According to a new market report published by Lucintel, the future of the global truck rental market looks promising with opportunities in the heavy commercial truck and light commercial truck segments. The global truck rental market is expected to grow with a CAGR of xx% from 2021 to 2026. The major drivers for this market are mounting cost pressure on fleet operators, adoption of truck rentals, and reduction in transport cost.
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In this market, truck rental is used in full-service lease and finance lease. On the basis of comprehensive research, Lucintel forecasts that truck rental will remain the largest segment, and it is also expected to witness the highest growth over the forecast period due to the fuel cost and value added services added to it and its high preference in the global market.
Within the global truck rental market, the heavy commercial truck segment is expected to witness the highest growth over the forecast period due to the reduction in operational risks arising from seasonal transport demand and uncertainty of contracts.
North America is expected to remain the largest market and witness the highest growth over the forecast period due to the rising concern and awareness of reducing emissions has primary led to the increase in the car rental options, as truck rental systems significantly reduce the number of trucks on the road.
Emerging trends, which have a direct impact on the dynamics of the industry, include adoption of cost optimization strategies and creation of innovative logistics app. Daimler AG, PACCAR Leasing Company, Ryder Systems Inc, The Larson Group, Europcar, Fetch Truck Rental, Budget Truck Rental LLC, and Enterprise Holdings Inc are among the major suppliers of the truck rental market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global truck rental market by lease type, truck type, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Truck Rental Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global truck rental market by lease type, truck type, and region, as follows:
By Lease Type [Value ($ Million) from 2015 to 2026]:
Full-Service Lease
Finance Lease
By Truck Type [Value ($ Million) from 2015 to 2026]:
Heavy Commercial Trucks
Light Commercial Trucks
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers Market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.