The automotive equipment rental and leasing market comprises establishments that rent out or lease of passenger cars, trucks, utility vehicles, trailers, recreational vehicles. In this industry, the establishments generally run from a retail-like facility. Some offer only short-term rental, others only longer-term leases, and some provide both types of services.
Automotive Equipment Rental and Leasing Global Market Size
The global automotive equipment rental and leasing market was valued at $403.9 billion in 2017. Asia Pacific was the largest geographic region accounting for $155.9 billion or 38.6% of the global market. The USA was the largest country accounting for $88.4 billion or 21.9% of the global automotive equipment rental and leasing market.
Automotive Equipment Rental and Leasing Global Market Trend
Internet of things technology is widely being used by car rental and leasing companies in the maintenance and management of fleets. Internet of things is a network of internet connected objects or devices able to collect and exchange data using embedded sensors. 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 used to check fuel level information at the point of car return, eliminating the need for staff to check fuel levels manually.
The companies covered are United Rental, Sunbelt Rental, Blueline Rental, H&E Equiment Services, and Home Depot Rentals.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
Automotive Equipment Rental and Leasing Global Market Segmentation
The automotive equipment rental and leasing market is segmented into Passenger Car Rental; Passenger Car Leasing; Truck, Utility Trailer, And RV (Recreational Vehicle) Rental And Leasing.
Passenger Car Rental comprises establishments primarily engaged in renting passenger cars without drivers, generally for short periods of time.
Passenger Car Leasing comprises establishments primarily engaged in leasing passenger cars without drivers, generally for long periods of time.
Truck, Utility Trailer, And RV (Recreational Vehicle) Rental And Leasing comprises establishments primarily engaged in renting or leasing, without drivers, one or more of the following: trucks, truck tractors, buses, semitrailers, utility trailers, or RVs (recreational vehicles).