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Global Passenger and Commercial Vehicle Leasing Market Size: By Vehicle Type: Passenger Vehicle, Commercial Vehicle; By Lease Type: Close Ended Lease, Option to Buy Lease, Sub-Vented Lease, Others; By Providers: OEM, Bank Affiliated, Nonbank Financial Companies (NBFCs); By Tenure; Regional Analysis; Competitive Landscape; 2024-2032
Global Passenger and Commercial Vehicle Leasing Market Outlook
The global passenger and commercial vehicle leasing market stood at a value of around USD 84.63 billion in 2023. The market is further expected to grow at a CAGR of 7.6% in the forecast period of 2024-2032 to attain a value of USD 163.56 billion by 2032.
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Heightened Demand for Passenger Vehicles to Augment the Global Passenger and Commercial Vehicle Leasing Industry
Based on vehicle type, the passenger vehicle segment is predicted to hold a significant market share in the passenger and commercial vehicle leasing industry. This can be attributed to the increased demand for personal vehicles among consumers, fuelled by the growing awareness regarding the availability of car leasing services. In addition, the benefits of vehicle leasing, including convenience, tax advantage, no requirement for down payment, and the flexibility in terms of vehicle model upgradation are expected to propel the industry growth in the forecast period.
The Asia Pacific to Occupy a Significant Market Share in the Global Passenger and Commercial Vehicle Leasing Industry
The Asia Pacific is predicted to possess a significant share of the passenger and commercial vehicle leasing industry in the forecast period. This growth can be attributed to the increasing demand for commercial vehicle leasing in the region, fuelled by the rising infrastructure development activities in confluence with the imposition of stringent emission norms. It is further being fuelled by the rapidly rising population and growing urbanisation in the region. These factors are projected to aid the market growth in the forecast period.
Passenger and Commercial Vehicle Leasing: Market Segmentation
Vehicle leasing involves renting a vehicle without a driver for a fixed period of time at an agreed amount of money. These can be passenger vehicles or commercial vehicles given the individual requirements. Individuals do not require to purchase a vehicle and can easily rent it for a limited duration without having to worry about regular maintenance and repair, as the leasing company is responsible for that.
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By vehicle type, the market is divided into:
- Passenger Vehicle
- Commercial Vehicle
The commercial vehicle segment is further bifurcated by type into light commercial vehicle and heavy commercial vehicle.
On the basis of lease type, the market can be segmented into:
- Close Ended Lease
- Option to Buy Lease
- Sub-Vented Lease
- Others
Based on providers, the industry can be segregated into:
- OEM
- Bank Affiliated
- Nonbank Financial Companies (NBFCs)
On the basis of tenure, the market can be distributed into:
- Short Term
- Long Term
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Growing Availability of Electric Vehicles to Provide Lucrative Growth Opportunities for the Passenger and Commercial Vehicle Leasing Industry
The passenger and commercial vehicle leasing industry is anticipated to be aided by the growing availability of electric vehicles worldwide. This can be attributed to the rising environmental consciousness among consumers. In addition, the growing tourism activities worldwide, fuelled by the rising disposable incomes and improved living standards, are also driving the demand for leasing options. Moreover, the rapid digitalisation in the leasing industry to facilitate online leasing services is anticipated to further contribute to the market growth. This trend was further aided by the growing preference of consumers for digital services and the rising smartphone ownership globally.
Key Industry Players in the Global Passenger and Commercial Vehicle Leasing Market
The report gives a detailed analysis of the following key players in the global passenger and commercial vehicle leasing market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Arval BNP Paribas Group
- Wheels Inc.
