
Truck Rental and Leasing Market Growth Analysis - Forecast Trends and Outlook (2025-2034)
Description
The global truck rental and leasing market size reached approximately USD 128.96 Billion in 2024. The market is estimated to grow at a CAGR of 7.30% in the forecast period of 2025-2034, reaching a value of around USD 260.89 Billion by 2034.
Key Trends in the Market
Truck rental and leasing refers to renting and leasing a truck for a short or long frame of time depending upon the requirement. Renting a truck is a great option for customers who are looking for short-term usage, whereas leasing is preferred by customers who want a truck for long-term usage without the hassle of purchasing.
The EMR’s report titled “Global Truck Rental and Leasing Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Truck Type:
Light duty trucks occupy a significant portion of the truck rental and leasing market share, due to the growing demand for transportation of personal goods. These trucks are readily deployed during the house relocation process to offer smooth transport of household items. With the rapid rise of the e-commerce sector, the requirement for delivery services has seen an upward trajectory, surging the demand for light-duty trucks.
Subsequently, heavy-duty trucks are anticipated to gain robust growth in the foreseeable future, owing to their growing demand from the construction and mining sectors.
Market Share by Region
As per the truck rental and leasing market analysis, the Asia Pacific accounts for a substantial share of the global market, owing to the growth of the construction sector, fuelling the requirement for truck services for the transportation of goods. The growing urbanisation in developing economies also surges the demand for goods transportation and provides lucrative opportunities for the market.
Additionally, North America is expected to witness sizeable growth in the coming years, due to the increased utilisation of truck rental services for business-related transportation by SMEs.
Competitive Landscape
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the truck rental and leasing market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
Volvo AB
Volvo AB, established in 1927 and based in Gothenburg, Sweden, is a provider of trucks, buses, and other transportation services. The company is incorporating electrification in the transportation and mobility sectors to reduce its carbon footprint.
Penske Corporation
Penske Corporation is a transportation company, founded in 1969 and headquartered in Michigan, the United States. The company offers truck rental, leasing, logistics, and other transportation services to its customers.
United Rentals, Inc.
United Rentals, Inc., incorporated in 1997, is an equipment rental company, with its headquarters in Connecticut, the United States. Its product portfolio includes aerial work platforms, forklifts, trucks and trailers, and earthmoving equipment, among others.
Other truck rental and leasing market players include Ryder System, Inc., Macs Truck (Rental Leasing) Co. Ltd., Enterprise Holdings, Inc., Daimler Truck Holding AG, Herc Holdings Inc., Kris-Way Truck Leasing, Inc., and TIP Group, among others.
Key Trends in the Market
Truck rental and leasing refers to renting and leasing a truck for a short or long frame of time depending upon the requirement. Renting a truck is a great option for customers who are looking for short-term usage, whereas leasing is preferred by customers who want a truck for long-term usage without the hassle of purchasing.
- The growing availability of flexible leasing options for trucks, which can be customised depending upon the requirement of a customer to offer an economically viable solution, is one of the key truck rental and leasing market trends.
- Due to the rise in environmental pollution, several truck providers are offering leasing and rental services for electric trucks that boast zero carbon emissions and lower maintenance and repair costs compared to conventional trucks.
- Research activities by several market players aimed at developing autonomous and semi-automated trucks to improve supply chain efficiency, combat the shortage of delivery trucks, and enhance the delivery speed also contribute to the truck rental and leasing market growth. These trucks are also equipped with driver control, road sensors, collision avoidance systems, and cameras, among others, to facilitate efficient transportation of goods.
The EMR’s report titled “Global Truck Rental and Leasing Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Truck Type:
- Light Duty
- Medium Duty
- Heavy Duty
- ICE
- Electric
- Short Term
- Long Term
- Commercial Customers
- Non-Commercial Customers
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Light duty trucks occupy a significant portion of the truck rental and leasing market share, due to the growing demand for transportation of personal goods. These trucks are readily deployed during the house relocation process to offer smooth transport of household items. With the rapid rise of the e-commerce sector, the requirement for delivery services has seen an upward trajectory, surging the demand for light-duty trucks.
Subsequently, heavy-duty trucks are anticipated to gain robust growth in the foreseeable future, owing to their growing demand from the construction and mining sectors.
