UK Truck Rental Market Research Report By Truck Type (Heavy Commercial Vehicle, Light Commercial Vehicle) and By Lease Type (Finance Lease, Full-Service Lease)- Forecast to 2035

UK Truck Rental Market Overview:

As per MRFR analysis, the UK Truck Rental Market Size was estimated at 5.95 (USD Billion) in 2023. The UK Truck Rental Market Industry is expected to grow from 6.57 (USD Billion) in 2024 to 16.04 (USD Billion) by 2035. The UK Truck Rental Market CAGR (growth rate) is expected to be around 8.458% during the forecast period (2025 - 2035).

Key UK Truck Rental Market Trends Highlighted

The UK Truck Rental Market is witnessing noteworthy trends driven by multiple factors. One significant driver is the rising demand for logistics and transportation services, fueled by the growth of e-commerce and changing consumer behavior. Businesses in the UK are increasingly opting for truck rentals to handle fluctuating delivery demands without committing to long-term vehicle investments.

This shift allows companies to remain agile and respond quickly to market needs. Furthermore, environmental regulations and sustainability concerns are pushing the market towards embracing more fuel-efficient and electric vehicles within rental fleets. This change aligns with government initiatives aimed at reducing carbon emissions, such as targets set in the UK’s Environment Act, encouraging rental companies to adapt their offerings to meet these regulations.

Mobile applications and online platforms are becoming more popular for reservations and fleet management, which signifies the digitization of the rental process. These technological developments enhance customer and operational convenience. There are prospects of growth in specialized truck rentals in particular sectors like construction, which have demand for custom-fit vehicles. Flexible rental options lead to new possibilities for payment methods that suit different businesses and pay-per-use models. Furthermore, as towns in the UK are adopting more stringent access measures, there is also an opportunity for these rental firms to help businesses with these bypasses.

Overall, the UK Truck Rental Market is evolving, driven by the need for flexibility, sustainability, and technology-driven improvements.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

UK Truck Rental Market Drivers

Rise in E-commerce and Logistics Demand

The UK Truck Rental Market Industry is experiencing significant growth due to the rapid rise in e-commerce and logistics demand. The online retail sector in the UK has been expanding at an unprecedented rate, with the Office for National Statistics reporting a 46.1% increase in online sales from 2019 to 2021 driven by the pandemic. This surge has led to a higher demand for transportation and logistics, compelling businesses to opt for truck rentals rather than owning fleets. Notable logistics companies, such as DPD and Yodel, have increased their operations, contributing to this expansion. Their growing needs for flexible and scalable transportation solutions are critical drivers for the truck rental market, creating opportunities for companies specializing in truck rental services to fill the demand effortlessly.

Government Infrastructure Investment

The UK government has been committed to investing in infrastructure, which subsequently boosts the truck rental market. Recent budgets have allocated billions for transport improvements, with the National Infrastructure Commission estimating that around 600 billion of investment over the next decade will be required to enhance transport efficiency. This focus on upgrading roads and highways increases the viability of truck transportation, thus driving demand for truck rentals. Companies involved in truck rentals can benefit from projects such as HS2 and other regional transport upgrades, as these developments will require increased logistics capabilities and freight mobility.

Growth of Construction Activities

The construction sector is a significant contributor to the UK Truck Rental Market Industry, as construction activities are projected to increase steadily. The UK Construction Industry Training Board predicts that the sector will grow by 12% from now till 2025. This growth is essential for the truck rental market since construction firms often require specialized transportation solutions for heavy machinery and materials. The need for flexibility offered by rental services enables construction companies to optimize logistics without the burden of owning vehicles. Prominent players in the construction sector, such as Balfour Beatty and Kier Group, are likely to lean more toward rental services to meet their logistical demands efficiently.

Adoption of Green Vehicles in Rental Fleets

The shift towards environmental sustainability is shaping the UK Truck Rental Market Industry, with many rental companies now adopting greener vehicle options, including electric and hybrid trucks. As per the UK Department for Transport, low-emission vehicle growth rose by 79% in the last year, signifying an industry trend. Companies like Enterprise and Hertz are leading initiatives in incorporating fuel-efficient and electric trucks into their fleets. This alignment with environmental regulations not only helps in reducing carbon footprints but also translates into lower operating costs for renters. As businesses seek to comply with sustainability criteria, the demand for green rental options continues to rise and drives the market forward.

UK Truck Rental Market Segment Insights:

Truck Rental Market Truck Type Insights

The UK Truck Rental Market, particularly within the Truck Type segment, has been evolving as businesses increasingly seek to optimize their logistics and supply chain operations. The division includes key categories such as Heavy Commercial Vehicles and Light Commercial Vehicles, each catering to distinct operational needs across various industries. Heavy Commercial Vehicles are often utilized in industries like construction and logistics, where large load capacities are required. Their prominent role in the transportation of bulk goods significantly impacts the overall efficiency of supply chains. On the other hand, Light Commercial Vehicles serve a diverse array of applications, particularly in urban settings, where maneuverability and load flexibility are crucial. The increasing demand for eco-friendly transport means that companies are more inclined to choose lighter vehicles that can reduce fuel consumption and emissions.

