Automotive Fleet Leasing Market to Post 6.04% CAGR to 2023, Projects MRFR in Its Topical Report Available at MarketPublishers.com17 Jan 2018 • by Natalie Aster
LONDON – Globally, the automotive fleet leasing sector is anticipated to gather steam at a 6.04% CAGR, reaching close to USD 37.411 million by 2023.
The market is stimulated by factors like the high growth potential for leasing market due to an upsurge in the demand for leased cars, customers’ rising awareness of the benefits of fleet leasing, and a shift from vehicle purchases to vehicle leasing amid people. Nevertheless, factors like pay for the original equipment during collision along with restrictions laid out in car leasing agreements can limit the growth of the market.
North America grabbed the lion’s share of 33.17% of the market in 2016 and is set to grow at a 5.16% CAGR through to 2023.
The USA is poised to dominate the North American market. The country is deemed to be the main propeller of the automotive industry growth, and the demand for passenger cars, LCVs and HCVs has grown considerably owing to the hike in the number of migrants. Additionally, rental car firms represent the biggest customer segment in the country’s fleet and lease marketplace. By lease type, the open-ended segment captured the biggest market share as they are primarily used in commercial business. Pertaining to types of vehicles, passenger cars grabs the majority share (79.44%) of the market as of 2016.
Topical research report “Global Automotive Fleet Leasing Market – Trends & Forecast, 2017-2023” created by MRFR provides an all-encompassing, true analysis of the market, segmenting it based on lease type, type of vehicle, type of passenger cars, and region-wise.
The study sheds light on the dynamics of automotive fleet leasing market identifying and exploring drivers, hindrances, opportunities and challenges. It offers Porter’s five forces analysis and includes a comprehensive value chain assessment. The report provides historic and projected revenue figures for each of the market segments and regional markets. Furthermore, it includes profiles of the leading players in the market, comprehensively investigating their core competencies, M&As, strategic alliances, new product developments. It also canvasses the overall competitive scenario for the market.
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