The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The emergence of startups as major clients of leasing service providers is expected to drive leasing manufacturing innovation, thereby driving the market during the forecast period.

The global leasing market is expected to grow from $1519.9 billion in 2022 to $1674.39 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The leasing market is expected to grow to $2424.62 billion in 2027 at a CAGR of 9.7%.

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Global Leasing Market Segments Include:

• By Type: Automotive Equipment Leasing, Consumer Goods And General Rental Centers, Machinery Leasing, Lessors Of Nonfinancial Intangible Assets
• By Mode: Online, Offline
• By Lease Type: Closed Ended Lease, Option to Buy Lease, Sub-Vented Lease, Other Lease Types
• Subsegments Covered: Passenger Car Rental, Passenger Car Leasing, Truck, Utility Trailer, And RV (Recreational Vehicle) Rental And Leasing, Consumer Goods Rental, General Rental Centers, Heavy Construction Machinery Rental, Commercial Air, Rail, and Water Transportation Equipment Rental, Mining, Oil And Gas, And Forestry Machinery And Equipment Rental, Office Machinery And Equipment Rental, Other Commercial And Industrial Machinery And Equipment Rental, Oil Royalty Companies, Patent Owners And Lessors
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global leasing market in 2021.

Major Market Players in the leasing market include Enterprise Holdings Inc., Berkshire Hathaway Inc., McDonald’s, Daimler AG, LeasePlan Corporation N.V., General Electric Company, United Rentals Inc.

Car rental and leasing companies frequently use Internet of Things technology to maintain and manage fleets. The Internet of Things is a network of internet-connected objects or devices that use embedded sensors to collect and exchange data. According to ABI Research, a technology firm based in the United States, 30 million new connected vehicles will be sold globally in 2020, accounting for approximately 41% of all new auto sales. Furthermore, approximately 94 million IoT-connected cars will be shipped in 2021, accounting for approximately 82% of all cars shipped. Car leasing companies can access odometer and diagnostic trouble codes (DTCs) in real time using IoT technology, which simplifies fleet maintenance. Car rental companies are also using this technology to check fuel level information at the point of car return, eliminating the need for staff to manually check fuel levels. Furthermore, virtual key solutions for locking and unlocking doors alleviate the need to manage a large number of physical keys. Hertz, for example, is implementing IoT technology to provide keyless car rental services and manage its fleet in order to reduce costs.

The Leasing Global Market Report 2023 provides a leasing market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The leasing market forecast analyzes leasing market size, 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.

Leasing is a financial arrangement in which a person, company, or other entity pays to use land, a vehicle, or other property for a set period of time. The cash outflow and payments associated with leasing are spread out over several years, reducing the burden of one-time large cash payments and assisting a business in maintaining a consistent cash-flow profile.

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