Europe - Vehicle Leasing Market by Type and Mode Of Booking - Forecast and Analysis 2024-2028
| Published: Dec 2023 | Pages: 148 | SKU: IRTNTR43746 |
Europe - Vehicle Leasing Market 2024-2028
The Europe - vehicle leasing market size is estimated to grow at a CAGR of 4.5% between 2023 and 2028. The market size is forecast to increase by USD 12.17 billion. The growth of the market depends on several factors, including the cost-effective ways of obtaining a vehicle, the growing demand for vehicle leasing from SMEs, and the rising technological obsolescence of older vehicles.
The report includes a comprehensive outlook on the Europe Vehicle Leasing Market, offering forecasts for the industry segmented by Type, which comprises passenger cars and commercial vehicles. Additionally, it categorizes Mode Of Booking into online and offline. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
What will be the size of the Europe Vehicle Leasing Market During the Forecast Period?
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Europe Vehicle Leasing Market: Key Drivers, Trends and Challenges
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Europe Vehicle Leasing Market Driver
The cost-effectiveness of leasing as a way of obtaining a vehicle is notably driving the growth of the Europe vehicle leasing market. A vehicle is an asset whose value depreciates over time. The most popular method of acquiring a vehicle is by paying for the vehicle or through financing options (i.e., owning it). Most vehicle dealership centers have dedicated personnel to assist buyers with purchasing vehicles through loans. Buying a vehicle permanently may not be cost-effective for small and medium-sized enterprises (SMEs), which can increase their fixed costs.
However, leasing a vehicle is a more viable solution than buying a vehicle. In leasing, the lessee only needs to pay a monthly fee, along with certain additional charges and taxes, during the period of use. Therefore, the attractive value proposition offered in leasing a vehicle rather than purchasing and owning it is a major driver that will drive growth in the market growth during the forecast period.
Key Europe Vehicle Leasing Market Trends
The car subscription model of car leasing is the primary trend shaping market growth. Car leasing companies are opting for vehicle subscriptions that allow users to lease a vehicle for a monthly subscription fee, which covers roadside assistance, vehicle maintenance costs, and insurance. The subscription packages allow users to change cars easily, based on their availability. Moreover, the subscription plan covers premium insurance for the vehicle irrespective of the location where it is being used. It includes extra wear and maintenance costs for a combined monthly fee.
Additionally, prominent Europe - vehicle leasing market players are partnering with automotive OEMs to offer new leasing models. For instance, in January 2020, ALD SA partnered with Volvo Cars to provide full-service leasing services to both private and corporate customers of Polestar (a Volvo Cars brand) through a fully digital online solution. Hence, the car subscription model of car leasing is a positive trend for the growth of the vehicle leasing market in Europe during the forecast period.
Key Europe Vehicle Leasing Market Challenge
The challenge posed by on-demand taxi operators may hinder market growth. Taxi services are broadly used in urban areas for personal transportation. On-demand taxis are a convenient option in terms of the time spent on finding a parking spot and the amount spent on travel. Moreover, traffic congestion in cities renders driving in cities a tedious and difficult task. Thus, the rise in the use of on-demand taxis for personal commutes is diluting the demand for car leasing.
In addition, on-demand taxis have fewer operator restrictions. On-demand taxi operators register drivers with cars under their brand, which allows the driver to pick up and drop off customers who choose the ride on the digital platform of the operator. The low capital expenditure involved in on-demand taxi services intensifies the challenge posed by on-demand taxi companies to car leasing companies, which can become a major challenge for the growth of the market during the forecast period.
Europe Vehicle Leasing Market Customer Landscape
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Europe Vehicle Leasing Market Customer Landscape
Who are the Major Europe Vehicle Leasing Market Companies?
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
- Bayerische Motoren Werke AG: The company offers vehicle leasing services under the brand name of Alphabet.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
- ALD SA
- Allane SE
- Arval Service Lease
- Central Contract S.O.T Ltd.
- Central UK Vehicle Leasing Ltd.
- Deutsche Leasing AG
- ExpatRide International Inc.
- Groupe BPCE
- King and Mayr GmbH and Co. KG
- LocautoRent S.p.A.
- Mercedes Benz Group AG
- Millennium Leasing sp zoo
- PKO Bank Polski
- Porsche Automobil Holding SE
- PSA Automobiles SA
- Rivervale Cars Ltd.
- Sofina SA
- Stellantis NV
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
What is the Largest-Growing Segments in the Europe Vehicle Leasing Market?
