Car Fleet Leasing Market in US by End-user and Type - Forecast and Analysis 2021-2025

  • Published: Apr 2021
  • Pages: 120
  • SKU: IRTNTR44240
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The car fleet leasing market in US has the potential to grow by USD 149.17 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 1.27%.

This car fleet leasing market research in US report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (IT industry, food and beverage industry, pharmaceuticals industry, and others), and type (open-end lease and close-end lease). The car fleet leasing market in US report also offers information on several market vendors, including ALD SA, Arval Service Lease, Autoflex Leasing, Avis Budget Group Inc., Corporate Fleet Services Inc., Enterprise Holdings Inc., Hertz Global Holdings Inc., LeasePlan Corp. NV, Sixt SE, and Wheels Inc. among others.

What will the Car Fleet Leasing Market Size in the US be in 2021?

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Car Fleet Leasing Market in US: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growth of auto leasing market in the US is notably driving the car fleet leasing market growth in US , although factors such as market uncertainty may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the car fleet leasing industry in US get your FREE report sample now.

  • The vehicle price in the US is increasing year-over-year.
  • Many major car manufacturers have been increasing their selling price in recent years.
  • Although the millennial population is increasing, the US still has around 48% of the middle-class population who are not in the position to afford this price hike. This forces them to opt for a leasing of vehicles.
  • There is a USD 100 difference in new vehicle purchase and vehicle lease.
  • Experian, one of the automotive lending companies, found that the first quarter payment for an average new vehicle loan is around USD 488, whereas the first quarter lease payment for an average vehicle is around USD 405.
  • Experian also found the use of leased vehicles in the market is growing rapidly, as the number of new vehicles registered for lease has been increasing consistently.
  • The above factors shows that the car leasing market in the US will grow significantly in the future because of the middle-class population, who face financial difficulties in affording a car due to the car price hike.
  • The SME sector in the Americas is growing at a faster pace.
  • There are more than 650,000 franchised small businesses in the US, which account for 40% of all retail sales.
  • The SME sector is also in a position to take care of employee convenience services such as the big business sectors, to retain their employees.
  • The only problem that SMEs face is related to access to finance.
  • As they are an emerging sector, they need a significant capital to grow their core business.
  • In this phase, non-core capital investments, including employee-transportation vehicles, can take away the liquidity needed for their business.
  • SMEs opt for vehicle leasing. Over the past four years, a significant number of SMEs in the US market made use of vehicle leasing.
  • Opting for vehicle leasing allows SMEs to finance the full purchase price of the vehicle without any collateral.
  • Car fleet leasing reduces the overall fleet maintenance burden on SMEs.
  • SMEs opting for vehicle leasing owing to cost advantages will drive the car fleet leasing market growth in the coming years.

This car fleet leasing market analysis in US report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Car Fleet Leasing Market in US Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ALD SA
  • Arval Service Lease
  • Autoflex Leasing
  • Avis Budget Group Inc.
  • Corporate Fleet Services Inc.
  • Enterprise Holdings Inc.
  • Hertz Global Holdings Inc.
  • LeasePlan Corp. NV
  • Sixt SE
  • Wheels Inc.

 

The car fleet leasing market in US is fragmented and the vendors are deploying growth strategies such as technological advancement to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the car fleet leasing market forecast in US report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

What are the Revenue-generating End-user Segments in the Car Fleet Leasing Market in the US?

Car-Fleet-Leasing-Market-In-US-Market-Share-by-End-2019-2024

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The majority of IT companies prefer car fleet leasing to concentrate on their core business. In addition, the end-user company can reduce the tax burden by showing this lease rental in place of sales tax of vehicles. The renovation of the IT industry after the financial crisis will drive the growth of the car fleet leasing market share in the US by the IT industry segment, which will have a faster growth rate compared with other segments during the forecast period. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the car fleet leasing market size in the US.

 

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What are the Key Factors Covered in this Car Fleet Leasing Market in US Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive car fleet leasing market growth in US during the next five years
  • Precise estimation of the car fleet leasing market size in US and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the car fleet leasing industry in US 
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of car fleet leasing vendors in US 

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Car Fleet Leasing Market In US Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 1%

Market growth 2021-2025

$ 149.17 million

Market structure

Fragmented

YoY growth (%)

-0.59

Regional analysis

Africa and Africa

Performing market contribution

US at 100%

Key consumer countries

Afghanistan and Africa

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ALD SA, Arval Service Lease, Autoflex Leasing, Avis Budget Group Inc., Corporate Fleet Services Inc., Enterprise Holdings Inc., Hertz Global Holdings Inc., LeasePlan Corp. NV, Sixt SE, and Wheels Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The car fleet leasing market growth will increase by $149.17 million during 2019-2024.
The car fleet leasing market is expected to grow at a CAGR of 1.27% during 2019-2024.
Technavio has segmented the car fleet leasing market by end user (IT industry, Food and beverage industry, Pharmaceuticals industry, and Others) ,type (Open-end lease and Close-end lease) , and geographic (Africa and Africa).
ALD SA, Arval Service Lease, Autoflex Leasing, Avis Budget Group Inc., Corporate Fleet Services Inc., Enterprise Holdings Inc., Hertz Global Holdings Inc., LeasePlan Corp. NV, Sixt SE, Wheels Inc. are a few of the key vendors in the car fleet leasing market.
Africa will register the highest growth rate of NaN% among the other regions. Therefore, the car fleet leasing market in Africa is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the car fleet leasing market growth are:
  • Growth of auto leasing market in the US
The car fleet leasing market vendors should focus on grabbing business opportunities from the it industry segment as it accounted for the largest market share in the base year.
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