The United States Truck Leasing & Rental Market may register growth with higher freight movement service demands in the future years. According to TechSci report on, “United States Truck Leasing & Rental Market – By Region, Competition Forecast & Opportunities, 2027”. The US truck leasing & rental market may flourish with an impressive CAGR during the forecast period of 2023-2027, on the backbone of growing demands from the end-use industries. Expanding construction industry, automotive industry, and growing demand from the retail industry for efficient retail product transportation drives the growth of the United States truck leasing & rental market in the upcoming five years.
Important Elements of the United States Truck Leasing & Rental Market
The surge in the demand for heavy-duty trucks and the higher costs of purchasing the trucks facilitate the growth of the US truck leasing & rental market in the next five years. Availability of the services through an online platform, increasing penetration of smartphones, and growing use of internet-based services also support the growth of the United States truck leasing & rental market in the future five years.
Technological advancement and evolution of the services of truck easing & rental coupled with easier hiring of these services also facilitate the growth of the US truck leasing & rental market in the future years. The inclusion of technologies in the trucks such as AI monitoring, internet of things, and GPS monitoring of the trucks, also fuels the growth of the United States truck leasing & rental market in the forecast years through 2027F. Furthermore, factors like increasing vehicle sales, government-announced safety norms regarding COVID protection, and sanitizing regulations, coupled with growing demand for safe vehicles for transport services are some of the major factors aiding the growth of the United States truck leasing & rental market in the forecast period.
Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on the “United States Truck leasing & rental Market“
The US truck leasing & rental market is segmented by type, lease type, truck type, end-use industry, booking, vehicle type, competitional landscape, and regional distribution. Based on type, the market is differentiated between lease and rental. The leasing segment is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the ground of growing demand from the end-use industries like consumers, automotive, etc. Highly loaded truck demands to move the retail products as well as electronics and automotive facilitate the growth of the United States truck leasing & rental market in the next five years. The rental segment is also anticipated to hold significant growth in shares due to surging demands from the packers and movers sector. Increasing relocation of the population further substantiates the growth of the United States truck leasing & rental market in the forecast years, through 2027F.
By lease type, the market is bifurcated into a financial lease, full service/operational lease, and third-party lease. Based on truck type, the market is fragmented into light-duty, heavy-duty, and medium-duty. Heavy-duty trucks are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years due to increasing demands from the consumer goods & retail industry. Higher loads of truck commute drive the market segment. Moreover, light-duty trucks are also expected to hold significant shares due to increasing demands from small and medium enterprises demanding for shorter-distance freight movements thereby increasing the growth of the US truck leasing & rental market in the next five years.
By end-use industry, the market is further segmented into oil & gas, FMCG, e-commerce, mining, construction, and others. Based on booking, the market is distinguished between online and offline. By vehicle type, the market is differentiated into fully built and customizable. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Western Region, Northern and Central Region, Eastern Region, and Southern Region.
A partial list of major market players in the US truck leasing & rental market includes :
- Enterprise Holdings, Inc.
- Penske Truck Leasing Co., L.P.
- Idealease, Inc.
- Rush Enterprises, Inc.
- Mendon Trucks Leasing and Rental.
- PACCAR Leasing Company
- Ryder System, Inc.
- MHC
- Trac Intermodal LLC
- Wyatt Leasing, LLC
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“Expanding automotive industry and easier facilitation of the internet based service avail drive the market growth in the country. Higher dependency on the by-road transportation of the products and efficient tracking services of the goods also adds value to the growth of the United States truck leasing & rental market in the future five years. New market players may focus on the demands of the businesses and the consumer to establish their brand in the industry,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“United States Truck Leasing & Rental Market By Type (Lease, Rental), By Lease Type (Financial Lease, Full Service/Operational Lease, Third Party Lease), By Truck Type (Light Duty, Heavy Duty, Medium Duty), By End Use Industry (Oil & Gas, FMCG, E-Commerce, Mining, Construction, Others), By Booking (Online, Offline), By Vehicle Type (Fully Build, Customizable), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of the US truck leasing & rental market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United States truck leasing & rental market.
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