Europe Medium and Heavy-Duty Truck Rental and Leasing Market By Booking Type (Offline Booking, Online Booking), By Rental Type (Short-Term Leasing, Long-Term Leasing), By End-Use Industry (FMCG, Construction, Corporate, E-Commerce), By Country, Competition Forecast & Opportunities, 2018-2028

  • Industry : Automotive
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

Europe Medium and Heavy-Duty Truck Rental and Leasing Market is expected to grow in the forecast period 2023F-2028F. The factors propelling the demand for medium & heavy-duty trucks rental & leasing market across the various countries in the European region include better service, various products, or lower costs, rental and competitive advantages. Several end-user sectors prefer truck rental leasing due to cost effectiveness and additional advantages including lower maintenance and wear costs, which helps companies run their businesses more effectively. The COVID-19 pandemic has made this trend worse as businesses that have been severely impacted prefer to use truck rental and leasing services rather than purchase new vehicles. In order to address the growing needs of consumers, major industry participants are pursuing efforts like fleet expansion and partnership.

Many countries have targeted the zero-emission sales of medium & heavy trucks by 2030, and Norway's government has targeted sales of zero-emission electric trucks by 2030. Also, many truck manufacturing companies have focused on manufacturing electric trucks by seeing the demand in the market.

Shortage Of Drivers

As per a survey by the IRU, the number of open truck driver positions in Europe increased by 42% between 2020 and 2021, reaching 71,000 in Romania, 80,000 in Poland and Germany, and 100,000 in the United Kingdom. According to information released by Dutch bank ABN Armo, Germany faced an 80,000-truck driver shortage in 2021. As more than 30,000 truck drivers retire each year while just 15,000 new ones take the wheel, the shortfall has been worse over the past several years. Germany's scarcity will get more severe. A 40,000-truck driver shortfall would exist in France by 2021. The lack of drivers is a result of several problems.


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Increasing Number of Electric Vehicles Helps in Fleet Management 

As the demand for leased and rental vehicles increases in many countries of the European region, the demand for medium & heavy vehicles also increases. Many companies’ fleet managers are closely monitoring the demand for electric trucks as electric vehicle technology is becoming increasingly viable for commercial trucking. Many truck manufacturing companies such as ISUZU, Volvo, etc. have started to invest heavily in developing the medium & heavy-duty range of trucks. By having many options in electric vehicles in the rental and leasing market, the demand for vehicles for customers can be fulfilled at the time. By 2050, switching all the trucks in the European Union from diesel to hybrid or all-electric power may reduce the region's dependence on foreign oil by up to 11 billion barrels, or even more than two years' worth of purchases. As spending on oil declines over the ensuing decades, switching to effective, zero-emission trucks might help promote steady economic growth. Through incentives and rebates, the governments may use these savings to develop EV trucks in their various nations. These long-term benefits enable leasing and rental companies to increase their product options while also raising consumer awareness of fuel-efficient trucks. With the increase in the adoption of electric medium & heavy trucks in many European countries, the rental and leasing market across the European region will also expand.

Adoption of Technological Advancements to Enhance Consumer Satisfaction

The need for fleet management systems is rising because of the requirement to enhance the efficient operation of vehicle fleets, monitor driver and vehicle movement, and guarantee accurate registration of all vehicle-related operations. Additionally, the incorporation of fleet management software permits the users to effectively manage the truck fleet, keep track of who enters and exits trucks, and keep an eye on the driver- and vehicle-related actions. By using telematics technology in the context of renting and leasing, businesses may stand out from the competition for both present and potential customers. Some significant businesses have made the required preparations in this regard to secure a competitive advantage in the Europe medium and heavy-duty truck Rental and Leasing market. 

Market Segmentation

The Europe Medium and Heavy-Duty Truck Rental and Leasing Market is segmented based on booking type, rental type, end-user industry, country, and competitional landscape. Based on booking, the market is further fragmented into online booking and offline booking. Based on rental type, the market is segmented into short-term leasing and long-term leasing. In terms of end-use industry, the market is divided into FMCG, construction, corporate, E-Commerce.

