Gaining traction: Residential moving activity and freight demand will rise, driving industry growth

The Truck Rental industry has performed well over the past five years as both businesses and consumers have increased demand for truck rentals and leases. 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. Over the five years to 2023, the industry is anticipated to continue growing, albeit at a slower pace...purchase to read more.

Industry Statistics & Market Size
Revenue
$21bn
Annual Growth 13-18
3.3%
Forecast Growth 18-23
Profit
Employment
77,038
Businesses
11,847

Industry Threats & Opportunities

  • As the economy improved, both freight shipping and general business activity have increased, in turn bolstering demand
  • A changing regulatory landscape has encouraged businesses to rent or lease trucks
  • People will move into new homes at an increasing rate, benefiting truck rental companies
  • Industry Report - Industry Key Buyers Chapter

    The Truck Rental industry has a moderate-to-high level of market share concentration, with the industry's four largest companies expected to collectively generate 51.0% of total industry revenue in 2018. While a substantial number of small- and medium-size enterprises also operate truck rental companies in the United States, mostly on a regional level, industry market share concentration has expanded over the past five years as the industry's four major players have grown their share of the industry. During the current period, growth for all four of the major players in this industry has outpaced growth for the industry at large, which has bolstered the market share of each company. Maj...purchase to read more.

    Additional Insights for the Truck Rental Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Truck Rental Industry are

  • Access to customers
  • Automated reservation systems
  • Offering related goods and services
  • IBISWorld analysts also discuss how external factors such as Demand from transportation and warehousing and Existing home sales in the Truck Rental industry impact industry performance..

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    What's in this report

    What is the Truck Rental Industry?

    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).

    Industry Products
  • Truck, trailer and bus rentals
  • Truck, trailer and bus leases
  • Other vehicle and equipment rentals and leases
  • Other services
  • Industry Activities
  • Truck rental and leasing
  • Truck tractor rental and leasing
  • Bus rental and leasing
  • Semitrailer rental and leasing
  • Utility trailer rental and leasing
  • Recreational vehicle (RV) rental and leasing
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from transportation and warehousing
  • Existing home sales
  • Housing starts
  • Regulation for the Automotive sector
  • Average age of vehicle fleet

  • Current Performance
  • Consumer trends
  • Business activity
  • Industry landscape
  • Chart: Revenue Growth

  • Industry Outlook
  • Growth in household and business demand
  • Shift from diesel
  • Industry landscape
  • Table: Truck Rental Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Truck Rental Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Local Freight Trucking
  • Long-Distance Freight Trucking
  • Moving Services
  • Consumers

  • Key Selling Industries
  • SUV & Light Truck Manufacturing
  • Truck & Bus Manufacturing
  • Truck, Trailer & Motor Home Manufacturing

  • Products & Services
  • Truck, trailer and bus leases
  • Truck, trailer and bus rentals
  • Other vehicle and equipment rentals and leases
  • Other services
  • Chart: Truck Rental Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Freight businesses
  • Nonfreight businesses
  • Individuals and households
  • Chart: Major Market Segmentation for the Truck Rental Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitDepreciationPurchasesWagesRent and utilitiesMarketingOther
  • Chart: Cost Structure Benchmarking – Sector vs Truck Rental

  • Basis of Competition
    External competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Truck Rental Industry

  • Industry Globalization
    Ryder System Inc., Penske Corporation, AMERCO, Enterprise Rent-A-Car Company,
  • Table: Ryder System Inc. - financial performance
  • Table: Penske Corporation - financial performance
  • Table: AMERCO - financial performance
  • Table: Enterprise Rent-A-Car Company - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Truck Rental Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Truck Rental Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Average age of vehicle fleet (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Environmental Protection Agency (Epa)
  • A government agency designed to protect human health and safeguard the natural environment.
  • Housing Starts
  • The number of new homes under construction.
  • Truck Chassis
  • A truck's supporting metal frame, wheels and mechanical parts, separate from its body.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Truck Rental can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Truck Rental:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Truck Rental market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Truck Rental, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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