Car Leasing Market Size

Car Leasing Market size was over USD 116.89 billion in 2024 and is projected to reach USD 271.47 billion by the end of 2037, witnessing around 6.8% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of car leasing is assessed at USD 123.16 billion. The growth of this market can be attributed to the factors such as rapid industrialization and a preference for a reliable transportation system that aids in preventing traffic jams and also reduces travel times. As per statistics from World Health Organization, nearly 55% of the world's population resides in urban areas and this number is expected to grow to 68% by the end of 2050. Therefore, a significant section of people is present who use more vehicles, which exacerbates parking issues and clogged roads in metropolitan areas.  So, the rise in public transportation systems is estimated to surge the global car market.

Moreover, pollution levels have grown owing to the high use of conventional fuels in cars. The need for shared transportation or automobile rental services has also increased due to the growing costs of cars and vehicles generally. Keeping in mind the average cost of car purchase, interest rate, and loan period, the cost of vehicles in the United States grew by USD 13,000 between 2018 to 2022. Also, the price of the latest truck and cars grew by 11.4 % in 2022 and at the same time, the cost of second-hand cars grew by 7% in the United States.