As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
The global car leasing market value is expected to grow at a CAGR of nearly 15% in the forecast period of 2021-2026 due to the increasing demand for car leasing.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
The global car leasing volume distribution is primarily concentrated in Europe, followed by the Asia Pacific, and the Americas. The company car leasing industry reached a volume of 8 million units in 2020. The volume of the company car leasing market is expected to grow at a CAGR of 4% in the forecast period of 2021-2026 to reach a volume of around 10.12 million units by 2026.
The significant regions in the car leasing industry are the United States, Canada, several parts of Western Europe, Japan, and Australia. Car leasing is popular in North America and Europe. While purchasing is the preferred model in regions like Latin America and the Asia Pacific, large companies in these regions are shifting towards leasing.
North America is one of the largest markets for fleet management and leasing. Centralization of fleet sourcing, as well as control, is driving the market in North America. Key players are currently working to centralize their car sourcing and management, ensuring better consistency and transparency of spending and allowing better control and strategic focus to be achieved. Many consumers have started to shift towards alternative fuel vehicles to save tax. The increasing traffic problems and parking issues have led the companies to consider shared mobility solutions, such as ride-hailing services.
After North America, Europe is one of the most profitable markets with most global service providers providing all the primary fleet services starting from vehicle orders to disposal. Several other leading suppliers have also begun offering mobility solutions, such as ridesharing. Alternating options for company cars, such as car-sharing and other mobility solutions, would minimize the current fleet size and thus reduce the overall cost of ownership of the car fleet. The market in Europe is being aided by the rising trend of the creation of a single flexible budget for workers, which they are free to spend on all travel needs. Some of the companies combine fleet and travel categories under a single mobility administrator.
Car leasing includes a variety of functions, such as vehicle leasing and financing, health, and safety management, vehicle maintenance, licensing and enforcement, driver management, speed management, supply chain management, accident, and subrogation management, vehicle telematics, fuel management, and vehicle observation. Car leasing is a function that enables companies (that rely on business transport) to eliminate or reduce the risks linked with vehicle investment, improve efficiency and productivity, reduce overall transport and staff costs and ensure total compliance with government legislation. It finds its end-uses in commercial and non-commercial sectors.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
The market can be divided into the following vehicle types:
On the basis of lease type, the market can be divided into:
The different types of providers for the market are:
The tenure for car leasing could be short term or long term.
The EMR report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
The drivers for the car leasing industry include the centralization of fleet sourcing and management. Driverless or self-driving vehicles are also supporting the growth of the market. Mobility management is important due to the increasing issues of traffic as well as parking issues. Fleet management makes it more organised and reduces parking issues to an extent. Car sharing is another driver, propelling the market further. It is also helping in reducing traffic and parking problems.
Many consumers have now started leasing the vehicles, instead of buying them, especially as the world economy is witnessing a slow growth. Fleet is one of the significant spend areas, and consumers prefer outsourcing the fleet management functions to concentrate on their core business functions. The reduction of overhead costs by companies is also aiding the car leasing industry growth. The rising sales force that demands mobility solutions is leading to an increased fleet size, which is driving the car leasing industry further. The increasing adoption of electric vehicles and a reduction of diesel cars are expected to drive the industry further. Emerging economies in the Asia Pacific present a lucrative market growth opportunity for the industry players.
The report gives a detailed analysis of the following key players in the global car leasing market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The top car manufacturers in terms of market share are as follows:
The comprehensive EMR report provides an in-depth assessment of the industry based on Porter’s five forces model, along with giving a SWOT analysis.
*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.
1.1 Objectives of the Study
1.1.1 Research Objective
1.1.2 Key Findings of the Report
2 Research Methodology
2.1 Data Extraction
2.2 Data Corroboration
2.3 Market Structure
2.5 Market Models
3.1 Market Outlook
3.2 Market Scope and Segmentation
3.3 Additional Insights
4 Executive Summary
4.1 Key Market Developments
4.2 Market Analysis
4.3 Key Players
4.4 Cost Structure
4.5 Market Revenue and Growth
5 Market Dynamics
5.1 Market Driver Analysis
5.2 Market Restraint Analysis
5.3 Industry Challenges