- ORIX Corporation
- Daimler Truck Financial Services USA LLC
- Merchants Fleet
- Terberg Business Lease Group BV
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
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, Providers, Tenure, Region |
| Breakup by Vehicle Type | Passenger Vehicle, Commercial Vehicle |
| Breakup by Lease Type | Close Ended Lease, Option to Buy Lease, Sub-Vented Lease, Others |
| Breakup by Providers | OEM, Bank Affiliated, Nonbank Financial Companies (NBFCs) |
| 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 |
| Companies Covered | Arval BNP Paribas Group, Wheels Inc., ORIX Corporation, Daimler Truck Financial Services USA LLC, Merchants Fleet, Terberg Business Lease Group BV, Others |
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| 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 Passenger and Commercial Vehicle Leasing Market Analysis
8.1 Key Industry Highlights
8.2 Global Passenger and Commercial Vehicle Leasing Historical Market (2017-2020)
8.3 Global Passenger and Commercial Vehicle Leasing Market Forecast (2024-2032)
8.4 Global Passenger and Commercial Vehicle Leasing Market by Vehicle Type
8.4.1 Passenger Vehicle
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2020)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Commercial Vehicle
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2020)
8.4.2.3 Forecast Trend (2024-2032)
8.4.2.4 Breakup by Type
8.4.2.4.1 Light Commercial Vehicle
8.4.2.4.2 Heavy Commercial Vehicle
8.5 Global Passenger and Commercial Vehicle Leasing Market by Lease Type
8.5.1 Close Ended Lease
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2020)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Option to Buy Lease
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2020)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Sub-Vented Lease
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2020)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Passenger and Commercial Vehicle Leasing Market by Providers
8.6.1 OEM
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2017-2020)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Bank Affiliated
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2020)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Nonbank Financial Companies (NBFCs)
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2017-2020)
8.6.3.3 Forecast Trend (2024-2032)
8.7 Global Passenger and Commercial Vehicle Leasing Market by Tenure
8.7.1 Short Term
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2017-2020)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Long Term
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2017-2020)
8.7.2.3 Forecast Trend (2024-2032)
8.8 Global Passenger and Commercial Vehicle Leasing Market by Region
8.8.1 North America
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2023)
8.8.1.3 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2023)
8.8.2.3 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2023)
8.8.3.3 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2023)
8.8.4.3 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2023)
8.8.5.3 Forecast Trend (2024-2032)
9 North America Passenger and Commercial Vehicle Leasing Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Passenger and Commercial Vehicle Leasing Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Passenger and Commercial Vehicle Leasing Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Passenger and Commercial Vehicle Leasing Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Passenger and Commercial Vehicle Leasing Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 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
15.2.1 Arval BNP Paribas Group
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Wheels Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 ORIX Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Daimler Truck Financial Services USA LLC
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Merchants Fleet
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Terberg Business Lease Group BV
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Passenger and Commercial Vehicle Leasing Market: Key Industry Highlights, 2018 and 2032
2. Global Passenger and Commercial Vehicle Leasing Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
3. Global Passenger and Commercial Vehicle Leasing Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
4. Global Passenger and Commercial Vehicle Leasing Historical Market: Breakup by Lease Type (USD Billion), 2018-2023
5. Global Passenger and Commercial Vehicle Leasing Market Forecast: Breakup by Lease Type (USD Billion), 2024-2032
6. Global Passenger and Commercial Vehicle Leasing Historical Market: Breakup by Providers (USD Billion), 2018-2023
7. Global Passenger and Commercial Vehicle Leasing Market Forecast: Breakup by Providers (USD Billion), 2024-2032
8. Global Passenger and Commercial Vehicle Leasing Historical Market: Breakup by Tenure (USD Billion), 2018-2023
9. Global Passenger and Commercial Vehicle Leasing Market Forecast: Breakup by Tenure (USD Billion), 2024-2032
10. Global Passenger and Commercial Vehicle Leasing Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Passenger and Commercial Vehicle Leasing Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Passenger and Commercial Vehicle Leasing Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Passenger and Commercial Vehicle Leasing Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Passenger and Commercial Vehicle Leasing Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Passenger and Commercial Vehicle Leasing Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Passenger and Commercial Vehicle Leasing Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Passenger and Commercial Vehicle Leasing Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Passenger and Commercial Vehicle Leasing Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Passenger and Commercial Vehicle Leasing Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Passenger and Commercial Vehicle Leasing Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Passenger and Commercial Vehicle Leasing Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Passenger and Commercial Vehicle Leasing Market Structure
Key Questions Answered in the Report
In 2023, the global passenger and commercial vehicle leasing market attained a value of USD 84.63 billion.
The market is projected to grow at a CAGR of 7.60% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 163.56 billion by 2032.
The major drivers of the industry, such as the growing demand for passenger vehicles, increased demand for heavy duty vehicles in the construction industry, rising disposable incomes, improved living standards, and the growing preference for electric vehicles, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the rapid digitalisation and the growing preference for vehicle subscription and ride-hailing services.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant vehicle types considered within the market report include passenger vehicle and commercial vehicle.
The significant lease types include close ended lease, option to buy lease, sub-vented lease, and others.
The different providers considered in the market report include OEM, bank affiliated, and nonbank financial companies (NBFCs).
The major market divisions, based on tenure, include short term and long term.
The major players in the industry are Arval BNP Paribas Group, Wheels Inc., ORIX Corporation, Daimler Truck Financial Services USA LLC, Merchants Fleet, Terberg Business Lease Group BV, and others.
Analyst Review
The global passenger and commercial vehicle leasing market attained a value of USD 84.63 billion in 2023, driven by the growing awareness about the benefits of vehicle leasing and the growing popularity of vehicle subscription. Aided by the rapid digitalisation, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 7.60%. The market is projected to reach a value of USD 163.56 billion by 2032.
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 passenger vehicle and commercial vehicle. On the basis of lease type, the industry can be segmented into close ended lease, option to buy lease, sub-vented lease, and others. Based on provider, the industry can be segregated into OEM, bank affiliated, and nonbank financial companies (NBFCs). The industry can be categorised, based on tenure, into short term and long term. The major regional markets for passenger and commercial vehicle leasing are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Arval BNP Paribas Group, Wheels Inc., ORIX Corporation, Daimler Truck Financial Services USA LLC, Merchants Fleet, Terberg Business Lease Group BV, and others.
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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