The global luxury car leasing caters to discerning individuals seeking premium automotive experiences without ownership burdens. Leasing high-end vehicles from renowned luxury brands offers flexibility, avoiding maintenance costs and depreciation. It provides the epitome of luxurious freedom, granting access to top-tier automobiles. With diverse brands and models, customers indulge in opulence and advanced features. Flexible lease terms allow for regular upgrades, ensuring a consistently elevated driving experience. Luxury car leasing embodies automotive luxury and freedom, offering cutting-edge technology, unmatched comfort, and prestigious status in a dynamic market.
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Data Bridge Market Research analyses that the Global Luxury Car Leasing Market is expected to reach USD 56.73 billion by 2030, which is USD 20.89 billion in 2022, at a CAGR of 13.30% during the forecast period of 2023 to 2030. Luxury car leasing is a preferred choice for corporate executive transportation, offering businesses an elegant solution. It provides employees access to prestigious vehicles without the financial commitment and administrative challenges associated with ownership, aligning seamlessly with corporate mobility needs and maintaining a professional and sophisticated image.
Key Findings of the Study
Growing implementation of an integrated car rental system is expected to drive the market's growth rate
The market is witnessing a surge in the adoption of integrated car rental systems, driven by a growing demand for dependable travel services. This trend is particularly pronounced among major car leasing operators who are strategically leveraging integrated systems to enhance their brand and distribution platforms. The increased implementation of these integrated car rental systems is poised to be a significant factor propelling market growth, meeting the rising consumer expectations for high-quality and reliable travel experiences.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Compact, Mid-Size, Full-Size, Luxury Crossovers, Minivans, Luxury SUVs), Rental Type (Business, Leisure), Term (Short-term rental, Long-term rental, Finance leasing), Category (Self-Driven, Chauffeur-Driven), Applications (Airport, Off-airport), End User (Local Usage, Airport Transport, Outstation, Others), Booking Mode (Online, Offline)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Avis budget group (U.S.), SIXT (Germany), Enterprise Holdings, Inc (U.S.), Europcar (France), Localiza (Brazil), The Hertz Corporation (U.S.), Carzonrent India pvt ltd (India), Eco Rent a Car (India), Advantage OPCO, LLC (U.S.), Shenzhen Topone Car Rental Co. Ltd (China), Bettercar Rental (Dubai), National Car Rental (U.S.), LeasePlan (India), ALD Automotive (France), mychoize (India), Zoomcar India Private Limited (India), ORIX (Japan)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis:
The global luxury car leasing market is segmented on the basis of type, rental type, term, category, applications, end user, and booking mode.
- On the basis of type, the global luxury car leasing market is segmented into compact, mid-size, full-size, luxury crossovers, minivans, and luxury SUVs
- On the basis of rental type, the global luxury car leasing market is segmented into business, and leisure
- On the basis of term, the global luxury car leasing market is segmented into Short-term rental, Long-term rental, and finance leasing
- On the basis of category, the global luxury car leasing market is segmented into self-driven, and chauffeur-driven
- On the basis of applications, the global luxury car leasing market is segmented into airport, and off-airport
- On the basis of end user, the global luxury car leasing market is segmented into local usage, airport transport, outstation, and others
- On the basis of booking mode, the global luxury car leasing market is segmented into online, and offline
Major Players
Data Bridge Market Research recognizes the following companies as the major global luxury car leasing market players in global luxury car leasing market are Bettercar Rental (Dubai), National Car Rental (U.S.), LeasePlan (India), ALD Automotive (France), mychoize (India), Zoomcar India Private Limited (India), ORIX (Japan)
Market Developments
- In July 2022, Ikenna Ordor’s luxury car rental brand ‘Starr Luxury’, announced its expansion in the U.S. It announced its start of operation in major cities such as Los Angeles, Miami, Houston, Atlanta, and Austin. Starr Luxury is known for being one of the few companies of its kind in the world to have a collaboration with five-star hotels
- In July 2022, Uber's premium electric car service, Uber Comfort Electric, has revealed its plans for expansion into several additional cities across the United States. This expansion includes the introduction of the service in prominent locations such as Las Vegas, Portland, Seattle, Denver, Baltimore, Austin, and Philadelphia
- In December 2021, The Ajman Public Transport Authority (APTA) in the UAE has recently unveiled vehicle rental services in line with the Emirate's Vision 2021. The aim is to support federal institutions in establishing an inclusive and efficient transportation system. This development is intended to offer clients convenient access to high-quality services
- In September 2021, Corsa HQ, an esteemed provider of exotic car rentals, has collaborated with Ritz-Carlton in Orlando, Grande Lakes. As part of this collaboration, guests staying at the Ritz-Carlton can now enjoy the privilege of renting luxury automobiles from Corsa HQ's impressive portfolio, featuring esteemed brands such as Lamborghini, Rolls-Royce, Ferrari, and Bentley
Regional Analysis
Geographically, the countries covered in the global luxury car leasing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America
As per Data Bridge Market Research analysis:
North America is the dominant region in global luxury car leasing market during the forecast period 2023-2030
North America dominates the global luxury car leasing market, leading in both revenue growth and market share. The region's supremacy is attributed to the widespread adoption of advanced technologies and the substantial presence of numerous luxury car companies. These factors contribute to a robust and competitive luxury car leasing landscape, positioning North America as a key driver in shaping the trajectory of the global market.
Asia-Pacific is estimated to be the fastest growing region in global luxury car leasing market the forecast period 2023-2030
Europe is expected to dominate the global luxury car leasing market, emerging as the fastest-growing region from 2023 to 2030. The region's rapid development is attributed to substantial investments in both commercial and military aviation programs. This heightened focus on aviation initiatives underscores the economic vitality and strategic importance of the European market, making it a key driver for the anticipated growth in the luxury car leasing sector during the forecast period.
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