Global Commercial Vehicle Rental and Leasing Market

Global Commercial Vehicle Rental And Leasing Market Size, Share, Growth Analysis, By Type(Personal Use, Business Use), By Vehicle Type(Light Commercial Vehicle, Car) - Industry Forecast 2024-2031

Report ID: SQSG25C2017 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 62 | Figures: 74

Global Commercial Vehicle Rental And Leasing Market Competitive Landscape

  • The existence of several international players defines the global market. To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation. In our commercial vehicle rental and leasing market reports, some of the leading commercial vehicle rental and leasing manufacturers are as follows: Paccar Leasing Company (Washington), Penske Automotive Group, Inc. (US), Ryder (US), Enterprise Holdings Inc. (US), The Hertz Corporation (US), Avis Budget Group ( US), Ald Automotive(France), SIXT Se (Germany), Europcar (France), Localiza (Brazil), Unidas (US), Shouqi Zuche (US), Goldcar (Alicante), Movida (India), Leaseplan (Netherland)

Top Players in the Global Commercial Vehicle Rental and Leasing Market

  • Enterprise Holdings, Inc.
  • Avis Budget Group, Inc.
  • Ryder System, Inc.
  • LeasePlan Corporation N.V.
  • Hertz Global Holdings, Inc.
  • Penske Truck Leasing Co., L.P.
  • Europcar Mobility Group SA
  • ALD Automotive
  • Sixt SE
  • Budget Truck Rental, LLC
  • Northgate plc
  • ARI Fleet Management
  • LeasePlan USA
  • National Car Rental
  • United Rentals, Inc.
  • Emkay, Inc.
  • Thrifty Car Rental
  • Advantage Rent A Car
  • Nippon Rent-A-Car

Commercial Vehicle Rental And Leasing Market

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Commercial Vehicle Rental And Leasing Market size was valued at USD 77.42 billion in 2019 and is poised to grow from USD 82.68 billion in 2023 to USD 149.47 billion by 2031, growing at a CAGR of 6.8% in the forecast period (2024-2031).

Top Players in the Global Commercial Vehicle Rental and Leasing Market 'Enterprise Holdings, Inc.', 'Avis Budget Group, Inc.', 'Ryder System, Inc.', 'LeasePlan Corporation N.V.', 'Hertz Global Holdings, Inc.', 'Penske Truck Leasing Co., L.P.', 'Europcar Mobility Group SA', 'ALD Automotive', 'Sixt SE', 'Budget Truck Rental, LLC', 'Northgate plc', 'ARI Fleet Management', 'LeasePlan USA', 'National Car Rental', 'United Rentals, Inc.', 'Emkay, Inc.', 'Thrifty Car Rental', 'Advantage Rent A Car', 'Nippon Rent-A-Car'

The need for the industry will be fueled in the near future by smart features in car rentals including parking suggestions, pre-trip planning, predictive navigation, and others. Commercial vehicle technology is developing at a rising rate, which will boost market prospects.

Global smartphone adoption is expanding quickly, and people are becoming more dependent on technology to do tasks like paying bills and making rental reservations. The expense of operating is kept to a minimum by leasing a car or truck. Instead of buying trucks and cars, many vehicle operators prefer to lease or rent them. The cost of servicing, maintenance, and car replacement are also eliminated when renting a vehicle with complete service. Therefore, it is projected that these factors will accelerate market growth over the projection period.

During the forecast period, North America is expected to have substantial growth. The demand for commercial rental automobiles in the US is blamed for the region's expansion. The market will benefit from the adoption of the newest technology to improve vehicle user experience. The development of the market in the region will be further aided by the presence of enduring businesses in the US.

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