Leasing Market Outlook and Forecast 2024-2033 | Key Players Volkswagen leasing GmbH, Enterprise Holdings Inc., Mc Donald's Corporation, Daimler, United Rentals Inc.

"The Business Research Company recently released a comprehensive report on the Global Leasing Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The leasing market size has grown rapidly in recent years. It will grow from $1685.5 billion in 2023 to $1856.11 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to strong emerging markets growth, demand from the aerospace and defense industry, rise in consumer awareness, growth in the used cars market, growth in residential construction activity and increased internet penetration.

The leasing market size is expected to see rapid growth in the next few years. It will grow to $2738.03 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to global population growth and urbanization, growing popularity of electric vehicles, emergence of start-ups, growing healthcare industry, increasing infrastructure spending and development of mega infrastructure projects . Major trends in the forecast period include offering products and services through online portals and mobile applications, investing in the untapped medical equipment segment, implement iot technology to efficient fleet management, invest in environmental friendly equipment and machinery, offer car subscription services millennial population, focus on offering electric vehicles in the portfolio, offering subscription services to cater to increasing demand for affordable fashion, invest in virtual or augmented reality to improve productivity, employ predictive analytics to enhance performance, efficiency, utilization rates and reduce downtime, invest in big data technology to enhance customer service and invest in fleet management software to increase operational efficiency.

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Market Drivers and Trends:

The emergence of startups as major clients of leasing service providers is expected to drive the market. Driven by cost efficiency and the necessity to acquire advanced equipment which is often high-priced, startups have started renting or leasing their equipment. The increasing number of startups is also expected to positively impact the market. For instance, according to Fortunly, a US-based news magazine, in 2022, there were 33.2 million startups in the US, which is a 700,000 rise compared to 2021. Therefore, the emergence of startups drives the leasing market.

Internet of things technology is widely being used by car rental and leasing companies to maintain and manage fleets. The Internet of things is a network of internet-connected objects or devices able to collect and exchange data using embedded sensors. According to ABI Research, a US-based technology company, approximately 94 million IoT-connected cars are shipped in 2021, which is likely to be 82% of all cars shipped. Using IoT technology, car leasing companies can access odometer and diagnostic trouble codes (DTCs) in real time which facilitates fleet maintenance. This technology is also being used by car rental companies to check fuel level information at the point of car return, eliminating the need for staff to check fuel levels manually. Further, virtual key solutions for locking and unlocking doors help avoid the management of a large number of physical keys. For example, car rental firm Hertz is implementing IoT technology to provide keyless car rental services and manage its fleet to reduce costs.

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Major Key Players of the Market:

Pfizer Inc., Novartis AG, Exelixis, Inc., F. Hoffmann-La Roche AG, Bristol Myers Squibb Company, Bayer AG, Merck & Co., Inc., EUSA Pharma Inc., UroGen Pharma Ltd., Natco Pharma, Arlak Biotech, Healthkind labs Pvt. Ltd., SwisscheM Healthcare Pvt.Ltd, Apikos Pharma, Kolaz biotech, CStone Pharma, CARsgen Therapeutics, JW Therapeutics, BeiGene, Takeda Pharmaceuticals, Astellas Pharma Inc, Otsuka Pharmaceutical Co., Ltd, Daiichi Pharmaceutical and Sankyo, AQVIDA GmbH, Baxter International Inc., AstraZeneca plc, GlaxoSmithKline plc, Veropharm, Biocad, Celon Pharma, Amgen Inc ., Biocon Ltd, Rani Therapeutics, Eli Lilly and Company, Abbott Laboratories, Emisphere Technologies, Inc., Enteris BioPharma, Allena Pharmaceuticals, Abbvie, Johnson & Johnson, Sanofi, Biogen Inc, AVEO Oncology, Eurofarma Laboratórios S.A., TUTEUR Argentina, Pierre Fabre Group, Celnova Pharma, Teva Pharmaceutical Industries Ltd., BIOPHARMA-MEA, NeoTX, AID Genomics Limited, Julphar, Novo Nordisk A/S, Kitov Pharma Limited, CureTech Ltd., Neopharma

Leasing Market 2024 Key Insights:

• The leasing market size is expected to see rapid growth in the next few years. It will grow to $2738.03 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%.
• Startups Fueling Growth In Leasing Market
• Iot's Role In Enhancing Car Rental And Leasing Services
• Asia-Pacific was the largest region in the leasing market in 2023

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