Leasing Global Market To Reach Value Of About $1.8 Trillion In 2025
8 Apr, 2021
The leasing market consists of sales of leasing services by entities (organizations, sole traders and partnerships) that use a wide variety of tangible goods such as consumer goods, industrial machinery and equipment, automobiles and others and assign intangible assets such as trademarks to customers in return for a periodic rental or lease payment. The leasing market is segmented into automotive equipment leasing, consumer goods and general rental centers, machinery leasing and lessors of nonfinancial intangible assets.
Global Leasing Market Size And Drivers:
The global leasing market is expected to grow from $1.18 trillion in 2020 to $1.35 trillion in 2021 at a compound annual growth rate (CAGR) of 14.%. The market is expected to reach $1.83 trillion in 2025 at a CAGR of 8%. The emergence of startups as major clients of leasing service providers is expected to drive the market.
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Trends In The Global Leasing Market
Internet of Things technology is widely being used by car rental and leasing companies to maintain and manage fleets. Internet of things is a network of internet connected objects or devices able to collect and exchange data using embedded sensors. According to Business Insider, number of IoT connected cars on the road are expected to increase from 36 million in 2015 to around 381 million by 2020. Furthermore, approximately 94 million IoT connected cars are expected to be shipped in 2021, which is likely to be 82% of all cars shipped. Using IoT technology, car leasing companies are able to access odometer and diagnostic trouble codes (DTCs) in real time that facilitates fleet maintenance. This technology is also being used by car rental companies to check fuel level information at the point of car return, eliminating the need for staff to check fuel levels manually. Further, virtual key solutions for locking and unlocking of doors help avoid the need for management of a large number of physical keys.
Global Leasing Market Segments:
The global leasing market is further segmented based on type, mode and geography.
By Type: Automotive Equipment Leasing, Consumer Goods And General Rental Centers, Machinery Leasing, Lessors Of Nonfinancial Intangible Assets.
By Mode: Online, Offline.
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 global 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 leasing market, accounting for 36% of the total market.
Read More On The Report For The Global Leasing Market At:https://www.thebusinessresearchcompany.com/report/leasing-global-market-report-2020-30-covid-19-impact-and-recovery
Leasing Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides leasing market overviews, analyzes and forecasts market size and growth for the global leasing market, leasing market share, leasing market players, leasing market segments and geographies, leasing market’s leading competitors’ revenues, profiles and market shares. The leasing market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.