Car Leasing Market to Register CAGR worth 6.9% during 2022-2029; Arval and Ridecell Collaborate for Creating Opportunities in Industry

The global car leasing market size was USD 75 billion in 2021. The market is projected to grow from USD 82.01 billion in 2022 to USD 131.10 billion in 2029 at a CAGR of 6.9% during the 2022-2029 period.

This information is provided by Fortune Business Insights™, in its report, titled, “Car Leasing Market Size, Share & COVID-19 Impact Analysis, By Application Type (Business Use and Personal Use), By Lease Type (Open-End, and Close-End) and Regional Forecast, 2022-2029.”

In the past few years, there has been remarkable utilization of leased vehicles in emerging and established countries. It presents the user with numerous benefits such as novel automobiles after every few years.

COVID-19 Impact: Limitation on Transport and Public Mobility to Hamper Market Growth

The COVID-19 pandemic has managed to affect this market across the world. As the vehicle industry started to experience the influence of the coronavirus on their products and facilities in late March, due to a global lockdown and mobility constraints throughout the world. Additionally, in emerging nations such as India and South Korea, it was observed that over 90% of the populace commenced work from home (WFH). Severe social distancing norms deployed by governments have wholly modified the market dynamics for rental companies.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/car-leasing-market-105417

ALD Automotive Unveils ALD Flex: a Flexible Mobility Solution

ALD Automotive announced the unveiling of ALD Flex, which is a flexible mobility solution with the benefits of completely repaired vehicles and on-demand accessibility, to aid corporate fleet managers to fulfil their medium-term mobility requirements. ALD Flex is made available in roughly 19 nations across the globe as it entices the experience of the company in that area, gathered over the last 5 years. Flexible mobility solutions are a treasured selection for fleet managers while experiencing administration of shorter-period mobility needs such as provisional projects, probation duration for the new workforce, or seasonal peaks. They are also an efficient method to present novel kinds of mobility such as electric automobiles.

Growing Sale of Electric and Hybrid Electric Automobiles to Spur Growth

Traditional automotive is responsible for one of the prime portions of air pollution across the world. The rising fuel prices and great maintenance costs are among the few prime aspects that have managed to convince consumers to lease a car, which is environmentally safe. Moreover, the surging consciousness concerning the increasing levels of air pollution and strict emission guidelines has driven the requirement for battery and hybrid EV rental in the past few years.

Crucial Business-concerning Declarations by Prime Players to Sway Market Aspects

Pivotal companies in the market often make vital declarations concerning a few business-related decisions, which in turn impact the market either positively or harmfully. Companies purchase other corporations, unveil novel products, involve in partnership contracts, sign agreements with government establishments, and so on.

Industry Development

• January 2022: Arval and Ridecell got involved in a tactical coalition to create next-generation shared mobility solutions, which offer customers Integrated and International Mobility Connectivity.

List of Key Players Covered in the Report

• Avis Budget Group (New Jersey, U.S.)
• Orix (Tokyo, Japan)
• ALD Automotive (Rueil-Malmaison, France)
• Hertz (Florida, U.S.)
• Arval (Paris, France)
• LeasePlan (Amsterdam,Netherlands)
• Europcar (Paris, France)
• Daimler Financial Services (Stuttgart, Germany)

Further Findings

• The business use segment is expected to dominate the market during the forecast period. In recent years most organizations are inclined towards leasing a car to their upper management employees.
• North America holds the largest car leasing market share. North America and Europe jointly account for a major share in the market. They are expected to maintain their dominance amid the low rate of interest provided by the leasing companies in this region.

Table of Segmentation