Advanced Driver Assistance System Market Share, Size, Sales Report: 2020 Industry Insight
The automotive fleet leasing market is getting the advantages of high impact produced by the desire to upgrade lifestyle. It has been further backed by the fast track urbanization and increasing amount of disposable income in both developing and developed countries. The global automotive fleet leasing market can take a ride to a stellar valuation of USD 37410.9 million by 2023 with an impressive CAGR of 6.04% during the forecast period (2015-2023). The report published by the Market Research Future (MRFR) engages further benefits of automotive fleet leasing to provide a comprehensive overview of the market. As benefits, consumers are well aware of the low monthly lease fees, cash flow flexibility, flexible financial structures, and other benefits regarding maintenance which can act as potential market drivers.
On the other hand, the automotive fleet leasing market is facing a few setbacks as regulations regarding leasing are not that easy to comply with. At the same time, in cases of accidents, it is a bit difficult to replace original parts and bear the heavy cost which can deter the automotive fleet leasing market growth.
Segmentation:
The global automotive fleet leasing market can be segmented by lease type and region.
By lease type, the automotive fleet leasing market can be segmented into open-ended and close-ended. Open-ended segment, at present, is dominating the market as it enjoys significant traction from commercial business leasing.
Based on vehicle type, the automotive fleet leasing market includes passenger cars, light commercial vehicle (LCV) and heavy commercial vehicle (HCV). Passenger cars segment to accrue the maximum market share. With population boom and increasing amount of disposable income, this segment is clearly to gain more than its compatriots.
Regional Analysis:
Region-specific analysis of the automotive fleet leasing market includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America is currently generating the maximum revenue share. With technological advancements, the emergence of cloud technologies and smart devices, and integration of hybrid & electric vehicles, the region has created much scope for the automotive fleet leasing market expansion. It has further backups from the finance and leasing industries which are influencing consumer decisions significantly.
The APAC region is expected to showcase the fastest CAGR during the forecast period. China and India, two emerging nations, are the main contributors to the regional market. The automotive fleet leasing market is thriving based on the increasing competitions and improved distribution system. China is doing significantly good and at the helm of the regional market.
Competitive Analysis:
The key players of global automotive fleet leasing market include ARI (New Jersey), Glesby Marks (Texas), LeasePlan Corporation N.V. (Netherlands), AutoFlex AFV (U.S.), Velcor Leasing Corporation (U.S.), Caldwell Fleet Leasing (U.S.), Wheel, Inc. (U.S.), PRO Leasing Services (U.S.), Jim Pattison Lease (Canada), Sixt Leasing SE(Germany), and others. These companies mostly engage in merger, acquisition, collaboration, and other methods to stay abreast in the market. But these decisions impact the market as a whole as well and assist in its expansion.
Tramec Sloan, a company with its name cemented in heavy-duty truck and trailer markets, recently acquired Fleet Engineers Inc. The latter company is known for its service as designer and manufacturer of aerodynamics solutions, door systems, spray control and parts and accessories for the truck and trailer industry.
Ogilvie fleet launched their standalone division called Ogilvie Rental in 2017, to support the growing demand for the short-term rental plans.
On the other hand, the automotive fleet leasing market is facing a few setbacks as regulations regarding leasing are not that easy to comply with. At the same time, in cases of accidents, it is a bit difficult to replace original parts and bear the heavy cost which can deter the automotive fleet leasing market growth.
Segmentation:
The global automotive fleet leasing market can be segmented by lease type and region.
By lease type, the automotive fleet leasing market can be segmented into open-ended and close-ended. Open-ended segment, at present, is dominating the market as it enjoys significant traction from commercial business leasing.
Based on vehicle type, the automotive fleet leasing market includes passenger cars, light commercial vehicle (LCV) and heavy commercial vehicle (HCV). Passenger cars segment to accrue the maximum market share. With population boom and increasing amount of disposable income, this segment is clearly to gain more than its compatriots.
Regional Analysis:
Region-specific analysis of the automotive fleet leasing market includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America is currently generating the maximum revenue share. With technological advancements, the emergence of cloud technologies and smart devices, and integration of hybrid & electric vehicles, the region has created much scope for the automotive fleet leasing market expansion. It has further backups from the finance and leasing industries which are influencing consumer decisions significantly.
The APAC region is expected to showcase the fastest CAGR during the forecast period. China and India, two emerging nations, are the main contributors to the regional market. The automotive fleet leasing market is thriving based on the increasing competitions and improved distribution system. China is doing significantly good and at the helm of the regional market.
Competitive Analysis:
The key players of global automotive fleet leasing market include ARI (New Jersey), Glesby Marks (Texas), LeasePlan Corporation N.V. (Netherlands), AutoFlex AFV (U.S.), Velcor Leasing Corporation (U.S.), Caldwell Fleet Leasing (U.S.), Wheel, Inc. (U.S.), PRO Leasing Services (U.S.), Jim Pattison Lease (Canada), Sixt Leasing SE(Germany), and others. These companies mostly engage in merger, acquisition, collaboration, and other methods to stay abreast in the market. But these decisions impact the market as a whole as well and assist in its expansion.
Tramec Sloan, a company with its name cemented in heavy-duty truck and trailer markets, recently acquired Fleet Engineers Inc. The latter company is known for its service as designer and manufacturer of aerodynamics solutions, door systems, spray control and parts and accessories for the truck and trailer industry.
Ogilvie fleet launched their standalone division called Ogilvie Rental in 2017, to support the growing demand for the short-term rental plans.
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