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.
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. And the USA was the largest country accounting for $88.4 billion or 21.9% of the global automotive equipment rental and leasing market.
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.
Companies Covered: United Rental, Sunbelt Rental, Blueline Rental, H&E Equipment Services, Home Depot Rentals
Market Segments Included: Passenger Car Rental; Passenger Car Leasing; Truck, Utility Trailer, And RV (Recreational Vehicle) Rental And Leasing
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