North America Luxury Car Leasing Market, By Product Type (Short-Term Rental, Long-Term Rental, Finance Leasing), Application (On-Airport, Off-Airport), Booking (Offline and Online), Vehicle Type (Compact Luxury Cars, Mid-Size Luxury Cars, Full-Size Luxury Cars, Luxury Crossovers & Minivans, and Luxury SUVs), Traveller Type (Business and Leisure/Tourism), Country (U.S., Canada and Mexico) Industry Trends and Forecast to 2027
North America luxury car leasing market is expected to reach USD 92.7 billion by 2027 and witnessing a growth of 11.0% in the forecast period of 2020 - 2027. Data Bridge Market Research report on the North America luxury car leasing market provides analysis and insights regarding the trends and factors opportunities, restraints and the competitive landscape of the competitors.
Luxury car leasing means, renting the luxury cars for a predetermined period of time based on timely payment of rentals. In car leasing process, the user does not have ownership of the vehicle and after the lease period ends, the vehicle must be returned to the owner. This service type is often organized.
The car leasing market is growing due to an increase in the trend of on-demand transportation services and the low-rate of owning a car for a time period. This trend is getting very popular among the millennial population. Also, owing to the rise in the availability of online platforms and ease of online booking of luxury cars on a rental is the factor for the growth of the luxury car leasing market. Rising in tourism worldwide is also driving the car leasing / renting market. With the growing trend of technology, leasing a car through online booking has become very popular in the past few years.
However, if a user want to lease a luxury car for a long term, then it could be more expensive for them due to which user will prefer to buy instead of leasing. Leasing a car have its own restrictions such as, user can use only have to use the car for a limited distance in a year and if crossing this limit then paying more as a penalty. Also, once leased a car, cancellation is very hard. All these factors is expected to hamper the growth of luxury car leasing market.
Increasing of tourism worldwide and increasing of technology and making these services easier for the user to opt will bring huge opportunities for the car leasing market with the support of government. Rising demand for electric vehicle will also fuel the growth of the market in forecast period. Increasing internet penetration and use of smartphones are also propelling the luxury car driving market. Advancement of GPS feature in smartphones are encouraging individuals to rent or lease a car and drive themselves.
This luxury car leasing market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the luxury car leasing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
North America Luxury Car Leasing Market Scope and Market Size
The luxury car leasing market is segmented on the basis of product type, application, booking type, vehicle type, traveller type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the luxury car leasing market has been segmented into short-term rental, long-term rental, and finance leasing market.
- Based on application, the luxury car leasing market has been segmented into on-airport and off-airport. On-airport segment is expected to dominate the market and also to grow with healthy CAGR over the forecast period.
- Based on booking type, the luxury car leasing market has been segmented into offline and online. The online booking platforms are likely to dominate the market due to more penetration of smartphones and internet facilities.
- Based on vehicle type, the luxury car leasing market has been segmented into compact luxury cars, mid-size luxury cars, full-size luxury cars, luxury crossovers & minivans, and luxury SUVs. Compact luxury cars leasing market segment is more likely to grow in comparison to other segments.
- Depending upon the traveller type, the luxury car leasing market has been bifurcated into business and leisure/tourism. Leisure/tourism car leasing market segment will expected to dominate the luxury car leasing market due to the rise in tourism industry.
North America Luxury Car Leasing Market Country Level Analysis
Luxury car leasing market is analysed and market size, volume information is provided by country, product type, application, booking type, vehicle type and traveller type as referenced above.
The country covered in the luxury car leasing market report is the U.S., Canada and Mexico.
North America is likely to continue its dominance in luxury car leasing market by 44.2% market share by 2027 due to the technological advancements in rental car services using information technology by the operators and introduction of electric vehicle in the luxury car leasing market in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and North America Luxury Car Leasing Market Share Analysis
Luxury car leasing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to luxury car leasing market.
The major players covered in the luxury car leasing market report are The Hertz Corporation., Avis Budget Group, Enterprise Holdings Inc., Europcar Mobility Group SA, ALD S.A., Localiza, LeasePlan, German Rent A Car, Fox Rent A Car, Uber Technologies, Inc. among other domestic. Market share data is available for global, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : North America Luxury Car Leasing
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.