“Global Automotive Fleet Leasing Market, by Lease Type (Open-Ended, Close-Ended), by Vehicle Type (Commercial Vehicle, Passenger Vehicle), as well as by Region – Global Forecast 2020 to 2029.”, which offers a comprehensive view of the global automotive fleet leasing market through systematic segmentation, covering every aspect of this target market. The 5-year (2020–2025) cumulative revenue of this market is projected to be over USD $39,894.1 Mn, and is estimated to increase significantly over the latter part of the forecast period.
Fleet Vehicles are groups of motor vehicles owned or leased by a business, government agency, or other organization rather than by an individual or family. Typical examples of are vehicles operated by car rental companies, taxicab companies, public utilities, public bus companies, and police departments.
Exponential levels of urbanization being experienced, more specifically in emerging economies, on account of the ever-increasing populations across the world is expected to remain a crucial factor that is anticipated to continue the fuel the revenue growth of the global automotive fleet leasing market in the years to come. Moreover, as the disposable incomes of individuals continue to increase at a steady pace, so do their respective spending abilities, and this is another major factor that is slated to have a profound influence on the market growth of this global industry in near future. Additionally, a greater number of individuals are now becoming more aware of the numerous benefits associated with the automotive fleet leasing services such as, fixed monthly expenditures, various tax privileges, lower repair costs, etc., owing to which an increasing number of them are now opting for these services, resulting in better opportunities for market growth. Furthermore, various governing bodies across the world are now focusing on revamping their existing vehicle fleets with those that are more efficient (electric or hybrid vehicles) due to respective environmental concerns, as well as the exponential expansion of several end-use industries (food & beverage, private & public transportation sectors, etc.), that rely on various fleet leasing services to operate, are some of the other major factors that are anticipated to have a significant impact on the revenue growth of the global automotive fleet leasing market in the coming years, and in doing so, are expected to aid in edging the projected revenue of this global industry to USD $53,267.7 Mn by 2030, at a CAGR of 7.7%.
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