Global Truck Rental Market is valued approximately at USD 72.58 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 9.86% over the forecast period 2020-2027. Truck rental requires the hire and lease of large commercial trucks or light commercial vehicles. Truck rental is mainly used by individuals, businesses and agencies who do not own their own truck fleets but still participate in freight transport as a business. Constantly growing demand for trucks from the logistics, industrial and construction sectors and rapid population growth are some of the factors driving the global truck rental market. Truck rental lowers the level of vehicle emissions by reducing the number of sales of owned vehicles as well as of road vehicles. Such factors foster the growth of the truck rental industry at an exponential pace. In addition, fleet owners are actively working on cost-cutting. steps to provide cost-effective fleet solutions. As a result, fleet owners are taking the option of renting trucks to dramatically reduce transport costs in order to handle costs effectively. Leasing or renting a truck eliminates operating risks resulting from seasonal demand for transport and the volatility of contracts driving the truck rental industry all over the world. In addition, the renting of a truck is an efficient and extremely cost-effective alternative compared to the purchase of a loan and a truck, since it provides the owner with a mobility option without having to incur the costs of ownership of the vehicle. These are the factors expected to fuel the global truck rental market in the forecast period. In addition, the leasing of a full-service truck removes financial responsibility for repair, service and replacement of vehicles and drives the global truck rental demand over the forecast period. However, the lack of service truck rental service providers in developing and underdeveloped regions is expected to impede market growth during the forecast period.
The regional analysis of global Truck Rental Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. The North American truck rental industry held the largest market share due to the involvement of companies such as AMERCO, PACCAR Leasing Company, Penske Truck Leasing Co., L.P., Ryder System, Inc. and Avis Budget Group Inc.
Major market player included in this report are:
PACCAR Leasing Company
Ryder System Inc.
MAX Rental.lu AG
The Larson Group
Fetch Truck Rental
Imperial Truck Rental
Element Fleet Management Corp.
U-Hual International Inc.
Budget Truck Rental LLC
Enterprise Holdings Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Lease Type:
By Truck Capacity:
Class 6 and Below
Class 7 and Above
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Truck Rental Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Truck Rental Market, by Region, 2018-2027 (USD Billion)
1.2.2. Truck Rental Market, by Lease Type, 2018-2027 (USD Billion)
1.2.3. Truck Rental Market, by Truck Capacity, 2018-2027 (USD Billion)
1.2.4. Truck Rental Market, by Application, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Truck Rental Market Definition & Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Truck Rental Market Dynamics
3.1. Truck Rental Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Truck Rental Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Truck Rental Market, by Lease Type
5.1. Market Snapshot
5.2. Global Truck Rental Market by Lease Type, Performance – Potential Analysis
5.3. Global Truck Rental Market Estimates & Forecasts by Lease Type, 2017-2027 (USD Billion)
5.4. Truck Rental Market, Sub Segment Analysis
5.4.1. Finance Lease
5.4.2. Full-Service Lease
Chapter 6. Global Truck Rental Market, by Truck Capacity
6.1. Market Snapshot
6.2. Global Truck Rental Market by Truck Capacity, Performance – Potential Analysis
6.3. Global Truck Rental Market Estimates & Forecasts by Truck Capacity, 2017-2027 (USD Billion)
6.4. Truck Rental Market, Sub Segment Analysis
6.4.1. Class 6 and Below
6.4.2. Class 7 and Above
Chapter 7. Global Truck Rental Market, by Application
7.1. Market Snapshot
7.2. Global Truck Rental Market by Application, Performance – Potential Analysis
7.3. Global Truck Rental Market Estimates & Forecasts by Application, 2017-2027 (USD Billion)
7.3.1. Commercial Customers
7.3.2. Non-commercial Customers
Chapter 8. Global Truck Rental Market, Regional Analysis
8.1. Truck Rental Market, Regional Market Snapshot
8.2. North America Truck Rental Market
8.2.1. U.S. Truck Rental Market
220.127.116.11. Lease Type breakdown estimates & forecasts, 2017-2027
18.104.22.168. Truck Capacity breakdown estimates & forecasts, 2017-2027
22.214.171.124. Application breakdown estimates & forecasts, 2017-2027
8.2.2. Canada Truck Rental Market
8.3. Europe Truck Rental Market Snapshot
8.3.1. U.K. Truck Rental Market
8.3.2. Germany Truck Rental Market
8.3.3. France Truck Rental Market
8.3.4. Spain Truck Rental Market
8.3.5. Italy Truck Rental Market
8.3.6. Rest of Europe Truck Rental Market
8.4. Asia-Pacific Truck Rental Market Snapshot
8.4.1. China Truck Rental Market
8.4.2. India Truck Rental Market
8.4.3. Japan Truck Rental Market
8.4.4. Australia Truck Rental Market
8.4.5. South Korea Truck Rental Market
8.4.6. Rest of Asia Pacific Truck Rental Market
8.5. Latin America Truck Rental Market Snapshot
8.5.1. Brazil Truck Rental Market
8.5.2. Mexico Truck Rental Market
8.6. Rest of The World Truck Rental Market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Daimler AG
126.96.36.199. Key Information
188.8.131.52. Financial (Subject to Data Availability)
184.108.40.206. Industry Summary
220.127.116.11. Recent Developments
9.2.2. PACCAR Leasing Company
9.2.3. Ryder System Inc.
9.2.4. MAX Rental.lu AG
9.2.5. The Larson Group
9.2.8. Fetch Truck Rental
9.2.9. Imperial Truck Rental
9.2.10. Element Fleet Management Corp.
9.2.11. U-Hual International Inc.
9.2.12. Budget Truck Rental LLC
9.2.13. Enterprise Holdings Inc.
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.3. Market Estimation
10.2. Research Attributes
10.3. Research Assumption
The study of the market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. Our analysts contact company executives, managers, key opinion leaders, and industry experts. This enables our analyst to derive the closest possible figures without any major deviations in the actual number.
Primary Research Sources:
- Interview conducted with raw material suppliers & manufacturers.
- Interview conducted with manufacturers, suppliers & distributors, researchers, & representatives of regulatory bodies.
- Interview conducted with market players, industry experts, & independent consultants.
- Secondary Research Sources:
- Purchased Database: D&B Hoovers, Bloomberg, Inc., Business Information Industry Association, NAICS Association.
- Internal Database: White papers, Certified Publications, Articles by Recognized Authors and Regulatory Bodies.
- Government Databases: Food and Agriculture Organization (FAO), European Industrial Hemp Association (EIHA), World Health Organization (WHO), Food and Drug Administration (FDA), International Telecommunication Union (ITU), United States Department of Agriculture (USDA), International organization of Motor Vehicle Manufacturers (OICA).