The leasing services market comprises establishments that provide the use of 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 top five companies covered are Enterprise Holdings Inc, Hertz Global Holdings Inc, LeasePlan Corporation N.V., Avis Budget Group Inc and United Rentals Inc. Enterprise Holdings Inc. was the largest company in the leasing services market in 2017.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
Leasing Services Market Size
The global leasing market was valued at around $1.7 trillion in 2017. Asia Pacific was the largest region in the leasing market in 2017, accounting for under 39% market share. The USA was the largest country in the market in 2017, accounting for 22% market share.
Leasing Services Market Trend
With the rise in mobile phone and internet penetration, online portals and mobile applications are widely being used to rent or lease goods. These mobile applications and online portals consist of an interface that enables users to view products and choose the desired one to be rented. The online leasing portals may offer various types of products or specialize in a single product. Major products being widely offered for lease through online portals include electronics, furniture, appliances, cameras, automobiles and others. According to PricewaterhouseCoopers, around 44% of US adults are familiar with the sharing economy which includes leasing and global revenues for this market is expected to increase from $15 billion in 2014 to $335 billion by 2025.
Leasing Services Market Segmentation
The leasing services market is segmented into Automotive Equipment Rental And Leasing, Consumer Goods And General Rental Centers, Machinery Rental and Lessors of Nonfinancial Intangible Assets.
Automotive Equipment Rental And Leasing market segment comprises establishments that rent out or lease of passenger cars, trucks, utility vehicles, trailers, recreational vehicles.
Consumer Goods And General Rental Centers market segment comprises establishments rent-out of consumer electronics, electrical appliances, home health equipment, recreational goods, formal clothes and costumes, and other goods.
Machinery Rental Market segment comprises establishments that rent out or lease machinery and equipment related to construction, mining, forestry, transportation, offices, other commercial and industrial machinery.
Lessors of Nonfinancial Intangible Assets assign rights to assets such as trademarks, patents, brand names, franchise agreements for which a royalty payment or licensing fee is paid to the asset holder.