From 2013 to 2023, the production value of renting and leasing motor vehicles in Belgium showed significant fluctuations. It started at 3.54 billion Euros in 2013 and increased to 4.73 billion Euros in 2023. The most notable year-on-year increase occurred in 2015 with a 26.81% rise, while the most significant decline happened in 2018 at -10.29%. The five-year CAGR from 2019 to 2023 was 3.85%, depicting moderate growth. In the last two years, the sector experienced minor growth rates of 1.77% and 1.67%, indicating stability in recent years.
Forecasted data suggests that from 2024 to 2028, the industry will continue to grow steadily, reaching 5.08 billion Euros by 2028. The forecasted five-year CAGR is 1.11%, aligning with the annual growth of 5.65%.
Continuous technological advancements in vehicle leasing platforms.
Environmental regulations promoting electric vehicle leasing.
Shift in consumer behavior towards short-term leasing options.
