The demand for Leasing of environmentally friendly heavy equipment owing to increasing environmental awareness among manufacturers and construction companies and government policies. Heavy equipment leasing companies are procuring equipment manufactured according to standards set by regulatory agencies to control emissions. Also, construction companies in many countries are required to use environmentally friendly equipment to carry out construction activities. For example, Tier IV non-road diesel engines are being used in heavy machinery as part of the United States Environmental protection Agency’s initiative to reduce carbon emissions from construction equipment. CAT and Neff Rental are some of the companies providing tier IV heavy machinery equipment.
THE GLOBAL LEASING Market IS EXPECTED TO GROW TO $2.7 TRILLION IN 2021 ACCORDING TO THE BUSINESS RESEARCH COMPANY.
The global leasing market is expected to grow from $1.8 trillion in 2017 to $2.7 trillion in 2021 at a compound annual growth rate (CAGR) of 10.3%. Asia Pacific was the largest region in the leasing market in 2017, accounting for $0.7 trillion or 38.6% market share.
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According to The Business Research Company’s Consultant, Ramesh Yelugoila, the expected increase in demand for leasing services is from business establishments that are increasingly focusing on avoiding capital investments on machinery and equipment and preferring leased equipment.
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Enterprise Holdings Inc. was the largest company in the Leasing Services Market in 2017 with 1.16% share of market and generated revenues of $20.9 billion for the financial year 2016. The company’s growth strategy is to expand its foot print in the global car leasing services market through strategic acquisitions. For instance, in June 2017, the company acquired Vride, a US based vanpooling company for undisclosed amount. In July 2013, Enterprise Holdings completed the acquisition of Zimride, an online service provider in the US that connects drivers, passengers, partners and corporate campuses to facilitate sustainable transportation solutions.
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.
Leasing Market Global Briefing is a detailed report giving a unique insight into this market. The report is priced at $1000 for an individual user. To use across your office, the price is $1500 and $2000 if you wish to use across a multinational company.
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