Truck Rental Market– Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Truck Type (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, 2020-2030F

Market Overview:

Global Truck Rental Market was valued at USD 230.69 Billion in 2024 and is expected to reach USD 342.34 Billion by 2030 with a CAGR of 6.80% during the forecast period. The global truck rental market is experiencing steady growth driven by rising demand for cost-effective and flexible transportation solutions, growing outsourcing of logistics operations by businesses, and the need to reduce capital investments in fleet ownership. The expansion of e-commerce and last-mile delivery services has significantly increased the utilization of rental trucks across various payload capacities, while the integration of telematics, GPS tracking, and fuel management systems is enhancing operational efficiency. For instance, global electric truck sales surged nearly 80% in 2024, reaching 2% of total truck sales, with China leading the market by delivering 75,000 units over 80% of global sales. TCO parity has already been achieved in China for many applications, while Europe and the US are projected to reach it by 2030. Governments are intensifying efforts to cut emissions, with the EU targeting a 45% reduction in truck emissions by 2030 and 90% by 2040. The global market now features more than 800 electric truck models, and 2024 saw the launch of long-range models from major manufacturers, offering over 600 km of driving range.

Market Drivers

Growth of E-Commerce and Last-Mile Delivery

The rapid expansion of e-commerce has significantly increased the need for reliable, flexible, and cost-effective transportation solutions, making truck rental services an attractive option for businesses. With online retail volumes surging, retailers and logistics companies require scalable fleet solutions to meet fluctuating delivery demands without committing to the long-term costs of ownership. Seasonal shopping peaks, such as holiday periods and promotional events, further amplify the need for short-term truck rentals to manage surges in order volumes. This demand extends beyond light-duty vehicles to include medium and heavy-duty trucks for bulk warehouse-to-distribution center movements. Truck rental companies are benefiting from this trend by offering customized leasing packages and digital booking platforms to meet the diverse needs of e-commerce players.  For instance, Global ecommerce sales hit $6.09 trillion in 2024, up 8.4% from 2023, with China and the US contributing over $2.32 trillion in 2023 and mobile commerce expected to hit $2.07 trillion.

Cost Efficiency Over Fleet Ownership

Businesses across industries are increasingly prioritizing operational flexibility and cost optimization, making truck rental a compelling alternative to fleet ownership. The high initial capital expenditure required to purchase trucks, coupled with ongoing costs for insurance, maintenance, fuel, and depreciation, can strain business budgets. Rental solutions shift these costs into predictable operating expenses, allowing companies to allocate capital toward other strategic investments. For companies with seasonal or project-based logistics needs, renting eliminates the financial burden of underutilized vehicles during low-demand periods. The rental model also offers access to newer and more fuel-efficient vehicles without the need for long-term commitments, which can result in lower fuel and maintenance costs. Moreover, rental providers handle compliance with safety regulations, emissions standards, and licensing requirements, further reducing administrative overhead for customers.

Advancements in Fleet Telematics and Tracking

The adoption of advanced telematics systems in rental fleets is transforming the operational efficiency and appeal of truck rental services. Modern telematics integrates GPS tracking, real-time route optimization, driver performance monitoring, and fuel consumption analytics into a single platform, enabling rental providers and customers to maximize fleet productivity. Real-time tracking allows businesses to maintain visibility over goods in transit, improving customer service and ensuring timely deliveries. Predictive maintenance enabled by telematics reduces vehicle downtime by identifying potential issues before they escalate into costly repairs. This technology also supports compliance with safety and environmental regulations by monitoring driver behavior and emissions levels. Rental companies can use telematics data to offer usage-based pricing models, making rentals more cost-effective for customers with variable demand.

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Key Market Challenges

Rising Maintenance and Operating Costs

Truck rental providers face the ongoing challenge of managing rising maintenance and operational costs, which can impact profitability and service pricing. Fleet upkeep involves regular inspections, repairs, and parts replacement to ensure safety and compliance with regulations. As fleets age, maintenance requirements and downtime increase, creating additional financial strain. Fluctuating costs for spare parts and labor further add to these expenses. Fuel price volatility also affects operational budgets, especially for providers offering fixed-rate contracts to clients. The need to invest in modern, fuel-efficient, and low-emission vehicles to meet environmental standards adds another layer of capital expenditure. In highly competitive markets, passing these costs onto customers can be difficult without risking market share.

Compliance with Safety and Emission Regulations

The truck rental industry operates under strict regulatory frameworks governing safety standards, emissions limits, and licensing requirements, creating compliance challenges for providers. Governments around the world are tightening emission norms to curb environmental impact, requiring fleets to adopt cleaner technologies such as Euro VI engines or alternative fuel vehicles. This shift demands substantial capital investment to upgrade or replace older vehicles, which can be financially burdensome, particularly for smaller rental operators. Safety regulations mandate regular inspections, driver qualification checks, and adherence to load capacity limits, adding to administrative and operational responsibilities. Non-compliance can lead to fines, legal liabilities, and reputational damage. The constant evolution of regulations means providers must remain vigilant and proactive in updating fleet specifications and operational procedures.

Key Market Trends

Rise of Digital and On-Demand Rental Platforms

Digital transformation is reshaping the truck rental industry through the rapid adoption of online and app-based booking systems. Customers now expect the ability to reserve, manage, and track rental vehicles in real time through intuitive digital platforms. On-demand rental services allow businesses to access vehicles at short notice, enabling greater flexibility in meeting changing transportation needs. These platforms often integrate telematics and GPS tracking, providing users with route optimization tools, fuel efficiency reports, and real-time delivery updates. Transparent pricing, digital contracts, and automated billing enhance customer convenience while reducing administrative workload for providers. The shift toward contactless rental processes, including keyless vehicle access and mobile verification, further streamlines operations. These digital tools also allow providers to gather valuable usage data, enabling them to tailor offerings and predict demand patterns.

