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Car Leasing Market Analysis

  • Report ID: GMI7428
  • Published Date: Nov 2023
  • Report Format: PDF

Car Leasing Market Analysis

Car Leasing Market Size, By Vehicle Type, 2021-2032 (USD Million)

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Based on vehicle type, the sedan segment accounted for 30% of the market share in 2022, as consumers seek diverse vehicle options. Sedans offer a balanced combination of comfort, fuel efficiency & affordability, making them attractive for leasing. With evolving consumer preferences and a desire for flexible mobility solutions, the sedan segment is expected to witness an increased demand in the market, contributing to its expansion.

 

Car Leasing Market Revenue Share, By End Use, 2022

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Based on end use, the personal segment held over 70% of the car leasing market share in 2022, due to the increasing adoption of leasing solutions by businesses. Leasing provides commercial entities with flexibility, cost management, and access to a modern fleet without the long-term commitment of ownership. As companies prioritize efficient fleet management and cost-effectiveness, the segment will witness expansion driven by the advantages leasing offers in meeting diverse business mobility needs

 

North America Car Leasing Market Size, 2021-2032 (USD Million)

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North America car leasing market size dominated around USD 19 million in 2022. The region has a mature automotive industry, high consumer awareness, and a strong inclination toward flexible mobility solutions. With a growing preference for leasing over traditional ownership, a well-established infrastructure & a technologically savvy consumer base, North America is expected to lead in market share. For instance, in June 2023, Ford launched a pilot program allowing Uber drivers in three California cities to lease Mustang Mach-E models. Additionally, the presence of key companies and the continuous evolution of leasing models contribute to the region's dominance.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of car leasing reached USD 615 million in 2022 and is poised to exhibit robust growth at over 6% CAGR from 2023 to 2032, attributed to the escalating environmental concerns and regulations globally.

The sedan segment accounted for around 30% of the market share in 2022, owing to the evolving consumer preferences for flexible mobility solutions.

North America market generated USD 19 million in revenue in 2022, due to the thriving automotive sector, high consumer awareness, and the strong inclination toward flexible mobility solutions in the region.

Some of the top car leasing companies are Enterprise Holdings, Inc., United Leasing, Inc., Element Fleet Management Corp., Wilmar Inc., Caldwell Leasing, Ewald Automotive Group, and ALD Automotive.

Car Leasing Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 255
  • Countries covered: 21
  • Pages: 250
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