Dublin, July 31, 2023 (GLOBE NEWSWIRE) -- The "Global Truck Rental Market 2023-2027" report has been added to ResearchAndMarkets.com's offering.
The truck rental market is forecast to witness remarkable growth in the coming years, with a projected increase of USD 28.67 billion during the period of 2022 to 2027. With an accelerated Compound Annual Growth Rate (CAGR) of 7%, the market is expected to flourish, catering to the escalating demand for rental trucks across various industries.
The comprehensive report on the truck rental market provides valuable insights into industry trends, growth drivers, challenges, and vendor analysis covering around 25 leading companies. A thorough analysis of the current market scenario, coupled with an examination of the latest trends and drivers, offers a holistic view of the market landscape.
Key factors driving the market growth include mounting cost pressure on fleet operators, the surge in global industrialization and urbanization, and the enforcement of stringent regulations to control emissions, boosting the need for truck rentals.
The truck rental market is categorized based on vehicle type into light commercial vehicle and heavy commercial vehicle, while the rental types are segregated into commercial use and personal use. Geographically, the market spans across North America, Europe, APAC, South America, and the Middle East and Africa.
Among the emerging trends, the report highlights the growing prominence of truck platooning, offering enhanced efficiency and cost-effectiveness in logistics operations. Furthermore, the adoption of advanced analytics for telematics data is seen to increase the reliability of rental trucks, attracting businesses to opt for rental services. Additionally, the thriving e-commerce sector in developing economies is providing a strong platform for truck rentals, leading to substantial market demand.
The report offers an in-depth analysis of several key players in the truck rental market, including:
- Advantage Car and Truck Rentals Ltd.
- Avis Budget Group Inc.
- EASY RENT truck and trailer GmbH
- Element Fleet Management Corp.
- Enterprise Holdings Inc.
- Europcar Group UK Ltd.
- GoTranspose Inc.
- Hertz Global Holdings Inc.
- Imperial Logistics Ltd.
- Mercedes Benz Group AG
- NL Commercials Holdings Ltd.
- PACCAR Inc.
- Pan Pacific Van and Truck Leasing Pte Ltd.
- Penske Automotive Group Inc.
- Ryder System Inc.
- SIXT SE
- The Larson Group
- TruckGuru LLP
- TruKKer Holding
- U Haul International Inc.
- United Rentals Inc.
For more information about this report visit https://www.researchandmarkets.com/r/5wv8cy
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