Global $463 Billion Automotive Equipment Leasing Markets, 2015-2020, 2020-2025F, 2030F
DUBLIN, March 9, 2021 /PRNewswire/ -- The "Automotive Equipment Leasing Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
The global automotive equipment leasing market is expected to grow from $259.23 billion in 2020 to $334.74 billion in 2021 at a compound annual growth rate (CAGR) of 29.1%.
Automotive Equipment Leasing Global Market Report 2021: COVID-19 Impact and Recovery to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global automotive equipment leasing market as it emerges from the COVID-19 shut down.
Major companies in the automotive equipment leasing market include United Rental; Sunbelt Rental; Blueline Rental; H&E Equiment Services and Home Depot Rentals.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $463.96 billion in 2025 at a CAGR of 9%.
The automotive equipment leasing market consists of sales of automotive equipment renting or leasing services by entities (organizations, sole traders and partnerships) that provide passenger cars and truck/vans, utility trailer, and recreational vehicle (RV) without drivers and utility trailers. These establishments generally operate a retail store like facility for automotive equipment renting and leasing.
Some automotive equipment rental and leasing companies offer short-term rental or long-term leases, while others provide both types of services. The automotive equipment leasing market is segmented into passenger car rental; passenger car leasing; and truck, utility trailer, and RV (recreational vehicle) rental and leasing.
Asia Pacific was the largest region in the global automotive equipment leasing market, accounting for 33% of the market in 2020. Western Europe was the second largest region accounting for 31% of the global automotive equipment leasing market. Africa was the smallest region in the global automotive equipment leasing market.
Automotive equipment leasing companies are using technologies such as big data to improve customer service and increase vehicle life. Big data involves large amounts of data that can be analysed to gain insights and drive decision making. Big data would allow the leasing company to remind the driver to book a car for the service or replace engine oil.
This technology could also help leasing companies in minimizing driver risk and prevent the number of accidents, by giving the companies insights about the driving habits and whereabouts of its fleet. Companies such as Lex Auto lease have been increasingly using big data to drive cost reduction and risk mitigation.
Technological advances will be a key driver of the automotive equipment rental and leasing market in the forecast period. Digital technologies such as the internet of things (IoT) and big data are increasingly being used by car leasing companies to better manage their fleet, reduce operational costs and improve customer service. Innovations in mobility technologies such as in-car navigation and automation will also drive the demand for leased vehicles, especially in millennial.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Automotive Equipment Leasing Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Automotive Equipment Leasing Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Automotive Equipment Leasing Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Automotive Equipment Leasing Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Automotive Equipment Leasing Market Trends and Strategies
8. Impact of COVID-19 on Automotive Equipment Leasing
9. Automotive Equipment Leasing Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers of the Market
9.2.2. Restraints on the Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers of the Market
9.3.2. Restraints on the Market
10. Automotive Equipment Leasing Market Regional Analysis
10.1. Global Automotive Equipment Leasing Market, 2020, by Region, Value ($ Billion)
10.2. Global Automotive Equipment Leasing Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Automotive Equipment Leasing Market, Growth and Market Share Comparison, by Region
11. Automotive Equipment Leasing Market Segmentation
11.1. Global Automotive Equipment Leasing Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Passenger Car Rental
- Passenger Car Leasing
- Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing
11.2. Global Automotive Equipment Leasing Market, Segmentation by Mode, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Online
- Offline
12. Automotive Equipment Leasing Market Metrics
12.1. Automotive Equipment Leasing Market Size, Percentage of GDP, 2015-2025, Global
12.2. Per Capita Average Automotive Equipment Leasing Market Expenditure, 2015-2025, Global
Companies Mentioned
- United Rental
- Sunbelt Rental
- Blueline Rental
- H&E Equiment Services
- Home Depot Rentals
For more information about this report visit https://www.researchandmarkets.com/r/kgh87h
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article