Pune, India, Sept. 29, 2022 (GLOBE NEWSWIRE) — The global Car leasing market will grow at a CAGR of 6.9%, reaching USD 131.10 billion during the forecast period 2022-2029. The market was valued at $75 billion in 2021. The market growth is attributed to factors such as on-demand vehicles, available with or without driver amenities, which are expected to benefit the vehicle leasing industry. The low maintenance price is one of the main aspects driving the growth of the car leasing market during the forecast period.
Industry Developments:
Coca-Cola Philippines (CCBPI) began a collaboration with ORIX Rental Corporation to provide fleet solutions. Orix distributed 300 novel automobiles for Coca Cola’s Salesforce as part of its new partnership agreement. With this delivery, CCBPI will have a fleet of 800 cars leased from Orix.
Hyundai Capital Services and Hyundai Capital Bank Europe announced their 92 percent stake in Sixt Leasing Company. The acquisition is expected to solidify Hyundai’s position in the automotive leasing segment of the European region.
AVIS Budget Group, one of the largest vehicle leasing companies, announced the launch of its AVIS Flexi 12 car subscription mobility service solution. According to the company, the solution allows the customer to select a car of their choice, which can be registered under the company’s private number plate.
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Report Highlights:
| report coverage | details |
| forecast period | 2022-2029 |
| Forecast period 2022 to 2029 CAGR | 6.9% |
| Value prognosis 2029 | $131.10 billion |
| base year | 2021 |
| Market size in 2022 | $82.01 billion |
| Historical data for | 2018-2019 |
| number of pages | 200 |
| segments covered | By application type, by lease type |
| growth accelerator | North America leads with increased demand for leased vehicles |
| Increasing Smart Cities programs and urbanization to the fuel market |
Market Highlights:
Increasing Smart Cities programs and urbanization to the fuel market
