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Heavy-Duty Vehicle Rental Market Share

Report ID: GMI7353
Published Date: Nov 2023
Report Format: PDF

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Heavy-Duty Vehicle Rental Market Share

Major players operating in the heavy-duty vehicle rental industry are:

Enterprise Truck Rental
Hertz Equipment Rental Corporation
Penske Truck Leasing
Ryder System, Inc.
United Rentals
XTRA Lease

Ryder System, Inc. is one of the dominating players in the market with around 4% business share. The competitive landscape of the market is highly competitive, marked by established players constantly innovating to offer diverse fleets, superior customer service, and competitive pricing. Companies vie for market share by expanding services, embracing technology, and maintaining high-quality, well-maintained vehicle offerings.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Heavy-duty vehicle rental industry size was USD 102.4 billion in 2022 and is expected to register over 6% CAGR from 2023-2032 due to the rising demand for sustainable transportation solutions and growing preference for eco-friendly options worldwide.

The ICE propulsion segment held 95% share of the heavy-duty vehicle rental industry in 2022 due to their ability to offer extended driving range on single tank of fuel for long-distance transportation and tasks that require continuous operation.

Asia Pacific heavy-duty vehicle rental industry size reached USD 34.8 billion in 2022 and is expected to register commendable CAGR from 2023-2032 due to the growing number of businesses in the region opting to rent vehicles for specific projects or short-term needs.

Enterprise Truck Rental, Hertz Equipment Rental Corporation, Penske Truck Leasing, Ryder System, Inc., United Rentals, and XTRA Lease are some of the major heavy-duty vehicle rental companies worldwide.