Dublin, April 05, 2023 (GLOBE NEWSWIRE) -- The "United Kingdom Truck Leasing And Rental Market By Type, By Truck Type, By Booking, By End Use Industry, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
United Kingdom truck leasing and rental market is anticipated to register growth with an impressive CAGR in the forecast period, 2023-2027.
The market growth can be attributed to growing demands from the end-use industries. Expanding construction industry and growing demands from the retail industry will also drive the growth of the United Kingdom truck leasing and rental market in the upcoming five years.
Rising demands for rental services and leasing services due to affordable services in the country will also facilitate the growth of the United Kingdom truck leasing and rental market in the next five years.
COVID-19 Impact on the Market
Transportation services were largely affected due to the pandemic situation. Strict regulations by the government and a halt at the distribution channels affected the demands for truck leasing and rental services, thereby affecting the market growth. While the complete lockdown was observed, many small and medium-sized businesses were shut down completely, and transportation was not facilitated, thus affecting the market growth drastically.
The lack of sanitization regulation pre-pandemic times created a threat for viral infections to spread uncontrollably, and thus the market suffered huge losses. Although with recent relaxation, strict follow-up of the regulation and regular sanitizations of the products and trucks would reinstate the previous growth of the United Kingdom truck leasing and rental market in the future five years.
Increased Truck Production Promises Future Growth
Higher sales of commercial vehicles and expansion of the transportation industry are anticipated to drive the growth of the United Kingdom truck leasing and rental market in the upcoming five years. In the United Kingdom, around 396.91 thousand commercial vehicles were sold in the year 2021.
Growing demands for commercial vehicles have aided truck production along with growing imports of trucks and other commercial vehicles to satisfy the growing demands. Optimal operational expenses and the outsourcing of truck rental will further boost the growth of the United Kingdom truck leasing and rental market in the next five years.
Competitive Landscape
Detailed analysis of the major companies present in United Kingdom truck leasing and rental market.
- Centurion Truck Rental
- Nationwide Hire UK
- Fraikin Limited
- Europcar International S.A.S.U.\
- Ryder System, Inc.
- Mac's Truck (Rental Leasing Co Ltd)
- Dawsongroup plc
- Hexagon Leasing Limited
- MC Group
- Eurotrail UK Limited
Report Scope:
United Kingdom Truck Leasing And Rental Market, By Type:
- Leasing
- Rental
United Kingdom Truck Leasing And Rental Market, By Truck Type:
- Light Duty
- Medium Duty
- Heavy Duty
United Kingdom Truck Leasing And Rental Market, By Booking:
- Online
- Offline
United Kingdom Truck Leasing And Rental Market, By End Use Industry:
- Oil & Gas
- FMCG
- E-Commerce
- Mining
- Construction
- Others
United Kingdom Truck Leasing And Rental Market, By Region:
- London
- East Anglia
- Southwest
- Southeast
- Scotland
- East Midlands
- Yorkshire & Humberside
For more information about this report visit https://www.researchandmarkets.com/r/1xpspc
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