Truck Rental and Leasing Market Drivers, Trends, and Forecast by 2031

MARKET INTRODUCTION

Truck rental and leasing broadly include the set of professional and/or managed vehicle offered by numerous fleet owners for transportation of industrial or commercial goods. Presently a significant number of market players operate in the market that offer commercial rental and leasing related vehicles for wide range of commercial end-users. Some of the commonly available industry vertical utilizing truck rented or leased trucks are manufacturing, logistics provider, consumer goods, importers & exporters and government among others.

MARKET DYNAMICS

Factors such as growing demand for achieving optimal operational costs through downsizing non-critical assets or outsourcing the process has gained unprecedented adoption across various industry vertical. Subsequently, the number of rented or leased truck also has gained swift rise across different end-user industries thus, propelling the growth of the market during the coming years. Moreover, the cost of vehicle maintenance and fluctuating fuel prices also has boosted the growing popularity of truck rental market especially among commercial end-user base. Thus, the market is expected to provide significant lucrative business growth opportunities for the truck rental or leasing service provider during the forecast period.

MARKET SCOPE

The "Global Truck Rental & Leasing Market Analysis to 2031" is a specialized and in-depth study of the automotive & transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of truck rental & leasing market with detailed market segmentation by type, application and geography. The global truck rental & leasing market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading truck rental & leasing market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global truck rental & leasing market is segmented on the basis of type and application. Based on type, the market is segmented into light duty trucks (class 1 & class 2), medium duty trucks (class 3 - class 6), and heavy duty trucks (class 7 & class 8). Furthermore, by application the global truck rental & leasing market is broadly bifurcated into personal leasing and commercial leasing.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global truck rental & leasing market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The truck rental & leasing market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting truck rental & leasing market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the truck rental & leasing market in these regions.

MARKET PLAYERS

The reports cover key developments in the truck rental & leasing market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from truck rental & leasing market are anticipated to lucrative growth opportunities in the future with the rising demand for renewable energy in the global market. Below mentioned is the list of few companies engaged in the truck rental & leasing market.

The report also includes the profiles for some of the key truck rental & leasing companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

•  Budget Truck Rental, LLC
•  DeCarolis Truck Rental, Inc.
•  Kris Way Truck Leasing
•  Mendon Trucks Leasing and Rental
•  PACCAR Leasing Company
•  Penske Truck Leasing
•  Ryder System Inc.
•  TEC Equipment, Inc
•  The Larson Group
•  Thrifty Car and Truck Rental

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Truck Rental and Leasing Report Scope