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Global Light Commercial Vehicle Leasing Market Size, Trends: By Vehicle Type: Pick-Up Trucks, Vans, Others; By Lease Type: Closed Ended Lease, Option to Buy Lease, Sub-Vented Lease, Others; By Tenure; Short Term, Long Term; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Light Commercial Vehicle Leasing Market Outlook
The global light commercial vehicle leasing market attained a value of USD 50.5 billion in 2021. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 8.10% to reach USD 80.2 billion by 2027.
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Europe and North America to Drive the Market for Light Commercial Vehicle Leasing
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: Market Segmentation
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.
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Based on vehicle type, the market is divided into:
- Pick-Up Trucks
- Vans
- Others
The market can be broadly categorised on the basis of lease type into:
- Closed Ended Lease
- Option to Buy Lease
- Sub-Vented Lease
- Others
The market can be broadly categorised on the basis of tenure into:
- Short Term
- Long Term
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.
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Increasing Investments by the Key Players to Drive the Market for Light Commercial Vehicle Leasing
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.
Key Industry Players in the Global Light Commercial Vehicle Leasing Market
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.
Key Highlights of the Report
| 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- Vehicle Type, Lease Type, Tenure, Region |
| Breakup by Vehicle Type | Pick-Up Trucks, Vans, Others |
| Breakup by Lease Type | Closed Ended Lease, Option to Buy Lease, Sub-Vented Lease, Others |
| Breakup by Tenure | Short Term, Long Term |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| 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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Light Commercial Vehicle Leasing Market Analysis
8.1 Key Industry Highlights
8.2 Global Light Commercial Vehicle Leasing Historical Market (2018-2023)
8.3 Global Light Commercial Vehicle Leasing Market Forecast (2024-2032)
8.4 Global Light Commercial Vehicle Leasing Market by Vehicle Type
8.4.1 Pick-Up Trucks
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Vans
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Others
8.5 Global Light Commercial Vehicle Leasing Market by Lease Type
8.5.1 Closed Ended Lease
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Option to Buy Lease
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Sub-Vented Lease
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Light Commercial Vehicle Leasing Market by Tenure
8.6.1 Short Term
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Long Term
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Light Commercial Vehicle Leasing Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Light Commercial Vehicle Leasing Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Light Commercial Vehicle Leasing Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Light Commercial Vehicle Leasing Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Light Commercial Vehicle Leasing Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Light Commercial Vehicle Leasing Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Light Commercial Vehicle Leasing Market: Key Industry Highlights, 2018 and 2032
2. Global Light Commercial Vehicle Leasing Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
3. Global Light Commercial Vehicle Leasing Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
4. Global Light Commercial Vehicle Leasing Historical Market: Breakup by Lease Type (USD Billion), 2018-2023
5. Global Light Commercial Vehicle Leasing Market Forecast: Breakup by Lease Type (USD Billion), 2024-2032
6. Global Light Commercial Vehicle Leasing Historical Market: Breakup by Tenure (USD Billion), 2018-2023
7. Global Light Commercial Vehicle Leasing Market Forecast: Breakup by Tenure (USD Billion), 2024-2032
8. Global Light Commercial Vehicle Leasing Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Light Commercial Vehicle Leasing Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Light Commercial Vehicle Leasing Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Light Commercial Vehicle Leasing Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Light Commercial Vehicle Leasing Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Light Commercial Vehicle Leasing Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Light Commercial Vehicle Leasing Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Light Commercial Vehicle Leasing Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Light Commercial Vehicle Leasing Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Light Commercial Vehicle Leasing Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Light Commercial Vehicle Leasing Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Light Commercial Vehicle Leasing Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Light Commercial Vehicle Leasing Market Structure
Key Questions Answered in the Report
In 2021, the global light commercial vehicle leasing market attained a value of nearly USD 50.5 billion.
The market is projected to grow at a CAGR of 8.10% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 80.2 billion by 2027.
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.
Analyst Review
The global light commercial vehicle leasing market attained a value of USD 50.5 billion in 2021, driven by the increased demand for light commercial vehicles across industry verticals. Aided by the rising investments by the key market players in deploying app-based leasing solutions, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 8.10%. The market is projected to reach a value of USD 80.2 billion by 2027.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By vehicle type, the market can be distributed into pick-up trucks, vans, and others. On the basis of lease type, the industry can be segmented into drug close ended lease, option to buy lease, sub-vented lease, and others. The industry can be categorised, based on tenure, into short term and long term. The major regional markets for light commercial vehicle leasing are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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 market insights that are accurate, actionable, and help them remain ahead of their competition.
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