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Report
UK Truck Rental Market Research Report Forecast to 2030
Market Report I 2023-10-24 I 92 Pages I Market Research Future
UK Truck Rental Market Research Report Forecast to 2030
Major Players
The UK truck rental market is a thriving and active industry essential to supporting several businesses and logistical activities. The rental truck market in the UK provides a wide range of services and solutions to satisfy various transportation demands, emphasizing flexibility, cost-effectiveness, and scalability. Rental trucks are used by businesses in various industries, including manufacturing, retail, logistics, and construction, to meet their short-term or specialized transportation needs.
The market is growing due to the expanding commercial sector and rising personal disposable income. The market for vehicle leasing and rental in the United Kingdom is anticipated to grow due to the quickening pace of digitalization. Additionally, many rental companies compete for consumers' business in the very competitive UK truck rental industry. This industry's intense competition encourages innovation and guarantees businesses can use the newest truck models and technologies. Customer satisfaction is a top priority for rental truck firms, which provide value-added services, including telemetry systems, maintenance assistance, and flexible rental terms. These elements help the UK truck rental sector expand and succeed by giving businesses affordable, effective transportation options to meet their changing needs.
As per MRFR, the UK truck rental market has been growing over the past few years. It is expected to reach USD 6,428.0 million by 2030, at a CAGR of 10.10% during the forecast period, 2023-2030.
Market Segmentation
The UK truck rental market has been segmented based on offering, truck type and end user. By offering segment, rental truck services accounted for the largest market share with a market value of USD 1,846.9 million in 2022, which is projected to grow at a CAGR of 10.90% during the forecast period.
The UK Truck Rental market, in this report, has been segmented based on Truck Type into Rental Truck and Rental Truck Service. Truck rental and truck rental services both are further divided into light duty, medium duty, and heavy duty. The UK Truck Rental market, in this report, has been segmented based on End User into Rental Truck and Rental Truck Service market. The Truck Rental market is further divided into Cold Storage, Manufacturing & Industrial, Construction, and Others. Cold Storage is further divided into the Food Industry and Pharmaceutical. Furthermore, Rental truck service is further divided into Cold Storage, Fleet Operator, and Others.
