Global Leasing Market

The personal services market consists of sales of personal services and related goods by entities (organizations, sole traders and partnerships) that provide personal and laundry services to individuals, households, and businesses. The main types of personal services are personal care services, death care services, dry-cleaning and laundry services, other personal services and private household services. Personal care services are hands-on services which help a person with essential daily chores that they are unable to do on their own. The different modes include online, offline and is distributed through various channels such as specialist retail stores, supermarkets/hypermarkets, convenience stores, pharmacies/drug stores, online retail channels, others. The global personal services market size is expected to grow from $1024.97 billion in 2021 to $1167.90 billion in 2022 at a compound annual growth rate (CAGR) of 13.9%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The personal services market is expected to reach $1721.52 billion in 2026 at a CAGR of 10.2%. The personal services market's growth is expected to be aided by stable economic growth forecast in many developed and developing countries. According to the International Monetary Fund (IMF), the global real GDP growth reached 3.7% in 2019 and 2020, and is expected to reach 3.6% from 2021 to 2023. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the personal services market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. For instance, India's GDP reached 7.3%, whereas China GDP growth reached 6.2% in 2019. Stable economic growth is expected to increase disposable incomes, driving the demand for personal services market. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the personal services market in 2020 as the need for services offered by these establishments declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lockdown and the outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the personal services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Personal care service companies such as beauty salons, spas are increasingly marketing their services through online platforms. These websites or applications allow customers to book appointments with beauticians who provide services such as haircut, styling, makeup, massage and others at the customer's premise. For instance, Lisa, an online platform offers haircuts, massage, manicures and others at home upon making prior booking. Other such online personal care service platforms include Glamsquad, Urban Company, Luxit and Glamazon. Major companies in the personal services market include Service Corporation International, Elis SA, Fantastic Sams, Weight Watchers International Inc, Spotless Group Holdings Ltd, Tivity Health, Dignity plc, Regis Corporation, ProSiebenSat.1 Media SE and CSC Serviceworks Holdings Inc. Asia Pacific was the largest region in the personal services market in 2021. North America was the second-largest region in personal services market. The regions covered in the personal services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the personal service market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global personal services market is segmented - 1) By Type: Personal Care Services, Death Care Services, Dry-Cleaning and Laundry Services, Other Personal Services, Private Household Services 2) By Mode: Online, Offline 3) By Distribution Channel: Specialist Retail Stores, Supermarkets/Hypermarkets, Convenience Stores, Pharmacies/Drug Stores, Online Retail Channels, Other Distribution Channels Subsegments Covered: Beauty Salons, Diet and Weight Reducing Centers, Spas and Massage Parlors, Other Personal Care Services, Funeral Homes and Funeral Services, Cemeteries and Crematories, Coin-Operated Laundries and Drycleaners, Dry-Cleaning and Laundry Services (except Coin-Operated), Linen and Uniform Supply, Pet Care (except Veterinary) Services, Photofinishing, Parking Lots and Garages, All Other Personal Services, In-house Workers, Outside Workers

The services market consists of the sales of services and related goods by entities (organizations, sole traders and partnerships) that provide services. A service can be defined as a transaction between a buyer and a seller without the transfer of any physical goods or commodities. It mainly involves the use of resources, experience, skill, ingenuity, and intelligence. Examples include equipment and machinery repairing, promoting or administering religious activities, grantmaking, advocacy, and providing drycleaning and laundry services, personal care services, death care services, pet care services, photofinishing services, temporary parking services, and dating services. The main types of services include civic services, real estate, leasing, commercial services, personal services, and repair and maintenance. Civic service for example is defined as a structured period of significant engagement and commitment to the local, national, or international community that is acknowledged and recognized by society, with little or no monetary recompense to the individual. The different modes include online and offline. The global services market size is expected to grow from $12586.88 billion in 2021 to $14057.24 billion in 2022 at a compound annual growth rate (CAGR) of 11.7%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The service market is expected to reach $20860.39 billion in 2026 at a CAGR