Leasing Global Market Opportunities and Strategies to 2034

This report describes and explains the leasing market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global leasing market reached a value of nearly $1.89 trillion in 2024, having grown at a compound annual growth rate (CAGR) of 8.25% since 2019. The market is expected to grow from $1.89 trillion in 2024 to $3.0 trillion in 2029 at a rate of 9.61%. The market is then expected to grow at a CAGR of 9.85% from 2029 and reach $4.8 trillion in 2034.

Growth in the historic period resulted from increasing infrastructure projects, growth of e-commerce and logistics, growing number of small and medium-sized enterprises and growth in residential construction activity. Factors that negatively affected growth in the historic period were stringent regulatory compliance and high interest rate on lease agreements.

Going forward, rising government initiatives, growing tourism and hospitality sector, rising cost of capital assets and increase in cross-border trade will drive the growth. Factor that could hinder the growth of the leasing market in the future include impact of trade war and tariffs, limited leasing awareness and financial literacy and asset depreciation and obsolescence risk.

North America was the largest region in the leasing market, accounting for 36.13% or $685.88 billion of the total in 2024. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the leasing market will be Africa and Middle East where growth will be at CAGRs of 13.68% and 13.14% respectively. These will be followed by Western Europe and South America where the markets are expected to grow at CAGRs of 11.56% and 11.19% respectively.

The global leasing market is fragmented, with large number of small players operating in the market. The top ten competitors in the market made up to 6.39% of the total market in 2024. Volkswagen Leasing GmbH was the largest competitor with a 1.63% share of the market, followed by Mercedes-Benz AG with 1.01%, United Rentals Inc. with 0.69%, Ayvens (ALD Automotive) with 0.63%, Ashtead Group with 0.53%, Deutsche Leasing AG with 0.43%, Hertz Global Holdings Inc with 0.43%, AerCap Holdings N.V. with 0.37%, Localiza Rent a Car S.A. with 0.35% and Toyota Financial Services Corporation with 0.33%.

The leasing market is segmented by type into automotive equipment leasing, consumer goods and general rental centers, machinery leasing, lessors of nonfinancial intangible assets. The lessors of nonfinancial intangible assets market was the largest segment of the leasing market segmented by type, accounting for 37.55% or $712.78 billion of the total in 2024. Going forward, the automotive equipment leasing segment is expected to be the fastest growing segment in the leasing market segmented by type, at a CAGR of 11.28% during 2024-2029.

The leasing market is segmented by mode into online and offline. The offline market was the largest segment of the military unmanned underwater vehicles market segmented by mode, accounting for 85.47% or $1.62 trillion of the total in 2024. Going forward, the online segment is expected to be the fastest growing segment in the military unmanned underwater vehicles market segmented by mode, at a CAGR of 13.55% during 2024-2029.

The leasing market is segmented by lease type into closed ended lease, option to buy lease, sub-vented lease, other lease types. The closed ended lease market was the largest segment of the leasing market segmented by lease type, accounting for 43.21% or $820.24 billion of the total in 2024. Going forward, the sub-vented lease segment is expected to be the fastest growing segment in the leasing market segmented by lease type, at a CAGR of 13.13% during 2024-2029.

The top opportunities in the leasing markets segmented by type will arise in the lessors of nonfinancial intangible assets segment, which will gain $402.37 billion of global annual sales by 2029. The top opportunities in the leasing markets segmented by mode will arise in the offline segment, which will gain $859.73 billion of global annual sales by 2029. The top opportunities in the leasing markets segmented by lease type will arise in the closed ended lease segment, which will gain $489.86 billion of global annual sales by 2029. The leasing market size will gain the most in the USA at $228.14 billion.

Market-trend-based strategies for the leasing market include focus on expanding offerings to include cost-effective and sustainable solutions, focus on digital and flexible leasing solutions, focus on integrating digital leasing services within existing platforms, focus on innovative models to support sustainable and affordable mobility solutions, focus on strategic partnerships to develop innovative leasing solutions, focus on enhancing e-commerce leasing platforms, focus on developing digital platforms to offer specialized leasing solutions, focus on developing technological advancements such as financing and lease programs and focus on expanding into emerging sectors through digital platforms.

Player-adopted strategies in the leasing market include focus on expanding operational capabilities through strategic acquisitions and focus on enhancing business operations through strategic collaborations and partnerships.

To take advantage of the opportunities, the analyst recommends the leasing market companies to focus on expanding cost-effective and sustainable leasing models, focus on expanding digital and flexible leasing solutions, focus on integrating digital leasing services into existing platforms, focus on supporting sustainable and affordable mobility models, focus on enhancing e-commerce leasing platforms, focus on developing specialized digital platforms for industry-specific leasing, focus on advancing financing and lease programs to improve customer access and efficiency, focus on automotive equipment leasing to capture high-growth opportunities, focus on expanding into emerging sectors through digital leasing platforms, continue to focus on developed markets, provide competitively priced offerings, continue to use B2B promotions, focus on strategic partnerships to strengthen service integration and focus on expanding leasing services across high-demand end-user sectors.

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