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Description

Description

“The fleet services sector continues to develop innovative mobility solutions to meet market demand for reduced costs in a regulatory environment that penalises emissions. With recent taxation changes, transitioning to electric vehicles has become a cost-cutting opportunity that the sector’s expertise and intermediary position is primed to deliver. On the basis of a Brexit trade deal that avoids new trade barriers, the industry is set to be a leading sector in the UK’s transition to net-zero emissions.”
– Francesco Salau, B2B Analyst

This report looks at the following areas:

  • Taxation changes may not be enough to overcome charging anxiety
  • New policies are making EVs a cost-effective and future-proof option

What's included

What's included

Table of contents

Table of contents

  1. Overview

    • What you need to know
    • Executive Summary

        • The market
          • Growth continues despite dual headwinds of Brexit and diesel emissions scandal
            • Figure 1: UK fleet services market Value, 2015-19, (£ billion)
            • Figure 2: UK fleet services market forecast. 2020-24, (£ billion)
          • Companies and brands
            • Shift towards servitisation signifies the market’s maturity
              • What we think
              • Issues and Insights

                • Taxation changes may not be enough to overcome charging anxiety
                  • The facts
                    • The implications
                      • New policies are making EVs a cost-effective and future-proof option
                        • The facts
                          • The implications
                          • The Market – What You Need to Know

                            • Uncertainty over Brexit and diesel engines sustained market headwinds
                              • The ‘road to zero emissions’ offers a promising future with further government support expected
                                • Significant taxation changes will spur growth in AFVs and charging infrastructure
                                • Market Size

                                  • Low growth and investment sees the market slow for a third year
                                      • Figure 3: UK fleet services market, 2015-19, (£ billion)
                                  • Market Forecast

                                    • Demand for EVs will underpin future growth
                                      • Figure 4: UK fleet services market forecast, 2020-24 (£ billion)
                                  • Market Trends

                                    • AFV uptake continues to grow as infrastructure leaps forward in 2019
                                        • Figure 5: Types of AFV, % of all AFV car registrations, 2013-18
                                      • EV charging infrastructure
                                        • Figure 6: Number of public EV charging connectors, by charging speed, 2011-19, (units)
                                        • Figure 7: Number of EVs per charging connector, by region, 2019, (units)
                                      • CaaS
                                        • Acquisitions are crucial to market competition as the sector matures
                                            • Figure 8: Capital expenditure to total employment costs ratio for the renting and leasing of cars and light motor vehicles activities, 2008-18
                                        • Market Drivers

                                          • Registrations increase after sharp two-year decline
                                            • Figure 9: UK fleet car registrations, 2011-19, (number)
                                          • Emissions scandals have collapsed confidence in diesel
                                              • Figure 10: Newly registered cars by fuel type, % share of market, Great Britain, 2013-19
                                            • Company car tax changes are set to supercharge EV uptake
                                              • IFRS 16 changes present opportunities for long-term investment
                                              • Companies and Brands – What You Need to Know

                                                • Shifts from finance to services signifies the market’s future
                                                  • Fleet services’ intermediary role is energising partnerships to drive EV transition
                                                  • Industry Structure

                                                      • Changes in industry structure
                                                        • Figure 11: Changes in the industry structure of renting and leasing cars and light motor vehicles activities, 2015-19, (number of businesses and outlets)
                                                        • Figure 12: Capital expenditure to total employment costs ratio for the renting and leasing of cars and light motor vehicles activities, 2008-18
                                                      • Structure by employment
                                                        • Figure 13: Changes in the employment structure of the renting and leasing of cars and light motor vehicles activities, by employment band, 2018 and 2019, (number of outlets)
                                                        • Figure 14: Index of average total employment and total employment costs for the renting and leasing of cars and light motor vehicles activities, 2012-18
                                                      • Structure by turnover
                                                        • Figure 15: Changes in the turnover structure of renting and leasing cars and light motor vehicles activities, by turnover band, 2018 and 2019, (number of businesses)
                                                    • Company Profiles

                                                      • ALD Automotive Ltd
                                                          • Figure 16: Financial analysis of ALD Automotive Ltd, 2014-18, (£ million)
                                                        • Alphabet (GB) Limited
                                                            • Figure 17: Financial analysis of Alphabet (GB) Limited, 2014-18, (£ million)
                                                          • Arval UK Ltd
                                                              • Figure 18: Financial analysis of Arval UK Ltd, 2014-18, (£ million)
                                                            • LeasePlan UK Ltd
                                                                • Figure 19: Financial analysis of LeasePlan UK Ltd, 2014-18, (£ million)
                                                              • Lex Autolease Ltd
                                                                  • Figure 20: Financial analysis of Lex Autolease Ltd, 2014-18, (£ million)
                                                                • Mercedes-Benz Financial Services Ltd
                                                                    • Figure 21: Financial analysis of Mercedes-Benz Financial Services Ltd, 2014-18, (£ million)
                                                                • Appendix – Data Sources, Abbreviations and Supporting Information

                                                                    • Abbreviations
                                                                      • Methodology
                                                                      • Further Sources and Contacts

                                                                        • Trade associations
                                                                          • Trade magazines
                                                                            • Trade events

                                                                            This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

                                                                            • Market

                                                                              Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

                                                                            • Consumer

                                                                              Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

                                                                            • Brand/Company

                                                                              Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

                                                                            • Data

                                                                              Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

                                                                            Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted.

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