South America Commercial Vehicle Rental And Leasing Market: Industry Analysis and Forecast (2024-2030)

South America Commercial Vehicle Rental And Leasing Market Definition:

Rental trucks and equipment, as well as other services, are part of the South America Commercial Vehicle Rental And Leasing business. These businesses typically run a retail store or a facility that rents and leases automotive equipment. Short-term rental and long-term lease services are offered by some car companies, while others offer both.

 

Vehicle rental companies generally serve customers who require a temporary vehicle, such as those who do not own a car, out-of-town travelers, or owners of damaged or destroyed vehicles awaiting repair or insurance settlement. Also, with the growing logistics sector and the emergence of new e-commerce enterprises, rentals are the most cost-effective way for them to lower their initial investment in delivery vehicles.

 

 

To get more Insights: Request Free Sample Report

 

South America Commercial Vehicle Rental And Leasing Market Dynamics:

 

Drivers:

 

Electric vehicles will become more popular as a result of global sustainable development efforts and customer desire for environmentally friendly transportation options. While high costs, a lack of charging infrastructure, and range anxiety have discouraged people from purchasing electric vehicles, government initiatives such as tax breaks and movement limitations on gas-powered vehicles in major cities will have a far-reaching impact. Certain economies, such as Mexico and Chile, have shown a willingness to accept personal automobiles more quickly, while Brazil has already made a step toward EV adoption in commercial passenger and goods carrier vehicles.

 

Restraints:

 

There is a high cost associated with the market since rental vehicle companies supply a mix of entertainment and information for an improved in-vehicle experience. The cost of a regular lease can range from $300 per month for small trucks and cars to over $1,000 per month for large, luxury, or semi-trucks. These factors will limit the market's growth over the forecast period.

 

Trends in Fuel Prices

 

Argentina's fuel costs are still among the highest in the South American area. Argentina is the second most costly country in South America, according to the regional ranking. The average price per litre of gasoline in Argentina was 25.06 Argentine Pesos (USD 1.24) from December 25, 2017, to April 2, 2018.

 

Opportunities:

 

High visitor numbers, the growth of free independent travelers, and tremendous prospects in cab-sharing services have all contributed to the rapid growth of the South American commercial vehicle rental business. Also, the increasing importance of IT platforms, the increasing number of competitors in the automobile rental and sharing business, and the increase in inbound arrivals will all contribute to the growth of the South American commercial vehicle rental market throughout the forecast period.

 

Recent Developments: Car Rental Market Strategies Employed Recently

• Collaborations, Partnerships, and Agreements: Localiza established an enterprise deal with CalAmp, a digital solutions pioneer, in January 2021. The deal aims to reinvent the vehicle rental experience in Brazil for both fleet operators and consumers. The firms are collaborating to develop new value-added telematics technologies for a variety of fleet management applications around the world.

 

• Product Launches and Expansions: Localiza launched Zarp Localiza, a new business platform, in July 2021. This platform is designed for app drivers who hire cars for work, and it brings together the services that make up an app that centralizes all car rental services.

 

South America Commercial Vehicle Rental And Leasing Market Segment Analysis:

By Application,

 

The market is divided into four types based on application: local usage, airport transportation, outstation, and others. The dominant segment, with the largest market share, is airport transportation. The segment's revenue stream is being boosted by a large growth in air travelers around the world. Various operators throughout the world are attempting to profit from this trend by developing their brands and promoting their services in all of the world's major airports. Leading Commercial Vehicle rental companies have facilities at airports where customers may rent cars 24 hours a day, seven days a week, driving the segment growth.

 

 

South America Commercial Vehicle Rental And Leasing Market Regional Insights:

Brazil dominated the South American Commercial Vehicle Rental & Leasing Market in 2023. One of the major reasons affecting the area market’s growth is the increasing number of leisure and business trips across the region, both domestically and globally. Also, a steady movement in consumer preferences toward rental services, as well as the presence of major service providers in the region, such as Uber Technologies Inc., Lyft Inc., Didi Chuxing, BMW AG, Aptiv PLC, Robert Bosch GmbH, IBM Corporation, Gett Inc., are likely to boost revenue generation opportunities in this region.

 

South America Commercial Vehicle Rental And Leasing Market Key Players Insights:

The market is characterized by the existence of several well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the global market, key players in the market, particularly in North America and Europe, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the South America Commercial Vehicle Rental And Leasing Market to the stakeholders in the industry. The report provides trends that are most dominant in the South America Commercial Vehicle Rental And Leasing Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the South America Commercial Vehicle Rental And Leasing Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the South America Commercial Vehicle Rental And Leasing Market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the South America Commercial Vehicle Rental And Leasing Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the South America Commercial Vehicle Rental And Leasing Market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the South America Commercial Vehicle Rental And Leasing Market. The report also analyses if the South America Commercial Vehicle Rental And Leasing Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, and if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the South America Commercial Vehicle Rental And Leasing Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the South America Commercial Vehicle Rental And Leasing Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the South America Commercial Vehicle Rental And Leasing Market is aided by legal factors.

 

South America Commercial Vehicle Rental And Leasing Market Scope:

South America Commercial Vehicle Rental And Leasing Market Scope
Market Size in 2023	USD 7.11 Bn.
Market Size in 2030	USD 9.88 Bn.
CAGR (2024-2030)	4.8%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	by Rent Type Leisure/Tourism Commercial
	by Application Airport Transport Local Usage Outstation Others
Country Scope	Brazil  Argentina  Rest of South America

 

South America Commercial Vehicle Rental And Leasing Market Key Players: 

• Uber Technologies Inc. (San Francisco, California, United States)
• Lyft Inc. (San Francisco, California, United States)
• Didi Chuxing (Beijing, China)
• BMW AG (Munich, Germany)
• Aptiv PLC (Dublin, Ireland)
• Robert Bosch GmbH (Gerligen, Germany)
• IBM Corporation (Armonk, New York, United States)
• Gett Inc.(London, UK)
• ANI Technologies Private Limited, and TomTom International (Bangalore, India)