of 10.4%. Rapid advances in technology is expected to drive innovation in different sectors of services industry, thus driving the services market during the forecast period. Areas of rapid technological change included electronic equipment, automobiles and electronics; this in turn will lead to an increase in services for that equipment. Furthermore, technologies such as 3D printing, artificial intelligence and big data analytics are increasingly being used, resulting in higher productivity, lower operating costs and higher margins. Lower operating costs lead to higher margins, this allows companies to increase product portfolio and to enter new markets by making investments made through cost savings. IoT applications are also being integrated into services to enable services such as remote monitoring, central feedback systems and to offer other services. These factors are expected to drive the services market going forward. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the services market in 2020 as the need for services offered by these establishments declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lockdown and the outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. With companies focusing on core business operations, automated billing systems are widely being used to minimize billing errors and reduce costs. Automated systems generate and send electronic copies of the invoices directly to customers. Automated billing systems can result in savings of 60-80% compared to traditional paper-based billing systems. Automated billing systems also enable tracking of unpaid bills, automate payment reminders and recurring invoices, manage discounts and coupons, and creation of customized invoices. These systems also generate real time reports on sales, orders, budgets that help track business performance. Some of the popular automated billing systems include Zoho Invoice, QuickBooks, Invoice2go and Intacct. Major companies in the services market include BCD Travel, Enterprise Holdings Inc, Randstad Holding NV, Adecco Group, Travel Leaders Group, TUI Group, Recruit Holdings, ManpowerGroup Inc., Berkshire Hathaway Inc. and Waste Management Inc. Asia Pacific was the largest region in the services market in 2021. North America was the second-largest region in the services market. The regions covered in the services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global services market is segmented - 1) By Type: Civic Services, Real Estate, Leasing, Commercial Services, Personal Services, Repair and Maintenance 2) By Mode: Online, Offline Subsegments Covered: Religious Organizations, NGOs and Charitable Organizations, Political Organizations, Unions and Associations, Real Estate Rental, Real Estate Agency and Brokerage, Automotive Equipment Leasing, Consumer Goods and General Rental Centers, Machinery Leasing, Lessors of Nonfinancial Intangible Assets, Office Administrative Services, Facilities Support Services, Employment Services, Business Support Services, Travel Arrangement and Reservation Services, Waste Management and Remediation Services, Investigation and Security Services, Services to Buildings and Dwellings, Other Support Services, Personal Care Services, Death Care Services, Dry-Cleaning and Laundry Services, Other Personal Services, Private Household Services, Automotive Repair and Maintenance, Commercial and Industrial Machinery and Equipment Repair and Maintenance, Electronic and Precision Equipment Repair and Maintenance, Personal Goods Repair and Maintenance

The machinery rental market consists of sales of machinery rental services by entities (organizations, sole traders and partnerships) that rent out or lease commercial-type and industrial-type machinery and equipment. Establishments in this generally provide capital or investment-type equipment that clients use in their business operations. These establishments typically cater to a business clientele and do not generally operate a retail-like or storefront facility. The main types of machinery leasing are 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. Heavy equipment rental refers to a location where huge pieces of machinery or large vehicles, typically related with construction, can be stored and retrieved for public use, and may also feature extra and related retail activities. he different modes include online, offline and involves various lease types such as closed ended lease, option to buy lease, sub-vented lease, others. The global machinery leasing market size is expected to grow from $334.64 billion in 2021 to $373.41 billion in 2022 at a compound annual growth rate (CAGR) of 11.6%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The machinery rental market is expected to reach $554.43 billion in 2026 at a CAGR of 10.4%. The emergence of start-ups as major clients of leasing service providers is expected to drive the machinery rental market. Driven by cost efficiency and the necessity to acquire advanced equipment which are often highly priced, start-ups have started renting or leasing their equipment. The increasing number of start-ups is also expected to positively impact the machinery rental market. For instance, according to the Department for Promotion of Industry and Internal Trade, the number of start-ups in India reached 16,000 in 2020, depicting new opportunities for the leasing market in the client expansion and revenue generation. