetus to the market growth.
The market is also being driven due to the growing traffic issues, especially in the major towns and cities.
With the rise of cabs and carpooling, the market for car leasing is rising.
The growing need for control and management of vehicles on the road is providing further impetus to the market growth.
The growing problems related to parking is propelling the market growth.
Key Offerings of the Report:
The EMR report gives an overview of the global car leasing market for the periods (2015-2019) and (2020-2025).
The historical (2015-2019) and forecast (2020-2025) market analysis for the vehicle type, lease type, service provider type, tenure, end-use, and regions have also been provided in the report issued by EMR.
It provides an assessment of the market based on Porter’s Five Forces model, along with SWOT and cost analysis.
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