Global Automotive fleet leasing market Information by lease Type (Open Ended and Close Ended), by vehicle type (Passenger Cars, LCV and HCV) And Region – Forecast To 2023
Market research future published a cooked research report on global automotive fleet leasing market. The global market for global automotive fleet leasing market is expected to grow from USD 24976.1 million in 2016 to USD 37410.9 million in the year 2023, at the CAGR of 6.04% during the period, 2017 to 2023.
The growth of automotive fleet leasing market is majorly driven by the growth in the automotive sector, growing awareness of the advantages of fleet leasing and high growth potential for leasing market. People prefer vehicle fleet leasing due to benefits such as lower cost of hiring, access to fuel expenditure records, tracking of mileage and location, assistance in insurance claims & repairs, and superior operational management of fleet. Also, there is a small investment required for a lease as compared to outright purchase. These drive the growth of the market. However, restrictions in car leasing agreement, and the cost of original equipment in case of repair due to collision, are expected to hinder the growth of the automotive fleet leasing market.
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Market Research Analysis:
Based on lease type, the open ended segment is expected to grow with the highest CAGR during the forecast period. Open-end leases are used primarily for commercial business leasing and offer greater control of asset utilization and disposal. It is usually for 12 months and the agreement can be terminated 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.
Based on vehicle type, the passenger cars segment will account for the largest market share with 79 % in the global automotive fleet leasing market due to growth in automotive industry.
The key players of global Automotive fleet leasing market includes ARI (New Jersey), Glesby Marks (Texas), LeasePlan Corporation N.V. (Netherlands), AutoFlex AFV (U.S.), Velcor Leasing Corporation (U.S.), Caldwell fleet leasing (U.S.),Wheel, Inc. (U.S.), PRO Leasing Services (U.S.), Jim Pattison Lease (Canada), Sixt Leasing SE(Germany).
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Scope of the Report
This study provides an overview of the global automotive fleet leasing market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global automotive fleet leasing market by its lease type, vehicle type and region.
By lease Type
- Open Ended
- Close Ended
By Vehicle Type
- Passenger Cars
- North America
- Asia Pacific
- Rest of the World
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