Global GRP Pipes Market (1)

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The global truck rental market is predicted to
have a healthy growth at 15.3 CAGR over the
predicted years (20192024)
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Market Highlights North America to Have Lion
Share in Truck Rental Market. The global truck
rental market is predicted to have a healthy
growth at 15.3 CAGR over the predicted years
(20192024). Truck rental includes hiring of
light or heavy commercial vehicles. Renting
trucks will help in curbing vehicular pollution
via reducing the owned vehiclesrsquo volumetric
sales and also on road vehicles. Renting a truck
is an immensely cost-effective and efficient
solution compared to loan and purchasing a truck
as it gives the owner the choice of mobility
devoid of having to pay the price related to
vehicle ownership. Report Sample
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t/7825
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Segmentation Based on truck type, the truck
rental market is segmented into light commercial
vehicle and heavy commercial vehicle. Of these,
the heavy commercial truck segment will have the
largest share in the market and at an astounding
CAGR over the predicted years. The
intercontinental trucking and cross-border
trucking industry is predicted to boost the
growth of this segment. Based on lease type, the
truck rental market is segmented into
full-service lease and finance lease. Of these,
full-service lease will dominate the market and
is predicted to grow at the fastest CAGR over the
predicted years. This is owing to its growing
demand as it helps in managing the operating
costs of trucks including roadside assistance,
licensing, taxes, repairs and maintenance.
Full-service lease helps in minimizing the
administrative costs related to operating a truck
thereby enabling truck operators in focusing on
their business more. Browse Complete Report
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Regional Analysis By region, the truck rental
market covers growth opportunities and latest
trends across Rest of the World, Asia Pacific,
Europe and North America. Of these, North America
will have lions share in the truck rental market
over the predicted years. This is owing to the
presence of leading rental truck provider
companies in the region namely Avis Budget Group
Inc., Ryder System Inc., Penske Truck Leasing
Co., PACCAR Leasing Company and AMERCO. This
coupled with the growing awareness and concern to
reduce emissions has led to an increase in the
truck rental services as they significantly cut
down the total number of trucks on the road.
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Industry News April 2019- Penske Truck Leasing
is relocating their Dubuque, lowa facility. For
accommodating the growing customer base, the
company has built its new state-of-the-art
facility which offers commercial as well as
consumer truck rentals, full-service truck
leasing, connected fleet solutions, and contract
truck fleet maintenance, a value-added resource
for helping customers in addressing options and
issues related to onboard technology systems
(onboard cameras, telematics, ELDs and
others). March 2019- Enterprise Holdings that
handles the worlds most diverse and largest
privately-owned fleet has launched its first ever
vehicle subscription service called Subscribe
with Enterprise in three states Nevada,
Missouri and Minnesota. Under this program, a
single monthly fee will allow customers in
selecting from an array of vehicle classes
including light duty trucks, mid-sized and small
SUVs and premium and full-size sedans,
representing over twenty makes and models.
Moreover, subscribers have the flexibility of
swapping their cars up to 4 times a month.
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• Key players
• Europcar (UK)
• Almano (US)
• United Rentals, Inc. (US)
• Sixt SE (Germany)
• Ryder System, Inc. (US)
• Penske Truck Leasing Co., L.P. (US)
• PACCAR Leasing Company (US)
• AMERCO (US), MAX Rental.lu AG (Luxembourg)
• Budget Car Rental (US)
• Avis Budget Group Inc. (US)
• Advantage Rent-a-car (US)

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