Summary

The United Kingdom truck leasing and rental market is expected to grow at a formidable CAGR during the forecast period, 2023-2027. The market growth can be attributed to the rising demand for truck leasing and rental from various end-user industries, owing to rapid industrialization and urbanization activities. Besides, expanding construction sector and high demand for truck leasing and rental from retail industries are also anticipated to fuel the market growth. The cost-effectiveness of truck leasing and rental is another factor leading to their massive adaptation in the country. Leasing or renting a truck to fulfill customer requirements eliminates the high capital required for purchasing trucks and maintenance costs associated with it. Thus, small and mid-scale industries prefer to opt for truck leasing and rental rather than investing in expanding the vehicle fleet. Besides, fluctuating fuel prices and changing government norms and regulations related to vehicular emissions are influencing companies to prefer rental and leasing truck services. Expanding commercial sector and increasing personal disposable income fuel the market growth. Rapid digitalization has been increasing the availability of the instant booking of trucks, which is expected to drive the United Kingdom truck leasing and rental market.
The United Kingdom truck leasing and rental market is segmented on the basis of type, truck type, booking, end use industry, competitional landscape, and regional distribution. Based on type, the market is differentiated between leasing and rental. The rental segment is expected to dominate the United Kingdom truck leasing and rental market owing to the rising demand for truck leasing and rental services from small and medium business enterprises. Based on the truck type, the market is further segmented into light duty, medium duty, and heavy duty. The heavy duty truck segment is anticipated to hold the largest share in the market owing to increasing freight movement through bordering states and regions in the country.
Major players operating in the United Kingdom truck leasing and rental market are Centurion Truck Rental, Nationwide Hire UK, Fraikin Limited, Europcar International S.A.S.U., Ryder System, Inc., Mac’s Truck (Rental Leasing Co Ltd), Dawsongroup plc., Hexagon Leasing Limited, MC Group, Eurotrail UK Limited, among others.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022E
Forecast Period: 2023F–2027F
Objective of the Study:
• To analyze the historical growth in the market size of the United Kingdom truck leasing and rental market from 2017 to 2021.
• To estimate and forecast the market size of United Kingdom truck leasing and rental market from 2022 to 2027 and growth rate until 2027.
• To classify and forecast the United Kingdom truck leasing and rental market based on type, truck type, booking, end use industry, region, and company.
• To identify the dominant region or segment in the United Kingdom truck leasing and rental market.
• To identify drivers and challenges for the United Kingdom truck leasing and rental market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc. in the United Kingdom truck leasing and rental market.
• To identify and analyze the profiles of leading players operating in the United Kingdom truck leasing and rental market.
• To identify key sustainable strategies adopted by market players in United Kingdom truck leasing and rental market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of the United Kingdom truck leasing and rental market using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
• Truck leasing and rental service providers
• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums, and alliances related to truck leasing and rental
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, United Kingdom truck leasing and rental market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• United Kingdom Truck Leasing and Rental Market, By Type:
o Leasing
o Rental
• United Kingdom Truck Leasing and Rental Market, By Truck Type:
o Light Duty
o Medium Duty
o Heavy Duty
• United Kingdom Truck Leasing and Rental Market, By Booking:
o Online
o Offline
• United Kingdom Truck Leasing and Rental Market, By End Use Industry:
o Oil & Gas
o FMCG
o E-Commerce
o Mining
o Construction
o Others
• United Kingdom Truck Leasing and Rental Market, By Region:
o London
o East Anglia
o Southwest
o Southeast
o Scotland
o East Midlands
o Yorkshire & Humberside
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in United Kingdom truck leasing and rental 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).

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