From GlobeNewswire: 2024-06-05 06:00:00

The automotive fleet leasing market is projected to reach over USD 43.5 billion by 2032 due to the rising demand for operational efficiency and cost management among businesses. Fleet leasing offers benefits like avoiding upfront costs, improving cash flow, and providing maintenance services, making it popular for firms seeking to optimize operations.

Many fleet leasing providers are now offering electric and hybrid vehicles to address the growing demand for environmentally friendly transportation solutions. Advancements in telematics and fleet management technologies are also making fleet leasing more attractive by providing real-time monitoring and analytics to help optimize routes, reduce fuel consumption, and enhance overall fleet efficiency.

The corporate application segment of the automotive fleet leasing market is expected to see significant growth from 2024 to 2032, as more companies choose fleet leasing for flexible and cost-effective transportation solutions. This approach enables companies to manage vehicle needs without large capital investments, maintain cash flow, and allocate resources to other core business areas.

The heavy commercial vehicle segment in the automotive fleet management market is likely to experience strong growth between 2024 and 2032 due to the financial and operational advantages they offer. Leasing heavy commercial vehicles allows firms to avoid substantial upfront costs, improve cash flow, and access the latest models equipped with advanced technology to enhance fuel efficiency, safety, and compliance.

Asia Pacific’s automotive fleet leasing industry is set to achieve sustained growth by 2032, driven by rapid urbanization and corporate sector expansion in countries like China, India, and Japan. The region’s urbanization is creating a need for efficient transportation solutions, making fleet leasing a popular choice. Increasing demand for flexible vehicle options, along with government incentives for electric vehicle adoption, is driving market demand.

Prominent players in the automotive fleet leasing market include Wilmar Inc., ARI, AutoFlex AFV, Velcor Leasing Corporation, and Element Fleet Management Corp. These companies are focusing on collaborations, technological advancements, acquisitions, and mergers to enhance their product offerings. For example, Merchants Fleet recently launched ClearCharge, a solution simplifying EV charging for fleets nationwide.



Read more at GlobeNewswire: Automotive Fleet Leasing Market to reach $43.5 Bn by 2032,