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Technological advances are expected to drive innovation in automotive equipment leasing manufacturing, thus driving the market during the forecast period.

The global automotive equipment leasing market is expected to grow from $434.06 billion in 2022 to $486.28 billion in 2023 at a compound annual growth rate (CAGR) of 12.0%. The automotive equipment leasing market is expected to grow to $747.9 billion in 2027 at a CAGR of 11.4%.

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Global Automotive Equipment Leasing Market Segments Include:

• By Type: Passenger Car Rental, Passenger Car Leasing, Truck, Utility Trailer, And RV (Recreational Vehicle) Rental And Leasing
• By Mode: Online, Offline
• By Lease Type: Closed Ended Lease, Option to Buy Lease, Sub-Vented Lease, Other Lease Types
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Western Europe is the largest region in the global automotive equipment leasing market in 2021.

Major Market Players in 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.

Automotive equipment leasing companies are using technologies such as big data to improve customer service and increase vehicle life. Big data involves large amounts of data that can be analyzed to gain insights and drive decision-making. Big data would allow the leasing company to remind the driver to book a car for the service or replace engine oil. This technology could also help leasing companies in minimizing driver risk and prevent the number of accidents, by giving the companies insights into the driving habits and whereabouts of their fleet. Companies such as Lex Auto lease have been increasingly using big data to drive cost reduction and risk mitigation.

The Automotive Equipment Leasing Global Market Report 2023  provides a automotive equipment leasing market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032).  The automotive equipment leasing market forecast analyzes automotive equipment leasing market size, automotive equipment leasing market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Automotive equipment leasing refers to obtaining automotive equipment by businesses for temporary use on a rental or lease basis against periodic contractual payments. Automotive equipment leasing help with the risk of obsolescence, easy source of finance, is preferable to a term loan, has tax benefits, and has low maintenance costs.

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