United Kingdom Truck Leasing And Rental Market To Be Driven With An Impressive CAGR
Growing
demands for freight movement facilitates the United Kingdom Truck Leasing And
Rental Market growth in the future years.
According to TechSci report on, “United
Kingdom Truck
Leasing And Rental Market - By
Region, Competition Forecast & Opportunities, 2027”. United
Kingdom truck leasing and rental market may flourish with an impressive CAGR
during the forecast period of 2023-2027, on the backbone of growing demand for
the efficient rental and leasing services. Growing demand for the heavy duty
trucks for the transportation of large amount of the goods drive the growth of
the United Kingdom truck leasing and rental market in the upcoming five years.
Growth in the internet penetration, online available rental services, efficient
mobile apps also play a vital role in the growth of the United Kingdom truck leasing
and rental market in the future years. Rising technological advancement along
with the research for the service development along with growing advancement in
the trucks like AI monitoring, internet of things, GPS monitoring of the
trucks, also actively drive the growth of the United Kingdom truck leasing and
rental market in the next five years. Additionally, factors like increasing
vehicle sales, government announced safety norms regarding COVID protection and
sanitizing regulations, coupled with growing demand for the safe vehicles for
the transport services are some of the major factors aiding the growth of the
United Kingdom truck leasing and rental market in the future five years.
Growing
demands for the electric vehicles and rising concerns over environmental
degradation further aids the growth of the United Kingdom truck leasing and rental market in the forecast years. Electric
vehicles are quite popular in the country and their demands are rapidly
increasing with the rising awareness regarding the toxic exhaust from the
traditional automotives combusting petroleum product to fuel the vehicles. The
advanced electric vehicles launched in the market have internet enabled
functions that substantiates the demand and the growth of the United Kingdom truck
leasing and rental market in the forecast period.
Browse over XX market data Figures
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and Rental Market"
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The
United Kingdom truck leasing and rental market is segmented by type, truck
type, booking, end use industry, competitional landscape, and regional
distribution. Based on type, the market is differentiated between leasing and
rental. Rental services are anticipated to hold the largest revenue shares of
the market and dominate the market segment in the upcoming five years on the
ground of increasing demands from the medium and small businesses. Shirt
distance and short time span services drive the segmental growth in the next
five years. Moreover, the rental services also gain growth due to increasing
number of small and medium businesses thereby supporting the growth of the
United Kingdom truck leasing and rental market in the future five years.
By
truck type, the market is further segmented into light duty, medium duty, and
heavy duty. Heavy duty trucks may lead the market segment and hold the largest
revenue shares of the market due to increasing freight movement through the
bordering states and regions in the country. Based on booking, the market is
distinguished between online and offline. Offline booking is anticipated to
hold the largest revenue share to lead the market growth due to traditional
methods of hiring the services. Also, businesses believe in more documented
services to insure the safe transport. Online bookings are expected to register
fast growth and fast CAGR in the upcoming five years due to growing penetration
of the internet based services.
By
end use industry, the market is bifurcated into oil & gas, FMCG,
e-commerce, mining, construction, and others. The market analysis also studies
the regional segmentation to devise regional market segmentation, divided among
London, East Anglia, Southwest, Southeast, Scotland, East Midlands, and Yorkshire
& Humberside.
A
partial list of major market players of the United Kingdom truck leasing and
rental market includes :
·
Centurion Truck Rental
·
Nationwide Hire UK
·
Fraikin Limited
·
Europcar International S.A.S.U.\
·
Ryder System, Inc.
·
Mac’s Truck (Rental Leasing Co Ltd)
·
Dawsongroup plc
·
Hexagon Leasing Limited
·
MC Group
·
Eurotrail UK Limited
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“Rising demand for the highly professional and efficient truck rental
services coupled with the growing sales of the commercial vehicle are
anticipated to drive the growth of the Untied Kingdom truck leasing and rental
market in the upcoming five years. Although the industry suffered drastically
due to pandemic, reinstatement of the services is anticipated to support the
future growth. Also, rising investment and technological advancement in the truck
leasing and rental services are also responsible for the market growth. New
market players may invest in the research along with introducing innovative
product range to influence the consumers that would help in their brand
establishment,” said Mr. Karan Chechi, Research Director with TechSci Research,
a research based global management consulting firm.
“United Kingdom Truck
Leasing And Rental Market By Type (Leasing, Rental), By Truck Type (Light Duty,
Medium Duty, Heavy Duty), By Booking (Online, Offline), By End Use Industry
(Oil & Gas, FMCG, E-Commerce, Mining, Construction, Others), By Region,
Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of United
Kingdom truck leasing and rental market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in United Kingdom truck leasing and rental market.
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