Truck Rentals - Global Strategic Business Report

The global market for Truck Rentals was estimated at US$112.9 Billion in 2024 and is projected to reach US$138.4 Billion by 2030, growing at a CAGR of 3.5% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Truck Rentals market.

Global Truck Rentals Market - Key Trends & Drivers Summarized

Why Are Businesses and Individuals Turning to Truck Rentals Over Ownership?

In recent years, the global truck rentals market has witnessed robust growth as both enterprises and consumers reevaluate the economics of vehicle ownership. High upfront costs, fluctuating fuel prices, and increasing maintenance expenses have made truck ownership less appealing, especially for small and medium enterprises (SMEs) and independent contractors. Rental models offer a flexible, cost-effective solution that aligns with dynamic business needs, seasonal demand fluctuations, and short-term logistics requirements. The rise in e-commerce and the growing emphasis on last-mile delivery have amplified the need for readily available, adaptable transport fleets a demand efficiently met by rental services. Moreover, the growing trend of urban migration and the gig economy has contributed to increased rental usage for personal and small business relocations, DIY home improvement projects, and freelance delivery jobs. As businesses increasingly prioritize operational agility and capital efficiency, truck rentals are proving to be an indispensable logistical backbone across industries.

How Is Technology Reinventing the Truck Rental Experience?

Digital transformation has significantly altered how truck rental services are accessed, managed, and optimized. Mobile apps, cloud platforms, and GPS tracking systems have enabled seamless booking, real-time vehicle tracking, and route optimization for renters. Online platforms now offer integrated services including vehicle selection, rental customization (by size, duration, and capacity), insurance options, and contactless pickup/drop-off enhancing user convenience and reducing transaction friction. Furthermore, advanced fleet management software employed by rental providers ensures efficient vehicle allocation, predictive maintenance, and better asset utilization. Telematics is also improving safety by monitoring driver behavior and enforcing compliance with road safety regulations. Some companies are integrating AI-powered chatbots and virtual assistants into their platforms to provide 24/7 support and drive higher customer engagement. This technological shift is creating a new level of transparency and control, appealing especially to logistics operators and digitally savvy entrepreneurs.

Are Sustainability Pressures Changing the Dynamics of Fleet Rentals?

Environmental considerations are beginning to shape the strategic direction of truck rental fleets worldwide. As governments tighten regulations on vehicular emissions and impose urban driving restrictions, there is a noticeable push toward greener fleets. Rental companies are investing in electric trucks, hybrids, and vehicles compliant with Euro VI and other regional emission standards to align with sustainability mandates. In some urban centers, electric truck rentals are already being used by retail delivery chains and urban couriers aiming to reduce their carbon footprint. Furthermore, customers particularly corporate clients are increasingly factoring environmental impact into their vendor selection processes, pressuring rental providers to decarbonize their fleets. The integration of green trucks not only meets regulatory expectations but also enhances brand reputation and eligibility for government incentives. Alongside these changes, data analytics is being used to monitor emissions, fuel efficiency, and sustainability performance metrics, making it easier for businesses to meet their ESG goals while using rental services.

What's Powering the Surge in Demand for Truck Rentals Globally?

The growth in the truck rentals market is driven by several factors, including the rise of on-demand logistics, growing urbanization, increasing penetration of e-commerce, and an expanding gig economy that relies on flexible transportation solutions. Industrial sectors such as construction, retail, and FMCG increasingly depend on short-term truck rentals to meet shifting project and delivery timelines. Seasonal surges, such as holiday shopping periods or agricultural harvests, further drive the need for temporary transport solutions. Moreover, the proliferation of tech-enabled aggregators and app-based platforms has lowered entry barriers for renters while boosting fleet visibility and service efficiency. Shifts in consumer behavior, such as the rising preference for DIY relocation and service outsourcing, are also fueling the market. In developing economies, the lack of widespread vehicle financing and the informal nature of many logistics businesses make rentals a more viable option. Additionally, cost optimization strategies and the need to scale operations without heavy capital investment are prompting even large enterprises to favor flexible rental models over full fleet ownership.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the OEM Captives segment, which is expected to reach US$84.6 Billion by 2030 with a CAGR of a 4.0%. The Commercial Banks segment is also set to grow at 2.8% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $30.8 Billion in 2024, and China, forecasted to grow at an impressive 6.5% CAGR to reach $27.7 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Truck Rentals Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Truck Rentals Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Truck Rentals Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as Avis Budget Group, Big Truck Rental, Budget Truck Rental, Enterprise Truck Rental, and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 34 companies featured in this Truck Rentals market report include:

• Avis Budget Group
• Big Truck Rental
• Budget Truck Rental
• Enterprise Truck Rental
• Fluid Truck
• Hertz Corporation
• Home Depot Truck Rental
• Penske Truck Leasing
• Premier Truck Rental
• Ryder System, Inc.
• Sunbelt Rentals
• U-Haul International
• United Rentals
• Volvo Truck Rental
• Europcar Mobility Group
• Fraikin Group
• Sixt SE
• Scania Truck Rental
• MAN Truck & Bus
• DAF Trucks

This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis. Key updates include:

• Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
• Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
• Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
• Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
• Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
• Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
• Complimentary Update: Buyers receive a free July 2025 update with finalized tariff impacts, new trade agreement effects, revised projections, and expanded country-level coverage.