LONDON--(BUSINESS WIRE)--The global car leasing market size is poised to grow by 14.63 million units during 2019-2023, according to a new report by Technavio, progressing at a CAGR of close to 14% during the forecast period. Request Free Sample Pages
Read the 113-page research report with TOC on "Car Leasing Market Analysis Report by end-users (commercial customers and non-commercial customers) and geography (APAC, Europe, MEA, North America, and South America) 2019 - 2023".
The market is driven by the emergence of car leasing as an effective means of personal transportation for businesses. Also, the use of telematics in leased cars is anticipated to boost the growth of the car leasing market.
The emergence of car leasing as an effective means of personal transportation for businesses is one of the significant factors that will trigger the growth of the market in the upcoming years. Car leasing is increasingly being used by SMEs to meet the personal transportation requirements of employees. Car leasing does not require a substantial down payment, and cars are leased out for a fixed and short-period, and hence, it is an economical choice. This gives businesses the opportunity to upgrade their fleet regularly. Car leasing allows SMEs to avail transportation services in a convenient and hassle-free manner.
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Major Five Car Leasing Companies:
ALD Automotive offers various fleet management services to commercial and non-commercial customers. The company generates revenue by leasing vehicles to customers, as well as selling the used off-lease cars.
Arval (BNP Paribas)
Arval (BNP Paribas) offers various digital technologies for tracking vehicle health and certain financial indicators, such as invoices and fines, to fleet operators. The company provides vehicles on lease to customers and sells off-lease cars as used cars. In February 2019, the company launched a driver powertrain compatibility tool for helping customers decide on the type of vehicle powertrain.
ExpatRide International operates under various segments, which include lease cars, rental cars, chauffeur service, and airport transfer. The company offers vehicles on long-term lease to commercial and non-commercial customers.
LeasePlan Corporation N.V.
LeasePlan Corporation N.V. generates revenues from vehicle and equipment leasing business and the sale of used vehicles. The company’s offerings include vehicles on lease and various fleet management solutions for commercial and non-commercial users.
Sixt SE is engaged in vehicle rental business that includes Sixt Rent a Truck, Sixt Ferienmietwagen (Sixt holiday cars), Sixt Limousine Service, Sixt Sports, and Luxury Cars, myDriver, DriveNow, and others. The company is also involved in the leasing business, which includes fleet leasing, online retail, and fleet management operations.
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Car Leasing End-user Outlook (Revenue, USD Million, 2019 - 2023)
- Commercial customers
- Non-commercial customers
Car leasing Regional Outlook (Revenue, USD Million, 2019 - 2023)
- North America
- South America
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