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Automobile Rental And Leasing Market Size Analysis 2020 | By Major Key Players Enterprise Holdings, The Hertz Corporation, Daimler, Avis Budget, Volkswagen Leasing GmbH and LeasePlan
The automotive equipment rental and leasing industry includes companies involved in renting or leasing passenger cars and trucks without drivers and utility trailers. These establishments operate from a rent-like facility. Some automotive equipment rental and leasing companies offer short-term rental and long-term leases, while others provide both types of services. Growth in the historic period resulted from increase in demand for mobility, rise in consumer awareness and growth in the used car market. Going forward, emerging markets growth, growing popularity of electric vehicles, e-commerce and technological advances will drive growth.
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The Automobile Rental And Leasing market is segmented by type of product into passenger car rental, truck, utility trailer, and RV (Recreational Vehicle) rental and leasing and passenger car leasing. The passenger car rental market accounted for the largest share of the automotive equipment leasing market in 2018 at around 59%. The passenger car leasing market is expected to be the fastest-growing segment.
The focus areas for many companies in the automotive equipment rental and leasing manufacturing market has shifted to increasing mergers and acquisitions in the past five years. Large prime contractors are forming joint ventures or buying small or midsized companies to acquire new capabilities, or gain access to new markets. Big Data In Automotive Equipment Leasing - Automotive equipment leasing companies are using technologies such as big data to improve customer service and increase vehicle life.
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By Geography - The automotive equipment rental and leasing market is segmented into
1. North America
2. Western Europe
3. Asia Pacific
4. Eastern Europe
5. South America
6. Middle East
7. Africa
North America is the largest market for automobile rental and leasing market, accounting for about 37% of the global market. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, Asia-Pacific and Eastern Europe will be the fastest growing regions in this market. This is followed by, Middle East and Western Europe where the market.
Some of the major key players involved in the automotive equipment rental and leasing market are Enterprise Holdings, The Hertz Corporation, Daimler, Avis Budget, Volkswagen Leasing GmbH and LeasePlan.
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