|Last Quarterly Update:||3/6/2017|
|Industry Overview||Trends & Challenges||Industry Forecast|
|Quarterly Industry Update||Call Prep Questions||Website & Media Links|
|Business Challenges||Financial Information||Glossary & Acronyms|
Companies in this industry rent and lease trucks, truck tractors, buses, semitrailers, utility trailers, and recreational vehicles. Major companies include Cruise America, Hertz, Penske Truck Leasing, Ryder, and U-Haul (all based in the US), as well as LeasePlan (the Netherlands) and Sixt (Germany).
The global rental and leasing industry has focused on emerging countries for expansion projects. The rise of megacities such as Mumbai will create demand for truck and car rental, as mass transit cannot keep up with the city's transportation needs.
The truck rental and leasing industry in the US includes about 6,000 establishments (single-location companies and units of multi-location companies) with a combined annual revenue of about $17 billion.
Demand is driven by the health of the economy and the housing market. The profitability of individual companies depends on efficient operations. Big companies have economies of scale in acquiring vehicles and customers. Small companies can compete effectively by providing better service, alternative products, or lower prices. The US industry is highly concentrated: the 50 largest companies generate about 85% of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major services include the rental and leasing of heavy trucks, truck trailers, and buses, which account for about 80% of industry revenue. Other services include rental and leasing of motor homes, travel trailers, campers, and utility trailers, along with maintenance.
A typical truck rental operation has to acquire, maintain, clean, fuel, and repair vehicles ...
Would you or your company benefit from having unlimited access to First Research's industry intelligence tools?Learn More About Subscription Options