Global Automotive Equipment Leasing Market Accelerates: Projected to Reach $747.9 Billion by 2027

The Business Research Company's Automotive Equipment Leasing Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LANDON, GREATER LANDON, UK, December 7, 2023 /EINPresswire.com/ -- The global automotive equipment leasing market is experiencing robust growth, with a projected increase from $434.06 billion in 2022 to $486.28 billion in 2023, representing an impressive Compound Annual Growth Rate (CAGR) of 12.0%. Despite challenges posed by the Russia-Ukraine conflict and the lingering impacts of the COVID-19 pandemic, the market is anticipated to further expand, reaching an estimated size of $747.9 billion by 2027, with a CAGR of 11.4%.

Driving Forces: Technological Advancements and Economic Recovery

Technological advances, particularly in the realm of the internet of things (IoT) and big data, will be pivotal in driving the automotive equipment leasing market in the forecast period. Car leasing companies are increasingly leveraging digital technologies to enhance fleet management, reduce operational costs, and elevate customer service. Innovations in mobility technologies, such as in-car navigation and automation, are expected to fuel demand for leased vehicles, especially among millennials.

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Companies: Navigating Market Dynamics
Major companies shaping 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.
Navigating Challenges: COVID-19 Impact and Market Recovery

The outbreak of COVID-19 acted as a significant restraint on the automotive equipment leasing market in 2020, with a decline in the need for services due to global lockdowns. However, it is anticipated that the market will rebound across the forecast period, considering the pandemic as a 'black swan event' rather than a reflection of ongoing weaknesses in the market or the global economy.

Embracing Technology: Big Data for Improved Service
Automotive equipment leasing companies are integrating technologies like big data to enhance customer service and prolong vehicle life. Leveraging large datasets, big data enables leasing companies to gain valuable insights, prompting timely service reminders and proactive maintenance measures. Companies such as Lex Auto lease in automotive equipment leasing marketare utilizing big data to drive cost reduction and mitigate risks associated with their fleets.

Major Segments

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, Other Lease Types

Regional Insights: Western Europe Takes the Lead
Western Europe emerged as the largest region in the automotive equipment leasing market in 2022, showcasing its dominance. Asia-Pacific secured the second-largest market share, reflecting the global influence of the industry. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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Automotive Equipment Leasing Global Market Report 2023from TBRC covers the following information:

• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Automotive Equipment Leasing Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on automotive equipment leasing market size, automotive equipment leasing market drivers and automotive equipment leasing market trends, automotive equipment leasing market major players, competitors' revenues, market positioning, and market growth across geographies. The automotive equipment leasing market report helps you gain in-depth insights on automotive equipment leasing market opportunities and automotive equipment leasing market strategies. Companies can leverage the data in the automotive equipment leasing market report and tap into segments with the highest growth potential.

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