Company Profiles

Tip Trailer Services Germany Gmbh, United Rental Inc, Penske Truck Leasing, Paccar Leasing Gmbh (paccar Inc.), Heisterkamp Truck Rental, Easy Rent Truck and Trailer Gmbh, Man Financial Services/euro-leasing, Ryder Group, Fraikin, Natixis Lease, are among the major market players in the Europe Medium and Heavy-Duty Truck Rental and Leasing Market.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion and CAGR for 2018-2021 and 2023E-2028F

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

By Booking Type

By Rental Type

By End Use Industry

By Country

Regional Scope

Europe

Country Scope

France, Spain, Norway, Germany, Austria, Italy, United Kingdom, Belgium

Key Companies Profiled

Tip Trailer Services Germany Gmbh, United Rental Inc, Penske Truck Leasing, Paccar Leasing Gmbh (paccar Inc.), Heisterkamp Truck Rental, Easy Rent Truck and Trailer Gmbh, Man Financial Services/euro-leasing, Ryder Group, Fraikin, Natixis Lease.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

Report Scope:

In this report, the Europe Medium and Heavy-Duty Truck Rental and Leasing Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Europe Medium and Heavy-Duty Truck Rental and Leasing Market, By Booking Type:

  • Offline Booking
  • Online Booking

Europe Medium and Heavy-Duty Truck Rental and Leasing Market, By Rental Type:

  • Short-Term Leasing
  • Long-Term Leasing

Europe Medium and Heavy-Duty Truck Rental and Leasing Market, By End User Industry:

  • FMCG
  • Construction
  • Corporate
  • E-Commerce

Europe Medium and Heavy-Duty Truck Rental and Leasing Market, By Country:

  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Austria
  • Belgium
  • Norway

·      Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Europe Medium and Heavy-Duty Truck Rental and Leasing Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Europe Medium and Heavy-Duty Truck Rental Leasing Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Market Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Europe Medium and Heavy-Duty Truck Rental and Leasing Market

4.1.  Impact Assessment Model      

4.1.1.     Key Segments Impacted

4.1.2.     Key Countries Impacted

4.1.3.     Key Distribution Channel Impacted

5.    Voice of Customer

5.1.  Brand Awareness

5.2.  Factors Influencing Purchase Decision

5.3.  Brand Satisfaction Level

6.    Europe Medium and Heavy-Duty Truck Rental and Leasing Market Outlook, 2018-2028F

Market Size & Forecast

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1.     By Booking Type Market Share Analysis (Offline Booking, Online Booking)

6.2.2.     By Rental Type Market Share Analysis (Short-Term Leasing, Long-Term Leasing)

6.2.3.     By End-Use Industry Market Share Analysis (FMCG, Construction, Corporate, E-Commerce)

6.2.4.     By Country Market Share Analysis

6.2.5.     By Company Market Share Analysis (By Value, 2022)

6.3.  Europe Medium and Heavy-Duty Truck Rental and Leasing Market Mapping & Opportunity Assessment

6.3.1.     By Booking Type Market Mapping & Opportunity Assessment

6.3.2.     By Rental Type Mapping & Opportunity Assessment

6.3.3.     By End-Use Industry Mapping & Opportunity Assessment

6.3.4.     By Country Mapping & Opportunity Assessment

7.    Germany Medium and Heavy-Duty Truck Rental and Leasing Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Volume and Value

7.2.  Market Share & Forecast

7.2.1.     By Booking Type Market Share Analysis

7.2.2.     By Rental Type Market Share Analysis

7.2.3.     By End-Use Industry Market Share Analysis

8.    United Kingdom Medium and Heavy-Duty Truck Rental and Leasing Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Volume and Value

8.2.  Market Share & Forecast

8.2.1.     By Booking Type Market Share Analysis

8.2.2.     By Rental Type Market Share Analysis

8.2.3.     By End-Use Industry Market Share Analysis

9.    France Medium and Heavy-Duty Truck Rental and Leasing Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Volume and Value

9.2.  Market Share & Forecast

9.2.1.     By Booking Type Market Share Analysis

9.2.2.     By Rental Type Market Share Analysis

9.2.3.     By End-Use Industry Market Share Analysis

10.  Spain Medium and Heavy-Duty Truck Rental and Leasing Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Volume and Value

10.2.              Market Share & Forecast

10.2.1.  By Booking Type Market Share Analysis

10.2.2.  By Rental Type Market Share Analysis

10.2.3.  By End-Use Industry Market Share Analysis

11.  Italy Medium and Heavy-Duty Truck Rental and Leasing Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Volume and Value

