Truck on: Increasing residential moving activity will boost industry demand

The Truck Rental industry in Canada performed well over the five years to 2018 as demand for industry services has grown steadily from both businesses and households. Businesses rent and lease trucks from industry companies for both the shipment of freight to downstream customers and the transport of goods and materials within and between work sites. As the economy improved, both freight shipping and general business activity have increased, in turn bolstering demand from business customers. Businesses have increased their demand for industry services during the current period as well, bolstered by overall macroeconomic growth and expanding corporate profit. Freight demand has grown nearly every year since 2013, leading more businesses to seek out industry more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23

Industry Threats & Opportunities

  • Increasing emissions and fuel-efficiency regulations will drive demand from the commercial market
  • The industry’s largest players sought to expand their economies of scale
  • Concerns over a housing market dip will affect the industry
  • Industry Report - Industry Investment Chapter

    The Truck Rental industry in Canada is highly capital intensive, with the average industry operator spending $0.92 in capital for every $1.00 spent on labor in 2018. Industry operators must spend a substantial share of their revenue on the purchase, maintenance and repair of a large fleet of trucks, trailers and other vehicles that they rent out or lease. Other, much smaller capital expenses include furnishing office spaces with furniture, computers and other materials necessary for day-to-day operating. While the industry's smaller companies often outsource maintenance and repair work, the industry's larger companies perform their own maintenance on vehicles, which requires a service bay, trained mechanics and diagnostic equipment. This inflates capital intensity in two ways. Sma...purchase to read more.

    Additional Insights for the Truck Rental Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Truck Rental Industry are

  • Access to niche markets
  • Having marketing expertise
  • Having a good technical knowledge of the product
  • IBISWorld analysts also discuss how external factors such as Demand from transportation and warehousing and Housing starts in the Truck Rental industry impact industry performance..

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    What's in this report

    What is the Truck Rental Industry?

    This industry primarily rents or leases trucks, truck tractors, utility trailers, semitrailers, recreational vehicles (RVs) and buses without drivers. Vehicle retailing activity is excluded from this industry. Companies that rent or lease industrial trucks and equipment, such as forklifts, are covered in the Industrial Equipment Rental and Leasing industry in Canada (IBISWorld report 53249CA).

    Industry Products
  • Truck rentals and leases
  • Tractor rentals and leases
  • Trailer rentals and leases
  • Other rentals, leases and services
  • Industry Activities
  • Renting trucks, truck tractors, buses, RVs, utility trailers and semitrailers
  • Leasing trucks, truck tractors, buses, RVs, utility trailers and semitrailers
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from transportation and warehousing
  • Housing starts
  • Per capita disposable income
  • World price of crude oil

  • Current Performance
  • Industry landscape
  • Profit and composition
  • Regulations and the price of fuel
  • Chart: Revenue Growth

  • Industry Outlook
  • Increased stability
  • Emissions standards
  • Housing market concerns
  • Table: Truck Rental Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Truck Rental Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Local Freight Trucking in Canada
  • Long-Distance Freight Trucking in Canada
  • Moving Services in Canada

  • Key Selling Industries
  • SUV & Light Truck Manufacturing in Canada
  • Truck & Bus Manufacturing in Canada
  • Truck, Trailer & Motor Home Manufacturing in Canada

  • Products & Services
  • Truck rentals and leases
  • Tractor rentals and leases
  • Trailer rentals and leases
  • Other rentals, leases and services
  • Chart: Truck Rental Industry Products and Services Segmentation

  • Demand Determinants
  • Freight operators
  • Households
  • Nonfreight businesses

  • Major Markets
  • Commercial
  • Consumer
  • Government, nonprofit and other
  • Chart: Major Market Segmentation for the Truck Rental Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesDepreciationWagesRent and utilitiesOther expenses
  • Chart: Cost Structure Benchmarking – Sector vs Truck Rental

  • Basis of Competition
  • Internal
  • External

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Truck Rental Industry

  • Industry Globalization
    Penske Corp., Ryder System Inc., Amerco,
  • Table: Penske Corp. - financial performance
  • Table: Ryder System Inc. - financial performance
  • Table: Amerco - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Truck Rental Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Truck Rental Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Housing starts (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • The production and discharge of something, especially gas or radiation.
  • Housing Starts
  • The number of new homes that began construction in a given year.
  • Trailer
  • An unpowered vehicle towed by another.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Truck Rental market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Truck Rental:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Truck Rental market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Truck Rental, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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