United States Truck Leasing & Rental Market to Grow with a CAGR of 6.55% through 2030

Growing demand for logistics flexibility, rising e-commerce-driven last-mile delivery needs, and tax benefits on leased fleets are the factors driving the market in the forecast period 2026–2030.

According to TechSci Research report, “United States Truck Leasing & Rental Market - By Region, Competition Forecast & Opportunities, 2030F”, The United States Truck Leasing & Rental Market was valued at USD 3.63 billion in 2024 and is expected to reach USD 5.32 billion by 2030 with a CAGR of 6.55% during the forecast period.  The United States truck leasing and rental sector is expanding steadily due to various influential factors. Businesses are increasingly favoring leasing and rental options over owning fleets because of high costs associated with vehicle purchase and upkeep. The booming e-commerce and logistics sectors have driven the demand for adaptable and scalable trucking solutions. The use of advanced fleet management technologies, such as telematics and GPS, improves vehicle monitoring and safety, making leasing an appealing choice for organizations seeking better operational oversight.

Current market trends emphasize the adoption of greener transportation alternatives. Growing environmental concerns have accelerated the inclusion of electric and hybrid trucks in leasing services. The integration of smart fleet management technology allows companies to analyze data in real time and conduct predictive maintenance, reducing vehicle downtime and operating expenses. There are substantial growth prospects in offering industry-specific leasing arrangements that cater to unique requirements within sectors like construction, retail, and transportation.

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The United States Truck Leasing & Rental market is segmented into vehicle, end use, booking, propulsion and region.

Light-duty trucks, known for their maneuverability and fuel efficiency, are widely used in urban deliveries, small business operations, and service industries. This segment enjoys steady demand due to the growing last-mile delivery requirements fueled by the expansion of e-commerce. Light-duty trucks offer flexibility and cost-effectiveness, making them a preferred choice for businesses needing frequent short-distance transport. 

Medium-duty trucks represent a significant segment, striking a balance between capacity and operational costs. These vehicles are commonly employed in regional transportation, construction, and utility services. The demand for medium-duty trucks has been on the rise as industries seek reliable and versatile options that can handle moderate loads without incurring the higher expenses associated with heavy-duty trucks. The growing infrastructure projects and an increase in regional logistics activities contribute to the steady growth of this segment.

Heavy-duty trucks, which are designed for long-haul transportation and large cargo loads, continue to hold a dominant position in the market due to their critical role in supply chain and freight movement across vast distances. This segment experiences robust demand driven by industries such as manufacturing, agriculture, and large-scale logistics that require efficient transport of heavy goods. While heavy-duty trucks face challenges related to fuel consumption and maintenance costs, investments in newer, more fuel-efficient models and stricter emission standards are pushing this segment toward modernization and growth. 

The Northeast region also emerged as the major hub for truck leasing and rental services in the U.S. Dense urban centers like New York, Boston, and Philadelphia rely heavily on flexible vehicle access to navigate space constraints and rising last-mile delivery volumes. The Port of New York and New Jersey, among the busiest in the nation, fuels demand for short-haul leasing. Seasonal fluctuations, harsh winters, and infrastructure wear further increase dependency on rentals over ownership. Urban logistics companies prefer short-term leases for fleet scalability amid fluctuating demand, while ongoing infrastructure upgrades encourage contractors to lease heavy-duty trucks rather than purchase outright.

Major companies operating in United States Truck Leasing & Rental Market are:

• Budget Truck Rental
• Enterprise Truck Rental
• Hertz Equipment Rental Corporation (HERC Rentals)
• Idealease, Inc.
• NationaLease
• PacLease (a division of PACCAR)
• Penske Truck Leasing
• Ryder System, Inc.
• U-Haul International, Inc.
• XTRA Lease

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“The industry faces obstacles, including volatile fuel prices and strict regulations regarding emissions and vehicle safety compliance. Repair and maintenance expenses continue to challenge both leasing companies and renters. Increased competition within the market forces providers to prioritize innovation and enhance customer experience. Striking the right balance between cost efficiency and service quality will be essential for long-term market growth, “Said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

"United States Truck Leasing & Rental Market By Vehicle (Light Duty Truck, Medium Duty Truck, Heavy Duty Truck), By End Use (Oil & Gas, Construction, Wholesale & Retail, Logistics, Mining, Others), By Booking (Online, Offline), By Propulsion (ICE, Electric, Others), By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of United States 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 maker stake sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United States Truck Leasing & Rental Market.

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