NEW
YORK, Jan. 16, 2025 /PRNewswire/ --
The vehicle leasing market in europe size is estimated
to grow by USD 10.1 billion from 2025
to 2029, according to Technavio. The market is estimated to grow at
a CAGR of 3.7% during the forecast period. The report provides
a comprehensive forecast of key segments below-
Segmentation Overview
- Type
- 1.1 Passenger cars
- 1.2 Commercial vehicles
- Mode Of Booking
- Geography
- Country
UK, Germany, France, Italy, and Rest of Europe
Get a glance at the market contribution of rest of the segments
- Download a FREE Sample Report in minutes!
1.1 Fastest growing segment:
The European vehicle leasing market is experiencing significant
growth due to the cost-effective nature of leasing cars compared to
buying them. Factors such as urbanization and increased Internet
penetration are driving awareness about car leasing. Leasing offers
customers the flexibility to upgrade to new models and purchase the
vehicle at lease end. Car manufacturers, like AB Volvo with Care by
Volvo, offer subscription-based leasing programs to boost revenue
and brand penetration. The demand for SUVs, hatchbacks, and sedans
in Europe is fueling growth in the
passenger car segment. Customers' preference for convenience,
safety, and modern technologies in vehicles is driving the adoption
of advanced features and electrification. These trends, coupled
with industry advancements, encourage customers to lease cars,
leading to market expansion in Europe's passenger car segment during the
forecast period.
Analyst Review
The European vehicle leasing market is experiencing significant
growth, driven by the shift towards electric and hybrid electric
vehicles. E-commerce platforms are increasingly becoming popular
channels for buyers to lease new cars, enabling a seamless and
convenient experience. Big data and blockchain technology are
transforming the industry by providing insights into customer
preferences and streamlining lease contracts. The tourism industry
and smart cities are major sectors adopting vehicle leasing for
their fleet needs. Automobile leasing companies offer a range of
options from commuter cars to buses, recreational vehicles, and
utility trailers. Car equipment rental is another growing segment,
allowing lessees to customize their vehicles. The residual value of
leased vehicles is a key consideration for both sellers and buyers,
making the role of a leasing company crucial in determining fair
market value. Rapid urbanization and the need for new vehicles
continue to fuel the demand for leasing solutions.
Market Overview
The European vehicle leasing market is experiencing significant
growth, driven by various factors including the rise of electric
vehicles, e-commerce, and smart cities. Electric cars and hybrid
electric vehicles are becoming increasingly popular due to
awareness among consumers about air pollution and emission norms.
The tourism industry and commuters are embracing on-demand mobility
solutions, leading to increased demand for lease cars. Big data,
IoT technology, machine learning, and blockchain are transforming
the industry by providing verified data in real-time, enabling
predictive maintenance and efficient transportation systems.
Leasing companies offer finance leasing, long-term leasing, and gap
insurance to cater to the diverse needs of buyers. The market also
includes utility trailers, buses, recreational vehicles, and car
equipment rental. Rapid urbanization, busy lifestyles, and
population demand have led to the adoption of efficient
transportation systems and the reduction of traffic congestion. The
used car industry is also benefiting from the growth of the leasing
market. Additional fees, carbon emissions, and climate change are
becoming important considerations for both sellers and buyers.
Leasing companies are focusing on customer service, providing
diagnostic services for vehicles, and leveraging technology to
enhance the leasing experience. The future of the vehicle leasing
market in Europe looks promising,
with continued innovation and the integration of technology to meet
the evolving needs of consumers.
To understand more about this market- Download a FREE
Sample Report in minutes!
Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
- Allane SE
- Arval Service Lease
- Bayerische Motoren Werke AG
- Central Contracts 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.
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/vehicle-leasing-market-in-europe-size-to-increase-by-usd-10-1-billion-between-2024-to-2029--market-segmentation-by-type-mode-of-booking-geography-technavio-302353124.html
SOURCE Technavio
