The Truck Rental industry has grown moderately over the past five years, despite a volatile operating environment. Housing starts have fluctuated strongly, leading to volatility in the household market. However, residential construction values have risen, denoting overall growth in the housing sector. Additionally, per capita disposable income has grown, meaning more individuals planning to move have opted for the additional expense of a moving truck. Moving forward, increasing emissions and fuel-efficiency regulations are anticipated to drive demand from the commercial market. Regulation aimed at reducing emissions from long-haul tractor-trailers and large pickup trucks will require downstream customers to either purchase or lease new vehicles. IBISWorld expects that trucking companies and fleet operators will opt to lease their vehicles from industry operators as they strive for more stability in their cost structures.
This industry primarily rents or leases trucks, truck tractors, utility trailers, semitrailers, recreational vehicles (RVs) and buses without drivers. Vehicle retailing activity is excluded from this industry. Companies that rent or lease industrial trucks and equipment, such as forklifts, are covered in the Industrial Equipment Rental and Leasing industry (IBISWorld report 53249CA).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.