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Global Light Commercial Vehicle Leasing Market to Grow at a CAGR of 8.10% During 2022-2027, Driven by the Rising Investments by Key Players

According to a new report by EMR titled, ‘Global Light Commercial Vehicle Leasing Market Report and Forecast 2022-2027’, the market attained a value of about USD 50.5 billion in 2021. The industry is further expected to grow at a CAGR of 8.10% in the forecast period of 2022-2027 to reach a value of USD 80.2 billion by 2027.

The global light commercial vehicle leasing industry is being driven by the cost-effectiveness and various other advantages of vehicle leasing. Leasing a vehicle helps fulfil the transportation needs of customers while saving time and cost. These services allow customers to rent a car at affordable prices whenever required. Leasing a van or a truck would save the depreciation cost because the vehicle is returned by the customer after its utilisation. The fixed monthly payable amount associated with leasing helps better manage the business cash flow.

Geographically, Europe and North America are significant regions leading the growth of the industry. Various companies are offering door to door vehicle leasing services to customers. Furthermore, the increasing investments by the key players to improve their product portfolio is augmenting the market growth. 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. It partnered with Multi Service Fuel Card, a subsidiary of TreviPay, for its Co-branded fuel card, called PacFuel. In another case, in March 2021, Hertz Global Holdings, Inc. (NASDAQ: HTZ) announced the completion of the sale of fleet management leader Donlen Corporation, its wholly owned subsidiary, to Athene Holding.

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

  • The market on the basis of vehicle type can be divided into pick-up truck, and van, among others.
  • Based on lease type, the industry can be divided into closed ended lease, option to buy lease, and sub-vented lease, among others.
  • Based on tenure, the light commercial vehicle leasing industry is segmented into short term and long term.
  • The regional markets for light commercial vehicle leasing include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The less maintenance cost with various tax benefits offered by leasing services is leading to the growth of the market.
  • The increasing demand for light commercial vehicles, coupled with vehicle leasing benefits that help save cost and time, is a driving factor for the industry.
  • Availability of a wide variety of options in light commercial vehicles is also aiding the market expansion.
  • The increasing investments by key industry players to offer innovative services is driving the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global light commercial vehicle leasing market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the vehicle types, lease types, tenure, and regions of light commercial vehicle leasing.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with 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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