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the machinery leasing market in 2020 as the need for services offered by these establishments declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lockdown and the outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the machinery leasing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the machinery rental market or the global economy. Companies are increasingly leasing 3D printing equipment for manufacturing purposes. The 3D printer is a computer-aided manufacturing device which creates three-dimensional objects by receiving digital data from a computer as input by building a three-dimensional model out of custom material. 3D printing is gaining popularity as manufacturers are becoming more familiar with industrial-grade 3D printers. Industrial grade 3D printers are capable of printing large products with high precision and with a wide range of materials. 3D printer leasing can reduce the overall reduction of cost of the manufacturer rather than buying. For instance, Divide by Zero technologies offers 3D printers on a lease for customers in India. Major companies in the machinery leasing market are General Electric Company, United Rentals Inc, Tokyo Century, Berkshire Hathaway Inc., Ashtead Group plc, AerCap Holdings N.V., Fuyo General Lease Co., Ltd., NetJets, Nissan Motor Co Ltd and Air Lease Corporation. Asia Pacific was the largest region in the machinery leasing market in 2021. North America was the second-largest region in the machinery leasing market. The regions covered in the machinery rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the machinery leasing market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global machinery leasing market is segmented - 1) By Type: 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 2) By Mode: Online, Offline 3) By Lease Type: Closed Ended Lease, Option to Buy Lease, Sub-Vented Lease, Others

The automotive equipment leasing market consists of sales of automotive equipment renting or leasing services by entities (organizations, sole traders and partnerships) that provide passenger cars and truck/vans, utility trailer, and recreational vehicle (RV) without drivers and utility trailers. These establishments generally operate a retail store like facility for automotive equipment renting and leasing. Some automotive equipment rental and leasing companies offer short-term rental or long-term leases, while others provide both types of services. The main types of automotive equipment leasing are passenger car rental, passenger car leasing, truck, utility trailer, and RV (recreational vehicle) rental and leasing. The passenger automobile rental sector consists of businesses that rent or lease passenger cars without drivers. The different modes include online, offline and involves various lease types such as closed ended lease, option to buy lease, sub-vented lease, others. The global automotive equipment leasing market size is expected to grow from $381.11 billion in 2021 to $435.28 billion in 2022 at a compound annual growth rate (CAGR) of 14.2%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The automotive equipment leasing market is expected to reach $717.38 billion in 2026 at a CAGR of 13.3%. Technological advances will be a key driver of the automotive equipment rental and leasing market in the forecast period. Digital technologies such as the internet of things (IoT) and big data are increasingly being used by car leasing companies to better manage their fleet, reduce operational costs and improve customer service. Innovations in mobility technologies such as in-car navigation and automation will also drive the demand for leased vehicles, especially among millennials. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the automotive equipment leasing market in 2020 as the need for services offered by these establishments declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lockdown and the outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the automotive equipment leasing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the automotive equipment leasing market or the global economy. Automotive equipment leasing companies are using technologies such as big data to improve customer service and increase vehicle life. Big data involves large amounts of data that can be analysed to gain insights and drive decision making. Big data would allow the leasing company to remind the driver to book a car for the service or replace engine oil. This technology could also help leasing companies in minimizing driver risk and prevent the number of accidents, by giving the companies insights about the driving habits and whereabouts of its fleet. Companies such as Lex Auto lease have been increasingly using big data to drive cost reduction and risk mitigation. Major companies in the automotive equipment leasing market include Enterprise Holdings Inc, Daimler AG, LeasePlan Corporation N.V., Ford Motor Co, Berkshire Hathaway Inc., Avis Budget Group Inc., Hertz Global Holdings Inc., ALD Automotive, Penske Truck Leasing and Ryder System Inc. Western Europe was the largest region in the automotive equipment leasing market in 2021. Asia Pacific was the second largest region in the automotive equipment leasing market. The regions covered in the automotive equipment leasing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automotive equipment leasing market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global automotive equipment leasing market is segmented - 1) By Type: Passenger Car Rental, Passenger Car Leasing, Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing 2) By Mode: Online, Offline 3) By Lease Type: Closed Ended Lease, Option to Buy Lease, Sub-Vented Lease, Others

