Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
Base Year
Historical Year
Forecast Year
The global light commercial vehicle leasing market attained a value of USD 59.01 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 8.1% to reach USD 118.95 billion by 2032.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Geographically, Europe and North America are the significant regions contributing to the growth of the light commercial vehicle leasing industry. The increased awareness among consumers regarding the benefits of leasing has aided the market growth in the regions. Companies are increasingly opting for business car leasing to cut down their expenses. Additionally, the growing trend of creating a single flexible budget for workers, which can be spent on varied travel needs, is helping the European market to grow at a steady pace. Meanwhile, in the developing countries of the Asia Pacific, the market is expected to grow due to a shift towards light commercial vehicle leasing over purchasing due to its affordability. Leasing of LCV helps save cost and time. Moreover, the availability of various options, such as closed ended lease or sub-vented lease, is leading to the growth of the market.
Light commercial vehicle leasing refers to the renting of four-wheeled motor vehicle for commercial purposes such as the transportation of goods. A person can also rent the light commercial vehicle for a short period of time with an agreed fee. Companies opting for business car leasing can get their contracts tailored to fit all their needs and requirements. Opting for vehicle leasing services helps save time and money, allowing the companies/clients to focus on their core business.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Based on vehicle type, the market is divided into:
The market can be broadly categorised on the basis of lease type into:
The market can be broadly categorised on the basis of tenure into:
The EMR report looks into the regional markets of light commercial vehicle leasing 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 centralisation of fleet sourcing and administration is one of the driving forces for the market. Companies can lease light commercial vehicles based on their requirements and expand their commercial fleet to increase profits without incurring significant costs. The vehicle leasing services help save costs as they allow clients to lease LCVs whenever required. It also helps in cutting-down the maintenance cost of the vehicle. Furthermore, in some cases, there is no need for the down payment as well. Nowadays, companies are seeking to lease light commercial vehicles because a lease amount is eligible for tax relief under the company’s car lease program. These factors have been significantly contributing to the market growth. Apart from this, the rising investment by the key players, such as to offer app-based solutions and real-time booking options, to enhance customer experience is expected to further aid the market for light commercial vehicle leasing.
However, the COVID-19 pandemic has negatively impacted the market for light commercial vehicle leasing due to travel restrictions imposed by the governments worldwide. Nonetheless, in the aftermath of the pandemic, vehicle leasing services are expected to gain significant traction.
The report presents a detailed analysis of the key players in the global light commercial vehicle leasing market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
Breakup by Vehicle Type |
|
Breakup by Lease Type |
|
Breakup by Tenure |
|
Breakup by Region |
|
Market Dynamics |
|
Competitive Landscape |
|
Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Get in touch with us today for customized, data-driven solutions tailored to your unique requirements!
In 2023, the global light commercial vehicle leasing market attained a value of nearly USD 59.01 billion.
The market is projected to grow at a CAGR of 8.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 118.95 billion by 2032.
The major drivers of the industry, such as the increased demand for light commercial vehicle across industry verticals, rapid industrialisation, increased availability of vehicle leasing services, rising awareness regarding the benefits offered by vehicle leasing services, and rapidly expanding e-commerce industry, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the rising investments by the leading market players in deploying app-based leasing solutions.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant market divisions based on vehicle type include pick-up trucks, vans, and others.
The major market divisions based on lease type include close ended lease, option to buy lease, sub-vented lease, and others.
The different market segments, on the basis of tenure, include short term and long term.
Purchase Full Report
Datasheet
Single User License
One User
Five User License
Five Users
Corporate License
Unlimited Users
How To Order
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124