The passenger cars segment is estimated to witness significant growth during the forecast period. The cost-effective nature of leasing cars rather than buying cars is driving the popularity of leased cars in Europe. Car leasing also offers customers the option to buy the vehicle at the end of the lease period. Moreover, customers have the choice of moving to a new and advanced vehicle model after the expiration of the car lease period.
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The passenger cars segment was the largest segment and was valued at USD 35.15 billion in 2018. Factors such as the growing demand for SUVs, hatchbacks, and sedans in Europe are acting as major market enablers for the passenger cars segment. The growing demand for convenience and safety in passenger cars by customers is driving the adoption of many additional features in vehicles. Thus, such factors will drive growth in the growth of the passenger car segment in the Europe - vehicle leasing market during the forecast period.
Segment Overview
The Europe vehicle leasing market report forecasts market growth by revenue and analyzes the latest trends and growth opportunities from 2018 to 2028.
- Type Outlook
- Passenger cars
- Commercial vehicles
- Mode Of Booking Outlook
- Online
- Offline
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Europe Vehicle Leasing Market Scope |
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Report Coverage |
Details |
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Page number |
148 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
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Market Growth 2024-2028 |
USD 12.17 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
3.5 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ALD SA, Allane SE, Arval Service Lease, Bayerische Motoren Werke AG, Central Contract S.O.T Ltd., Central UK Vehicle Leasing Ltd., Deutsche Leasing AG, ExpatRide International Inc., Groupe BPCE, King and Mayr GmbH and Co. KG, LocautoRent S.p.A., Mercedes Benz Group AG, Millennium Leasing sp zoo, PKO Bank Polski, Porsche Automobil Holding SE, PSA Automobiles SA, Rivervale Cars Ltd., Sofina SA, and Stellantis NV |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Europe Vehicle Leasing Market Report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the market between 2024 and 2028
- Precise estimation of the market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the market across Europe
- A thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of market companies
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Mode of Booking
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2023
- 3.4 Market outlook: Forecast for 2023-2028
- Exhibit 14: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
- Exhibit 15: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
- Exhibit 16: Chart on Europe: Year-over-year growth 2023-2028 (%)
- Exhibit 17: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
4 Historic Market Size
- 4.1 Vehicle leasing market in Europe 2018 - 2022
- Exhibit 18: Historic Market Size – Data Table on vehicle leasing market in Europe 2018 - 2022 ($ billion)
- 4.2 Type Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size – Type Segment 2018 - 2022 ($ billion)
- 4.3 Mode of Booking Segment Analysis 2018 - 2022
- Exhibit 20: Historic Market Size – Mode of Booking Segment 2018 - 2022 ($ billion)
- 4.4 Geography Segment Analysis 2018 - 2022
- Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 22: Five forces analysis - Comparison between 2023 and 2028
- 5.2 Bargaining power of buyers
- Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
- 5.3 Bargaining power of suppliers
- Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
- 5.4 Threat of new entrants
- Exhibit 25: Threat of new entrants – Impact of key factors in 2023 and 2028
- 5.5 Threat of substitutes
- Exhibit 26: Threat of substitutes – Impact of key factors in 2023 and 2028
- 5.6 Threat of rivalry
- Exhibit 27: Threat of rivalry – Impact of key factors in 2023 and 2028
- 5.7 Market condition
- Exhibit 28: Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by Type
- 6.1 Market segments
- Exhibit 29: Chart on Type - Market share 2023-2028 (%)
- Exhibit 30: Data Table on Type - Market share 2023-2028 (%)
- 6.2 Comparison by Type
- Exhibit 31: Chart on Comparison by Type
- Exhibit 32: Data Table on Comparison by Type