Major Players
Hexagon Leasing Ltd, Close Brothers Vehicle Hire, Asset Alliance Group, Seven Asset Management, Fraikin Limited, Dawsongroup PLC, Alltruck PLC, Petit Forestier, Enterprise Holdings, Inc, and Salford Van Hire.
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TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 11
2 MARKET INTRODUCTION 13
2.1 DEFINITION 13
2.2 SCOPE OF THE STUDY 13
2.3 RESEARCH OBJECTIVE 13
2.4 MARKET STRUCTURE 14
3 RESEARCH METHODOLOGY 15
4 MARKET DYNAMICS 21
4.1 INTRODUCTION 21
4.2 DRIVERS 22
4.2.1 INCREASING DEAMND FROM LOGISTICS SECTOR 22
4.2.2 GROWING DEMAND OF ELETRIC TRUCK 22
4.2.3 RISING EMISSION STANDARDS IN UK 23
4.2.4 DRIVERS IMPACT ANALYSIS 24
4.3 RESTRAINTS 24
4.3.1 THE EMERGENCE OF TRUCK SHARING 24
4.3.2 RESTRAINT IMPACT ANALYSIS 25
4.4 OPPORTUNITY 25
4.4.1 GROWING USE OF AI IN RENTAL TRUCK MARKET 25
4.5 IMPACT ANALYSIS OF COVID-19 26
4.5.1 IMPACT ON OVERALL TRANSPORT 26
4.5.1.1 ECONOMIC IMPACT 27
4.5.2 IMPACT ON UK TRUCK RENTAL MARKET 28
4.5.3 IMPACT ON SUPPLY CHAIN OF UK TRUCK RENTAL 28
4.5.3.1 IMPACT DUE TO RESTRICTIONS/LOCKDOWN 28
4.5.3.2 CONSUMER SENTIMENTS 29
4.5.4 IMPACT ON PRICING OF UK TRUCK RENTAL 29
5 MARKET FACTOR ANALYSIS 30
5.1 SUPPLY CHAIN 30
5.1.1 RESEARCH & DEVELOPMENT (R&D): 30
5.1.2 RAW SERVICE PROVIDER SUPPLY: 30
5.1.3 MANUFACTURING & ASSEMBLY: 30
5.1.4 SALES & DISTRIBUTION: 31
5.1.5 TRUCK TYPES: 31
5.2 PORTER'S FIVE FORCES MODEL 32
5.2.1 THREAT OF NEW ENTRANTS 33
5.2.2 BARGAINING POWER OF SUPPLIERS 33
5.2.3 BARGAINING POWER OF CUSTOMERS 33
5.2.4 THREAT OF SUBSTITUTE PRODUCTS OR SERVICES 33
5.2.5 INTENSITY OF COMPETITIVE RIVALRY 33
6 UK TRUCK RENTAL MARKET, BY OFFERING 34
6.1 OVERVIEW 34
6.1.1 UK TRUCK RENTAL MARKET, BY OFFERING, 2019-2030 (USD MILLION) 35
6.2 RENTAL TRUCK 35
6.2.1 UK TRUCK RENTAL MARKET, BY OFFERING, BY RENTAL TRUCK, 2019-2030 (USD MILLION) 35
6.2.2 USED TRUCK 36
6.2.3 NEW TRUCK 36
6.3 RENTAL TRUCK SERVICE 36
6.3.1 UK TRUCK RENTAL MARKET, BY OFFERING, BY RENTAL TRUCK SERVICE, 2019-2030 (USD MILLION) 37
6.3.2 LONG TERM LEASING 37
6.3.3 SHORT TERM LEASING 38
7 UK TRUCK RENTAL MARKET, BY TRUCK TYPE 39
7.1 OVERVIEW 39
7.1.1 UK TRUCK RENTAL MARKET, BY TRUCK TYPE, 2019-2030 (USD MILLION) 40
7.2 RENTAL TRUCK - TRUCK TYPE 40
7.2.1 UK TRUCK RENTAL MARKET, BY TRUCK TYPE, BY RENTAL TRUCK 2019-2030 (USD MILLION) 40
7.2.2 LIGHT DUTY 41
7.2.3 MEDIUM DUTY 41
7.2.4 HEAVY DUTY 41
7.3 RENTAL TRUCK SERVICE - TRUCK TYPE 41
7.3.1 UK TRUCK RENTAL MARKET, BY TRUCK TYPE, BY RENTAL TRUCK SERVICE, 2019-2030 (USD MILLION) 42
