Automotive Equipment Leasing Global Market To Reach Value Of About $464 Billion In 2025
30 Mar, 2021
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.
Global Automotive Equipment Leasing Market Size And Drivers:
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%. The market is expected to reach $463.96 billion in 2025 at a CAGR of 9%. Technological advances will be a key driver of the automotive equipment rental and leasing market in the forecast period.
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Trends 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 analyzed 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.
Global Automotive Equipment Leasing Market Segments:
The global automotive equipment leasing market is further segmented based on type, mode and geography.
By Type: Passenger Car Rental, Passenger Car Leasing, Truck, Utility Trailer, And RV (Recreational Vehicle) Rental And Leasing.
By Mode: Online, Offline.
By Geography: The global automotive equipment leasing market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global automotive equipment leasing market, accounting for 33% of the total market.
Read More On The Report For The Global Automotive Equipment Leasing Market At:https://www.thebusinessresearchcompany.com/report/automotive-equipment-leasing-global-market-report-2020-30-covid-19-impact-and-recovery
Automotive Equipment Leasing Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides automotive equipment leasing market overviews, analyzes and forecasts market size and growth for the global automotive equipment leasing market, automotive equipment leasing market share, automotive equipment leasing market players, automotive equipment leasing market segments and geographies, automotive equipment leasing market’s leading competitors’ revenues, profiles and market shares. The automotive equipment leasing market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.