Market Research Future (MRFR), in its latest report on the global Truck Rental market 2020, reveals different aspects of the market and potential forces that can impact the market dynamics. The influence of COVID 19 outbreak on the truck rental market is also revealed in the report. As per MRFR data, the truck rental market can register 15.3% CAGR across the review period.
The hiring and leasing activities of trucks have risen
exponentially due to the rise in e-commerce dealings around the world, and this
is predicted to benefit the truck rental market share in the impending period.
Moreover, the development of cost-efficient fleet solutions is predicted to
transform the truck rental market share in the forthcoming period. The ease of
maintaining transport is estimated to promote the truck rental market.
Competitive Analysis
The optimization of the resources in the market is predicted
to create promising options for growth in the impending period. The
recalibration of the supply chains is estimated to undertaken at a fast pace in
this period ahead. The economic downturn is predicted to induce contenders into
carrying out deliberation of their opportunities to plan for the long term
expansion. The marketing budgets in the market are estimated to be
restricted due to the lack of liquidity in the market, and this is foreseen to
transform the overall market in the impending period.
Also, the market is estimated to focus on a locally based
structure to reduce operating cost in these times. The imperative conditions
for growth are estimated to spur the market considerably in the impending
period. The need to transform the service and the product delivery is projected
to create a favourable scope for development of the market. The competition in
the market is estimated to ramp up because of the lack of profitable
opportunities in the market.
Top Key
Vendors:
Avis Budget Group Inc. (U.S.), Budget Car Rental (U.S.), PACCAR Leasing Company (U.S.), Almano (U.S.), MAX Rental.lu A.G. (Luxembourg), AMERCO (U.S.), Penske Truck Leasing Co., L.P. (U.S.), Ryder System, Inc. (U.S.), Sixt S.E. (Germany), Advantage Rent-a-car (U.S.), United Rentals, Inc. (U.S.) and Europcar (U.K.).
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Segmental Analysis
The segmentation of the truck rental market is carried out on
the basis of lease type, truck type, and region.
·
Based on
the lease type, the truck rental market has been segmented into a
full-service lease and finance lease.
·
Based on
the truck type, the truck rental market has been segmented into a
light commercial vehicle and heavy commercial truck.
·
On the
basis of regions, the truck rental market has been segmented into
Europe, Asia Pacific, North America, and other global markets in the region.
Regional Insights
The North American regional truck rental market controlled
the principal market share due to the incidence of rental truck provider
businesses. The presence of factors such as intensifying concern and
consciousness of decreasing emissions has directed to the upsurge in the car
rental choices, as truck rental systems considerably decrease the number of
trucks on the road.
Industry Updates:
Feb 2020 Porter, a Logistics startup is in discussion to raise
USD 30 million in its current funding round, which values it at approximately
USD 120 million. The funding round is anticipated to be controlled by Swiss
investor LGT, through its influence investment platform Lightstone Aspada.
Porter’s current investors consist of venture capital firms Sequoia Capital and
Kae Capital, besides Mahindra and Mahindra Ltd (M&M), one of India’s
principal automobile manufacturers. After the acquisition, Porter will be the third
agreement it will close in the past few months.
TABLE OF CONTENTS:
1.
Market Introduction
2.
Research Methodology
3.
Market Dynamics
4.
Executive Summary
5.
Market Factor Analysis
6.
Truck Rental Market,
By Segments
7.
Competitive Analysis
Continued…
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