11.2.              Market Share & Forecast

11.2.1.  By Booking Type Market Share Analysis

11.2.2.  By Rental Type Market Share Analysis

11.2.3.  By End-Use Industry Market Share Analysis

12.  Austria Medium and Heavy-Duty Truck Rental and Leasing Market Outlook

12.1.              Market Size & Forecast

12.1.1.  By Volume and Value

12.2.              Market Share & Forecast

12.2.1.  By Booking Type Market Share Analysis

12.2.2.  By Rental Type Market Share Analysis

12.2.3.  By End-Use Industry Market Share Analysis

13.  Belgium Medium and Heavy-Duty Truck Rental and Leasing Market Outlook

13.1.              Market Size & Forecast

13.1.1.  By Volume and Value

13.2.              Market Share & Forecast

13.2.1.  By Booking Type Market Share Analysis

13.2.2.  By Rental Type Market Share Analysis

13.2.3.  By End-Use Industry Market Share Analysis

14.  Norway Medium and Heavy-Duty Truck Rental and Leasing Market Outlook

14.1.              Market Size & Forecast

14.1.1.  By Volume and Value

14.2.              Market Share & Forecast

14.2.1.  By Booking Type Market Share Analysis

14.2.2.  By Rental Type Market Share Analysis

14.2.3.  By End-Use Industry Market Share Analysis

15.  Market Dynamics

15.1.              Market Drivers

15.2.              Market Challenges

16.  Market Trends & Developments

17.  Porter’s Five Forces Model

17.1.              Competitive Rivalry

17.2.              Bargaining Power of Buyers

17.3.              Bargaining Power of Suppliers

17.4.              Threat of New Entrants

17.5.              Threat of Substitutes

18.  Competitive Landscape

18.1.              Competition Outlook

18.2.              Company Profiles

18.2.1.  Tip Trailer Services Germany Gmbh

18.2.1.1.      Company Details

18.2.1.2.      Products & Services

18.2.1.3.      Financial (As Reported)

18.2.1.4.      Recent Development

18.2.1.5.      Key Management Personnel

18.2.2.  United Rental Inc

18.2.2.1.      Company Details

18.2.2.2.      Products & Services

18.2.2.3.      Financial (As Reported)

18.2.2.4.      Recent Development

18.2.2.5.      Key Management Personnel

18.2.3.  Penske Truck Leasing

18.2.3.1.      Company Details

18.2.3.2.      Products & Services

18.2.3.3.      Financial (As Reported)

18.2.3.4.      Recent Development

18.2.3.5.      Key Management Personnel

18.2.4.  Paccar Leasing Gmbh (paccar Inc.)

18.2.4.1.      Company Details

18.2.4.2.      Products & Services

18.2.4.3.      Financial (As Reported)

18.2.4.4.      Recent Development

18.2.4.5.      Key Management Personnel

18.2.5.  Heisterkamp Truck Rental

18.2.5.1.      Company Details

18.2.5.2.      Products & Services

18.2.5.3.      Financial (As Reported)

18.2.5.4.      Recent Development

18.2.5.5.      Key Management Personnel

18.2.6.  Easy Rent Truck And Trailer Gmbh

18.2.6.1.      Company Details

18.2.6.2.      Products & Services

18.2.6.3.      Financial (As Reported)

18.2.6.4.      Recent Development

18.2.6.5.      Key Management Personnel

18.2.7.  Man Financial Services/euro-leasing

18.2.7.1.      Company Details

18.2.7.2.      Products & Services

18.2.7.3.      Financial (As Reported)

18.2.7.4.      Recent Development

18.2.7.5.      Key Management Personnel

18.2.8.  Ryder Group

18.2.8.1.      Company Details

18.2.8.2.      Products & Services

18.2.8.3.      Financial (As Reported)

18.2.8.4.      Recent Development

18.2.8.5.      Key Management Personnel

18.2.9.  Fraikin

18.2.9.1.      Company Details

18.2.9.2.      Products & Services

18.2.9.3.      Financial (As Reported)

18.2.9.4.      Recent Development

18.2.9.5.      Key Management Personnel

18.2.10.                Natixis Lease

18.2.10.1.    Company Details

18.2.10.2.    Products & Services

18.2.10.3.    Financial (As Reported)

18.2.10.4.    Recent Development

18.2.10.5.    Key Management Personnel

19.  Strategic Recommendations/Action Plan

19.1.              Key Focus Areas

19.2.              Target Regions & Countries

19.3.              Target Retal Type

19.4.              Target End Use Industry

Figures and Tables

Frequently asked questions

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A truck lease and rental agreement is a legal contract between the vehicle owner and the leasing company. In that agreement there are terms and conditions which includes the monthly costs, restrictions, additional fees, length of the lease and more.

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The challenges faced by leasing and rental companies in Saudi Arabia are due to overseas travellers there are driving challenge, leasing company faces complex booking & pricing management issues. One of the main challenges faced by the leasing company is that to improve the customer service and transparency.

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Customers must pay monthly lower payment, lower repair cost, also customer can get a new truck every few years hassle-free, and have more option to choose new medium and heavy-duty trucks, etc.

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Some of the major companies in the market are Tip Trailer Services Germany Gmbh, United Rental Inc, Penske Truck Leasing, Paccar Leasing Gmbh, Heisterkamp Truck Rental, Man Financial Services/Euro-Leasing, etc.

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Srishti Verma

Business Consultant
Press Release

United Kingdom to lead Europe Medium & Heavy-Duty Truck Rental/Leasing Market

Dec, 2022

The rising emission standards across major countries in Europe and growing investments by the key players to support the growth of the Europe Medium & Heavy-Duty Truck Rental/Leasing Market.

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