The global truck rental market size is expected to be worth USD 290.9 Billion in 2025. It can surge to a valuation of USD 488.94 Billion by 2032. The market is anticipated to exhibit a robust CAGR of 7.7% during the forecast period (2025-2032).  

The market growth is driven by the rental model preferred by small and medium enterprises and independent contractors. The emphasis on last-mile delivery solutions and the emergence of q-commerce offer growth opportunities to the market.

However, the lack of skilled drivers and the entry of young drivers in the transportation sector can pose a significant hurdle to the market growth.

Key Market Insights

The truck rental market is characterized by the integration of new features like collision avoidance systems, seasonal transportation of produce, and DIY relocations.

• By truck type, the medium duty segment is expected to score a 25.0% share in 2025. This can be attributed to the optional requirement of a commercial driving license for medium duty trucks. The need for these trucks in furniture delivery and regional freight transportation of goods can drive the segment’s growth.
• By propulsion, the electric segment is anticipated to attain a 41.3% market share in 2025. The adherence to zero-emission laws by cities to keep their neighborhoods pollution-free and clean can drive the segment’s growth. Moreover, the use of electric trucks for the transportation of goods in emission-free zones can spur demand in the truck rental market.
• By service provider, the OEM segment is anticipated to attain a 32% market share in 2025. The use of flexible loans and low interest rates can make it lucrative for small businesses to partner with original equipment manufacturer (OEM) truck rental providers. OEMs heavy equipment can be used in the repair and maintenance of trucks.
• By region, the Asia Pacific region is anticipated to capture at least 35% market share in 2025. This can be on account of the expansion of the e-commerce sector and the rapid urbanization of cities. The transportation of goods during sales and religious festivals can facilitate the market growth in the region.

The full report is now available for purchase: https://www.coherentmi.com/industry-reports/truck-rental-market

Truck Rental Market Report Coverage

Market Dynamics

The truck rental market growth is driven by the rise of e-commerce firms and the transportation of goods to urban and suburban areas. The demand for flexible freight solutions amid the heavy demand for same-day delivery can drive the market growth significantly.

The rise of self-movers and the offering of rental trucks to DIY movers can augur favorably for the market. For instance, Home Depot offers a fleet of customized trucks for moving heavy furniture or compact items to different cities or the same city.

Fluctuations in economic policies can also affect the market demand. The mandatory installation of electronic logging devices to ensure the security of trucks and curb high fuel usage is a talking flashpoint among rental trucking firms. However, the software vulnerabilities of the devices to online viruses can bring their utility into question.

Market Opportunity: Seasonal Produce Transportation to Offer New Revenue Streams

The seasonality of produce has a deep impact on trucking rates. Trucking rental firms are reacting to changes in prices of produce and planning accordingly to capitalize on the trend. The use of reefer trailers for the transport of dry produce and the use of reefers for the transportation of canned goods or refrigerated items can be beneficial to trucking firms. The partnership with food shippers and storage of popular foods close to festivals and state holidays can augur favorably for the truck rental market and help them gain a sizeable haul.

Market Challenge: Rising Operational Expenses to Negatively Affect Market Growth

The rising operational expenses are driven by labor costs, fuel surcharges, highway tolls, and vehicle maintenance charges. Integration of new features such as advanced driver assistance systems (ADAS) and collision avoidance systems has propelled the surge in expenses. The losses incurred by car carrier trucks owing to the recession can drive up the expenses of drivers and truck payments. The resolution to the ongoing tariff war between countries can bring respite to the truck rental market.

Analyst’s View

• The rise of e-commerce and q-commerce provides new growth opportunities for the truck rental market.
• The medium duty truck segment is expected to capture a significant market share owing to its demand in the construction and regional freight transport sectors.
• Key players are partnering with OEMs to increase their market share.

Recent Developments

hylane GmbH, a Germany-based company in the business of commercial vehicle rentals, expanded into the Netherlands on June 17, 2025. The company is strengthening its decision by renting out commission-free trucks to spur the logistics industry.

Competitor Insights

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

Market Segmentation

• By Truck Type
• Light Duty
• Medium Duty
• Heavy Duty
• By Propulsion
• Industrial Combustion Engine (ICE)
• Electric
• By Service Providers
• Rental and Leasing Companies
• OEM
• Third-party

Regional Insights

• North America
  • U.S.
  • Canada
• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of Latin America
• Europe
  • Italy
  • Germany
  • U.K.
  • Spain
  • Russia
  • France
  • Rest of Europe
• Asia Pacific
  • South Korea
  • India
  • China
  • Japan
  • Australia
  • ASEAN
  • Rest of Asia Pacific
• Middle East
  • GCC Countries
  • Israel
  • Rest of Middle East
• Africa
  • South Africa
  • North Africa
  • Central Africa