PUBLISHER: The Business Research Company | PRODUCT CODE: 1578685
PUBLISHER: The Business Research Company | PRODUCT CODE: 1578685
Enterprise asset leasing involves the lease of equipment, machinery, or vehicles by businesses for operational needs. This approach enables businesses to access essential assets without making significant upfront capital investments, providing greater flexibility to adapt to technological advancements and market changes.
The main types of assets involved in enterprise asset leasing include commercial vehicles, machinery and industrial equipment, real estate, information technology (IT) equipment, and others. Commercial vehicles are those used for business purposes, such as transporting goods or passengers for profit. Leasing options encompass operating leases and financial leases, serving businesses of various sizes. These businesses range from large enterprises to small and medium-sized enterprises across different industries, including transportation and logistics, manufacturing, construction, IT and telecommunications, government and public sector, and more.
The enterprise asset leasing market research report is one of a series of new reports from The Business Research Company that provides enterprise asset leasing market statistics, including enterprise asset leasing industry global market size, regional shares, competitors with a enterprise asset leasing market share, detailed enterprise asset leasing market segments, market trends and opportunities, and any further data you may need to thrive in the enterprise asset leasing industry. This enterprise asset leasing market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The enterprise asset leasing market size has grown rapidly in recent years. It will grow from $986.85 billion in 2023 to $1,103.27 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth during the historic period can be attributed to factors such as cost efficiency, regulatory compliance, operational flexibility, market expansion, and the rising adoption across various industries.
The enterprise asset leasing market size is expected to see rapid growth in the next few years. It will grow to $1,742.14 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%.The growth expected during the forecast period can be attributed to expansion in emerging markets, a shift in customer preferences toward subscription-based models, increased focus on cybersecurity for leased assets, and innovations in lease financing options. Major trends anticipated include the adoption of renewable energy and sustainable technologies, the integration of artificial intelligence and IoT for asset monitoring and management, growth in the leasing of specialized industrial equipment for manufacturing and logistics, the use of blockchain technology for transparent lease agreements, rising popularity of short-term and on-demand leasing models, and an enhanced focus on cybersecurity measures for leased assets.
The increasing demand for commercial vehicles is expected to drive the growth of the enterprise asset leasing market. Commercial vehicles, used for transporting goods or passengers for business purposes, are crucial across various industries including logistics, transportation, construction, and public services. This demand is fueled by rising urbanization, industry expansion, and growing needs for goods and services. Enterprise asset leasing facilitates the acquisition and maintenance of commercial vehicle fleets by offering flexible financing options, thus avoiding substantial upfront costs. For example, in January 2022, the European Automobile Manufacturers' Association (ACEA) reported a 9.6% increase in commercial vehicle registrations in the European Union in 2021, reaching a total of 1.88 million units. This rising demand for commercial vehicles is propelling the growth of the enterprise asset leasing market.
Key players in the enterprise asset leasing market are focusing on advanced financing solutions, such as all-inclusive leasing packages, to attract customers with more convenient and cost-effective asset management options. These packages cover maintenance, repairs, and insurance under a single lease payment, simplifying the leasing process for businesses. For instance, in October 2022, Volvo Construction Equipment, a Sweden-based provider of construction solutions, introduced a new leasing option for its electric compact equipment in the U.S. and Canada. Offered through Volvo Financial Services (VFS), this all-inclusive lease package bundles charging, maintenance, repairs, and extended coverage, providing up to 15% savings compared to separate purchases. The package includes an equipment maintenance plan, extended repair coverage beyond the factory warranty, optional physical damage insurance in the U.S., and the ability to finance a charger within the same lease terms, resulting in a unified monthly payment.
In July 2023, Penske Truck Leasing, a US-based transportation and logistics company, acquired Star Truck Rentals and Kris-Way Truck Leasing for an undisclosed sum. This acquisition enables Penske to expand its fleet and geographic footprint, access new markets and clients, enhance operating efficiencies, and solidify its leadership position in the truck leasing industry. Star Truck Rentals provides full-service leasing and truck rental services, while Kris-Way Truck Leasing specializes in truck leasing services.
Major companies operating in the enterprise asset leasing market are General Electric Company, John Deere Financial, BNP Paribas SA, Komatsu Financial LP, Liebherr-International Deutschland GmbH, Wells Fargo & Company, Orix Corporation, LeasePlan Corporation N.V., United Rentals Inc., Deutsche Leasing AG, Fifth Third Bank, Ashtead Group plc, Bohai Leasing Co. Ltd., Herc Rentals Inc., Caterpillar Financial Services Corporation, CIT Group Inc., De Lage Landen International BV, Maxim Crane Works L.P., Ahern Rentals Inc., Marlin Business Services Corp., BlueLine Rental, Mitsubishi HC Capital Inc., Mexarrend S.A.P.I. de C.V., ICBC Financial Leasing Co. Ltd
North America was the largest region in the enterprise asset leasing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise asset leasing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the enterprise asset leasing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The enterprise asset leasing market includes revenues earned by entities through operating leases, finance leases, sales and leaseback, fleet leasing, and management. 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 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.
Enterprise Asset Leasing Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on enterprise asset leasing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for enterprise asset leasing ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The enterprise asset leasing market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.