Automotive Fleet Leasing Market To Capture Worth USD 37410.9 Million In Revenues By 2023 | Potential Growth, Share, Demand, COVID-19 Overview and Industry Analysis of Key Players- Research Forecasts by 2023
Research Reports
Dec 29, 2020
Automotive Fleet Leasing Market – Overview
The growing awareness about the advantages of fleet leasing is expected to encourage fleet leasing globally. Reports that appraise the automobile industry have been made accessible by Market Research Future which creates reports on several industry verticals that review the market growth and prospects. The market is anticipated to achieve USD 37410.9 million in earnings while growing at a CAGR of 6.04 % by the conclusion of the forecast period.
The elevated growth potential for leasing market is expected to grow in the upcoming period. The amplified demand from the corporate sector who are increasingly preferring operating leases is expected to further drive the progress of the market in the upcoming period. Moreover, increasing automobile production globally is anticipated to generate new opportunities for growth in the coming period.
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Segmental Analysis
The evaluation of the segments in the automotive fleet leasing market is carried out on the basis of lease type, vehicle type, and region. Based on lease Type, the automotive fleet leasing market is segmented into close-ended and open-ended. Based on the vehicle type, the automotive fleet leasing market is segmented into LCV, Passenger Cars, and HCV. Based on the regions, the automotive fleet leasing market is segmented into Europe, Asia Pacific, North America, Latin America, Middle East, and Africa.
Detailed Regional Analysis
The regional examination of the automotive fleet leasing market spans regions such as Europe, Asia Pacific, North America, Latin America, Middle East, and Africa. The North American region is likely to direct the automotive fleet leasing market in the coming years. In the North American region, technological progress, and the new mobility solutions such as electric vehicles and hybrid vehicles, are anticipated to support companies to come up with fresh personalized mobility services to gratify the varying wants and inclinations of consumers. The finance and leasing industry is also displaying considerable expansion through the forecast period. Also, the Asia Pacific region is projected to develop with the maximum CAGR through the forecast period. The expansion of the Asia Pacific region can be credited to the growing competition and surge in the trade which is leading to the enhanced distribution system across diverse budding nations such as India and China among others. The leasing industry in China has soared amazingly in recent years, particularly after being acknowledged as one of the most significant drivers for expansion.
Competitive Analysis
The expansion of the market is reliant on the cutbacks achieved in profile-raising and miscellaneous overhead. The client base in the market is diversifying rapidly to display a broad range of demands that have to be dealt with precision so as to create a loyal user base. An unequivocal lead in the market place is expected to be created due to amended strategies in specific areas. The creation of new competencies and resources in the market is expected to further fuel the development of the market. The restrictions in the market are dealt with effectively so that they don’t impact the growth of the market. The creation of favorable competitive advantage is expected to further expedite the development of the market in the forthcoming period. The experimentation in the basic strategies to help leadership to attain successful results in the market space is bolstering the growth in the market.
The central contenders in the automotive fleet leasing market are Glesby Marks (Texas), LeasePlan Corporation N.V. (Netherlands), AutoFlex AFV (U.S.), Velcor Leasing Corporation (U.S.), ARI (New Jersey), Caldwell fleet leasing (U.S.),Wheel, Inc. (U.S.), Jim Pattison Lease (Canada), PRO Leasing Services (U.S.) and Sixt Leasing SE(Germany) among others.
Industry Updates:
Apr 2019 Tokyo Century, a Japanese leasing business will purchase 20 percent stake in Yoma group’s auto leasing unit for US$26.6 million by means of new shares. Yoma Strategic Holdings, a Singapore-listed company recently announced the contract with the Tokyo-based firm. The fresh financing will permit Yoma Fleet, Yoma’s subsidiary, to enlarge its business. The entity was established in early 2014 as a contract hire and vehicle rental operator delivering operating lease and rental solutions mainly to multinational companies.
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Key Questions Addressed by the Report
What was the historic market size (2020)?
Which segmentation (Product/ Capacity) is driving market?
What will be the growth rate by 2023?
How are the key players in this market?
What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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