Globally, the market for automotive fleet leasing market is growing at a CAGR of 6.04% during the forecasted period (2017-2023). Fleet lease vehicles are used by all sorts of commercial and public operations. IT Industries, Food & Beverages sector needs vehicles that meet their specific needs, along with the ability to turn repairs and other problems rather than deal with them internally. Leasing such vehicles, it also reduces prices. Moreover, it also provides tax benefits, which vary according to lease type.
North America accounted for the largest market share of 33.17% in 2016 and is projected to grow at a CAGR of 5.16% during the forecast period. U.S. is expected to dominate the market in North America. The U.S. is referred to as a major contributor for the automotive industry and demand for passenger cars, LCV and HCV has increased substantially due to the rising migrants. Moreover, rental car companies, which make up the largest customer segment in the US fleet and lease market. The open-end segment accounted the largest market share because they are primarily used commercial business due to which they possess the higher market share in the market. They offer greater control of asset utilization and disposal. It is usually for 12 months and can terminate the agreement at any point after the end of the term. At the end of the leasing term, the customer is responsible for any excessive damage or additional mileage overages. The passenger vehicles account for more than 50% of the global vehicle production. With the rise in income levels, the passenger vehicle segment has witnessed a significant rise in production and sales. High demand for automobiles is primarily driven by rising demand for passenger car among a large pool of the population, increasing per capita income in emerging countries, and expansion of global auto-manufacturers into new emerging markets and others. the market is driven by various factors such as growing awareness about the benefit of fleet leasing among the customers, the high growth potential for leasing market due to growing demand for leased cars, and people shifting from vehicle purchase to vehicle leasing. there are various factors that can hinder the growth of the market such as pay for the original equipment at the time of collision and restriction in car leasing agreement.
Key Findings
The report covers a brief analysis of geographical region includes: North America, US, Canada, Europe, Germany, France, Italy, U.K., China, India, Japan
Study Objectives of Automotive Fleet Leasing Market
Category: Business Services Market Reports
Contact Details:
Aarkstore Enterprise
+91 7710006788 | contact@aarkstore.com | aarkstore.com
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| Global Automotive Fleet Leasing Market Research Trends and Forecast 2023 by Aarkstore |
North America accounted for the largest market share of 33.17% in 2016 and is projected to grow at a CAGR of 5.16% during the forecast period. U.S. is expected to dominate the market in North America. The U.S. is referred to as a major contributor for the automotive industry and demand for passenger cars, LCV and HCV has increased substantially due to the rising migrants. Moreover, rental car companies, which make up the largest customer segment in the US fleet and lease market. The open-end segment accounted the largest market share because they are primarily used commercial business due to which they possess the higher market share in the market. They offer greater control of asset utilization and disposal. It is usually for 12 months and can terminate the agreement at any point after the end of the term. At the end of the leasing term, the customer is responsible for any excessive damage or additional mileage overages. The passenger vehicles account for more than 50% of the global vehicle production. With the rise in income levels, the passenger vehicle segment has witnessed a significant rise in production and sales. High demand for automobiles is primarily driven by rising demand for passenger car among a large pool of the population, increasing per capita income in emerging countries, and expansion of global auto-manufacturers into new emerging markets and others. the market is driven by various factors such as growing awareness about the benefit of fleet leasing among the customers, the high growth potential for leasing market due to growing demand for leased cars, and people shifting from vehicle purchase to vehicle leasing. there are various factors that can hinder the growth of the market such as pay for the original equipment at the time of collision and restriction in car leasing agreement.
Key Findings
- The global automotive fleet leasing market is expected to reach USD 37,410.9 million by 2023
- Regionally, North- America has the largest market of USD 11,701.0 million by 2023
- China accounted for the largest market share of 46.25% in 2016, with a market value of USD 3,101.6 Million and is projected to grow at the highest CAGR of 6.45% during the forecast period. Japan was the second-largest market in 2016, valued at USD 1,926.7 Million in 2016; it is projected to grow at a CAGR of 7.37%.
- On the basis of Lease type, open-ended segment accounted for the largest market share registering CAGR of 6.32% during the forecasted period
- On basis of vehicle type, segment passenger cars hold the market share of 79.44% in 2016
- Geographic Analysis
The report covers a brief analysis of geographical region includes: North America, US, Canada, Europe, Germany, France, Italy, U.K., China, India, Japan
Study Objectives of Automotive Fleet Leasing Market
- To study the detail of automotive fleet leasing market by lease type, vehicle type, passenger cars type, and by region in the forecasted period 2022.
- To identify the market dynamics of automotive fleet leasing market dynamics by drivers, restraints, opportunities and challenges.
- To analyze various factors like value chain analysis and porters five forces model.
- To provide historically and forecast revenue of the market segment with respect to North America, Europe, APAC and RoW.
- To provide strategic profiling of Key Players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track mergers and acquisitions, strategic alliances, new product development of the specified company.
Category: Business Services Market Reports
Contact Details:
Aarkstore Enterprise
+91 7710006788 | contact@aarkstore.com | aarkstore.com
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