- 6.3 Passenger cars - Market size and forecast 2023-2028
- Exhibit 33: Chart on Passenger cars - Market size and forecast 2023-2028 ($ billion)
- Exhibit 34: Data Table on Passenger cars - Market size and forecast 2023-2028 ($ billion)
- Exhibit 35: Chart on Passenger cars - Year-over-year growth 2023-2028 (%)
- Exhibit 36: Data Table on Passenger cars - Year-over-year growth 2023-2028 (%)
- 6.4 Commercial vehicles - Market size and forecast 2023-2028
- Exhibit 37: Chart on Commercial vehicles - Market size and forecast 2023-2028 ($ billion)
- Exhibit 38: Data Table on Commercial vehicles - Market size and forecast 2023-2028 ($ billion)
- Exhibit 39: Chart on Commercial vehicles - Year-over-year growth 2023-2028 (%)
- Exhibit 40: Data Table on Commercial vehicles - Year-over-year growth 2023-2028 (%)
- 6.5 Market opportunity by Type
- Exhibit 41: Market opportunity by Type ($ billion)
- Exhibit 42: Data Table on Market opportunity by Type ($ billion)
7 Market Segmentation by Mode of Booking
- 7.1 Market segments
- Exhibit 43: Chart on Mode of Booking - Market share 2023-2028 (%)
- Exhibit 44: Data Table on Mode of Booking - Market share 2023-2028 (%)
- 7.2 Comparison by Mode of Booking
- Exhibit 45: Chart on Comparison by Mode of Booking
- Exhibit 46: Data Table on Comparison by Mode of Booking
- 7.3 Online - Market size and forecast 2023-2028
- Exhibit 47: Chart on Online - Market size and forecast 2023-2028 ($ billion)
- Exhibit 48: Data Table on Online - Market size and forecast 2023-2028 ($ billion)
- Exhibit 49: Chart on Online - Year-over-year growth 2023-2028 (%)
- Exhibit 50: Data Table on Online - Year-over-year growth 2023-2028 (%)
- 7.4 Offline - Market size and forecast 2023-2028
- Exhibit 51: Chart on Offline - Market size and forecast 2023-2028 ($ billion)
- Exhibit 52: Data Table on Offline - Market size and forecast 2023-2028 ($ billion)
- Exhibit 53: Chart on Offline - Year-over-year growth 2023-2028 (%)
- Exhibit 54: Data Table on Offline - Year-over-year growth 2023-2028 (%)
- 7.5 Market opportunity by Mode of Booking
- Exhibit 55: Market opportunity by Mode of Booking ($ billion)
- Exhibit 56: Data Table on Market opportunity by Mode of Booking ($ billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 57: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 58: Chart on Market share by geography - 2023-2028 (%)
- Exhibit 59: Data Table on Market share by geography - 2023-2028 (%)
- 9.2 Geographic comparison
- Exhibit 60: Chart on Geographic comparison
- Exhibit 61: Data Table on Geographic comparison
- 9.3 UK - Market size and forecast 2023-2028
- Exhibit 62: Chart on UK - Market size and forecast 2023-2028 ($ billion)
- Exhibit 63: Data Table on UK - Market size and forecast 2023-2028 ($ billion)
- Exhibit 64: Chart on UK - Year-over-year growth 2023-2028 (%)
- Exhibit 65: Data Table on UK - Year-over-year growth 2023-2028 (%)
- 9.4 Germany - Market size and forecast 2023-2028
- Exhibit 66: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
- Exhibit 67: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
- Exhibit 68: Chart on Germany - Year-over-year growth 2023-2028 (%)
- Exhibit 69: Data Table on Germany - Year-over-year growth 2023-2028 (%)
- 9.5 France - Market size and forecast 2023-2028
- Exhibit 70: Chart on France - Market size and forecast 2023-2028 ($ billion)
- Exhibit 71: Data Table on France - Market size and forecast 2023-2028 ($ billion)
- Exhibit 72: Chart on France - Year-over-year growth 2023-2028 (%)
- Exhibit 73: Data Table on France - Year-over-year growth 2023-2028 (%)
- 9.6 Italy - Market size and forecast 2023-2028
- Exhibit 74: Chart on Italy - Market size and forecast 2023-2028 ($ billion)
- Exhibit 75: Data Table on Italy - Market size and forecast 2023-2028 ($ billion)
- Exhibit 76: Chart on Italy - Year-over-year growth 2023-2028 (%)
- Exhibit 77: Data Table on Italy - Year-over-year growth 2023-2028 (%)
- 9.7 Rest of Europe - Market size and forecast 2023-2028
- Exhibit 78: Chart on Rest of Europe - Market size and forecast 2023-2028 ($ billion)
- Exhibit 79: Data Table on Rest of Europe - Market size and forecast 2023-2028 ($ billion)
- Exhibit 80: Chart on Rest of Europe - Year-over-year growth 2023-2028 (%)
- Exhibit 81: Data Table on Rest of Europe - Year-over-year growth 2023-2028 (%)
- 9.8 Market opportunity by geography
- Exhibit 82: Market opportunity by geography ($ billion)
