Overview
Truck Rental Market is projected to be worth USD 140 billion by 2027, registering a CAGR of 10.% during the forecast period (2021 - 2027), The market was valued at USD 140 billion in 2020.
The truck rental market is anticipated to grow rapidly at a CAGR of 15.3% during the forecast period. The global truck rental market is driven by continuously increasing demand for trucks from different industry verticals and rapid population growth.
These factors have helped shape the truck rental market and are expected to boost the growth. Companies in the truck rental market could also face challenges such as hidden operational risks as well as lack of service truck rental providers. The details covered in the global market report cover all the aspects of the industry. truck rental market analysts have also shared growth projections in the report and have suggested truck rental market players to plan growth strategies accordingly.
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Market Segmentation
The global truck rental market has been segmented based on truck type and lease type. On the basis of truck type, the market for truck rental is segmented based on heavy commercial vehicle and light commercial vehicle. Additionally, the market on the basis of lease type, is segmented into finance lease and full-service lease.
Factors like cost cutting measures and cost efficient fleet solutions support the truck rental market growth. The performance of the truck rental market has also been studied for the past and current years. Additionally, the truck rental market report provides analysis of these segments. The truck rental market segmental analysis provided in the report offers major details about the truck rental market performance and future.
Regional Overview
Companies in the truck rental market are spread across the world. The truck rental market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The North American truck rental market has many companies across the United States, Canada, and Mexico. Europe has companies in the truck rental market across Germany, France, Spain, Italy, and the United Kingdom. A detailed analysis of the truck rental market across India, China, and Japan in the Asia-Pacific region is also presented in the report. The truck rental market of the Middle East, Africa, and other regions has also been studied by analysts. The regional analysis of the truck rental market can be found in the market research report.
Competitive Landscape
The truck rental market is supported by innovative rental schemes as well as adon services. The population growth around the world and increasing demand of truck rental market based services and products also support the market growth. However, the truck rental market growth can be affected due to lack of organized business infrastructure along with increasing risk factors. The report covers all such details which will help companies in the truck rental market to strengthen their business plan and improve their product portfolio. The truck rental market research report also provides company profiles of major companies. The company profiles of many organizations operating in the truck rental market report highlights crucial details like company size, revenue growth, and details of mergers and acquisitions taking place in the truck rental market. New companies and established businesses can plan their strategies based on this data provided in the truck rental market research report.
Industry News
The former Donzell's Flower & Garden Center will be converted into a truck rental location at 937 East Waterloo Lane. According to SVN Commercial Real Estate Company, which brokered the sale, Harrisburg, Pa.-based Penske Truck Leasing bought the 10-acre property for $950,000. After 66 years of operation, Donzell's family-owned firm liquidated and closed in 2019. SVN said in a press release that the Penske site would hold used-truck trading, truck leases, and truck leasing with leased operation.
TABLE OF CONTENTS
- Executive Summary
- Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.1. Definition
2.2.2. Research Objective
2.2.3. Assumptions
2.2.4. Limitations
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Model
- Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat Of New Entrants
3.1.2. Bargaining Power Of Buyers
3.1.3. Threat Of Substitutes
3.1.4. Segment Rivalry
3.1.5. Bargaining Power Of Buyers
3.2. Value Chain/Supply Chain Analysis
- Market Dynamics
4.1. Introduction
4.2. Market Drivers
Continued………
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