China Truck Leasing & Rental Market May Grow With Rising Concerns Toward Environment
The China
Truck Leasing & Rental Market may register growth with higher freight
movement service demands in the future years.
According to TechSci report on, “China
Truck
Leasing & Rental Market - By
Region, Competition Forecast & Opportunities, 2027”. China
truck leasing & rental market may flourish with an impressive CAGR during
the forecast period of 2023-2027, on the backbone of growing concerns regarding
environment. Increasing sales of trucks would further increase the on-road
trucks and the pollution levels are expected to skyrocket that will disturb the
environment and release toxic exhaust thus use of leased
vehicles and rental trucks would decrease the number of on-road vehicles
significantly thus driving the growth of the China truck leasing & rental
market in the upcoming five years. Expanding construction industry, automotive
industry, and growing demand from the retail industry for the efficient retail
product transportation drives the growth of the China truck leasing &
rental market in the next five years. Growing demands from the end use
industries is a major factor aiding the market growth. With rapid adoption of
online services, digital platforms to book the rental service, efficient
payment channels through online pathways, etc. also facilitate the growth of
the China truck leasing & rental market in the future five years. Almost
100% digitized services, increasing penetration of smart phones among the
population and better internet connectivity further support the growth.
Inclusion
of technologies in the trucks such as AI monitoring, internet of things, GPS
monitoring of the trucks, also fuels the growth of the China truck leasing
& rental market in the forecast years through 2027F. Furthermore, factors
like 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 China truck leasing & rental market in the
forecast period.
Browse over XX market data Figures
spread through 70 Pages and an
in-depth TOC on "China Truck leasing & rental Market"
The
China truck leasing & rental market is segmented by type, lease type, truck
type, end use industry, booking, vehicle type, competitional landscape, and
regional distribution. Based on type, the market is differentiated between
lease and rental. By lease type, the market is bifurcated
into financial lease, full service/operational lease, and third party lease.
Based on truck type, the market is fragmented into light duty, heavy duty, and
medium duty. Heavy duty trucks are anticipated to hold the largest revenue
shares of the market and dominate the market segment in the upcoming five years
due to increasing demands from the consumer goods & retail industry. Higher
loads of truck commute drives the market segment. Moreover, light duty trucks
are also expected to hold significant shares due to increasing demands from the
small and medium enterprises demanding for shorter distance freight movements
thereby increasing the growth of the China truck leasing & rental market in
the next five years.
By
end use industry, the market is further segmented into oil & gas, FMCG,
e-commerce, mining, construction, and others. Oil & gas end use industry is
anticipated to hold the largest revenue shares of the market and dominate the
market segment in the upcoming five years due to surging demands for the oil
& gas generated energy. Growing energy consumption and increasing imports
& exports further aid the growth of the China truck leasing & rental
market in the future five years. FMCG industry is also anticipated to hold significant
revenue shares of the market due to increasing demands for the freight
movement. Rising adaption of technology coupled with evolving shopping
behaviors and e-commerce sector further aid to the segmental growth and the
growth of the China truck leasing & rental market in the forecast years
through 2027F.
Based
on booking, the market is distinguished between online and offline. By vehicle
type, the market is differentiated into fully build and customizable. The
market analysis also studies the regional segmentation to devise regional
market segmentation, divided among Western Region, Northern and Central Region,
Eastern Region, Southern Region.
A
partial list of major market players of the China truck leasing & rental
market includes:
- Diversified Truck Leasing.
- Valley Truck Leasing Inc.
- Idealease, Inc.
- Tricon Leasing Group L.L.C.
- TruckRental.WS
- Aim Transportation Solutions
- Airoldi Brothers
- Kris Way Truck Leasing
- TruckRental.WS
- UPack
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“The Chinese government’s initiatives aimed at limiting the number of
vehicles has greatly increased the demand for truck leasing and rental to
facilitate the transportation sector. Expanding automotive industry and easier
facilitation of the internet based service avail drives the market growth in
the country. Higher dependency on the by road transportation of the products
and efficient tracking services of the goods also adds value to the growth of
the China truck leasing & rental market in the future five years.,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“China
Truck Leasing & Rental Market By Type (Lease, Rental), By Lease Type
(Financial Lease, Full Service/Operational Lease, Third Party Lease), By Truck
Type (Light Duty, Heavy Duty, Medium Duty), By End Use Industry (Oil & Gas,
FMCG, E-Commerce, Mining, Construction, Others), By Booking (Online, Offline),
By Vehicle Type (Fully Build, Customizable), By Region, Competition Forecast
& Opportunities, 2027” has
evaluated the future growth potential of China truck leasing & 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 China truck leasing & rental market.
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