The enterprise asset leasing market size has grown rapidly in recent years, increasing from $986.85 billion in 2023 to $1,103.27 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth in this historic period is attributed to factors such as cost efficiency, regulatory compliance, operational flexibility, expansion into new markets, and increasing adoption across various industries. Looking to the future, the enterprise asset leasing market is expected to experience substantial growth, projected to reach $1,742.14 billion in 2028 at a CAGR of 12.1%. The growth during the forecast period can be linked to developments in emerging markets, shifting customer preferences toward subscription-based models, increased emphasis on cybersecurity for leased assets, and innovations in lease financing options. Major trends anticipated in this market include a focus on renewable energy and sustainable technologies, integration of artificial intelligence and IoT for asset monitoring and management, growth in leasing specialized industrial equipment for manufacturing and logistics, adoption of blockchain technology for transparent lease agreements, rising popularity of short-term and on-demand leasing models, and an enhanced focus on cybersecurity measures for leased assets.
Major Driver In The Enterprise Asset Leasing Market
The rising demand for commercial vehicles is projected to drive the enterprise asset leasing market. Commercial vehicles are essential for transporting goods or passengers for business purposes and play a vital role in industries like logistics, transportation, construction, and public services. The growing demand for commercial vehicles is fueled by increasing urbanization, expanding industries, and a higher demand for goods and services. Enterprise asset leasing provides businesses with flexible financing options, allowing them to acquire and maintain fleets without significant upfront costs. For example, in January 2022, the European Automobile Manufacturers' Association reported that commercial vehicle registrations in the EU increased by 9.6%, reaching 1.88 million units in 2021. As a result, the rising demand for commercial vehicles will continue to drive the growth of the enterprise asset leasing market, projected to reach a market size of $X billion in 2023, $Y billion in 2024, and $Z billion in 2028.
Request A Free Sample Of The Enterprise Asset Leasing Market Report
Enterprise Asset Leasing Market Competitive Landscape
Major companies operating in the enterprise asset leasing market are General Electric Company, John Deere Financial, BNP Paribas SA, Komatsu Financial LP, Liebherr-International Deutschland GmbH, Wells Fargo & Company, Orix Corporation, LeasePlan Corporation N.V., United Rentals Inc., Deutsche Leasing AG, Fifth Third Bank, Ashtead Group plc, Bohai Leasing Co. Ltd., Herc Rentals Inc., Caterpillar Financial Services Corporation, CIT Group Inc., De Lage Landen International BV, Maxim Crane Works L.P., Ahern Rentals Inc., Marlin Business Services Corp., BlueLine Rental, Mitsubishi HC Capital Inc., Mexarrend S.A.P.I. de C.V., ICBC Financial Leasing Co. Ltd
Key Enterprise Asset Leasing Market Trend
Major companies in the enterprise asset leasing market are concentrating on advanced financing options, such as all-inclusive leasing packages, to attract customers by providing a more convenient and cost-effective solution for asset management. All-inclusive leasing packages offer comprehensive services, including maintenance, repairs, and insurance, all covered under a single lease payment, making the process easier for the lessee. For example, in October 2022, Volvo Construction Equipment, a Sweden-based construction solutions provider, introduced a new leasing option for its electric compact equipment. This all-inclusive leasing package for electric compact equipment in the U.S. and Canada is available through Volvo Financial Services (VFS). This innovative financing solution simplifies ownership by bundling charging, maintenance, repairs, and extended coverage, offering savings of up to 15% compared to purchasing items separately. Key features include an equipment maintenance plan, extended repair coverage beyond the factory warranty, optional physical damage insurance in the U.S., and the ability to finance a charger within the same lease terms, resulting in a single, consolidated monthly payment.
Purchase The Global Enterprise Asset Leasing Market Report Directly And Get A Swift Delivery
Global Enterprise Asset Leasing Market Segmentation
The enterprise asset leasing market covered in this report is segmented –
1) By Asset Type: Commercial Vehicles, Machinery And Industrial Equipment, Real Estate, Information Technology (IT) Equipment, Other Asset Types
2) By Leasing Type: Operating Lease, Financial Lease
3) By Enterprise Size: Large Enterprises, Small And Medium Enterprises
4) By Industry Vertical: Transportation And Logistics, Manufacturing, Construction, Information Technology (IT) And Telecommunications, Government And Public Sector, Other Industry Verticals
By Geography:The regions covered in the enterprise asset leasing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the enterprise asset leasing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Enterprise Asset Leasing Global Market Report 2024 furnishes information about the global enterprise asset leasing market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
