Truck On: An Increase in Demand Across the Industry's Major Downstream Markets Will Likely Boost Industry Revenue
The Truck Rental industry in Canada has performed well as demand for industry services has grown from both businesses and households. Businesses rent and lease trucks from industry operators for both the shipment of freight to downstream customers and the transport of goods and materials within and between work sites. Due to economic growth over the past five years, both freight shipping and general business activity have increased, bolstering demand from business customers. Household demand has also expanded over the past five years, with housing starts and the value of residential construction both expected to grow during the period. As families and individuals increasingly purchase homes, residential moving activity has increased, expanding demand for industry vehicles to move possessions between houses. However, the spread of COVID-19 in 2020 significantly slowed overall industry growth as consumer spending and confidence fell.
This industry primarily rents or leases trucks, truck tractors, utility trailers, semitrailers, recreational vehicles (RVs) and buses without drivers. Vehicle retailing activity is excluded from this industry. Companies that rent or lease industrial trucks and equipment, such as forklifts, are covered in the Industrial Equipment Rental and Leasing industry in Canada (report 53249CA).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Ryder System Inc.
Methodology
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