Commercial Vehicle Rental and Leasing Market Report Forecast 2021-2031 | Size, Share, Industry Revenue, Demand & Applications, Business Opportunities with Covid-19 Impact, Revenue Growth Status

Global Commercial Vehicle Rental and Leasing Market report from Global Insight Services is the single authoritative source of intelligence on Commercial Vehicle Rental and Leasing Market . The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Commercial vehicle rental and leasing is a service that allows businesses to rent or lease vehicles for a set period of time. This can be useful for businesses that need a vehicle for a short-term project or event, or for businesses that do not want to own a fleet of vehicles. Commercial vehicle rental and leasing companies typically have a wide range of vehicles available, from small cars to large trucks. Prices will vary depending on the type of vehicle, the length of time it is needed, and the company that is providing the service.

Key Trends

The key trends in commercial vehicle rental and leasing technology are:

  1. The use of big data and analytics to improve fleet management and vehicle utilization.
  2. The use of electric vehicles and alternative fuel vehicles in commercial fleets.
  3. The use of connected vehicle technologies to improve fleet management and driver safety.
  4. The use of mobile technologies to improve customer service and vehicle reservations.

Key Drivers

There are a few key drivers of the commercial vehicle rental and leasing market.

Firstly, the growth of e-commerce has resulted in an increased demand for delivery vehicles, which has in turn driven up demand for commercial vehicle rentals and leases.

Secondly, the rise of the gig economy has led to a growing number of people using their own personal vehicles for business purposes, which has also contributed to the growth of the commercial vehicle rental and leasing market.

Finally, the increasing cost of owning and operating a commercial vehicle has made renting or leasing a more attractive option for many businesses.

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Restraints & Challenges

The key restraints and challenges in the commercial vehicle rental and leasing market include the following:

  1. The high cost of vehicles: The cost of commercial vehicles can be quite high, which can make it difficult for businesses to afford to rent or lease them.
  2. The availability of vehicles: There can be a limited number of vehicles available for rent or lease, which can make it difficult to find the right vehicle for a business needs.
  3. The maintenance of vehicles: Vehicles need to be regularly maintained in order to keep them in good condition. This can be a challenge for businesses, as it can be expensive and time-consuming.
  4. The insurance of vehicles: Vehicles need to be insured in order to be on the road. This can be a challenge for businesses, as the cost of insurance can be high.

Market Segmentation

The Commercial Vehicle Rental and Leasing Market is segmented by lease type, truck capacity, end user, and region. By lease type, it is bifurcated into finance lease and full-service lease.  On the basis of capacity, the market is classified into class 6 and below and Class 7 and above. By on end-use, it is categorized into commercial customers and non-commercial customers. By region, the market is analyzed across North America, Europe, Asia-Pacific, and rest of the world.

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Key Players

The key players in the Commercial Vehicle Rental and Leasing Market are Cruise America, PACCAR Leasing Company, Hertz, Penske Truck Leasing, Ryder, U-Haul, LeasePlan, Sixt, Amerco and Ryder System.

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