Please Wait.....
Report
Europe LCV Rental - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 90 Pages I Mordor Intelligence
The Europe LCV Rental Market size is estimated at USD 11.01 billion in 2024, and is expected to reach USD 14.13 billion by 2029, growing at a CAGR of 5.10% during the forecast period (2024-2029).
The outbreak of the COVID-19 pandemic resulted in negative growth of the already struggling automotive and vehicle rental industry. The pandemic resulted in lockdowns and shutdowns, thereby, halting demand in the vehicle rental business for a few months. However, the vehicle rental market recovered in a very short period as demand for last-mile deliveries increased due to restrictions.
Some of the major factors driving the growth of the Europe LCV rental market are the growth in the logistics industry and growing business opportunities in the region. After the Covid-19 global pandemic, commercial vehicle rental and leasing providers are anticipated to look for a fast track strategy for growth in rental and leasing of vehicles and supply chains as they prepare for a volatile demand environment.
Due to technological advancements in commercial vehicle segment is also propelling the market forward as many rental companies are looking for vehicles with advanced features like safety, navigation systems and enhanced driving experience.
Europe LCV Rental Market Trends
Increasing Demand from E-commerce and Last Mile Logistics
The increasing demand from e-commerce sector and the need for efficient last mile delivery by logistic companies has shot up the need for cargo vans of different sizes that can cater to the different cargo space needs of the last mile delivery industry.
Owing to this, several e-commerce and logistic companies have turned towards rental vehicles, in order to cater to the high demand for vans to fulfill deliveries during rush seasons. This in turn, increased the demand for rental services, and majority of the companies realized the advantage of renting the fleet over owning them. For instance,
UPS and FedEx, in Jul 2020, witnessed a significant shortage of transport vans to deliver packages during holiday season and led to them diving into the rental market for fulfilling the fleet needs to deliver packages on time. Owing to the increasing demand, the rental companies have also invested into purchasing vans to be able to offer them for rental services.
Witnessing the increase in demand, major OEMs have also invested into expanding their rental services to be able to cater to the demand for the large and small cargo vans sector. As a result, the market value and public inclination towards rental vehicles has shot up considerably, over the period. For instance,
Vauxhall, part of the StellantisN.V. supergroup announced its van renal scheme in Mar 2020. The company announced the proposition of offering the Vivaroand Combo vans for rental services ranging from GBP 119 to GBP 229 via the company's contact hire company Ready4Business scheme provided through Stellantis'sFree2Move Lease company. These vans are expected to suit the needs of customers and the scheme offers excellent financial flexibility to the customer and their business needs.
As a direct competition to the vans and passenger cars market of the European region to Vauxhall, Renault, has also entered the van rental business, to compete with the programs of Vauxhall. As part of this, Renault SA, in Jun 2021 announced that it was investing into its mobility services business, to expand its product portfolio and market presence as the COVID-19 pandemic restrictions were gradually lifted. The company announced that the short-term rental program, Zitywill be expanded beyond the existing operations in Paris and Madrid.
To meet the changing expectations of consumers while remaining profitable and generating growth, logistics and transportation companies should consider solutions that offer a combination of flexibility, convenience and competitive pricing. By utilizing shorter equipment life cycles, companies can successfully evolve to meet the ever-changing consumer demands and hence such rising demand to poise positive demand in the market during the forecast period.
Germany Dominating the Market
Due to COVID-19, the van rental market has been disrupted. With travel restrictions and lockdowns, there was a decline in the van rental market. However, as the situation is getting normalizing the market is again going to growth with a pre-covid pace.
Germany is a concentrated market, with the key players accounting for roughly 70-80 percent of the market. such as Europcar, Avis Budget, Hertz, Enterprise. The country witnessed a cumulative growth in demand as Van Rentals market is considered not only as an alternative to other shared rides but also as a complementary service.
In order to realize the zero-emission goal, German startups are working on electric van rental space. For instance, UZE Mobility, an open-source e-mobility platform, is providing clients with free van rentals from their electric Street Scooter fleet. Because they've adopted various types of funding, they've been able to take this unique strategy. Digital screens serve as mobile billboards on the sides of the vans. UZE wants to sell enough advertising to cover the cost of renting electric vans.
Other driving factors of the van rental market are, comfort, and quality of life, affordability, and low cost of traveling. The luxury vans also likely to grow over forecast period owing to increased travel budgets of tourists in the country and such developments to have positively lucrative opportunities for rental service providers. Berlin-based Daimler subsidiary Mercedes-Benz Vans Mobility (MBVM) has launched Mercedes-Benz Van Rental, a flexible rental service aimed at LCV users. Part of the strategic advance scheme, the new service is another step towards MBVM becoming a provider of holistic system solutions.
Such developments are expected to have a positive impact on the market in focus during the forecast period.
Europe LCV Rental Industry Overview
The Europe LCV rental market is fairly consolidated and has many active players, owing to the presence of major rental companies in the region. Some of the major players in the market are Enterprise Holdings Inc., Avis Budget Group, Europcar, Hertz Global Holdings Inc, Fraikin, etc
- Fraikin UK, part of one of Europe's largest commercial vehicle fleet services companies, has partnered with Samsara, pioneer of the Connected Operations Cloud, to surface real-time data that will help customers improve the safety, efficiency, and sustainability of their connected fleets.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Booking Type
5.1.1 Online Booking
5.1.2 Offline Booking
5.2 Rental Type
5.2.1 Short Term
5.2.2 Long Term
5.3 By Country
5.3.1 Germany
5.3.2 United Kingdom
5.3.3 France
5.3.4 Spain
5.3.5 Italy
5.3.6 Rest of Europe
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Rental Firms
6.2.1.1 Enterprise Holdings Inc
6.2.1.2 Avis Budget Group
6.2.1.3 Europcar
6.2.1.4 Hertz Global Holdings
6.2.1.5 Fraikin
6.2.2 Light Commercial Vehicle Manufacturers
6.2.2.1 Arrival
6.2.2.2 Volkswagen AG
6.2.2.3 Daimler AG
6.2.2.4 Groupe PSA (Stellantis)
6.2.2.5 Ford Motor Company
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security