Global Light Commercial Vehicle Leasing Market to Grow at a CAGR of 8.1% During 2024-2032, Driven by the Rising Investments by Key Players

The global light commercial vehicle leasing industry is being driven by the cost-effectiveness and various other advantages of vehicle leasing. Leasing a vehicle helps fulfil the transportation needs of customers while saving time and cost. These services allow customers to rent a car at affordable prices whenever required. Leasing a van or a truck would save the depreciation cost because the vehicle is returned by the customer after its utilisation. The fixed monthly payable amount associated with leasing helps better manage the business cash flow.

Geographically, Europe and North America are significant regions leading the growth of the industry. Various companies are offering door to door vehicle leasing services to customers. Furthermore, the increasing investments by the key players to improve their product portfolio is augmenting the market growth. In May 2021, PacLease, a part of the financial services group of PACCAR Inc (NASDAQ: PCAR), announced a new fuel program partnership for its full-service lease and contract maintenance customers. It partnered with Multi Service Fuel Card, a subsidiary of TreviPay, for its Co-branded fuel card, called PacFuel. In another case, in March 2021, Hertz Global Holdings, Inc. (NASDAQ: HTZ) announced the completion of the sale of fleet management leader Donlen Corporation, its wholly owned subsidiary, to Athene Holding.

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Market Analysis by Vehicle Type, Lease Type, Tenure, and Region:

• The market on the basis of vehicle type can be divided into pick-up truck, and van, among others.

• Based on lease type, the industry can be divided into closed ended lease, option to buy lease, and sub-vented lease, among others.

• Based on tenure, the light commercial vehicle leasing industry is segmented into short term and long term.

• The regional markets for light commercial vehicle leasing include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The less maintenance cost with various tax benefits offered by leasing services is leading to the growth of the market.

• The increasing demand for light commercial vehicles, coupled with vehicle leasing benefits that help save cost and time, is a driving factor for the industry.

• Availability of a wide variety of options in light commercial vehicles is also aiding the market expansion.

• The increasing investments by key industry players to offer innovative services is driving the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global light commercial vehicle leasing market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the vehicle types, lease types, tenure, and regions of light commercial vehicle leasing.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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