Global Vehicle Leasing market will reach 124.88 billion US$ by the end of 2024

Publisher: QYResearch
Published Date: 2019/9/24

The vehicle leasing market was worth approximately $73.41 billion globally in 2018. Geographically, North America is the giant player who represents more than 40% of the global market, followed by Europe, representing approximately a quarter market shares.

APAC is the emerging market for vehicle leasing, APAC maintains double-digit growth rate of revenue during 2014-2018. The revenue of APAC is expected to reach 17.02 billion USD in the end of 2018. Among the APAC regions, China occupied the largest market, with the market share of 26% and still keep a high growth in the future.

The vehicle leasing industry is highly concentrated in the world, with the three five companies capturing a combined about 54 percent share of the global market. The largest company in the industry, Enterprise, is privately held, while the next two largest companies, Hertz Global Holdings, Inc. and Avis Budget Group, Inc., are publicly traded. Each of these three players has made acquisitions of other well-known rental car brands—Enterprise Rent-A-Car owns Alamo and National, and Hertz owns Dollar and Thrifty.

The vehicle leasing market is forecasted to worth approximately $124.88 billion globally in the end of 2024. The CAGR during 2019-2024 is expected to reach 9.45%. APAC and MEA & LA will catch up with the traditional mature market in the next few years.

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