Truck Rental and Leasing Market Dynamics 2021-2031
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.
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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.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Truck Rental And Leasing Market - By Type
1.3.2 Truck Rental And Leasing Market - By Application
1.3.3 Truck Rental And Leasing Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. TRUCK RENTAL AND LEASING MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. TRUCK RENTAL AND LEASING MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. TRUCK RENTAL AND LEASING MARKET - GLOBAL MARKET ANALYSIS
6.1. TRUCK RENTAL AND LEASING - GLOBAL MARKET OVERVIEW
6.2. TRUCK RENTAL AND LEASING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. TRUCK RENTAL AND LEASING MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. LIGHT DUTY TRUCKS (CLASS 1 AND CLASS 2)
7.3.1. Overview
7.3.2. Light Duty Trucks (Class 1 and Class 2) Market Forecast and Analysis
7.4. MEDIUM DUTY TRUCKS (CLASS 3-CLASS 6)
7.4.1. Overview
7.4.2. Medium Duty Trucks (Class 3-Class 6) Market Forecast and Analysis
7.5. HEAVY DUTY TRUCKS (CLASS 7 AND CLASS 8)
7.5.1. Overview
7.5.2. Heavy Duty Trucks (Class 7 and Class 8) Market Forecast and Analysis
8. TRUCK RENTAL AND LEASING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. PERSONAL LEASING
8.3.1. Overview
8.3.2. Personal Leasing Market Forecast and Analysis
8.4. COMMERCIAL LEASING
8.4.1. Overview
8.4.2. Commercial Leasing Market Forecast and Analysis
9. TRUCK RENTAL AND LEASING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Truck Rental And Leasing Market Overview
9.1.2 North America Truck Rental And Leasing Market Forecasts and Analysis
9.1.3 North America Truck Rental And Leasing Market Forecasts and Analysis - By Type
9.1.4 North America Truck Rental And Leasing Market Forecasts and Analysis - By Application
9.1.5 North America Truck Rental And Leasing Market Forecasts and Analysis - By Countries
9.1.5.1 United States Truck Rental And Leasing Market
9.1.5.1.1 United States Truck Rental And Leasing Market by Type
9.1.5.1.2 United States Truck Rental And Leasing Market by Application
9.1.5.2 Canada Truck Rental And Leasing Market
9.1.5.2.1 Canada Truck Rental And Leasing Market by Type
9.1.5.2.2 Canada Truck Rental And Leasing Market by Application
9.1.5.3 Mexico Truck Rental And Leasing Market
9.1.5.3.1 Mexico Truck Rental And Leasing Market by Type
9.1.5.3.2 Mexico Truck Rental And Leasing Market by Application
9.2. EUROPE
9.2.1 Europe Truck Rental And Leasing Market Overview
9.2.2 Europe Truck Rental And Leasing Market Forecasts and Analysis
9.2.3 Europe Truck Rental And Leasing Market Forecasts and Analysis - By Type
9.2.4 Europe Truck Rental And Leasing Market Forecasts and Analysis - By Application
9.2.5 Europe Truck Rental And Leasing Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Truck Rental And Leasing Market
9.2.5.1.1 Germany Truck Rental And Leasing Market by Type
9.2.5.1.2 Germany Truck Rental And Leasing Market by Application
9.2.5.2 France Truck Rental And Leasing Market
9.2.5.2.1 France Truck Rental And Leasing Market by Type
9.2.5.2.2 France Truck Rental And Leasing Market by Application
9.2.5.3 Italy Truck Rental And Leasing Market
9.2.5.3.1 Italy Truck Rental And Leasing Market by Type
9.2.5.3.2 Italy Truck Rental And Leasing Market by Application
9.2.5.4 United Kingdom Truck Rental And Leasing Market
9.2.5.4.1 United Kingdom Truck Rental And Leasing Market by Type
9.2.5.4.2 United Kingdom Truck Rental And Leasing Market by Application
9.2.5.5 Russia Truck Rental And Leasing Market
9.2.5.5.1 Russia Truck Rental And Leasing Market by Type
9.2.5.5.2 Russia Truck Rental And Leasing Market by Application
9.2.5.6 Rest of Europe Truck Rental And Leasing Market
9.2.5.6.1 Rest of Europe Truck Rental And Leasing Market by Type
9.2.5.6.2 Rest of Europe Truck Rental And Leasing Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Truck Rental And Leasing Market Overview
9.3.2 Asia-Pacific Truck Rental And Leasing Market Forecasts and Analysis
9.3.3 Asia-Pacific Truck Rental And Leasing Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Truck Rental And Leasing Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Truck Rental And Leasing Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Truck Rental And Leasing Market
9.3.5.1.1 Australia Truck Rental And Leasing Market by Type
