- Growing demand for private leasing and a hassle-free travel experience contributing positively to growth, Commercial banks segment and financial lease segment to be dominant over the forecast period
- North America and Europe to stay at the top of regional charts in the global car leasing market
ALBANY, New York, May 12, 2020 /PRNewswire/ -- Growing at an impressive pace of about 9% from 2020 to 2030, the global car leasing market is looking at an upward growth curve over the stated period. The reasons that can be attributed to this growth are varied and a prominent one among them is the increase in demand for private lease. Key share of the global car leasing market would be accounted for by developed countries of the world such as France, the United States of America, the United Kingdom, and Germany.
Transparency Market Research notes, "With most drivers practicing safe distancing during the COVID-19 pandemic, more and more people have questions regarding breaking the chain while vehicle leasing. Players would thus do well to have interactive question and answer session to those willing to opt for it. Besides, it is pertinent to note here that young urban drivers seek a hassle-free experience and thus gravitate towards car leasing for their travel requirement."
Key Findings of Global Car Leasing Market Study:
- On the basis of provider, commercial banks held a dominant share; however, it will lose some share over the forecast period to NBFCs and captives
- In the product type segment, business lease segment was a prominent contributor to growth; however, it will lose some share to private lease segment over the forecast period
- The lease type segment witnesses the sub-segment of financial lease segment contributing massively to growth
- North America and Europe to account for significant global car leasing market share over the assessment period
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Key Drivers of Growth in Global Car Leasing Market:
A number of factors, as identified by Transparency Market Research, are keeping the car leasing market buoyant over the forecast period. Trends, drivers, and developments that are marking the global car leasing market's landscape include the following:
- Corporate sector is providing the benefit of car leasing to its top employees in order to attract the best talent and retain it; these organizations are one of the most significant end-users
- Increase in demand for travel and other use-purposes are arising from young users who cannot afford to buy cars
- Car ownership comes with high maintenance costs, fuel requirements, and maintenance expenses and this is deterring people from buying, pushing them towards leasing
Explore 205 of pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Car Leasing Market (Lease Type: Finance Lease and Operating Lease; Product Type: Private Lease and Business Lease; and Provider: OEM/Captives, Commercial Banks, and NBFCs) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030 at https://www.transparencymarketresearch.com/car-leasing-market.html
Regional Analysis of Global Car Leasing Market:
- Europe and North America held sizeable share of the global car leasing market in the year 2019 as a result of improving credit environment
- From 2020 to 2030, the trend is set to continue for the two regions owing to penetration of NBFCs and captives
- Asia Pacific and Latin America will present players with new opportunities as the regions gear themselves for growth – a result of increase in consumer awareness and increase in car prices
- The automotive industry will witness China and India emerging as major players and this will lead to massive contribution from these countries towards growth of the APAC region
Analyze car leasing market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a Sample of the Study
Competitive Landscape of Global Car Leasing Market:
The global car leasing market is a fragmented vendor landscape with a large number of local and international players present and operating the landscape. Key players that have made a name for themselves in the market with their active and proactive maneuvers are ORIX, ALD Automotive, Avis Budget Group, Sixt, Enterprise, Hertz, Arval, Leaseplan, Europcar, Movida, Car Inc, Daimler Financial Services, and General Motor Financial Company, among others.
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Global Car Leasing Market: Segmentation
- Car Leasing Market, by Lease Type
- Operating Lease
- Financial Lease
- Car Leasing Market, by Product Type
- Private Lease
- Business Lease
- Car Leasing Market, by Provider
- Commercial Banks
- Car Leasing Market, by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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