Market Overview:
The global commercial vehicle rental and leasing market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for commercial vehicles for personal and enterprise leasing applications. Additionally, the growing urbanization and globalization are also contributing to the growth of this market. The trucks rental and leasing segment is expected to dominate the global commercial vehicle rental and leasing market during the forecast period, owing to the increasing demand for trucks for transportation purposes. The Asia Pacific region is expected to be fastest-growing region in this market during the forecast period, owing to rising economic development in countries such as China and India.
Product Definition:
Commercial Vehicle Rental and Leasing is the renting or leasing of commercial vehicles, such as trucks, vans and buses. Commercial vehicle rental and leasing can be a cost-effective way to get the equipment you need for your business without having to buy it outright. It can also help you manage your fleet more efficiently by providing access to a variety of vehicles when you need them.
Trucks Rental and Leasing:
Trucks rental and leasing are business practices where a company leases or loans a truck to another company, which in turn uses it for its business operations. The other company may be an independent operator or an employee of the first company. In either case, the second party does not purchase the vehicle but rather utilizes it for business purposes only.
Trailers Rental and Leasing:
Trailers rental and leasing are the services provided by the manufacturers of commercial vehicles for transporting goods and passengers. These trailers can be owned by an individual or they can also be rented from a trailer rental company. The companies that provide these services make sure that customers have access to all types of trailers, including light-duty, medium-duty, and heavy-duty depending upon the requirements.
Application Insights:
The personal leasing segment accounted for the largest revenue share of over 60.0% in 2017 and is anticipated to maintain its lead over the forecast period. The growth can be attributed to increasing number of consumers opting for vehicle rental services on a short-term basis, as they travel from one destination to another or across several cities within a single trip. Moreover, growing trend of road trips has increased the demand for commercial vehicles that offer comfortable traveling experience and better utility such as cargo space and load capacity. This factor is expected to fuel enterprise leasing growth over the forecast period.
The other applications segment includes heavy trucks used in construction industries or agricultural activities among others where high durability.
Regional Analysis:
The CVR&L market in North America is expected to grow at a significant rate over the forecast period. The growth can be attributed to increasing demand for commercial vehicles among businesses and consumers on account of rising business travel and tourism. Furthermore, the region has one of the largest truck rental markets owing to presence of prominent players such as Enterprise Rent-a-Car System, Inc.; Avis Budget Group; Hertz Global Holdings, Inc.; and SIXTY ONE INC. Moreover, growing number of trucks available for rent or lease through online portals is further fueling regional growth.
Asia Pacific dominated with more than 30% revenue share in 2017 due to high economic development along with rapid urbanization resulting into increased spending power among people who need transportation services other than personal cars are driving force behind regional market growth over the forecast period.
Growth Factors:
- Increasing demand for commercial vehicles from the transportation and logistics sector
- Rising demand for rental and leasing services from small businesses and startups
- Proliferation of online marketplaces for commercial vehicle rentals and leases
- Growing popularity of fleet management solutions among businesses
- Expansion of the global automotive aftermarket
Scope Of The Report
Report Attributes
Report Details
Report Title
Commercial Vehicle Rental and Leasing Market Research Report
By Type
Trucks Rental and Leasing, Trailers Rental and Leasing, Other
By Application
Personal Leasing, Enterprise Leasing
By Companies
Paccar, Penske, Ryder, The Larson Group, Mendon Trucks Leasing and Rental, Kris-Way Truck Leasing, TEC Equipment, Inc, DeCarolis Truck Rental, Inc, PEMA GmbH, Hertz, Thrifty, Europcar, Avis, Idealease Inc, Budget, NIPPON RENT-A-CAR
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
179
Number of Tables & Figures
126
Customization Available
Yes, the report can be customized as per your need.
Global Commercial Vehicle Rental and Leasing Market Report Segments:
The global Commercial Vehicle Rental and Leasing market is segmented on the basis of:
Types
Trucks Rental and Leasing, Trailers Rental and Leasing, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Personal Leasing, Enterprise Leasing
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Paccar
- Penske
- Ryder
- The Larson Group
- Mendon Trucks Leasing and Rental
- Kris-Way Truck Leasing
- TEC Equipment, Inc
- DeCarolis Truck Rental, Inc
- PEMA GmbH
- Hertz
- Thrifty
- Europcar
- Avis
- Idealease Inc
- Budget
- NIPPON RENT-A-CAR
Highlights of The Commercial Vehicle Rental and Leasing Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Trucks Rental and Leasing
- Trailers Rental and Leasing
- Other
- By Application:
- Personal Leasing
- Enterprise Leasing
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Commercial Vehicle Rental and Leasing Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Commercial vehicle rental and leasing is the process of renting or leasing a commercial vehicle from a third party. The most common type of commercial vehicle rental is for trucks, but there are also options for vans, buses, and cargo vehicles. Commercial vehicle leasing allows businesses to get the best value for their money by locking in an agreement with a specific provider. This can be helpful if you need to rent a truck or van regularly but donu2019t want to commit to long-term ownership.