Market Share by Region
As per the truck rental and leasing market analysis, the Asia Pacific accounts for a substantial share of the global market, owing to the growth of the construction sector, fuelling the requirement for truck services for the transportation of goods. The growing urbanisation in developing economies also surges the demand for goods transportation and provides lucrative opportunities for the market.
Additionally, North America is expected to witness sizeable growth in the coming years, due to the increased utilisation of truck rental services for business-related transportation by SMEs.
Competitive Landscape
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the truck rental and leasing market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
Volvo AB
Volvo AB, established in 1927 and based in Gothenburg, Sweden, is a provider of trucks, buses, and other transportation services. The company is incorporating electrification in the transportation and mobility sectors to reduce its carbon footprint.
Penske Corporation
Penske Corporation is a transportation company, founded in 1969 and headquartered in Michigan, the United States. The company offers truck rental, leasing, logistics, and other transportation services to its customers.
United Rentals, Inc.
United Rentals, Inc., incorporated in 1997, is an equipment rental company, with its headquarters in Connecticut, the United States. Its product portfolio includes aerial work platforms, forklifts, trucks and trailers, and earthmoving equipment, among others.
Other truck rental and leasing market players include Ryder System, Inc., Macs Truck (Rental Leasing) Co. Ltd., Enterprise Holdings, Inc., Daimler Truck Holding AG, Herc Holdings Inc., Kris-Way Truck Leasing, Inc., and TIP Group, among others.
Table of Contents
179 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Global Truck Rental and Leasing Market Analysis
- 5.1 Key Industry Highlights
- 5.2 Global Truck Rental and Leasing Historical Market (2018-2024)
- 5.3 Global Truck Rental and Leasing Market Forecast (2025-2034)
- 5.4 Global Truck Rental and Leasing Market by Truck Type
- 5.4.1 Light Duty
- 5.4.1.1 Historical Trend (2018-2024)
- 5.4.1.2 Forecast Trend (2025-2034)
- 5.4.2 Medium Duty
- 5.4.2.1 Historical Trend (2018-2024)
- 5.4.2.2 Forecast Trend (2025-2034)
- 5.4.3 Heavy Duty
- 5.4.3.1 Historical Trend (2018-2024)
- 5.4.3.2 Forecast Trend (2025-2034)
- 5.5 Global Truck Rental and Leasing Market by Propulsion
- 5.5.1 ICE
- 5.5.1.1 Historical Trend (2018-2024)
- 5.5.1.2 Forecast Trend (2025-2034)
- 5.5.2 Electric
- 5.5.2.1 Historical Trend (2018-2024)
- 5.5.2.2 Forecast Trend (2025-2034)
- 5.6 Global Truck Rental and Leasing Market by Duration
- 5.6.1 Short Term
- 5.6.1.1 Historical Trend (2018-2024)
- 5.6.1.2 Forecast Trend (2025-2034)
- 5.6.2 Long Term
- 5.6.2.1 Historical Trend (2018-2024)
- 5.6.2.2 Forecast Trend (2025-2034)
- 5.7 Global Truck Rental and Leasing Market by End User
- 5.7.1 Commercial Customers
- 5.7.1.1 Historical Trend (2018-2024)
- 5.7.1.2 Forecast Trend (2025-2034)
- 5.7.2 Non-Commercial Customers
- 5.7.2.1 Historical Trend (2018-2024)
- 5.7.2.2 Forecast Trend (2025-2034)
- 5.8 Global Truck Rental and Leasing Market by Region
- 5.8.1 North America
- 5.8.1.1 Historical Trend (2018-2024)
- 5.8.1.2 Forecast Trend (2025-2034)
- 5.8.2 Europe
- 5.8.2.1 Historical Trend (2018-2024)
- 5.8.2.2 Forecast Trend (2025-2034)
- 5.8.3 Asia Pacific
- 5.8.3.1 Historical Trend (2018-2024)
- 5.8.3.2 Forecast Trend (2025-2034)
- 5.8.4 Latin America
- 5.8.4.1 Historical Trend (2018-2024)
- 5.8.4.2 Forecast Trend (2025-2034)
- 5.8.5 Middle East and Africa
- 5.8.5.1 Historical Trend (2018-2024)
