Expert Market Research Explores the Top 4 Companies in the Global Car Leasing Market

ALD Automotive Pvt Ltd, Arval BNP Paribas Group, Wheels Inc., and ORIX Corporation, among others, are the major players in the global car leasing market.

The global car leasing market is projected to grow at a CAGR of 15% in the forecast period of 2024- 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the rapidly recovering international tourism and the increasing global business leasing segment.

Rapid recovery of travel and tourism to pre-COVID levels is strengthening the market growth of the global car lease market. Global accommodation occupancy rates rose to 65% in November 2023, up from 62% in 2022. Europe is set to lead in 2024, with Romania and Bulgaria joining the Schengen area in March and Paris hosting the Summer Olympics in July-August 2023. Strong U.S. travel, supported by a strong dollar, will benefit the Americas and beyond. Robust markets in Europe, the Americas, and the Middle East will continue driving global tourism flows and spending.

The business lease segment remains dominant due to its popularity among organizations leasing cars for upper management. It offers flexibility and cost savings for employees who can keep the vehicle after their service ends.

The private lease segment of the car leasing market is also growing, driven by younger consumers' preference for access over ownership, aligning with the sharing economy and subscription services trend.

In May 2024, Kia India partnered with Orix Auto Infrastructure Services to launch the "Kia Lease" program. It enhances brand accessibility and provides customers with a hassle-free ownership experience. This initiative, introduced through a Memorandum of Understanding (MoU), allows customers to lease Kia vehicles without worrying about maintenance, insurance, or resale. The first phase has been launched in Delhi NCR, Mumbai, Hyderabad, Chennai, Bengaluru, and Pune.

Top 4 Car Leasing Companies in the World:

ALD Automotive Pvt Ltd

ALD Automotive through its subsidiary Ayvens, offers car leasing services. The company is part of the Societe Generale group, combining their complementary capabilities and expertise to reimagine mobility. The company was founded in Paris in 1968. It has 15,700 employees. It has a fleet of 3.4 million vehicles, which includes 428 thousand in 44 countries.

Arval BNP Paribas Group

Arval, a BNP Paribas Group company founded in 1989, specialises in full-service vehicle leasing and new mobility solutions. The company operates in 29 countries with over 8,400 employees. Arval leased 1.7 million vehicles by December 2023. Its strategy includes vehicle leasing, car sharing, carpooling, bikes, and electric scooters. Arval is a founding member of the Element-Arval Global Alliance and supports the Arval Mobility Observatory for industry insights.

Wheels Inc.

Wheels Inc. is one of the largest fleet management companies in North America. The company has 800,000 vehicles under management. Its global alliance spans 59 countries, serving renowned businesses across various industries. It manages sales and service fleets, trucks and equipment, and last-mile delivery. Committed to customer service, the company supports various businesses, driving their success.

ORIX Corporation

ORIX Group operates globally in 10 diversified business segments. These segments include financing, investment, life insurance, banking, asset management, real estate, concessions, environment and energy, automotive services, industrial/ICT equipment, ships, and aircraft. The company leverages diverse expertise and innovative thinking to drive sustainable development worldwide. The company has 1,132 consolidated companies. In FY 2024, the company accounted for JPY 346.1 billion of net income.