Global Luxury Car Leasing Market, By Type (Compact, Mid-Size, Full-Size, Luxury Crossovers, Minivans, Luxury SUVs), Rental Type (Business, Leisure), Term (Short-term rental, Long-term rental, Finance leasing), Category (Self-Driven, Chauffeur-Driven), Applications (Airport, Off-airport), End User (Local Usage, Airport Transport, Outstation, Others), Booking Mode (Online, Offline) – Industry Trends and Forecast to 2030.
Luxury Car Leasing Market Analysis and Size
The preference for leasing luxury cars over normal cars is expected to grow during the forecast period. Digitization has been one of the major factor for the growth of the market, especially after the COVID-19 pandemic since the offline market became less in demand. Currently, approximately 1149 billionaires reside in the Asia-Pacific region, demanding luxury cars on the rental basis. Leasing luxury cars is one of the evolving businesses in both developed and developing region due to augmented trends during the forecast period.
Data Bridge Market Research analyses that the luxury car leasing market is expected to reach USD 56.73 billion by 2030, which is USD 20.89 billion in 2022, at a CAGR of 13.30% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Luxury Car Leasing Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Compact, Mid-Size, Full-Size, Luxury Crossovers, Minivans, Luxury SUVs), Rental Type (Business, Leisure), Term (Short-term rental, Long-term rental, Finance leasing), Category (Self-Driven, Chauffeur-Driven), Applications (Airport, Off-airport), End User (Local Usage, Airport Transport, Outstation, Others), Booking Mode (Online, Offline)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Avis budget group (U.S.), SIXT (Germany), Enterprise Holdings, Inc (U.S.), Europcar (France), Localiza (Brazil), The Hertz Corporation (U.S.), Carzonrent India pvt ltd (India), Eco Rent a Car (India), Advantage OPCO, LLC (U.S.), Shenzhen Topone Car Rental Co. Ltd (China), Bettercar Rental (Dubai), National Car Rental (U.S.), LeasePlan (India), ALD Automotive (France), mychoize (India), Zoomcar India Private Limited (India), ORIX (Japan)
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Market Opportunities
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Market Definition
Luxury car leasing is mainly renting expensive luxury cars which offer unmatched levels of quality, comfort and better performance and also consists of extraordinary lavish interior and of top-end features and a robust security system. These services are generally located near airports or busy areas in the city.
Luxury Car Leasing Market Dynamics
Drivers
- Growing implementation of an integrated car rental system
The rise in the implementation of integrated car rental system due to the increasing demand for high-quality, reliable and familiar travel services during travel further influence the growth of the market. Some major car leasing operators are highlighting leveraging the trend to develop their brand and distribution platforms. Therefore, increasing implementation of an integrated car rental system is expected to drive the growth of the market.
- Increasing digitization in the luxury car leasing market
Increasing digitization in the luxury car leasing industry will drive the market growth during the forecast period. The adoption of autonomous vehicles on a large scale by consumers is accelerating. All the market players are offering various discounts for their services which will help increase the bookings for renting luxury cars. Most companies are focusing on providing autonomous vehicles to improve their profitability. Autonomous vehicles have helped improve the customer experience. Thus, increasing digitization in the luxury car leasing market is expected to propel the market growth during the forecast period of 2023 to 2030.
Opportunities
- Continuous technological advancements in luxury cars
Continuous technological advancements have offered better opportunities for the growth and expansion of the business in the coming years. Using various automation and software in these luxury cars has improved the satisfaction of customer. The use of applications has made bookings reliable and easy. All of these factors will increase the growth of the market during the forecast period of 2023 to 2030.
Restraints
- Lack of awareness regarding luxury car leasing facilities
Since many people are unaware of the availability of luxury car leasing facilities, this is projected to challenge the market growth during the forecast period. These facilities are not widely accessible in the world's underdeveloped nations, and there are not many options available in terms of automobile models. Therefore, all these factors are expected to obstruct the luxury car leasing market growth during the forecast period.
This luxury car leasing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the luxury car leasing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In 2021, GoAir started its partnership with Eco Europcar. With this partnership, these companies aim to launch the services for leasing cars across around 100 different locations in India, including around 25 airports on GoAir's domestic network as a part of Value Added Services (VAS).
Global Luxury Car Leasing Market Scope
The luxury car leasing market is segmented based on the type, rental type, term, category, applications, end user and booking mode. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Compact
- Mid-Size
- Full-Size
- Luxury Crossovers,
- Minivans
- Luxury SUVs
Rental Type
- Business
- Leisure
Term
- Short-term rental
- Long-term rental
- Finance leasing
Category
- Self-Driven
- Chauffeur-Driven
Applications
- Airport
- Off-airport
End User
- Local Usage
- Airport Transport
- Outstation
- Others
Booking Mode
- Online
- Offline
Luxury Car Leasing Market Regional Analysis/Insights
The luxury car leasing market is analyzed and market size insights and trends are provided by country, type, rental type, term, category, applications, end user and booking mode as referenced above.
The countries covered in the luxury car leasing market report are report U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the luxury car leasing market in terms of revenue growth and market share due to the prevalence of advanced technologies and the presence of large number of luxury car companies in this region.
Europe is projected to be the fastest developing region during the forecast period of 2023-2030. This is mainly increasing investments in this region's numerous commercial and military aviation programs.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Luxury Car Leasing Market Share Analysis
The luxury car leasing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to luxury car leasing market.
Some of the major players operating in the luxury car leasing market are:
- Avis budget group (U.S.)
- SIXT (Germany)
- Enterprise Holdings, Inc (U.S.)
- Europcar (France)
- Localiza (Brazil)
- The Hertz Corporation (U.S.)
- Carzonrent India pvt ltd (India)
- Eco Rent a Car (India)
- Advantage OPCO, LLC (U.S.)
- Shenzhen Topone Car Rental Co. Ltd (China)
- Bettercar Rental (Dubai)
- National Car Rental (U.S.)
- LeasePlan (India)
- ALD Automotive (France)
- mychoize (India)
- Zoomcar India Private Limited (India)
- ORIX (Japan)
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