Growing Adoption of Fuel-Efficient and Alternative Fuel Trucks

Sustainability is emerging as a defining trend in the truck rental market, driven by rising environmental awareness and tightening emission standards. Rental providers are incorporating fuel-efficient diesel engines, hybrid systems, and alternative fuel vehicles such as CNG, LNG, and hydrogen-powered trucks into their fleets. This shift helps customers meet corporate sustainability targets and comply with environmental regulations without committing to long-term ownership of green vehicles. Fuel-efficient trucks lower operating costs by reducing fuel consumption, making them attractive to cost-conscious businesses. Alternative fuel options also appeal to companies seeking to enhance brand reputation through eco-friendly practices. Rental companies benefit from offering such options by differentiating their services and attracting environmentally focused clients.

Segmental Insights

End Use Insights

In 2024, the logistics sector emerged as the dominant end-use segment in the global truck rental market, driven by the rapid expansion of e-commerce, increased demand for efficient supply chain operations, and the growing need for flexible transportation solutions. Businesses across manufacturing, retail, and distribution are increasingly relying on rental trucks to manage varying shipment volumes, optimize last-mile delivery, and reduce the capital burden associated with fleet ownership. The rise in just-in-time delivery models has further boosted the need for scalable transport capacity, allowing logistics operators to adapt quickly to market fluctuations without incurring long-term asset commitments.

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Regional Insights

In 2024, North America held the dominant position in the global truck rental market, supported by a well-established logistics infrastructure, high demand for freight transportation, and widespread adoption of technology-driven fleet management solutions. The region’s mature e-commerce sector and extensive road networks have amplified the requirement for rental trucks to meet growing delivery volumes across urban and rural areas. For instance, US eCommerce sales reached $300.05 billion in the third quarter of 2024, marking a 2.8% increase from the previous quarter and a 7.2% rise compared to the same period last year. This brings total eCommerce sales for the first three quarters of 2024 to $879.54 billion. The steady rise in eCommerce has been evident over the past decade, with sales surging 330% from $260.4 billion in 2013 to a record $1.12 trillion in 2023. Businesses in manufacturing, wholesale, and distribution are increasingly opting for rental models to maintain operational flexibility and reduce the costs of owning and maintaining fleets. For instance, Trucking carries roughly 70% of all freight in the U.S., underscoring its vital role in the nation’s logistics and transportation network.

Europe & CIS represented a significant share of the market in 2024, with demand driven by stringent environmental regulations, growing cross-border trade, and the shift toward sustainable and fuel-efficient vehicles. Rental providers in the region are incorporating electric and alternative-fuel trucks into their fleets to meet compliance requirements and attract environmentally conscious customers. The rise of digital rental platforms has streamlined booking and fleet management, making rental services more accessible to a broader range of industries. For instance, in Europe, road freight accounts for around 75% of total inland freight transport, with Germany, Poland, France, Spain, and Italy together handling nearly 60% of the EU’s total road freight tonnage.

Recent Developments

• In 2025, DHL, Daimler Truck, and hylane will deploy 30 Mercedes-Benz eActros 600 long-haul electric trucks under a pay-per-use model, targeting mid-2026 delivery to cut CO₂ emissions in freight transport.
• In 2025, hylane GmbH expanded to the Netherlands with its “pay-per-use” rental model for battery-electric and hydrogen trucks, supported by subsidies covering up to 80% of the diesel–hydrogen cost gap.
• In 2024, Volvo Trucks India showcased its FM 4×2 Electric Highway Tractor Truck at the Bharat Mobility Global Expo, offering a 44-tonne GCW, 540 kWh battery, 250–300 km range, and advanced safety features.
• Palfinger has teamed up with AP Fleet Management to launch a U.S. bucket truck rental program, offering insulated and non-insulated models for utilities, telecom, construction, and municipal work. The service provides flexible terms, eliminates ownership costs, and supports seasonal or short-term projects.

Key Market Players

• Enterprise Holdings, Inc.
• The Hertz Corporation
• Penske; Ryder System, Inc
• Avis Rent A Car System, LLC
• NationaLease
• Daimler Truck AG
• United Rentals, Inc
• Bush Truck Leasing
• Kenworth Sales Company
• Polar Leasing, Inc.

Report Scope:

In this report, the global Truck Rental Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

•           Truck Rental Market, By Truck Type:

o    Light Duty Truck

o    Medium Duty Truck

o    Heavy Duty Truck

•           Truck Rental Market, By End Use:

o    Oil & Gas

o    Construction

o    Wholesale & Retail

o    Logistics

o    Mining

o    Others

•           Truck Rental Market, By Booking:

o    Online

o    Offline

•           Truck Rental Market, By Propulsion:

o    ICE

o    Electric

o    Others

•           Truck Rental Market, By Region:

o    North America

§  United States

§  Canada

§  Mexico

o    Europe & CIS

§  Germany

§  France

§  U.K.

§  Spain

§  Italy

o    Asia-Pacific

§  China

§  Japan

§  India

§  Vietnam

§  South Korea

§  Australia

§  Thailand

o    Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

o    South America

§  Brazil

§  Argentina

§  Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the global Truck Rental Market.

Available Customizations:

Global Truck Rental Market report with the given market data, TechSci Research offers customizations according to the 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).

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