According to study, “Automotive Equipment Leasing Global
Market” the key companies
operating in the global automotive
equipment leasing market are United Rental, Blue line Rental, Sunbelt Rental,
Home Depot Rentals, H&E Equipment Services, Enterprise
Holdings, The Daimler, Hertz Corporation, Avis Budget, Volkswagen Leasing GmbH.
Most of the key companies are using some technologies such as big data to
improve customer service and enhance vehicle life. Big data is a large amount
of data that can be analyzed to gain insights & drive decision making.
Automotive equipment leasing is a cost effective or
lucrative solution for small auto repair shops as well as large car
dealerships. Leasing is used as a key process to impel electric vehicle sales,
especially in developed markets. Leasing provides newest equipment and latest
technologies. It is used for a fixed period of time at an agreed amount of money
for the lease. Automotive equipment lease is classified as crankshaft
balancers, pipe blenders, alignment machines, frame machines, diagnostic
equipment, wheel balancers, paint booths, A/C service equipment, software
(administrative and/or estimating), point-of-sale equipment, brake lathes, tire
changers, automotive lifts, spot welders and pneumatic tools etc. It offers
advantages to both sellers and buyers. Leasing preserve the most modern
equipment and provide the latest technologies.
The key benefits are included zero down payments, keep equipment
up-to-date, quick budget approval, ability to include extra costs in lease
(training and software & installation), avoid paying for things that won’t
use, provide opportunity for tax benefits and Keep credit lines open. Some
examples of leasing solutions are vehicle lifts, wheel balancers, tire changer,
wheel alignment, jacks & hoists, brake & drum lathes, automotive
diagnostic equipment, frame straighteners and engine dynamo meters.
Based on type of leases, global automotive equipment
leasing market is segmented into long term or capital leases and operating
leases. Long-term or capital leases are non-cancelable leases, also known as
financial leases or full payout while operating leases are cancelable or
short-term leases. Based on value of equipment leased, market is segmented into
large ticket ($2 million), medium ticket and small ticket ($100,000). Based on
type of product, market is segmented into passenger
car rental, utility trailer, truck, and RV (Recreational Vehicle) rental &
leasing and passenger car leasing.
The automotive equipment leasing market is driven by
rise in consumer awareness & growth in the used car market, followed by emerge in markets growth, increase in
demand for leasing, rise in disposable income, increase in demand for mobility,
and growing popularity of e-commerce, electric vehicles, and technological
advances. However, growing popularity of on-demand taxi services and customer
service & transparency may impact the market. The on-demand taxi service
providers provide cost-effective and efficient mobility services with a mobile
app for instance Uber,
Lyft, Ola, Hailo, Didi Dache, Grab Taxi, and Gett. Moreover, an increase in use
of Internet of Things or IoT technology for maintenance & management of
fleets is a major trend for the market. IoT technology is a network of internet
connected objects which are able to collect or exchange data with embedded
sensors.
In upcoming years, it is expected that the global automotive
equipment leasing market will be reached at a fast pace because of rise in
technological innovations.
For more information on the research
report, refer to below link:
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Research
Ankur
Gupta, Head Marketing & Communications
+91-9015378249
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