Keep on trucking: Revenue is expected to continue rising thanks to sustained demand

The Truck Rental and Leasing industry has grown over the past five years. Overall, industry revenue is expected to increase at a compound annual rate of 3.7% over the five years through 2018-19 to £2.8 billion. This can largely be attributed to rising demand from road freight transport operators. Demand for industry services rose in line with an overall increase in disposable income, which supported increased spending on goods. However, in the latter half of the period, subdued economic conditions are expected to weigh on industry growth as low consumer spending limits road freight volumes. Nevertheless, downstream firms are expected to prefer renting and leasing trucks over making large capital investments by directly purchasing vehicles, supporting continued more.

Industry Statistics & Market Size
Annual Growth 14-19
Forecast Growth 19-24

Industry Threats & Opportunities

  • Increased spending on goods has supported growth in demand for truck rental and leasing
  • Strong demand has supported growth in industry enterprise and employment numbers
  • Operators are expected to increase the number of smaller vehicles they offer
  • Industry Report - Industry Investment Chapter

    Due to the large number and high value of trucks and trailers required by rental firms, capital requirements are a significant factor for the industry. IBISWorld estimates the capital-to-labour of 1:0.35, which means that for every £1.00 operators spend on capital, 35p is spent on wages. This indicates that the industry is heavily reliant on capital, making it highly susceptible to economic conditions.Under current EU emission standards, vehicles need to be replaced to make sure they comply with emission targets. This means that industry operators spend large amounts on purchasing new compliant trucks. However, capital spending could decline over the next five years if operators are no longer required to update their fleets once the United Kingdom leaves the European Union. How...purchase to read more.

    Additional Insights for the Truck Rental & Leasing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Truck Rental & Leasing Industry are

  • Ability to accommodate environmental requirements
  • Access to secure revenues
  • Economies of scale
  • IBISWorld analysts also discuss how external factors such as Demand from freight road transport and Consumer confidence index in the Truck Rental & Leasing industry impact industry performance..

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    What's in this report

    What is the Truck Rental & Leasing Industry?

    Firms in this industry rent and lease trucks and motor vehicles weighing more than 3.5 tonnes. The industry includes the renting or leasing of heavy goods vehicles or trucks with drivers.

    Industry Products
  • Trucks weighing 3.5 to 7.49 tonnes
  • Trucks weighing 7.5 tonnes only
  • Trucks weighing 7.51 to 18 tonnes
  • Trucks weighing 18.1 to 32 tonnes
  • Trucks weighing 32.1 tonnes and over
  • Industry Activities
  • Renting trucks
  • Leasing trucks
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from freight road transport
  • Consumer confidence index
  • Industrial production index
  • Business confidence index
  • Value of goods imports

  • Current Performance
  • Contract options
  • Solid growth
  • Trucking onwards
  • Environmental concerns
  • Chart: Revenue Growth

  • Industry Outlook
  • Fuelling growth
  • Restrictions and legislation
  • Profit performance
  • Table: Truck Rental & Leasing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Truck Rental & Leasing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Meat Product Manufacturing
  • Commercial Building Construction

  • Key Selling Industries
  • Motor Vehicle Maintenance & Repair
  • Other Motor Vehicle Sales

  • Products & Services
  • Trucks weighing 32.1 tonnes and over
  • Trucks weighing 7.5 tonnes only
  • Trucks weighing 7.51 to 18 tonnes
  • Trucks weighing 3.5 to 7.49 tonnes
  • Trucks weighing 18.1 to 32 tonnes
  • Chart: Truck Rental & Leasing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Retailing, wholesaling and distributing industries
  • Manufacturing industries
  • Construction industries
  • Mining, petrol and chemical industries
  • Other industries
  • Chart: Major Market Segmentation for the Truck Rental & Leasing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitDepreciationPurchasesWagesOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Truck Rental & Leasing

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Truck Rental & Leasing Industry

  • Industry Globalization
    Ryder Limited, Dawsongroup plc,
  • Table: Ryder Limited - financial performance
  • Table: Dawsongroup plc - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Truck Rental & Leasing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Truck Rental & Leasing Industry
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • An agreement under which property is leased back to a recent seller.
  • Rigids
  • Lorries over 3.5 tonnes that have a solid, connected frame.
  • Tractor Unit
  • A heavy-duty commercial vehicle with several axles. The tractor unit moves the trailer, which can easily be changed to suit the load.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Truck Rental & Leasing market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Truck Rental & Leasing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Truck Rental & Leasing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Truck Rental & Leasing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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