8 UK TRUCK RENTAL MARKET, BY END USER 43
8.1 OVERVIEW 43
8.1.1 UK TRUCK RENTAL MARKET, BY END USER, 2019-2030 (USD MILLION) 44
8.2 RENTAL TRUCK - END USER 44
8.2.1 UK TRUCK RENTAL MARKET, BY END USER, BY RENTAL TRUCK 2019-2030 (USD MILLION) 44
8.2.2 COLD STORAGE 45
8.2.3 UK TRUCK RENTAL MARKET, BY COLD STORAGE, BY END USER RENTAL TRUCK 2019-2030 (USD MILLION) 45
8.2.3.1 FOOD INDUSTRY 45
8.2.3.2 PHARMACEUTICAL 45
8.2.4 MANUFACTURING & INDUSTRIAL 46
8.2.5 CONSTRUCTION 46
8.2.6 OTHERS 47
8.3 RENTAL TRUCK SERVICE - END USER 47
8.3.1 UK TRUCK RENTAL MARKET, BY END USER, BY RENTAL TRUCK SERVICE, 2019-2030 (USD MILLION) 48
8.3.2 COLD STORAGE 48
8.3.3 FLEET OPERATOR 48
8.3.4 OTHERS 48
9 COMPETITIVE LANDSCAPE 49
9.1 COMPETITIVE BENCHMARKING 50
9.2 VENDOR SHARE ANALYSIS 51
9.3 RECENT DEVELOPMENTS 51
9.3.1 COLLABORATION/ PARTNERSHIP/AGREEMENTS/CONTRACT 51
9.3.2 PRODUCT LAUNCH 54
10 COMPANY PROFILES 56
10.1 HEXAGON LEASING LTD 56
10.1.1 COMPANY OVERVIEW 56
10.1.2 FINANCIAL OVERVIEW 57
10.1.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 58
10.1.4 KEY DEVELOPMENTS 59
10.1.5 SWOT ANALYSIS 59
10.1.6 KEY STRATEGIES 59
10.2 CLOSE BROTHERS VEHICLE HIRE (CLOSE BROTHERS GROUP PLC) 61
10.2.1 COMPANY OVERVIEW 61
10.2.2 FINANCIAL OVERVIEW 61
10.2.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 62
10.2.4 KEY DEVELOPMENTS 63
10.2.5 SWOT ANALYSIS 63
10.2.6 KEY STRATEGIES 63
10.3 ASSET ALLIANCE GROUP 64
10.3.1 COMPANY OVERVIEW 64
10.3.2 FINANCIAL OVERVIEW 64
10.3.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 64
10.3.4 KEY DEVELOPMENTS 65
10.3.5 SWOT ANALYSIS 66
10.3.6 KEY STRATEGIES 66
10.4 SEVEN ASSET MANAGEMENT 67
10.4.1 COMPANY OVERVIEW 67
10.4.2 FINANCIAL OVERVIEW 67
10.4.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 67
10.4.4 KEY DEVELOPMENTS 68
10.4.5 SWOT ANALYSIS 68
10.4.6 KEY STRATEGIES 68
10.5 FRAIKIN LIMITED (FRAIKIN GROUP) 69
10.5.1 COMPANY OVERVIEW 69
10.5.2 FINANCIAL OVERVIEW 70
10.5.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 70
10.5.4 KEY DEVELOPMENTS 71
10.5.5 SWOT ANALYSIS 72
10.5.6 KEY STRATEGIES 72
10.6 DAWSONGROUP PLC 73
10.6.1 COMPANY OVERVIEW 73
10.6.2 FINANCIAL OVERVIEW 74
10.6.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 74
10.6.4 KEY DEVELOPMENTS 75
10.6.5 SWOT ANALYSIS 76
10.6.6 KEY STRATEGIES 76
10.7 ALLTRUCK PLC 77
10.7.1 COMPANY OVERVIEW 77
10.7.2 FINANCIAL OVERVIEW 78
10.7.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 79
10.7.4 KEY DEVELOPMENTS 79
10.7.5 SWOT ANALYSIS 80
10.7.6 KEY STRATEGIES 80
10.8 PETIT FORESTIER 81
10.8.1 COMPANY OVERVIEW 81
10.8.2 FINANCIAL OVERVIEW 81
10.8.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 82
