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Heavy Duty Vehicle Rental Market Share

Report ID: GMI7353
Published Date: Dec 2024
Report Format: PDF

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Heavy Duty Vehicle Rental Market Share

Penske Truck Rental, Ryder System, Enterprise Truck Rental, Herc Rental, U-Haul International, Avis Budget, and PacLease hold a significant market share of over 21% in the heavy duty vehicle rental industry. Enterprise Truck Rental holds a significant market share in the heavy-duty vehicle rental industry due to its extensive network, customer-centric approach, and diverse fleet offerings.

The company benefits from being part of Enterprise Holdings, a global leader in transportation services, which allows it to leverage a vast infrastructure and resources. Enterprise’s ability to provide tailored rental solutions, including short-term and long-term leases, has made it a preferred choice for businesses across industries such as logistics, construction, and retail.

Penske Truck Rental holds a major share in the heavy-duty vehicle rental market due to its extensive experience, comprehensive service offerings, and innovative fleet management solutions. Penske’s strong presence in North America, with a robust network of locations and a vast fleet of heavy-duty vehicles, positions it as a market leader. The company caters to a wide range of industries, including logistics, e-commerce, and construction, providing solutions that address diverse business needs.

Heavy Duty Vehicle Rental Market Companies

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

Avis Budget
Enterprise Truck Rental
Herc Rental
PACCAR
Penske Truck Rental
Ryder System
Scania Rents
Sixt SE
Toyota
U-Haul International

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of heavy-duty vehicle rental reached USD 116.7 billion in 2024 and is set to grow at a 6.6% CAGR from 2025 to 2034, driven by rising maintenance and repair costs prompting businesses to seek cost-effective alternatives.

The diesel segment held a 73.3% market share in 2024, led by its extended driving range and flexibility, making it ideal for long-distance transportation and continuous operations.

The Asia Pacific market was valued at approximately USD 38.7 billion in 2024, fueled by the demand for flexible rental solutions that allow businesses to scale operations without long-term financial commitments.

The key players in the industry include Avis Budget, Enterprise Truck Rental, Herc Rental, PACCAR, Penske Truck Rental, Ryder System, Scania Rents, Sixt SE, Toyota, and U-Haul International.