Iran Truck Leasing & Rental Market to be dominated by Oil & Gas Industry through 2027
Digitization of the truck leasing & rental services and high
cost of truck ownership are expected to drive the demand for Iran truck leasing
& rental market in the forecast period, 2023-2027.
According
to TechSci Research report, “Iran Truck Leasing & Rental Market By Region,
Competition Forecast & Opportunities, 2027”,
the Iran truck leasing & rental
market is anticipated to grow at a rate of steady CAGR for the forecast period,
2023-2027. Factors such as the growing e-commerce industry and the need to
optimize the operational risks while driving trucks drive the market demand.
Also, the truck leasing & rental service are working to improve the
services relating to diagnostic technologies and applications that can generate
real-time insights about the performance of the truck are expected to create
lucrative growth opportunities for the Iran truck leasing & rental market
in the forecast period.
However,
the lack of sufficient truck leasing and rental service providers and cost and
operational difficulties may restrain the market growth in the forecast period.
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The Iran truck leasing & rental market
is segmented into type, lease type, truck type, end use industry, booking,
vehicle type, regional distribution, and competitive landscape.
Based on type, the market is divided
into lease and rental. The leasing type is expected to account for a
significant market share in the forecast period, 2023-2027. Time duration is
long in leasing as compared to rental services. The majority of the big
companies have strong budgets to acquire new vehicles and technologies to
sufficiently provide for the company's requirements. Leasing a truck lowers the
maintenance and operational costs. They also lower the risks from the seasonal
transportation demands and provide cost-effective solutions to the end-user
companies.
Based on lease type, the market is
divided into the financial lease, full service/operational lease, and
third-party lease. The full service/operational lease segment is expected to
hold the largest market share in the forecast period. Leasing or booking trucks
with full services eliminate the servicing, maintenance, and replacement cost.
Based on truck type, the market is
divided into light duty, heavy duty, and medium duty. Heavy duty truck
dominates the market and is expected to maintain their dominance through the
next five years. Growing regulations on the vehicle emissions, logistics, and
the retail and e-commerce industry are driving the demand for heavy duty
trucks.
Based on end use industry, the market is
divided into oil & gas, FMCG, e-commerce, mining, construction, and others.
The oil & gas industry is expected to capture the highest market share in
the forecast period. The oil & gas industry is the largest
revenue-generating industry in the country. Oil & gas reserves are
extracted and transported to other locations for processing by using the
trucks, as the construction of pipelines is not feasible at every location.
Based on booking, the market is
bifurcated into offline and online. The offline segment is expected to hold the
largest market share in the forecast period. The presence of a large number of
offline stores providing truck leasing and rental services is driving the
segment demand.
Major market players operating in the Iran
truck leasing & rental market are:
- Europcar Bandar Abbas
- Iran Trucking
- Fars Transport
- EramTarabar Int'l Transport Co
- Partnik
- Nik Tak Co. Ltd.
- TLM Logistics
- RWT
- Khadem Logistics
- Arnica mehr Kish co.
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“Growing smartphone penetration and
availability of high-speed internet connection has increased the dependency on
technology to pay for and book rental services, which is expected to create
numerous growth opportunities for the market players. Adoption of online sales
channels by the market players has increased their presence across remote
locations and made the consumer aware of the benefits of availing of truck
services. Consumers are looking for truck leasing and rental services at
affordable rates and can easily avail the services by comparing the prices and
choosing the best option for them. An increase in the number of market players
providing services on online sales channel and a shift in consumer preference
to buy through online platforms is expected to propel the Iran truck leasing
& rental market growth till 2027” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“Iran Truck Leasing &
Rental Market By Type (Lease, Rental), By Lease Type (Financial Lease, Full Service/Operational
Lease, Third Party Lease), By Truck Type (Lighuty, 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 Iran 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 Iran truck leasing & rental market.
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