10.8.4 KEY DEVELOPMENTS 82
10.8.5 SWOT ANALYSIS 83
10.8.6 KEY STRATEGIES 83
10.9 ENTERPRISE HOLDINGS, INC. 84
10.9.1 COMPANY OVERVIEW 84
10.9.2 FINANCIAL OVERVIEW 84
10.9.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 84
10.9.4 KEY DEVELOPMENTS 85
10.9.5 SWOT ANALYSIS 85
10.9.6 KEY STRATEGIES 86
10.10 SALFORD VAN HIRE 87
10.10.1 COMPANY OVERVIEW 87
10.10.2 FINANCIAL OVERVIEW 88
10.10.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 88
10.10.4 KEY DEVELOPMENTS 89
10.10.5 SWOT ANALYSIS 89
10.10.6 KEY STRATEGIES 91
10.11 UK TRUCK RENTAL MARKET PRICING TREND 91
10.11.1 UK TRUCK RENTAL MARKET PRICING TREND 91
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LIST OF TABLES
TABLE 1 UK TRUCK RENTAL MARKET, BY OFFERING, 2019-2030 (USD MILLION) 35
TABLE 2 UK TRUCK RENTAL MARKET, BY OFFERING, BY RENTAL TRUCK, 2019-2030 (USD MILLION) 35
TABLE 3 UK TRUCK RENTAL MARKET, BY OFFERING, BY RENTAL TRUCK SERVICE, 2019-2030 (USD MILLION) 37
TABLE 4 UK TRUCK RENTAL MARKET, BY TRUCK TYPE, 2019-2030 (USD MILLION) 40
TABLE 5 UK TRUCK RENTAL MARKET, BY TRUCK TYPE, BY RENTAL TRUCK 2019-2030 (USD MILLION) 40
TABLE 6 UK TRUCK RENTAL MARKET, BY TRUCK TYPE, BY RENTAL TRUCK SERVICE, 2019-2030 (USD MILLION) 42
TABLE 7 UK TRUCK RENTAL MARKET, BY END USER, 2019-2030 (USD MILLION) 44
TABLE 8 UK TRUCK RENTAL MARKET, BY END USER, BY RENTAL TRUCK 2019-2030 (USD MILLION) 44
TABLE 9 UK TRUCK RENTAL MARKET, BY COLD STORAGE, BY END USER RENTAL TRUCK 2019-2030 (USD MILLION) 45
TABLE 10 UK TRUCK RENTAL MARKET, BY END USER, BY RENTAL TRUCK SERVICE, 2019-2030 (USD MILLION) 48
TABLE 11 COLLABORATION/ PARTNERSHIP/AGREEMENTS/CONTRACTS 51
TABLE 12 PRODUCT LAUNCH/PRODUCT EXPANSION/SITE EXPANSION 54
TABLE 13 HEXAGON LEASING LTD: PRODUCTS/SERVICES OFFERED 58
TABLE 14 HEXAGON LEASING LTD: KEY DEVELOPMENTS 59
TABLE 15 CLOSE BROTHERS VEHICLE HIRE: PRODUCTS OFFERED 62
TABLE 16 CLOSE BROTHERS VEHICLE HIRE: KEY DEVELOPMENTS 63
TABLE 17 ASSET ALLIANCE GROUP: PRODUCTS/SERVICES OFFERED 64
TABLE 18 ASSET ALLIANCE GROUP: KEY DEVELOPMENTS 65
TABLE 19 SEVEN ASSET MANAGEMENT: PRODUCTS/SERVICES OFFERED 67
TABLE 20 SEVEN ASSET MANAGEMENT: KEY DEVELOPMENTS 68
TABLE 21 FRAIKIN LIMITED: PRODUCTS/SERVICES OFFERED 70
TABLE 22 FRAIKIN LIMITED: KEY DEVELOPMENTS 71
TABLE 23 DAWSONGROUP PLC: PRODUCTS/SERVICES OFFERED 74
TABLE 24 DAWSONGROUP PLC: KEY DEVELOPMENTS 75
TABLE 25 ALLTRUCK PLC: PRODUCTS/SERVICES OFFERED 79
TABLE 26 ALLTRUCK PLC: KEY DEVELOPMENTS 79
TABLE 27 PETIT FORESTIER: PRODUCTS/SERVICES OFFERED 82
TABLE 28 PETIT FORESTIER: KEY DEVELOPMENTS 82
TABLE 29 ENTERPRISE HOLDINGS, INC: PRODUCTS/SERVICES OFFERED 84
TABLE 30 ENTERPRISE HOLDINGS, INC: KEY DEVELOPMENTS 85