The coworking spaces market consists of coworking space rental revenues earned by entities (organizations, sole traders and partnerships) that provide coworking workspaces on rent or lease. Unlike traditional office rental, the cost of renting coworking workspaces usually covers the use of related services/equipment such as office chairs and desks Internet/Wi-Fi connection, hardware, software, and others. The industry includes businesses that offer non-residential structures with amenities and facilities on a flexible rental basis. The main types business in coworking spaces are open/ conventional coworking spaces, corporate/ professional coworking spaces and others. The corporate/professional coworking space caters to tenants who are more corporate or professional. It will be more cost-effective than a high-end location, with a peaceful, personal, and professional ambience, softer lighting, and less energy consumption than other types of rooms. The different users include enterprises, freelancer, others and is used by various sectors such as finance, legal services, marketing, technology, real estate, consulting services, others. The global coworking space market size is expected to grow from $13.60 billion in 2021 to $16.17 billion in 2022 at a compound annual growth rate (CAGR) of 18.9%. The growth in the coworking space market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The coworking spaces market is expected to reach $30.36 billion in 2026 at a CAGR of 17.0%. The coworking spaces market is majorly determined by the increase in the number of start-ups globally. According to thegeniuswork.com publication in October 2019, the global start-up economy was worth $ 3 trillion in 2019. The growth is backed by the expansion of internet space, exposure to the knowledge of entrepreneurship outside the boundaries of the country, and improved literacy rates. Besides, advanced manufacturing and robotics, agriculture technology and new food, blockchain, and artificial intelligence, big data, and analytics were the fastest growing start-up sub-sectors globally. Therefore, the rise in the number of startups across various industries globally increased the demand for coworking spaces, driving the market during the forecast period. The increase in the number of people working from home or remotely owing to the COVID-19 lockdown limits the growth of the market. For instance, in March 2020, many companies working from home owing to COVID-19 pandemic, operators of coworking spaces have seen an almost 50% decline in footfalls. Furthermore, according to Business 2 Community publication in April 2020, the number of people working remotely has grown by 44% in the last five years, with 7 million people (3.4% of the population) were working remotely in the USA before the arrival of COVID-19. Nevertheless, the number of people working remotely is tremendously increased owing to the coronavirus outbreak over the last few months. Consequently, declining the revenues generated by the coworking spaces market during 2020. The development of sustainable coworking spaces is a major trend shaping the coworking spaces market. Coworking spaces are implementing eco-friendly measures in the workplace to attract entrepreneurs concerned with environmental issues such as global warming. Sustainable practices adopted by the coworking space providers offer substantial benefits and are economically feasible. For instance, CoCoon in Hong Kong has a floor made of natural bamboo and uses non-toxic paints and LED lights. In addition to this, drought-resistant plants are part of the interior and exterior. Another such example is Green Spaces in Denver uses about 160 solar panels on the roofs of its offices. These allow significant cost savings at Green Spaces. Thus, sustainable coworking space is a key trend in the coworking spaces market. In January 2019, a Los Angeles based workspace provider Cross Campus, announced the acquisition of San Diego’s coworking space provider DeskHub, for an undisclosed amount. This acquisition helps the company to increase its footprints in San Diego and Scottsdale, AZ, providing an opportunity to broaden its services in the region. DeskHub is committed to creating a premier network for coworking workspaces across the USA. Major players in the coworking spaces market are Wework, Regus Corporation (IWG Plc), Mix Pace, Knotel Inc., SimplyWork, District Cowork, Premier Workspaces, Krspace, Convene, Servcorp Limited, Novel Coworking, TechSpace Inc., SOMAcentral, HackerLab, Industrious, UCOMMUNE, Your Alley, Impact Hub, Serendipity Labs, Make Office, Green Desk, Venture X, Office Evolution, CommonGrounds Workplace and Intelligent Office and Studio. Asia Pacific was the largest region in the coworking space market in 2021. North America was the second largest region in the coworking space market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the coworking space market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global coworking space market is segmented - 1) By Business Type: Open/ Conventional Coworking Spaces, Corporate/ Professional Coworking Spaces, Others 2) By End Use: Finance, Legal Services, Marketing, Technology, Real Estate, Consulting Services, Others 3) By User: Enterprises, Freelancers, Others