{"id":570511,"date":"2021-10-22T18:44:01","date_gmt":"2021-10-22T18:44:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=570511"},"modified":"2021-10-22T18:44:01","modified_gmt":"2021-10-22T18:44:01","slug":"car-leasing-market-research-report-by-tmr-includes-post-covid19-analysis-and-market-forecast-for-new-normal","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/car-leasing-market-research-report-by-tmr-includes-post-covid19-analysis-and-market-forecast-for-new-normal_570511.html","title":{"rendered":"Car Leasing Market Research Report by TMR Includes Post COVID-19 Analysis and Market Forecast for New Normal"},"content":{"rendered":"
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Car Leasing Market<\/div>\n<\/div>\n<\/div>\n
Car leasing market is expanding at a CAGR of 9% during the forecast period, changing consumer preference toward newer mobility models, such as leasing, and changing consumer sentiments associated to car ownership are driving the market<\/div>\n

Car Leasing Market: Introduction<\/strong><\/p>\n

According to the report, the global car leasing market<\/a> is projected to surpass US$ 1 Trn by 2030, expanding at a CAGR of ~9% during the forecast period. Changing consumer preference toward newer mobility models, such as leasing, and changing consumer sentiments associated to car ownership are driving the car leasing market. Zero down payment and tax benefits have influenced the preference of consumers toward car leasing from traditional ownership.<\/p>\n

Expansion of Car Leasing Market<\/strong><\/p>\n

Auto manufacturers are venturing into newer revenue pools such banking services and finance to minimize business risk and evolve with the changing landscape of the auto industry. The decline in car sales has compelled automakers to enter the “Car-as-a-Service” business models and is estimated to further boost the car leasing market. Almost all international automakers have a financial service business division and is involved in car leasing and financing options. Financial services have gained a significant share of around 10% to 20% of automakers’ revenue.<\/p>\n

Based on lease type, the financial lease segment held a notable share of the global car leasing market. Finance leasing is a robust business model to use and attain car ownership during the end-of tenure and is extremely popular in North America with lower interest rates and zero\/ minimum down payments. However, the operating lease segment is expanding at a higher growth rate due to consumer demand for flexible options and disinterest in ownership. In terms of provider, OEM\/captives and NBFCs segments are anticipated to expand at a high growth rate during the forecast period. Expansion of the car leasing market and rising consumer interest in car leasing are prompting the entry of captives and NBFCs in the market.<\/p>\n

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Regional Analysis of Car Leasing Market<\/strong><\/p>\n

In terms of region, the global car leasing market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe and North America, together, held a leading share of the global car leasing market in 2018, owing to higher preference for car leasing among consumers in these regions. India and China GDP have registered exponential growth during the last decade and witnessed expansion in financial sector & services. Rising consumer awareness and consumer purchase parity is projected to boost the car leasing market in these countries. India and China accounts for a prominent share globally in terms of number of vehicle sales and growth of car leasing in these countries is bound to significantly boost the global revenue.<\/p>\n

Latin America is home to a large domestic automotive industry with car leasing being a relatively newer concept. Improved credit evaluation and increase in activity of captives are estimated to boost the car leasing market in countries across Latin America. Economies in Latin America are stabilizing due to expansion of NBFCs & captives and traditional banks, which in turn is projected to boost the car leasing market in developing regions such as Latin America.<\/p>\n

Prominent players operating in the global car leasing market include ORIX, ALD Automotive, Avis Budget Group, Sixt, Enterprise, Hertz, Arval, Leaseplan, Europcar, Movida, CAR Inc., Daimler Financial Services, and General Motors Financial Company.<\/p>\n

Buy an Exclusive Research Report at – <\/strong>https:\/\/www.transparencymarketresearch.com\/checkout.php?rep_id=42395&ltype=S<\/a><\/p>\n

Winning Imperatives: EVs and Digitization Trend Boost Market Growth<\/strong><\/p>\n

Various market drivers are triggering growth of the car leasing market. As such, OEMs are migrating toward electric vehicle (EV) leasing, since the rate of depreciation for EVs is much higher than that of traditional internal combustion engine counterparts. Moreover, car leasing saves customers from the hassles of resale value after owning vehicles. As such, car leasing in the EV sector opens a plethora of options for customers, since periodically new EV models are introduced in the market.<\/p>\n

The trend of digitization is creating a huge impact in the car leasing market as well as the automotive industry. Companies in the car leasing market are leveraging their profit margins and enhancing consumer experience by investing in digitization technologies, such as blockchain. Likewise, lessors are adopting data analytics since an average connected car generates large GBs of data on an hourly basis. With the help of data, car operators can evaluate and develop strategies to enhance the experience of lessees.<\/p>\n

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About Us<\/strong><\/p>\n

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyse information.<\/p>\n

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.<\/p>\n

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Car Leasing Market Car leasing market is expanding at a CAGR of 9% during the forecast period, changing consumer preference toward newer mobility models, such as leasing, and changing consumer sentiments associated to car ownership are driving the market Car … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[401,410,412,411,404],"tags":[],"class_list":["post-570511","post","type-post","status-publish","format-standard","hentry","category-Business","category-Manufacturing-Industry","category-News-Current-Affairs","category-Technology","category-US"],"_links":{"self":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/570511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/comments?post=570511"}],"version-history":[{"count":0,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/570511\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/media?parent=570511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/categories?post=570511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/tags?post=570511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}