Automotive Fleet Leasing Market: By Lease Type (Open Ended and Close Ended), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), and by Geography (North America, Europe, Asia Pacific, Latin America, MEA)

Automotive Fleet Leasing Market size was valued at USD 28,761.7 million in 2022 and is poised to grow at a significant CAGR of 5.5% from 2023 to 2029. In an automotive fleet leasing service, the firm that owns the fleet leases it to other businesses. Manufacturing companies require a large fleet to deliver their goods and products, and they choose for fleet leasing company. Furthermore, numerous businesses require a fleet of passenger vehicles to carry their staff. Large-goods manufacturers either own or lease their fleets. Owning a fleet includes the cost of managing and maintaining the fleet, the cost of fuel, drivers, and other staff, management system, and parking space. As a result, businesses prefer to lease fleet vehicles to avoid these additional fees, which is much less expensive than owning a fleet. As a result, the global vehicle fleet leasing business is expected to accelerate over the forecast timeline. Furthermore, the global automotive fleet leasing market is being driven by the rapid expansion of the shared mobility, food and beverage, and other industries, as well as strict emission regulations. Changes in emission standards around the world force fleet owners to replace older cars with newer ones; as a result, many fleet owners, including governments and other private businesses, choose fleet leasing. The global automotive vehicle fleet leasing business is expected to offer healthy growth opportunities over the forecast period. The Inseego signed a deal with Convergence Partners