The leasing services market comprises establishments that provide the use of a wide variety of tangible goods such as consumer goods, industrial machinery and equipment, automobiles and others and assign intangible assets such as trademarks to customers in return for a periodic rental or lease payment.
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The global leasing market has been growing in the past years with a CAGR of almost 10%. The year 2017 recorded high growth in this market with a net market value almost 30% higher than that of 2013, as per TBRC’s in-house consultants.
TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the global leasing market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
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With the rise in mobile phone and internet penetration, online portals and mobile applications are widely being used to rent or lease goods. These mobile applications and online portals consist of an interface that enables users to view products and choose the desired one to be rented. The online leasing portals may offer various types of products or specialize in a single product. Major products being widely offered for lease through online portals include electronics, furniture, appliances, cameras, automobiles and others. According to PricewaterhouseCoopers, around 44% of US adults are familiar with the sharing economy which includes leasing and global revenues for this market is expected to increase from $15 billion in 2014 to $335 billion by 2025.
Companies included in the report are Enterprise Holdings Inc., Hertz Global Holdings Inc., LeasePlan Corporation N.V, Avis Budget Group Inc., and United Rentals Inc.
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