The Truck Rental industry has performed well over the past five years. While declining during the recession, the industry has grown strongly since 2011 as both businesses and consumers have increased their demand for truck rentals and leases. Consequently, growth in home purchases, which has been accompanied by a greater number of household moves, has expanded demand for industry services. Over the next five years, the industry is poised for stable growth. As the economy grows, businesses are expected to continue to complement their truck fleets with trucks leased and rented from industry operators. In addition, uncertainty regarding fuel prices and emissions regulations is likely to support demand for the industry's commercial truck leasing and fleet management services.
Operators in this industry primarily rent or lease (without drivers) trucks, utility trailers, buses, semitrailers and other related vehicles. Purchasing and lease-to-own arrangements of these vehicles are excluded from this industry. Operators that rent or lease industrial trucks and equipment, such as forklifts, are covered in the Industrial Equipment Rental and Leasing industry (IBISWorld report 53249).
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.