The number of enterprises in the UK's motor vehicle renting and leasing sector is forecasted to grow modestly from 4.56 thousand in 2024 to 4.72 thousand in 2028. This steady increase represents a compound annual growth rate (CAGR) of approximately 0.87% over the five-year period. While this growth is relatively modest, it indicates a positive upwards trend following the 2023 baseline.
Future trends to watch for include:
- The impact of technological advancements, such as electric and autonomous vehicles, on leasing practices.
- Regulatory changes and environmental policies affecting fleet compositions.
- Economic conditions influencing demand for leased vehicles versus ownership.
- Consumer preferences shifting towards flexible leasing options amid changing mobility needs.
