COG Financial Services is a large publicly listed asset finance business that operates through a large network of brokers and novated lease providers FleetNetwork and beCarWise. In the latest results presentation they outlined their plans for growth through several megatrends.
The two interesting trends that will develop over the next 20 years are population growth and asset electrification. The increasing population, which is predicted to reach 29 million by 2030 (12.2% increase), will drive the demand for more investment in infrastructure and the mobile assets needed to build it.
Decarbonisation which will deliver significant investments in electricity infrastructure including renewables and upgrades to poles, wires and substations. It will also see major changes to Australia’s vehicle fleet through electrification.
COG provided an estimate of the number of assets in Australia that will be replaced to reach the organisational and national goals of net zero emissions.
The list includes:
- 18,500,000 cars and light commercials
- 1,000,000 motorcycles
- 2,200 diesel automotives
- 10,000 mining trucks
- 11,000 general aviation aircraft
- 200,000 light trucks
- 370,000 heavy trucks
- 110,000 articulated trucks
- 100,000 buses