9.3.5.1.2 Australia Truck Rental And Leasing Market by Application
9.3.5.2 China Truck Rental And Leasing Market
9.3.5.2.1 China Truck Rental And Leasing Market by Type
9.3.5.2.2 China Truck Rental And Leasing Market by Application
9.3.5.3 India Truck Rental And Leasing Market
9.3.5.3.1 India Truck Rental And Leasing Market by Type
9.3.5.3.2 India Truck Rental And Leasing Market by Application
9.3.5.4 Japan Truck Rental And Leasing Market
9.3.5.4.1 Japan Truck Rental And Leasing Market by Type
9.3.5.4.2 Japan Truck Rental And Leasing Market by Application
9.3.5.5 South Korea Truck Rental And Leasing Market
9.3.5.5.1 South Korea Truck Rental And Leasing Market by Type
9.3.5.5.2 South Korea Truck Rental And Leasing Market by Application
9.3.5.6 Rest of Asia-Pacific Truck Rental And Leasing Market
9.3.5.6.1 Rest of Asia-Pacific Truck Rental And Leasing Market by Type
9.3.5.6.2 Rest of Asia-Pacific Truck Rental And Leasing Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Truck Rental And Leasing Market Overview
9.4.2 Middle East and Africa Truck Rental And Leasing Market Forecasts and Analysis
9.4.3 Middle East and Africa Truck Rental And Leasing Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Truck Rental And Leasing Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Truck Rental And Leasing Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Truck Rental And Leasing Market
9.4.5.1.1 South Africa Truck Rental And Leasing Market by Type
9.4.5.1.2 South Africa Truck Rental And Leasing Market by Application
9.4.5.2 Saudi Arabia Truck Rental And Leasing Market
9.4.5.2.1 Saudi Arabia Truck Rental And Leasing Market by Type
9.4.5.2.2 Saudi Arabia Truck Rental And Leasing Market by Application
9.4.5.3 U.A.E Truck Rental And Leasing Market
9.4.5.3.1 U.A.E Truck Rental And Leasing Market by Type
9.4.5.3.2 U.A.E Truck Rental And Leasing Market by Application
9.4.5.4 Rest of Middle East and Africa Truck Rental And Leasing Market
9.4.5.4.1 Rest of Middle East and Africa Truck Rental And Leasing Market by Type
9.4.5.4.2 Rest of Middle East and Africa Truck Rental And Leasing Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Truck Rental And Leasing Market Overview
9.5.2 South and Central America Truck Rental And Leasing Market Forecasts and Analysis
9.5.3 South and Central America Truck Rental And Leasing Market Forecasts and Analysis - By Type
9.5.4 South and Central America Truck Rental And Leasing Market Forecasts and Analysis - By Application
9.5.5 South and Central America Truck Rental And Leasing Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Truck Rental And Leasing Market
9.5.5.1.1 Brazil Truck Rental And Leasing Market by Type
9.5.5.1.2 Brazil Truck Rental And Leasing Market by Application
9.5.5.2 Argentina Truck Rental And Leasing Market
9.5.5.2.1 Argentina Truck Rental And Leasing Market by Type
9.5.5.2.2 Argentina Truck Rental And Leasing Market by Application
9.5.5.3 Rest of South and Central America Truck Rental And Leasing Market
9.5.5.3.1 Rest of South and Central America Truck Rental And Leasing Market by Type
9.5.5.3.2 Rest of South and Central America Truck Rental And Leasing Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. TRUCK RENTAL AND LEASING MARKET, KEY COMPANY PROFILES
11.1. BUDGET TRUCK RENTAL, LLC
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. DECAROLIS TRUCK RENTAL, INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. KRIS WAY TRUCK LEASING
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. MENDON TRUCKS LEASING AND RENTAL.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. PACCAR LEASING COMPANY
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. PENSKE TRUCK LEASING
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. RYDER SYSTEM INC.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. TEC EQUIPMENT, INC
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. THE LARSON GROUP
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. THRIFTY CAR AND TRUCK RENTAL
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Budget Truck Rental, LLC
2. DeCarolis Truck Rental, Inc.
3. Kris Way Truck Leasing
4. Mendon Trucks Leasing and Rental.
5. PACCAR Leasing Company
6. Penske Truck Leasing
7. Ryder System Inc.
8. TEC Equipment, Inc
9. The Larson Group
10. Thrifty Car and Truck Rental
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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