Truck Rental & Leasing Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 11/28/2022
SIC Codes: 6159
NAICS Codes: 532120
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Truck Rental & Leasing Industry Profile

Companies in this industry rent and lease trucks, truck tractors, buses, semi-trailers, 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 truck rental industry is expected to reach about $215 billion by 2030 at a compound annual growth rate (CAGR) of 10.32%, according to Market Research Future. North America is the leading truck rental market in terms of size and share followed by Europe, the Pacific, Africa, and Central America.

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 $22 billion.

COMPETITIVE LANDSCAPE

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 leasing of heavy trucks which accounts for more than 50% of the industry's revenues, followed by the rental of heavy trucks (30%). Other services include maintenance and repair services, retail sales of automotive fuels, and rental and leasing of motor ...

 
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