Europe Medium And Heavy Duty-Truck Rental Leasing Market | 2022-27

 

Market Overview:

In 2021, the rental and leasing market for medium and heavy-duty trucks in Europe was valued at USD 59.24 billion. By 2027, it is anticipated to generate USD 85.95 billion, representing a CAGR of 6.20% in revenue (2022–2027).

The COVID-19 pandemic hindered market expansion throughout the European continent in 2020 as lockdowns and plant closures caused delays in the transportation industry and the closure of small and medium-sized businesses. However, as restrictions loosened, a number of logistic companies changed their emphasis from purchasing new trucks to renting and leasing existing medium- and heavy-duty trucks in order to reduce initial costs. Such market trends are likely to persist and provide the market with long-term, rosy growth.

Scope of the Report:

Truck rental is a hire or lease business of trucks, which serves companies or agencies that do not own their truck fleets but undertake freight transport. A commercial truck rental service allows consumers to utilize the vehicle for a short period in exchange for paying a higher daily cost or monthly cost.

Europe’s medium and heavy-duty truck rental/leasing market is segmented into booking, rental, and country. Based on the booking type, the market is segmented into offline and online booking. Based on the rental type, the market is segmented into short-term and long-term leasing. Based on the country, the market is segmented into Germany, the United Kingdom, France, Italy, Spain, and the Rest of Europe. For each segment, the market sizing and forecast have been done based on value (USD Billion).

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