Some of the key players operating in the commercial vehicle rental and leasing market are Paccar, Penske, Ryder, The Larson Group, Mendon Trucks Leasing and Rental, Kris-Way Truck Leasing, TEC Equipment, Inc, DeCarolis Truck Rental, Inc, PEMA GmbH, Hertz, Thrifty, Europcar, Avis, Idealease Inc, Budget, NIPPON RENT-A-CAR.
The commercial vehicle rental and leasing market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Commercial Vehicle Rental and Leasing Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Commercial Vehicle Rental and Leasing Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Commercial Vehicle Rental and Leasing Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Commercial Vehicle Rental and Leasing Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Commercial Vehicle Rental and Leasing Market Size & Forecast, 2018-2028
4.5.1 Commercial Vehicle Rental and Leasing Market Size and Y-o-Y Growth
4.5.2 Commercial Vehicle Rental and Leasing Market Absolute $ Opportunity
Chapter 5 Global Commercial Vehicle Rental and Leasing Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Commercial Vehicle Rental and Leasing Market Size Forecast by Type
5.2.1 Trucks Rental and Leasing
5.2.2 Trailers Rental and Leasing
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Commercial Vehicle Rental and Leasing Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Commercial Vehicle Rental and Leasing Market Size Forecast by Applications
6.2.1 Personal Leasing
6.2.2 Enterprise Leasing
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Commercial Vehicle Rental and Leasing Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Commercial Vehicle Rental and Leasing Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Commercial Vehicle Rental and Leasing Analysis and Forecast
9.1 Introduction
9.2 North America Commercial Vehicle Rental and Leasing Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Commercial Vehicle Rental and Leasing Market Size Forecast by Type
9.6.1 Trucks Rental and Leasing
9.6.2 Trailers Rental and Leasing
9.6.3 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Commercial Vehicle Rental and Leasing Market Size Forecast by Applications
9.10.1 Personal Leasing
9.10.2 Enterprise Leasing
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Commercial Vehicle Rental and Leasing Analysis and Forecast
10.1 Introduction
10.2 Europe Commercial Vehicle Rental and Leasing Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Commercial Vehicle Rental and Leasing Market Size Forecast by Type
10.6.1 Trucks Rental and Leasing
10.6.2 Trailers Rental and Leasing
10.6.3 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Commercial Vehicle Rental and Leasing Market Size Forecast by Applications
10.10.1 Personal Leasing
10.10.2 Enterprise Leasing
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Commercial Vehicle Rental and Leasing Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Commercial Vehicle Rental and Leasing Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Commercial Vehicle Rental and Leasing Market Size Forecast by Type
11.6.1 Trucks Rental and Leasing
11.6.2 Trailers Rental and Leasing
11.6.3 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Commercial Vehicle Rental and Leasing Market Size Forecast by Applications
11.10.1 Personal Leasing
11.10.2 Enterprise Leasing
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Commercial Vehicle Rental and Leasing Analysis and Forecast
12.1 Introduction
12.2 Latin America Commercial Vehicle Rental and Leasing Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Commercial Vehicle Rental and Leasing Market Size Forecast by Type
12.6.1 Trucks Rental and Leasing
12.6.2 Trailers Rental and Leasing
12.6.3 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Commercial Vehicle Rental and Leasing Market Size Forecast by Applications
12.10.1 Personal Leasing
12.10.2 Enterprise Leasing
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Commercial Vehicle Rental and Leasing Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Commercial Vehicle Rental and Leasing Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Commercial Vehicle Rental and Leasing Market Size Forecast by Type
13.6.1 Trucks Rental and Leasing
13.6.2 Trailers Rental and Leasing
13.6.3 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Commercial Vehicle Rental and Leasing Market Size Forecast by Applications
13.10.1 Personal Leasing
13.10.2 Enterprise Leasing
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Commercial Vehicle Rental and Leasing Market: Competitive Dashboard
14.2 Global Commercial Vehicle Rental and Leasing Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Paccar
14.3.2 Penske
14.3.3 Ryder
14.3.4 The Larson Group
14.3.5 Mendon Trucks Leasing and Rental
14.3.6 Kris-Way Truck Leasing
14.3.7 TEC Equipment, Inc
14.3.8 DeCarolis Truck Rental, Inc
14.3.9 PEMA GmbH
14.3.10 Hertz
14.3.11 Thrifty
14.3.12 Europcar
14.3.13 Avis
14.3.14 Idealease Inc
14.3.15 Budget
14.3.16 NIPPON RENT-A-CAR
