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Europe Light Commercial Vehicle Leasing Market to Grow at a CAGR of 7.20% During 2022-2027, Aided by the Rising Demand for Light Commercial Vehicles for Various Activities

According to a new report by EMR titled, ‘Europe Light Commercial Vehicle Leasing Market Report and Forecast 2022-2027’, the market attained a value of nearly USD 9.3 billion in 2021. The Europe light commercial vehicle leasing industry is further expected to grow at a CAGR of 7.20% between 2022 and 2027.

The light commercial vehicle leasing market in Europe is being driven by the rising demand for light commercial vehicles for leisure activities, commercial projects, and transportation activities, among others. In addition to this, the growing awareness about the benefits of light commercial vehicles such as fuel efficiency, reduced repair frequency, and enhanced safety, among others, coupled with the changing preference of consumers towards leasing is likely to provide impetus to the market in the forecast period. Moreover, the thriving automotive industry, coupled with the growing research and development activities to bolster the quality and features of light commercial vehicles is anticipated to augment the market growth.

Furthermore, the market is expected to be aided by the growing integration of AI and technologically advanced features to deliver convenient vehicle leasing experience to the customers in the region. The presence of advanced infrastructure, increasing demand for cars, and the thriving transportation sector are supporting this trend. Additionally, the stringent government regulations aimed towards curbing air pollution are likely to catapult the demand for light commercial vehicle leasing in the forecast period in Europe.

In December 2021, Stellantis NV (BIT: STLA) announced its decision to form European car leasing unit to give competition to the rivals. As per the announcement, the company would create a standalone leasing unit with Crédit Agricole, a French lender and one of the company’s main banking partners in Europe.

Globally, various companies operating in the light commercial vehicle leasing market are focusing on improving customer experience by devising innovative strategies. For instance, in May 2021, PacLease, a part of the financial services group of PACCAR Inc (NASDAQ: PCAR),  announced a new fuel program partnership for its full-service lease and contract maintenance customers.

Market Breakup by Vehicle Type, Lease Type, Tenure, and Region:

  • The market is segmented based on vehicle type into pick-up trucks, and vans, among others.
  • The lease types available in the market are closed ended lease, option to buy lease, and sub-vented lease, among others.
  • By tenure, the market has been bifurcated into short term and long term.
  • Region-wise, the market for light commercial vehicle leasing in Europe can be divided into the United Kingdom, Germany, France, and Italy, among others.

Key Findings of the Report:

  • The light commercial vehicle leasing market in Europe is being driven by the increasing awareness pertaining to the benefits of leasing.
  • The rising demand for light commercial vehicles owing to the fuel efficiency, reduced costs of repair, and safety and security offered by the product is likely to augment the market in the forecast period.
  • In addition to this, the market is expected to be bolstered by the increasing investments to offer improved services to customers by integrating digital solutions.
  • The market is anticipated to be further aided by the increasing penetration of key industry players in European countries like Germany, France, and others.

Key Offerings of the Report:

  • The EMR report gives an overview of the Europe light commercial vehicle leasing market for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the vehicle types, lease types, tenure, and regions of light commercial vehicle leasing in Europe.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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