Commercial Vehicle Rental and Leasing Market | 2021 Automotive Industry Global Analysis To 2026
Commercial Vehicle Rental and Leasing Market | 2021 Automotive Industry Global Analysis By Covid-19 Impact On, Size, Trends, Growth, Share, Business, Key Players, Merger, Statistics, Competitive Landscape, And Regional Forecast To 2026 is latest study published by Fortune Business Insights. The Global Commercial Vehicle Rental and Leasing market expected to rise at a CAGR of 8% and exceed a valuation of USD 116.72 Billion by 2026. Commercial Vehicle Rental and Leasing Industry report anlayzes Market for Commercial Vehicle Rental and Leasing By Rent Type (Business and Personal Use), By Vehicle Type (Car, Light Commercial Vehicle, and Medium/Heavy Commercial Vehicle), and Regional Forecasts, 2020-2027.
Major Commercial Vehicle Rental and Leasing Manufacturers covered in the market report include:
PACCAR Leasing Company, Penske Automotive Group, Inc., RYDER, Enterprise Holdings Inc., The Hertz Corporation, Avis Budget Group, ALD Automotive, SIXT SE, Europcar, Localiza, Unidas, Shouqi Zuche, Goldcar, Movida, LeasePlan.
Global Commercial Vehicle Rental and Leasing Market Highlights:
The global commercial vehicle rental and leasing market size is expected to reach USD 116.72 billion by 2027, exhibiting a CAGR of 8.0% during the forecast period. The growing inclination on truck leases or rentals to dismiss the financial responsibility of servicing, maintenance, and vehicle replacement will facilitate the healthy growth of the market during the forecast period. Commercial Vehicle Rental and Leasing market size stood at USD 86.33 billion in 2019. The adoption of various marketing strategies by rental companies to expand customer bases such as alerts for discount coupons, promotional offers, real-time tracking, fare, and availability will spur opportunities for the market.
The rising development of comfortable, safe, smart, and AI-equipped vehicles by automotive manufacturers will contribute positively to the market growth. The prominent vehicle leasing and rental companies are motivated to upgrade their vehicles to cater to the needs of the customers. The smart features in car rentals such as parking recommendations, pre-trip planning, predictive navigation, and others will fuel demand for the market in the foreseeable future. The increasing technological advancement in commercial vehicles will simultaneously improve the prospects of the market.
Likewise, the rising demand for commercial vehicles, especially for long journeys, will subsequently propel the market in the forthcoming years. Moreover, the focus towards better connectivity solutions, and improve in-vehicle user-experience for commercial rental vehicles will enable speedy expansion of the market. The rising necessity for car rentals among families for long drives, family vacation, national park trip, or holiday outing will have a tremendous effect on the market in the foreseeable future. In addition, the implementation of smart vehicle technologies in commercial rental cars such as ADAS systems, 2X connectivity solutions, telematics devices, Smartphone-Bluetooth connectivity, touch sensors, and others will create lucrative business opportunities for the market.
Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers & acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
Browse More Information on This Report: https://www.fortunebusinessinsights.com/commercial-vehicle-rental-and-leasing-market-102988
The report for Global Automotive Sensors Market of Fortune Business Insights covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
North America is predicted to grow rapidly during the forecast period. The growth in the region is attributed to the demand for commercial rental vehicles in the US. The implementation of latest technologies to enhance vehicle user experience will augur well for the market. The presence of persistent companies in the US will further enhance market development in the region. Europe is likely to expand substantially owing to the rising tourism sector in Spain, Germany, France, UK, and Italy. Asia Pacific is predicted to hold the largest share in the forthcoming years owing to the growing population in India and China. The thriving automotive industry will create opportunities for the market in Asia Pacific. In addition, the growing disposable income of people will influence the growth of the market in the region.
This report focuses on Commercial Vehicle Rental and Leasing Global Market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application. Regional analysis is another highly comprehensive part of the research and analysis study of the global market presented in the report. This section sheds light on the sales growth of different regional and country-level markets. For the historical and forecast period to 2026, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global market.
Commercial Vehicle Rental and Leasing Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Supply Chain Analytics market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Supply Chain Analytics market
Competitive Analysis And Industry News:
Major companies in the global Commercial Vehicle Rental and Leasing Market are increasingly focusing on research and development activities to create new and innovative products to stay ahead of the competition. For example, recently, Hankook unveiled its non-pneumatic concept tire, iFlex, that removes the need for air pressure and the company claims that it performs better than conventional tires. Some players are widening their operability and venturing into new industries. For instance, in June 2019, Goodyear secured the contract to supply Airbus with its most advanced aviation product, The Flight Radial, that is made of high quality rubber, ensuring longer durability and resistance.
Key questions answered in the report:
- What will the market growth rate of Commercial Vehicle Rental and Leasing Market in 2026?
- What are the key factors driving the global Commercial Vehicle Rental and Leasing Market?
- Who are the key manufacturers in Commercial Vehicle Rental and Leasing Market space?
- What are the market opportunities, market risk and market overview of the Commercial Vehicle Rental and Leasing Global market?
- What are sales, revenue, and price analysis of top manufacturers of Commercial Vehicle Rental and Leasing Global market?
- What are sales, revenue, and price analysis by types and applications of Commercial Vehicle Rental and Leasing Market?
- What are sales, revenue, and price analysis by regions of Commercial Vehicle Rental and Leasing Market?
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