Truck rental Market Size is Expected to Expand at 10.32% CAGR, To Reach USD 214.57 billion by 2030
Research Reports
Jul 17, 2023
Market Overview
According to the latest industrial market reports, the worldwide truck rental market has been expected to increase at a CAGR of 10.32% with a value of USD 214.19 Billion over the estimated quarters of 2030. The worldwide truck rental market is being driven by increased demand for vehicles from various business verticals and fast population expansion.
The market for renting trucks was created by these factors, and economic growth is anticipated. A lack of service truck rental suppliers and covert operating issues are two other potential challenges faced by truck rental organisations. Information on each facet of the business is covered by the global market research. Experts in the truck rental sector provided growth projections and counsel to participants in the study on how to properly plan their expansion strategy. Due to factors including pricing restrictions and economic management techniques, the truck rental industry is improving. Also, the performance of the truck rental market over the last several years and in years past has been evaluated.
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Industrial News:
However, the expansion of the truck rental market may be limited by the lack of established corporate infrastructure and rising risk considerations. The study includes all of these facts, which will assist truck rental firms in strengthening their business plans and expanding their product line.
Key Companies in the Truck Rental market includes
- AMERCO (US)
- Penske Truck Leasing Co. L.P. (US)
- PACCAR Leasing Company (US)
- MAX Rental.lu AG (Luxembourg)
- Ryder System Inc. (US)
- United Rentals Inc. (US)
- Sixt SE (Germany)
- Almano (US)
- Avis Budget Group Inc. (US)
- Advantage Rent-a-car (US)
- Budget Car Rental (US)
- Europcar (UK)
Market Segmentation:
The truck rental market has been segmented into four sections: type, lease type, applications, and regional basis. In terms of type section, the global market has been segmented into three parts light-duty trucks, medium-duty trucks and heavy-duty trucks. The entire section has been classified into two parts finance full-service with the lease types. According to the application parts, the entire market has been segmented into two terms based on the lease and the service provider. On a regional basis, the entire market has been classified into five sections Asia-pacific, Europe, North America, South America and Middle East & Africa.
Regional Analysis:
Truck rental market size companies are located all over the world. The truck rental market study covers main regional markets in North America, Europe, Asia-Pacific (APAC), and the rest of the globe. Many organizations operate in the North American truck rental industry, including the United States, Canada, and Mexico.
Truck rental firms may be found in Germany, France, Spain, Italy, and the United Kingdom. The research also includes a thorough analysis of the truck rental industry in India, China, and Japan in the Asia-Pacific region. Analysts have also investigated the truck rental markets in the Middle East, Africa, and other places. The market research study includes a geographical overview of the truck rental industry. North America has the world’s largest truck rental market. Furthermore, nations such as Europe, the Pacific, Africa, and Central America correspond with global truck rental industry trends. Truck rental demand and supply are expected to rise in these nations over the forecast period of 2024. In these places, there are also several prospects to create truck rentals.
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