Vehicle Leasing Market in Europe 2017-2021
About Vehicle Leasing
Vehicle lessors buy vehicles from vehicle manufacturers at competitive prices and lease them to vehicle fleet management companies, individual customers, corporate entities, SMEs, retail players, and other industry players. The lease rate and lease period will vary depending upon the millage of the vehicle along with other terms, such as the age of the vehicle, type of lease, type of vehicle, and economic growth of the country. At the end of the lease term, all the lessors maximize the value of the vehicle by selling or scrapping it at a suitable time. Passenger cars and commercial vehicles are the most commonly leased vehicles in Europe.
Technavio’s analysts forecast the vehicle leasing market in Europe to grow at a CAGR of 4.03% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the vehicle leasing market in Europe for 2017-2021. To calculate the market size, the report considers the detailed forecast of vehicle leasing for different types of vehicles.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Vehicle Leasing Market in Europe 2017-2021
Technavio recognizes the following companies as the key players in the vehicle leasing market in Europe: ALD Automotive, Arval, Deutsche Leasing, LeasePlan, and Natixis Lease
Other Prominent Vendors in the market are: DLL, Millennium Leasing Sp. z o.o, UBI Leasing, and VTB..
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Electric cars are expected to dominate passenger car leasing segment in Europe. The rising environmental concerns among the European consumers, stringent regulations by the government regarding carbon emission, shortage of fossil fuel, and government subsidies for electric car use are shifting the end-user preferences from fuel engine vehicles to electric car vehicles. Not only in Europe, but all regions across the world are expected to show higher demand for electric cars in the future.”
According to the report, one of the major drivers for this market is Rising motor vehicle production in Europe. The European motor vehicle production is growing at a fast rate. In 2016, Europe contributed around 24%-26% to the global passenger car production and around 18%-20% to the global commercial vehicle production. Germany and France are the major growth contributors. In 2015, Germany contributed around 33%-35% and France around 11%-12% to the growth of the overall motor vehicle production market in Europe. Despite the stringent regulations by the European government on carbon emission and fuel consumption, motor vehicle manufacturers are investing more in the European region because of the demand for motor vehicles in the region.
Further, the report states that one of the major factors hindering the growth of this market is Shift in consumer preferences from fuel engine vehicles to electrical vehicles. The European government has passed stringent rules for the reduction of carbon emission by cars. The government has created a target that by the end of 2020, all new cars should limit the carbon emission by 95 g of carbon per kilometer. The car manufacturers that do not abide by the above rule will be subject to penalty. It is also noted that in 2016, the car engines that were manufactured in Europe emitted 20 times less carbon, compared with the percentage emitted 16 years ago. It was difficult for car manufacturers to produce and sell improved fuel-efficient engines at the same cost as the ordinary engine cars.
ALD Automotive, Arval, Deutsche Leasing, LeasePlan, Natixis Lease, DLL, Millennium Leasing Sp. z o.o, UBI Leasing, and VTB.