- Exhibit 83: Data Table on Market opportunity by geography ($ billion)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 84: Impact of drivers and challenges in 2023 and 2028
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 85: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 86: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 87: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 88: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 89: Matrix on vendor position and classification
- 12.3 ALD SA
- Exhibit 90: ALD SA - Overview
- Exhibit 91: ALD SA - Business segments
- Exhibit 92: ALD SA - Key news
- Exhibit 93: ALD SA - Key offerings
- Exhibit 94: ALD SA - Segment focus
- 12.4 Allane SE
- Exhibit 95: Allane SE - Overview
- Exhibit 96: Allane SE - Business segments
- Exhibit 97: Allane SE - Key offerings
- Exhibit 98: Allane SE - Segment focus
- 12.5 Arval Service Lease
- Exhibit 99: Arval Service Lease - Overview
- Exhibit 100: Arval Service Lease - Product / Service
- Exhibit 101: Arval Service Lease - Key offerings
- 12.6 Bayerische Motoren Werke AG
- Exhibit 102: Bayerische Motoren Werke AG - Overview
- Exhibit 103: Bayerische Motoren Werke AG - Business segments
- Exhibit 104: Bayerische Motoren Werke AG - Key news
- Exhibit 105: Bayerische Motoren Werke AG - Key offerings
- Exhibit 106: Bayerische Motoren Werke AG - Segment focus
- 12.7 Deutsche Leasing AG
- Exhibit 107: Deutsche Leasing AG - Overview
- Exhibit 108: Deutsche Leasing AG - Product / Service
- Exhibit 109: Deutsche Leasing AG - Key offerings
- 12.8 ExpatRide International Inc.
- Exhibit 110: ExpatRide International Inc. - Overview
- Exhibit 111: ExpatRide International Inc. - Product / Service
- Exhibit 112: ExpatRide International Inc. - Key offerings
- 12.9 Groupe BPCE
- Exhibit 113: Groupe BPCE - Overview
- Exhibit 114: Groupe BPCE - Product / Service
- Exhibit 115: Groupe BPCE - Key offerings
- 12.10 King and Mayr GmbH and Co. KG
- Exhibit 116: King and Mayr GmbH and Co. KG - Overview
- Exhibit 117: King and Mayr GmbH and Co. KG - Product / Service
- Exhibit 118: King and Mayr GmbH and Co. KG - Key offerings
- 12.11 Mercedes Benz Group AG
- Exhibit 119: Mercedes Benz Group AG - Overview
- Exhibit 120: Mercedes Benz Group AG - Business segments
- Exhibit 121: Mercedes Benz Group AG - Key offerings
- Exhibit 122: Mercedes Benz Group AG - Segment focus
- 12.12 Millennium Leasing sp zoo
- Exhibit 123: Millennium Leasing sp zoo - Overview
- Exhibit 124: Millennium Leasing sp zoo - Product / Service
- Exhibit 125: Millennium Leasing sp zoo - Key offerings
- 12.13 PKO Bank Polski
- Exhibit 126: PKO Bank Polski - Overview
- Exhibit 127: PKO Bank Polski - Product / Service
- Exhibit 128: PKO Bank Polski - Key offerings
- 12.14 Porsche Automobil Holding SE
- Exhibit 129: Porsche Automobil Holding SE - Overview
- Exhibit 130: Porsche Automobil Holding SE - Business segments
- Exhibit 131: Porsche Automobil Holding SE - Key offerings
- Exhibit 132: Porsche Automobil Holding SE - Segment focus
- 12.15 Rivervale Cars Ltd.
- Exhibit 133: Rivervale Cars Ltd. - Overview
- Exhibit 134: Rivervale Cars Ltd. - Product / Service
- Exhibit 135: Rivervale Cars Ltd. - Key offerings
- 12.16 Sofina SA
- Exhibit 136: Sofina SA - Overview
- Exhibit 137: Sofina SA - Product / Service
- Exhibit 138: Sofina SA - Key offerings
- 12.17 Stellantis NV
- Exhibit 139: Stellantis NV - Overview
- Exhibit 140: Stellantis NV - Business segments
- Exhibit 141: Stellantis NV - Key news
- Exhibit 142: Stellantis NV - Key offerings
- Exhibit 143: Stellantis NV - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 144: Inclusions checklist
- Exhibit 145: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 146: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 147: Research methodology
- Exhibit 148: Validation techniques employed for market sizing
- Exhibit 149: Information sources
- 13.5 List of abbreviations
- Exhibit 150: List of abbreviations
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.
INFORMATION 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
DATA 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
REPORT 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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vehicle leasing market in europe market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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