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Global Leasing Market Analysis Shows It Reaching $2.4 Trillion By 2026: TBRC

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News provided by

The Business Research Company

22 Feb, 2022, 16:40 GMT

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The leasing market bounces back from negative pandemic impacts at a rate of 13%

LONDON, Feb. 22, 2022 /PRNewswire/ -- The pandemic impacted the leasing market with reduced consumer traffic to many businesses, indefinite closures due to quarantine measures, and other government directives. Nationwide lockdowns led to the closure of manufacturing and other industrial businesses, thus impacting demand for leased equipment and machines. Demand for capital equipment, vehicles, and others slowed down due to the pandemic resulting from reduced cash flow to fund any outright equipment purchases. This among other measures from banks and such impacted leasing industry growth.

The global leasing market size is expected to grow from $1.35 trillion in 2021 to $1.53 trillion in 2022 at a compound annual growth rate (CAGR) of 12.9%. The growth in the global leasing market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The leasing market size is expected to reach $2.40 trillion in 2026 at a CAGR of 12.0%.

Request a free sample of the Leasing Market Report 2022

Leasing Market Segmentation

TBRC's leasing market research report is segmented by type into automotive equipment leasing, consumer goods and general rental centers, machinery leasing, and lessors of nonfinancial intangible assets. The lessors of nonfinancial intangible assets is the largest segment of the leasing market by type, accounting for 36.6% of the total market in 2021. The automotive equipment leasing market is expected to be the fastest-growing segment, going forward at a CAGR of 14.7% during 2021-2026 period.

Shift In Trends Toward Rentals In The Leasing Market 2022

In today's economy and considering the cyclical nature of the various industries such as construction, mining, and agriculture; the benefits of renting or leasing equipment are amplified. Many contractors, construction companies, and a wide variety of industries are exploring rental options over purchasing of new machinery due to the COVID-19 impact on companies' economic activities, increasing companies' interests in cutting costs, and rise in expansion plans among smaller companies. There are several costs associated with the purchase of new equipment, such as the cost of equipment ownership, the initial asset cost, and the tenure to pay off equipment financing, plus maintenance and repair costs.

Construction companies are wary of such costs and, on top of this cost factor, the cyclical nature of the construction industry and economic fluctuations can make it difficult for organizations to fully utilize the equipment they have purchased and obtain the most value, especially when that equipment is idle during slow business conditions. In this case, rental is an attractive alternative and it will drive the growth of the leasing market in future.

Leasing Industry Players – Outlook As Per The Global Leasing Market Report 2022

The global leasing market is highly fragmented, with a large number of regional players operating in the market. The top ten competitors in the market made up to 7.99% of the total market in 2021. Major players in the market include Volkswagen leasing GmbH, Enterprise Holdings Inc., Mc Donald's Corporation, Daimler, and United Rentals Inc.

Player-adopted strategies in the leasing industry includes diversification in order to achieve the best possible balance for cost and risk, enhancing product portfolio by strategic collaborations and acquisitions, expanding franchisee restaurant business by exploring the growth potential in different geographies, expanding mobility business through joint investments with other mobility service providers and strengthening business by acquiring companies with same domains.

See more on the Leasing Market Report

Check out similar market reports:

Machinery Leasing Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

Automobile Rental And Leasing Market – Opportunities And Strategies – Global Forecast To 2030

Interested to know more about The Business Research Company?

The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.

The World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.

Contact Information

The Business Research Company
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Email: info@tbrc.info
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