The automotive equipment rental and leasing market includes companies involved in renting or leasing trucks and passenger cars without drivers and utility trailers. These establishments operate from a rent-like facility. Some automotive equipment rental and leasing companies offer short-term rental and long-term leases, while others provide both types of services.
The top five companies covered in the automotive rental market are Enterprise Holdings, The Hertz Corporation, Daimler, Avis Budget, and Volkswagen Leasing GmbH. Enterprise Holdings was the largest competitor in the automotive equipment rental and leasing. The report provides insights about car rental market share, car rental market size and car sharing market analysis.
The countries covered are China, India, Japan, UK, Germany, France, Italy, Spain, Russia, USA, Brazil and Australia.
Automotive Equipment Rental and Leasing Global Market Size
The automotive equipment rental and leasing global market was valued at $248.7 billion in 2017. North America was the largest region in the global automotive equipment rental and leasing market, accounting for more than 35% of the market. The USA was the largest country in the market, accounting for around 28% of the market.
Car Rental Industry Trend
The focus areas for many companies in the automotive equipment rental and leasing manufacturing market has shifted to increasing mergers and acquisitions in the past five years. Large prime contractors are forming joint ventures or buying small or midsized companies to acquire new capabilities, or gain access to new markets. For instance, in June 2017, Europcar announced its plan to acquire Goldcar, in a €550 million deal to expand the customer base and capabilities of the company. The acquisition is expected to build Europcar’s capabilities to provide broader transportation services, especially catering to customers who hire cars for holidays. In December 2016, Avis Budget Group acquired France Cars, to expand the company’s presence in the country. Details of the deal were not disclosed.
Automotive Equipment Rental and Leasing Global Market Segmentation
The Automotive Equipment Rental and Leasing Global Market is segmented into Passenger Car Rental; Passenger Car Leasing; Truck, Utility Trailer, And RV (Recreational Vehicle) Rental And Leasing.
Passenger Car Rental Industry passenger car rental companies are involved in renting passenger cars without drivers, generally for short periods of time.
Passenger Car Leasing Market companies are involved in leasing passenger cars without drivers, generally for long periods of time.
Truck Rental And Leasing Market & RV (Recreational Vehicle) Rental And Leasing Market companies are involved in renting or leasing trucks, truck tractors, buses, semi-trailers, utility trailers and recreational vehicles.