Heavy Duty Vehicle Rental Market Size

Heavy Duty Vehicle Rental Market Size

The global heavy duty vehicle rental market size was valued at USD 116.7 billion in 2024 and is estimated to register a CAGR of 6.6% between 2025 and 2034. The rising Consumer Price Index (CPI) in motor vehicle maintenance & repair is prompting businesses to seek cost-effective alternatives. According to the U.S. Bureau of Labor Statistics, the CPI of motor vehicle maintenance & repair in the U.S. has risen to 392.2 from 310.6 between 2021 to 2023.

As maintenance costs increase, companies are turning to heavy-duty vehicle rental services. Renting these heavy-duty vehicles provides a practical solution, allowing businesses to fulfill their transportation needs without the burden of rising maintenance expenses.
 

Cost efficiency is a key factor driving the heavy-duty vehicle rental market. Renting vehicles eliminates the high upfront costs associated with purchasing vehicles, enabling businesses to allocate resources strategically. Also, rental fees often cover maintenance & repair expenses, saving businesses from unexpected financial burdens. This flexibility allows companies to optimize their budgets, especially for short-term projects or seasonal demands, making heavy-duty vehicle rental a financially prudent choice. It ensures that businesses can access necessary vehicles without long-term financial commitment, enhancing their financial stability and overall operational efficiency.