Truck Rental in Canada
The Truck Rental industry in Canada performed well over the five years to 2018 as demand for industry services has grown steadily from both businesses and households. Businesses rent and lease trucks from industry companies for both the shipment of freight to downstream customers and the transport of goods and materials within and between work sites. As the economy improved, both freight shipping and general business activity have increased, in turn bolstering demand from business customers. Businesses have increased their demand for industry services during the current period as well, bolstered by overall macroeconomic growth and expanding corporate profit. Freight demand has grown nearly every year since 2013, leading more businesses to seek out industry vehicles. 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.
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 in Canada (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.
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