Global Truck Rental Market 2024-2028
The truck rental market is forecasted to grow by USD 40 bn during 2023-2028, accelerating at a CAGR of 8.83% during the forecast period. The report on the truck rental market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by mounting cost pressure on fleet operators, rise in global industrialization and urbanization, and stringent regulations to control emissions boosting truck rentals.
Technavio's truck rental market is segmented as below:
ByVehicle Type
- Light commercial vehicle
- Heavy commercial vehicle
ByType
- Commercial use
- Personal use
ByGeography
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies the emergence of truck platooning as one of the prime reasons driving the truck rental market growth during the next few years. Also, use of advanced analytics for telematics data to increase reliability of rental trucks and boost e-commerce across developing economies providing platform for truck rentals will lead to sizable demand in the market.
The report on the truck rental market covers the following areas:
- Truck rental market sizing
- Truck rental market forecast
- Truck rental market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading truck rental market vendors that include Advantage Car and Truck Rentals Ltd., Avis Budget Group Inc., EASY RENT truck and trailer GmbH, Element Fleet Management Corp., Enterprise Holdings Inc., Europcar Group UK Ltd., GoTranspose Inc., Hertz Global Holdings Inc., Imperial Logistics Ltd, Mercedes Benz Group AG, NL Commercials Holdings Ltd., PACCAR Inc., Pan Pacific Van and Truck Leasing Pte Ltd., Penske Automotive Group Inc., Ryder System Inc., SIXT SE, The Larson Group, TruckGuru LLP, TruKKer Holding, U Haul International Inc., and United Rentals Inc.. Also, the truck rental market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.