5.4 Industry Opportunities
6 Global Car Leasing Market Analysis
6.1 Figure: Global Car Leasing Market Historical Market (2016-2020) & Forecast (2021-2026)
6.2 Chart: Global Car Leasing Market Breakup by Vehicle Type
6.2.1 Passenger Vehicle
6.2.2 Commercial Vehicle
6.3 Figure: Global Car Leasing Market Breakup by Vehicle Type: Historical Market (2016-2020) & Forecast (2021-2026)
6.3.1 Passenger Vehicle
6.3.2 Commercial Vehicle
6.4 Chart: Global Car Leasing Market Breakup by Lease Type
6.4.1 Closed Ended Lease
6.4.2 Option to Buy Lease
6.4.3 Sub-Vented Lease
6.5 Figure: Global Car Leasing Market Breakup by Lease Type: Historical Market (2016-2020) & Forecast (2021-2026)
6.5.1 Closed Ended Lease
6.5.2 Option to Buy Lease
6.5.3 Sub-Vented Lease
6.6 Chart: Global Car Leasing Market Breakup by Service Provider Type
6.6.2 Bank Affiliated
6.7 Figure: Global Car Leasing Market Breakup by Service Provider Type: Historical Market (2016-2020) & Forecast (2021-2026)
6.7.2 Bank Affiliated
6.8 Chart: Global Car Leasing Market Breakup by Tenure
6.8.1 Short Term
6.8.2 Long Term
6.9 Figure: Global Car Leasing Market Breakup by Tenure: Historical Market (2016-2020) & Forecast (2021-2026)
6.9.1 Short Term
6.9.2 Long Term
6.10 Chart: Global Car Leasing Market Breakup by End Use
6.11 Figure: Global Car Leasing Market Breakup by End Use: Historical Market (2016-2020) & Forecast (2021-2026)
6.12 Chart: Global Car Leasing Market Breakup by Regions
6.12.1 North America
188.8.131.52 United States of America
184.108.40.206 United Kingdom
6.12.3 Asia Pacific
6.12.4 Latin America
6.12.5 Middle East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 United Arab Emirates
22.214.171.124 South Africa
6.13 Figure: Global Car Leasing Market Breakup by Regions: Historical Market (2016-2020) & Forecast (2021-2026)
6.13.1 North America
126.96.36.199 United States of America
188.8.131.52 United Kingdom
6.13.3 Asia Pacific
6.13.4 Latin America
6.13.5 Middle East and Africa
184.108.40.206 Saudi Arabia
220.127.116.11 United Arab Emirates
18.104.22.168 South Africa
7 SWOT Analysis
8 Porter’s Five Forces Analysis
8.2 Buyer’s Power
8.3 Supplier’s Power
8.4 New Entrants
8.5 Degree of Rivalry
9 Procurement Strategy
9.1 Sourcing Models
9.2 Engagement Strategy
9.3 Contract Terms
9.4 Pricing Models
9.5 Corporate Policies
10 Cost Analysis
10.1 Fuel, Cost of Capital/Finance
10.2 Maintenance and Service
10.3 Cost of Operations
10.4 Vehicle Safety and Environmental Features
10.5 Accident Services
10.6 Sales and Marketing
10.7 Traffic Violations, Fines, License, Taxes, Tolls and Tolls Management
10.8 Roadside Assistance
10.9 Diver safety and Training
10.10 Vehicle Re-Marketing, Re-Sale, Disposal
11 Competitive Landscape & Supplier Analysis
11.1 Key Car Leasing Suppliers
11.1.1 ALD Automotive Pvt Ltd
22.214.171.124 Company Overview
126.96.36.199 Financial Analysis
11.1.2 Arval BNP Paribas Group
188.8.131.52 Company Overview
184.108.40.206 Financial Analysis
220.127.116.11 Company Overview
18.104.22.168 Financial Analysis
11.1.4 Wheels, Inc.
22.214.171.124 Company Overview
126.96.36.199 Financial Analysis
11.1.5 ORIX Corporation
188.8.131.52 Company Overview
184.108.40.206 Financial Analysis
11.1.6 Volkswagen Financial Services
220.127.116.11 Company Overview
18.104.22.168 Financial Analysis
11.1.7 Sixt Leasing
22.214.171.124 Company Overview
126.96.36.199 Financial Analysis
11.2 Top Car Manufacturers: Market Share (%)
11.2.1 Volkswagen Group
11.2.2 Toyota Motor Corporation
11.2.3 Renault–Nissan–Mitsubishi Alliance
11.2.4 General Motors
11.2.6 Ford Group
11.2.7 Honda Motor
11.2.10 Mercedes Daimler
12 Industry Events and Developments
The global car leasing market is projected to grow at a CAGR of nearly 15% in the forecast period of 2021-2026. The company car leasing industry attained a volume of 8 million units in 2020. It is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 4%. The company car leasing industry is projected to reach almost nearly 10.12 million units by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on vehicle type, the market can be bifurcated into passenger and commercial vehicles. The lease types available in the market can be close ended, option to buy, and sub-vented lease, among others. Service providers can be OEM and bank affiliated, among others, while the tenure can be short or long term. Based on its end-use sectors, the market can be segmented into commercial and non-commercial sectors. The major regional markets for the product are North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa. The key players in the above industry include ALD Automotive Pvt Ltd, Arval BNP Paribas Group, LeasePlan, Wheels, Inc., ORIX Corporation, Volkswagen Financial Services, and Sixt Leasing, among others.
The major drivers of the industry such as rising disposable incomes, increasing population, centralization of fleet sourcing, slowing economic growth leading to consumers leasing rather than buy cars, and rising traffic and parking issues are driving the growth of the market globally. EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with industry insights that are accurate, actionable, and help them remain ahead of their competition.
EMR’s approach gives their clients a comprehensive assessment of the prevailing and projected industry conditions through the collection, collation, and analysis of data from trusted sources. The key questions answered in the market study are:
Single User License
Five User License
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.