Overview

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

IBISWorld’s Truck Rental Industry Research Report offers insight into the market at the national level. Our analysis highlights macro trends in the overall sector and the micro trends faced by companies that do business in the Truck Rental industry. Our five-year outlook forecasts explain how the market is set to change and the product segments that will drive growth.

REPORT SNAPSHOT

Industry Threats & Opportunities

  • Growth in home sales will boost moving activity, supporting demand for truck rentals
  • Expected increases in truck prices have led business customers to seek out truck rental companies
  • Growth in corporate profit will encourage businesses to purchase, rather than lease, trucks
  • Industry Analysis & Industry Trends

    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 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.

    Industry Report - Industry Locations Chapter

    Distribution of locations in the Truck Rental industry is based on several factors. First, rental locations tend to be located near densely populated areas, as high volume areas provide a larger pool of customers for industry operators. In addition, industry establishments are more likely to be located in areas in which people have a higher propensity to rent, as this indicates increased moving activity and a greater propensity for households to move regularly. Finally, industry establishments tend to be located in areas of greater economic activity, as this indicates greater demand from businesses for industry services.

    The Southeast region, which contains the greatest share of the US population, is also home to the largest concentration of industry establishments, 26.6% o

    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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    Industry Products

    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

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    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
  • Consolidation and profit
  • Chart: Revenue Growth

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

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

  • Products & Markets
    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
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Depreciation
  • Wages
  • Rent and utilities
  • Marketing
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Truck Rental

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

  • Industry Globalization
    Major Companies
    Ryder System Inc.Penske CorporationAMERCOEnterprise 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

  • Operating Conditions
    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
    Key Statistics
    Table: Industry Data for the Truck Rental Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Average age of vehicle fleet (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Jargon & Glossary
    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.
  • Why buy this report?

    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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