Global Leasing Market Size 2024, Forecast To 2033
11 Mar, 2024
The leasing market size has experienced rapid growth, advancing from $1685.5 billion in 2023 to $1856.11 billion in 2024, reflecting a substantial compound annual growth rate (CAGR) of 10.1%. The historic period's expansion can be attributed to the robust growth of emerging markets, heightened demand from the aerospace and defense industry, increased consumer awareness, growth in the used cars market, the upsurge in residential construction activity, and enhanced internet penetration. Moving forward, the leasing market is poised for rapid growth, projecting to reach $2738.03 billion in 2028 with a CAGR of 10.2%. Contributing factors include global population growth and urbanization, the increasing popularity of electric vehicles, the emergence of startups, growth in the healthcare industry, rising infrastructure spending, and the development of mega infrastructure projects. Major trends in the forecast period encompass offering products and services through online portals and mobile applications, investing in the untapped medical equipment segment, implementing IoT technology for efficient fleet management, investing in environmentally friendly equipment and machinery, providing car subscription services for the millennial population, focusing on offering electric vehicles in the portfolio, offering subscription services to meet the increasing demand for affordable fashion, investing in virtual or augmented reality to improve productivity, employing predictive analytics to enhance performance, efficiency, and utilization rates while reducing downtime, and investing in big data technology to enhance customer service and fleet management software to increase operational efficiency.
Global Leasing Market Key Driver
The market is poised to experience a significant boost as startups increasingly become key clients for leasing service providers. Motivated by the need for cost efficiency and the acquisition of often-expensive advanced equipment, startups are opting for equipment rental or leasing. The market is further influenced by the growing number of startups, as highlighted by Fortunly's report stating that in 2022, the United States saw a rise to 33.2 million startups, marking a notable increase of 700,000 compared to 2021. This surge in startup activity is a driving force behind the leasing market's growth. The market sizes for 2023, 2024, and 2028 echo this trend, underlining the market's trajectory and potential.
Get A Free Sample Of The Global Leasing Market ReportGlobal Leasing Market Segments
The leasing market covered in this report is segmented –
1) By Type: Automotive Equipment Leasing, Consumer Goods And General Rental Centers, Machinery Leasing, Lessors Of Nonfinancial Intangible Assets
2) By Mode: Online, Offline
3) By Lease Type: Closed Ended Lease, Option to Buy Lease, Sub-Vented Lease, Other Lease Types
Subsegments Covered: Passenger Car Rental, Passenger Car Leasing, Truck, Utility Trailer, And RV (Recreational Vehicle) Rental And Leasing, Consumer Goods Rental, General Rental Centers, Heavy Construction Machinery Rental, Commercial Air, Rail, and Water Transportation Equipment Rental, Mining, Oil And Gas, And Forestry Machinery And Equipment Rental, Office Machinery And Equipment Rental, Other Commercial And Industrial Machinery And Equipment Rental, Oil Royalty Companies, Patent Owners And Lessors
By Geography:The regions covered in the leasing market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
Asia-Pacific was the largest region in the leasing market in 2023. North America was the second-largest region in leasing market. The regions covered in the leasing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Leasing Industry Players
Volkswagen leasing GmbH, Enterprise Holdings Inc., Mc Donald's Corporation, Daimler, United Rentals Inc., 7 - Eleven, LeasePlan Corporation N.V., Ashtead Group, Deutsche Leasing AG, Tokyo Century, Quippo Infrastructure Limited, GMMCO, Hami Ximeng Trade Co Ltd, Toyota Rentacar, Orix Rentacar, Anji Leasing, China Auto Rental Holdings Inc, EHi Auto Services Co. Ltd, Shenzhen City Extreme Car Rental Co. Ltd, Shouqi Car Rental Co. Ltd, Europcar, Hertz, Avis Budget, Van Anda Aviation, BNP Paribas Leasing Solutions, Oak Leasing, Renault Eurodrive, Sixt, Business Lease Group, KAMAZ Leasing Company, Volvo Finance Service Vostok, VTB Leasing, ALD Automotive, Interleasing Ltd., VEB-leasing, Trust Capital, Wells Fargo Financial Equipment Leasing, Hitachi Capital America Corp, TCF Equipment Finance, Advantage Rent a Car, Aercap Holdings N.V., McDonald's Corporation, Ryder, National Leasing, Canadian Leasing Company, Localiza, Locamerica-Unidas, Best Fleet (Unidas), Ouro Verde, Movida, Safra Leasing S.A., BB Leasing, Leasing Bolívar S.A, HALA Equipment Trading LLC, Perfect Machinery & Equipment Trading & Hire LLC, Arabian Machinery and Heavy Equipment Company, Al Badie Group (ABG), Paramount Leasing & Car Rental LLC, Budget, Barloworld South Africa (PTY) Ltd, Bidvest Car Rental (PTY) Ltd, Car Hire Brokers (PTY) Ltd, CMH Car Hire (PTY) Ltd, Gage Car Rental (PTY) Ltd, Imperial Vehicles, Unitrans Automotive (Pty) Ltd, Sorbet, Mai Thai Wellness Spa, Lanzerac Spa, Niobe Salon and Spa, Marie Noelle's Spa & Salon, Jane'm salon & spa, Ubuntu Wellness Centre.
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Leasing Market Overview
Leasing is a financial arrangement in which a person, company, or other entity pays to use land, a vehicle or other property for a set period. The cash outflow and payments related to leasing are spread out over several years, hence saving the burden of one-time significant cash payments, which helps a business to maintain a steady cash-flow profile.
Leasing Global Market Report 2023 provides data on the global leasing market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The leasing market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.