Industry Analysis & Industry Trends
The Truck Rental and Leasing industry has recovered strongly in recent years, having exhibited growth in each year since 2012-13. A faltering economic recovery reduced road freight volumes in the United Kingdom towards the start of the period, meaning fewer trucks were required and the potential market for the industry shrank. Nevertheless, economic uncertainty encouraged several firms to rent or lease vehicles, rather than making large capital investments by directly purchasing the vehicles themselves. Although industry revenue has been somewhat volatile, it is expected to grow at a compound annual rate of 6.1% over the five years through 2016-17 to reach £2.4 billion. In the current year, revenue is estimated to grow by 3.9%... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Truck Rental and Leasing industry is estimated to be in the mature stage of its life cycle. Industry value added is expected to grow at a compound annual rate of 4.8% over the decade through 2021-22. This is higher than the UK’s estimated GDP growth of 2.3% over the same period. However, this strong growth is partly a result of the low base that the industry grew from at the beginning of the period and volatile operating conditions for the industry. Stable growth in the coming years suggests that the industry is in fact in the mature stage of its life cycle rather than the growth stage.
Total freight volumes are expected to grow slowly over the coming years, facilitating demand for the renting and leasing of trucks. Thi.. purchase to read more