Harrisburg, NC -- (SBWIRE) -- 10/20/2020 -- The report titled "Automobile Rental And Leasing Market" has recently added by MarketInsightsReports to get a stronger and effective business outlook. It provides an in-depth analysis of different attributes of industries such as trends, policies, and clients operating in several regions. The qualitative and quantitative analysis techniques have been used by analysts to provide accurate and applicable data to the readers, business owners and industry experts.
The global automobile rental and leasing market is expected to decline from $366.9 billion in 2019 to $239.6 billion in 2020 at a compound annual growth rate (CAGR) of -35%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 15.06% from 2021 and reach $421.3 billion in 2023. The market is expected to grow at a CAGR of 8.1% to nearly $492.6 billion by 2025, and at a CAGR of 8.0% to $723.3 billion by 2030.
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Top Companies in the Global Automobile Rental And Leasing Market: Enterprise Holdings; The Hertz Corporation; Avis Budget; Daimler Group; LeasePlan and Other
Markets Covered:
By Type Of Service: Passenger Car Rental; Passenger Car Leasing; Truck, Utility Trailer, And Recreational Vehicle Rental And Leasing
By Type Of Mode: Online; Offline
By Type Of Lease: Open; Close
By End Use: Individual; Corporate
The automobile rental and leasing market is segmented by type into passenger car rental, truck, utility trailer, and RV (recreational vehicle) rental and leasing, and passenger car leasing. The passenger car rental market was the largest segment of the automobile rental and leasing market, accounting for 61.6% of the total in 2019. It was followed by truck, utility trailer, and RV (recreational vehicle) rental and leasing, and passenger car leasing. Going forward, the passenger car leasing segment is expected to be the fastest growing segment in the automobile rental and leasing market, at a CAGR of 6.2%.
The automobile rental and leasing market is segmented by mode into passenger online and offline. The offline market was the largest segment of the automobile rental and leasing market segmented by mode, accounting for 50.6% of the total in 2019. Going forward, the online segment is expected to be the fastest growing segment in the automobile rental and leasing market segmented by mode, at a CAGR of 9.1%.
The automobile rental and leasing market is segmented by type of lease into open and close. The open market was the largest segment of the automobile rental and leasing market segmented by type of lease, accounting for 60.2% of the total in 2019. It is also expected to be the fastest growing segment in the automobile rental and leasing market segmented by type of lease, at a CAGR of 4.3%.
The automobile rental and leasing market is segmented by end use into industrial and corporate. The industrial market was the largest segment of the automobile rental and leasing market segmented by end use, accounting for 56.5% of the total in 2019. It is also expected to be the fastest growing segment in the automobile rental and leasing market segmented by end use, at a CAGR of 3.7%.
Asia-Pacific was the largest region in the global automobile rental and leasing market, accounting for 31.9% of the total in 2019. It was followed by Western Europe, North America, and then the other regions. Going forward, the fastest-growing regions in the automobile rental and leasing market will be Eastern Europe and Asia Pacific, where growth will be at CAGRs of 4.3% and 4.1% respectively. These will be followed by Western Europe and South America, where the markets are expected to grow at CAGRs of 3.6% and 3.2% respectively.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Automobile Rental And Leasing Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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