- 5.8.5.2 Forecast Trend (2025-2034)
- 6 North America Truck Rental and Leasing Market Analysis
- 6.1 United States of America
- 6.1.1 Historical Trend (2018-2024)
- 6.1.2 Forecast Trend (2025-2034)
- 6.2 Canada
- 6.2.1 Historical Trend (2018-2024)
- 6.2.2 Forecast Trend (2025-2034)
- 7 Europe Truck Rental and Leasing Market Analysis
- 7.1 United Kingdom
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Germany
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 France
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 7.4 Italy
- 7.4.1 Historical Trend (2018-2024)
- 7.4.2 Forecast Trend (2025-2034)
- 7.5 Others
- 8 Asia Pacific Truck Rental and Leasing Market Analysis
- 8.1 China
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Japan
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 India
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 8.4 ASEAN
- 8.4.1 Historical Trend (2018-2024)
- 8.4.2 Forecast Trend (2025-2034)
- 8.5 Australia
- 8.5.1 Historical Trend (2018-2024)
- 8.5.2 Forecast Trend (2025-2034)
- 8.6 Others
- 9 Latin America Truck Rental and Leasing Market Analysis
- 9.1 Brazil
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Argentina
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 Mexico
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 9.4 Others
- 10 Middle East and Africa Truck Rental and Leasing Market Analysis
- 10.1 Saudi Arabia
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 United Arab Emirates
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 10.3 Nigeria
- 10.3.1 Historical Trend (2018-2024)
- 10.3.2 Forecast Trend (2025-2034)
- 10.4 South Africa
- 10.4.1 Historical Trend (2018-2024)
- 10.4.2 Forecast Trend (2025-2034)
- 10.5 Others
- 11 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators for Demand
- 11.4 Key Indicators for Price
- 12 Competitive Landscape
- 12.1 Supplier Selection
- 12.2 Key Global Players
- 12.3 Key Regional Players
- 12.4 Key Player Strategies
- 12.5 Company Profiles
- 12.5.1 Volvo AB
- 12.5.1.1 Company Overview
- 12.5.1.2 Product Portfolio
- 12.5.1.3 Demographic Reach and Achievements
- 12.5.1.4 Certifications
- 12.5.2 Penske Corporation
- 12.5.2.1 Company Overview
- 12.5.2.2 Product Portfolio
- 12.5.2.3 Demographic Reach and Achievements
- 12.5.2.4 Certifications
- 12.5.3 United Rentals, Inc.
- 12.5.3.1 Company Overview
- 12.5.3.2 Product Portfolio
- 12.5.3.3 Demographic Reach and Achievements
- 12.5.3.4 Certifications
- 12.5.4 Ryder System, Inc.
- 12.5.4.1 Company Overview
- 12.5.4.2 Product Portfolio
- 12.5.4.3 Demographic Reach and Achievements
- 12.5.4.4 Certifications
- 12.5.5 Macs Truck (Rental Leasing) Co. Ltd.
- 12.5.5.1 Company Overview
- 12.5.5.2 Product Portfolio
- 12.5.5.3 Demographic Reach and Achievements
- 12.5.5.4 Certifications
- 12.5.6 Enterprise Holdings, Inc.
- 12.5.6.1 Company Overview
- 12.5.6.2 Product Portfolio
- 12.5.6.3 Demographic Reach and Achievements
- 12.5.6.4 Certifications
- 12.5.7 Daimler Truck Holding AG
- 12.5.7.1 Company Overview
- 12.5.7.2 Product Portfolio
- 12.5.7.3 Demographic Reach and Achievements
- 12.5.7.4 Certifications
- 12.5.8 Herc Holdings Inc.
- 12.5.8.1 Company Overview
- 12.5.8.2 Product Portfolio
- 12.5.8.3 Demographic Reach and Achievements
- 12.5.8.4 Certifications
- 12.5.9 Kris-Way Truck Leasing, Inc.
- 12.5.9.1 Company Overview
- 12.5.9.2 Product Portfolio
- 12.5.9.3 Demographic Reach and Achievements
- 12.5.9.4 Certifications
- 12.5.10 TIP Group
- 12.5.10.1 Company Overview
- 12.5.10.2 Product Portfolio
- 12.5.10.3 Demographic Reach and Achievements
- 12.5.10.4 Certifications
- 12.5.11 Others
Pricing
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