Automotive Fleet Leasing Market accounted for US$ 28,745.3 million in 2020 and is estimated to be US$ 59,112.8 million by 2030 and is anticipated to register a CAGR of 7.50%. Automobile fleet leasing refers to a group of vehicles leased or owned by vehicle leasing businesses and operated by organisations or government agencies such as public utilities, cabs, taxis, and rental automobiles. Assistance with vehicle maintenance and repairs, low cost of vehicle hire, quick access to fuel expenditure records, tracking of vehicle position and mileage, and improved operating fleet management are just a few of the significant benefits of these services. This aids in persuading individual customers and businesses to choose car fleet leasing as the most advantageous solution.
The report " Global Automotive Fleet Leasing Market, By Type (Open Ended, and Close Ended), By Application (Passenger Cars, LCV, and HCV), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2029’’
Key Highlights:
- In 2021, Leasys, an FCA Bank subsidiary, has introduced Leasys Pro, a new long-term leasing formula for firms and small and medium-sized businesses. Commercial cars can be rented pre-configured for specific uses and customised with optional extras.
Analyst View:
Large-goods manufacturers either own or lease their fleet. The cost of managing and maintaining a fleet includes the cost of fuel, drivers, and other workers, as well as the cost of a management system and parking space. As a result, businesses prefer to lease fleet vehicles to avoid these additional fees, which is much less expensive than owning a fleet. As a result, the worldwide vehicle fleet leasing business is booming. Furthermore, the worldwide motor vehicle fleet leasing market is being driven by the rapid expansion of the shared mobility, food and beverage, and industrial industries, as well as strict emission regulations. Changes in emission standards around the world force fleet owners to replace older cars with newer ones; as a result, many fleet owners, including governments and other private businesses, choose fleet leasing drives the market automotive fleet leasing.
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Key Market Insights from the report:
Global Automotive Fleet Leasing Market accounted for US$ 28,745.3 million in 2020 and is estimated to be US$ 59,112.8 million by 2030 and is anticipated to register a CAGR of 7.50%. The global automotive fleet leasing market report segments the market on the basis of type, application, and region.
- Based on Type, Global Automotive Fleet Leasing Market is segmented into Open Ended, and Close Ended.
- Based on Application, Global Automotive Fleet Leasing Market is segmented into Passenger Cars, LCV, and HCV.
- By Region, the Global Automotive Fleet Leasing Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Automotive Fleet Leasing Market:
The key players operating in the automotive fleet leasing market are Glesby Marks, LeasePlan Corporation, AutoFlex AFV, Velcor Leasing Corporation, Caldwell fleet leasing, Wheel#Inc., PRO Leasing Services, Jim Pattison Lease and Sixt Leasing SE.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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