TABLE 31 SALFORD VAN HIRE: PRODUCTS/SERVICES OFFERED 88
TABLE 32 SALFORD VAN HIRE: KEY DEVELOPMENTS 89
TABLE 33 UK TRUCK RENTAL MARKET PRICING TREND (IN USD) 91
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LIST OF FIGURES
FIGURE 1 MARKET SYNOPSIS 12
FIGURE 2 UK TRUCK RENTAL MARKET: MARKET STRUCTURE 14
FIGURE 3 BOTTOM-UP AND TOP-DOWN APPROACHES 19
FIGURE 4 MARKET DYNAMIC ANALYSIS OF THE UK TRUCK RENTAL MARKET 21
FIGURE 5 DRIVER IMPACT ANALYSIS 24
FIGURE 6 RESTRAINT IMPACT ANALYSIS 25
FIGURE 7 UK TRUCK RENTAL MARKET: VALUE CHAIN 30
FIGURE 8 PORTER'S FIVE FORCES ANALYSIS OF THE TRUCK RENTAL MARKET 32
FIGURE 9 UK TRUCK RENTAL MARKET, BY OFFERING, 2022 (% SHARE) 34
FIGURE 10 UK TRUCK RENTAL MARKET, BY OFFERING, 2022 VS 2030 (USD MILLION) 34
FIGURE 11 UK TRUCK RENTAL MARKET, BY OFFERING, BY RENTAL TRUCK, 2022 VS 2030 (USD MILLION) 35
FIGURE 12 UK TRUCK RENTAL MARKET, BY OFFERING, BY RENTAL TRUCK SERVICE, 2022 VS 2030 (USD MILLION) 37
FIGURE 13 UK TRUCK RENTAL MARKET, BY TRUCK TYPE, 2022 (% SHARE) 39
FIGURE 14 UK TRUCK RENTAL MARKET, BY TRUCK TYPE, 2022 VS 2030 (USD MILLION) 39
FIGURE 15 UK TRUCK RENTAL MARKET, BY TRUCK TYPE, BY RENTAL TRUCK 2022 VS 2030 (USD MILLION) 40
FIGURE 16 UK TRUCK RENTAL MARKET, BY TRUCK TYPE, BY RENTAL TRUCK SERVICE, 2022 VS 2030 (USD MILLION) 41
FIGURE 17 UK TRUCK RENTAL MARKET, BY END USER, 2022 (% SHARE) 43
FIGURE 18 UK TRUCK RENTAL MARKET, BY END USER, 2022 VS 2030 (USD MILLION) 43
FIGURE 19 UK TRUCK RENTAL MARKET, BY END USER, BY RENTAL TRUCK 2022 VS 2030 (USD MILLION) 44
FIGURE 20 UK TRUCK RENTAL MARKET, BY END USER, BY RENTAL TRUCK SERVICE, 2022 VS 2030 (USD MILLION) 47
FIGURE 22 VENDOR SHARE ANALYSIS, 2022 (%) 51
FIGURE 23 HEXAGON LEASING LTD: FINANCIAL OVERVIEW SNAPSHOT 57
FIGURE 24 HEXAGON LEASING LTD: SWOT ANALYSIS 59
FIGURE 25 CLOSE BROTHERS VEHICLE HIRE: FINANCIAL OVERVIEW SNAPSHOT 61
FIGURE 26 CLOSE BROTHERS VEHICLE HIRE: SWOT ANALYSIS 63
FIGURE 27 ASSET ALLIANCE GROUP: SWOT ANALYSIS 66
FIGURE 28 SEVEN ASSET MANAGEMENT: SWOT ANALYSIS 68
FIGURE 29 FRAIKIN LIMITED: FINANCIAL OVERVIEW SNAPSHOT 70
FIGURE 30 FRAIKIN LIMITED: SWOT ANALYSIS 72
FIGURE 31 DAWSONGROUP PLC: FINANCIAL OVERVIEW SNAPSHOT 74
FIGURE 32 DAWSONGROUP PLC: SWOT ANALYSIS 76
FIGURE 33 ALLTRUCK PLC: FINANCIAL OVERVIEW SNAPSHOT 78
FIGURE 34 ALLTRUCK PLC: SWOT ANALYSIS 80
FIGURE 35 PETIT FORESTIER: FINANCIAL OVERVIEW SNAPSHOT 81
FIGURE 36 PETIT FORESTIER: SWOT ANALYSIS 83
FIGURE 37 ENTERPRISE HOLDINGS, INC: SWOT ANALYSIS 85
FIGURE 38 SALFORD VAN HIRE: FINANCIAL OVERVIEW SNAPSHOT 88
FIGURE 39 SALFORD VAN HIRE: SWOT ANALYSIS 89
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