Leasing Global Market Report 2024

The leasing market size has grown rapidly in recent years. It will grow from $1685.5 billion in 2023 to $1856.11 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth observed in the historical period can be attributed to several factors, including robust growth in emerging markets, demand from the aerospace and defense industry, an increase in consumer awareness, growth in the used cars market, expansion in residential construction activity, and heightened internet penetration.

The leasing market size is expected to see rapid growth in the next few years. It will grow to $2738.03 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The anticipated growth in the forecast period can be attributed to global population growth and urbanization, the increasing popularity of electric vehicles, the emergence of start-ups, the growing healthcare industry, rising infrastructure spending, and the development of mega infrastructure projects. Prominent trends expected in this period include the provision of products and services through online portals and mobile applications, investment in the untapped medical equipment segment, the implementation of IoT technology for efficient fleet management, investment in environmentally friendly equipment and machinery, offering car subscription services for the millennial population, a focus on including electric vehicles in the portfolio, providing subscription services to meet the rising demand for affordable fashion, investment in virtual or augmented reality to enhance productivity, the use of predictive analytics to improve performance, efficiency, utilization rates, and reduce downtime, investment in big data technology to enhance customer service, and investing in fleet management software to increase operational efficiency.

The leasing market is expected to experience a significant boost due to the increasing prominence of startups as major clients of leasing service providers. Driven by a focus on cost efficiency and the need to access advanced but often expensive equipment, startups are increasingly opting for equipment rental or leasing. The market is further positively influenced by the growing number of startups, with 33.2 million startups recorded in the US in 2022, marking a substantial increase of 700,000 compared to the previous year.

The leasing market is anticipated to witness growth propelled by the rising demand for real estate. Whether residential or commercial, leasing real estate properties is seen as advantageous for landlords, providing a consistent source of cash flow to cover various expenses such as mortgage payments and property maintenance costs. In 2023, 10% of recent home sales were recorded as for sale by owner (FSBO) sales in the US, up from 7% the previous year, indicating a significant trend driving the leasing market.

Car rental and leasing companies are increasingly utilizing Internet of Things (IoT) technology to manage and maintain their fleets effectively. The IoT involves a network of internet-connected objects or devices with embedded sensors for data collection and exchange. Car leasing companies leverage IoT to access real-time data, including odometer readings and diagnostic trouble codes, facilitating efficient fleet maintenance. This technology is also employed by car rental companies for tasks such as checking fuel levels at the point of car return, eliminating the need for manual checks. For instance, Hertz, a prominent car rental firm, is implementing IoT to offer keyless car rental services and streamline fleet management, ultimately reducing costs.

Major players in the leasing market are introducing innovative platforms, such as retail leasing platforms, to stay competitive. A retail leasing platform is a software solution designed to assist property managers, landlords, and owners in effectively managing their retail leases. In 2021, Dottid, a US-based commercial real estate company, launched Dottid Industrial, a retail leasing and asset management platform. Tailored for the industrial property asset class, Dottid Industrial serves as a comprehensive retail leasing workflow management platform, providing property owners and leasing teams with valuable data, visualizations, and streamlined processes, resulting in enhanced efficiency and cost savings for all involved parties in leasing transactions.

Major companies operating in the leasing market report are Volkswagen leasing GmbH, Enterprise Holdings Inc., Mc Donald's Corporation, Daimler, United Rentals Inc., 7 - Eleven, LeasePlan Corporation N.V., Ashtead Group, Deutsche Leasing AG, Tokyo Century, Quippo Infrastructure Limited, GMMCO, Hami Ximeng Trade Co Ltd., Toyota Rentacar, Orix Rentacar, Anji Leasing, China Auto Rental Holdings Inc., EHi Auto Services Co. Ltd., Shenzhen City Extreme Car Rental Co. Ltd., Shouqi Car Rental Co. Ltd., Europcar, Hertz, Avis Budget, Van Anda Aviation, BNP Paribas Leasing Solutions, Oak Leasing, Renault Eurodrive, Sixt, Business Lease Group, KAMAZ Leasing Company, Volvo Finance Service Vostok, VTB Leasing, ALD Automotive, Interleasing Ltd., VEB-leasing, Trust Capital, Wells Fargo Financial Equipment Leasing, Hitachi Capital America Corp, TCF Equipment Finance, Advantage Rent a Car, Aercap Holdings N.V., McDonald's Corporation, Ryder, National Leasing, Canadian Leasing Company, Localiza, Locamerica-Unidas, Best Fleet (Unidas), Ouro Verde, Movida, Safra Leasing S.A., BB Leasing, Leasing Bolívar S.A, HALA Equipment Trading LLC, Perfect Machinery & Equipment Trading & Hire LLC, Arabian Machinery and Heavy Equipment Company, Al Badie Group (ABG), Paramount Leasing & Car Rental LLC, Budget, Barloworld South Africa (PTY) Ltd., Bidvest Car Rental (PTY) Ltd., Car Hire Brokers (PTY) Ltd., CMH Car Hire (PTY) Ltd., Gage Car Rental (PTY) Ltd., Imperial Vehicles, Unitrans Automotive (Pty) Ltd., Sorbet, Mai Thai Wellness Spa, Lanzerac Spa, Niobe Salon and Spa, Marie Noelle's Spa & Salon, Jane'm salon & spa, Ubuntu Wellness Centre.

Asia-Pacific was the largest region in the leasing market in 2023. North America was the second-largest region in leasing market. The regions covered in the leasing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the leasing market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa. The leasing market consists of revenues earned by entities that are engaged in providing variety of tangible goods leasing services such as passenger car rental, consumer goods rental, general rental, heavy construction machinery rental. This market does not include house leasing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.


The primary categories of leasing encompass automotive equipment leasing, consumer goods, general rental centers, machinery leasing, and lessors of nonfinancial intangible assets. Within the automotive equipment leasing industry, businesses engage in renting or leasing vehicles without drivers, including passenger cars, truck tractors, utility trailers, buses, semi-trailers, trucks, recreational vehicles (RVs), and passenger vans. Various modes of leasing, such as online and offline, are employed, and different lease types include closed-ended lease, option-to-buy lease, sub-vented lease, and others.

The leasing market research report is one of a series of new reports that provides leasing market statistics, including leasing industry global market size, regional shares, competitors with a leasing market share, detailed leasing market segments, market trends, and opportunities, and any further data you may need to thrive in the leasing industry. This leasing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.