Automotive Fleet Leasing Market Was Valued at USD 28,761.7 Million in 2021, Growth in the Production and Automobile Manufacturing Across World

According to Precision Business Insights (PBI) latest report the global automotive fleet leasing market is accounted for USD 28,761.7 million in 2021, growing at 5.5% CAGR from 2022 to 2028. Global Automotive Fleet Leasing Market is segmented into the following types: By Lease Type (Open Ended and Close Ended), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) Forecast to 2028. Key player's profiles in the ARI (New Jersey), AutoFlex AFV (U.S.), Caldwell fleet leasing (U.S.), Glesby Marks (U.S.), Jim Pattison Lease (Canada), LeasePlan Corporation N.V. (Netherland), PRO Leasing Services (U.S.), Sixt Leasing SE (Germany), Velcor Leasing Corporation (U.S.) and Wheel Inc. (U.S.).

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Open-Ended Dominate the Automotive Fleet Leasing Market
Based on lease type, open-ended segment registered x% market share and it is expected to grow with a CAGR of x% from 2022 to 2028. The open-ended TRAC lease, also known as an operating lease, is preferred by most fleets who prefer leasing to finance or full cash purchases. Open-ended leases give fleet managers more flexibility in coping with unpredictable mileage and more say over remarketing decisions. Open-end leases have no mileage restrictions, making them appealing to businesses with erratic mileage. High-mileage vehicles depreciate more quickly, forcing the lessee to face the brunt of increased use on the used-car market. The lessee is also responsible for remarketing decisions, which include the risk and reward of resale value.

North America leads Automotive Fleet Leasing Market
United States automotive fleet leasing market accounted US$ x Million in 2021 and is expected to expand at a CAGR of x% over the forecast period. Advanced technologies such as electric vehicles and hybrid vehicles are expected to fuel the demand for automotive fleet leasing market.

China automotive fleet leasing market is expected to expand at a CAGR of x% over the forecast period. Passenger cars segment dominated the market revenue share in 2021 and projected to continue the dominance in the future.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players
The automotive fleet leasing market's key players are following the strategies such as launch of newer products, frequent product approvals, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

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The automotive fleet leasing market detailed segmentation:
Based on the Lease Type, the market is segmented into the following:
• Open Ended
• Close Ended

Based on the Vehicle Type, the market is segmented into the following:
• Passenger Cars
• Light Commercial Vehicles (LCV)
• Heavy Commercial Vehicles (HCV)

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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