Market growth in the UK is being further propelled by the rise of e-commerce, which has heightened the demand for efficient and timely deliveries. Factors such as the adoption of technology, like telematics in fleet management, are enhancing operational efficiency providing businesses a competitive edge. However, challenges exist, particularly in maintaining vehicle compliance with the stringent environmental regulations set forth by the UK government and adapting to the fluctuating landscape of logistics demands. The importance of the Truck Type segment is underscored by its robust growth trajectory, with both Heavy and Light Commercial Vehicles contributing significantly to the evolving rental landscape. The increasing reliance on these vehicles within various sectors makes them indispensable in addressing the logistics needs of the UK economy.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Truck Rental Market Lease Type Insights

The Lease Type segment of the UK Truck Rental Market has evolved significantly, driven by the growing demand for flexible and cost-effective transportation solutions among businesses. Within this segment, Finance Lease and Full-Service Lease represent two notable classifications. Finance Lease allows companies to acquire trucks while spreading out the payment over time, making it appealing for those looking to manage cash flow effectively. This option is particularly favored by companies aiming to bolster their operational capabilities without substantial upfront costs.

Conversely, Full-Service Lease offers an all-inclusive package that encompasses maintenance and support, addressing the increasing need for hassle-free transportation management. This type of lease is popular among businesses seeking to optimize their fleets, streamline operations, and reduce unforeseen expenses. The trend towards e-commerce and logistics expansion in the UK further underscores the importance of these leasing options as businesses strive to enhance their fleet efficiency and adaptability. With the market growth expected to continue, the Lease Type segment plays a crucial role in shaping the overall dynamics of the UK Truck Rental Market, providing essential solutions tailored to diverse operational needs.

UK Truck Rental Market Key Players and Competitive Insights:

The UK Truck Rental Market is characterized by its dynamic nature, driven by a diverse range of competitors, varying service offerings, and evolving customer demands. The landscape comprises several established players and emerging organizations, each vying for market share through innovative business strategies, competitive pricing, and tailored customer experiences. Growing logistical needs, coupled with an increasing reliance on rental services for both short-term and long-term requirements, create an environment rife with opportunities and challenges. These factors influence rental fleet compositions, the introduction of advanced technologies, and the overall approach to service delivery in a landscape where sustainability and efficiency are paramount.

Hertz has carved a strong niche within the UK Truck Rental Market, offering a broad selection of vehicles that cater to diverse customer needs, ranging from light to heavy-duty trucks. The company's extensive branch network across the UK provides a strategic advantage, ensuring accessibility for customers in urban and rural areas alike. Hertz's commitment to high-quality service is evident in its well-maintained fleet, robust customer support, and flexible rental terms designed to meet varying requirements. Furthermore, Hertz effectively leverages technology to enhance the rental experience, introducing online booking platforms and telematics to provide real-time vehicle tracking, which adds tremendous value for both commercial and individual clients. The combination of a reliable reputation and a user-friendly interface sets Hertz apart within this competitive sector.

Thrifty Car Rental holds a significant presence in the UK Truck Rental Market, known for its diverse range of trucks and vans available for rental. The company provides key services such as one-way rentals and long-term contracts tailored to meet the logistics needs of businesses and individuals alike. Showcasing a customer-centric approach, Thrifty emphasizes transparency in pricing and has made notable strides in incorporating sustainable practices into its operations. The company has established notable partnerships and has engaged in strategic mergers and acquisitions to strengthen its market position. By enhancing service offerings and expanding its rental fleet, Thrifty aims to provide a reliable and efficient solution to its clients, making it a compelling choice in the competitive landscape of UK truck rentals. Their presence is reinforced by strong brand recognition and a focus on adaptability to changing market demands, ensuring they remain a formidable contender within this vibrant sector.

Key Companies in the UK Truck Rental Market Include:

• Hertz


• Thrifty Car Rental


• Ryder


• Penske


• Enterprise RentACar


• Ashtead Group


• Northgate Vehicle Hire


• BRS Limited


• Sixt


• Europcar


• DHL


• City Rent a Car


• Nationwide Hire


• Avis Budget Group


• Loxam

UK Truck Rental Market Industry Developments

In recent months, the UK Truck Rental Market has witnessed significant developments spurred by transformational shifts in logistics and transportation needs. Companies like Hertz, Ryder, and Enterprise Rent-A-Car are actively navigating the evolving market dynamics amid growing demand for light and heavy-duty rental vehicles. Notably, in August 2023, Ryder announced the expansion of its fleet, with an increase in low-emission vehicle options to align with sustainability commitments. Similarly, Europcar has adapted its offerings to cater to an increasing emphasis on green transport solutions, enhancing customer appeal.

In October 2023, Northgate Vehicle Hire reported a substantial rise in market valuation, attributing this growth to the growing e-commerce sector and heightened demand for flexible transport solutions, affecting rental agreements positively. There have been no recent mergers or acquisitions among the specified companies, which keeps the competitive landscape stable. Over the last 2-3 years, the market has also seen a gradual increase in rental rates attributed to supply chain challenges and enhanced safety measures post-pandemic, impacting operational capacities for firms like DHL and Ashtead Group. This evolving context outlines the UK Truck Rental Market's adaptation in response to changing consumer behaviors and regulatory pushes towards sustainability.

UK Truck Rental Market Segmentation Insights

Truck Rental MarketTruck TypeOutlook

• Heavy Commercial Vehicle


• Light Commercial Vehicle

Truck Rental MarketLease TypeOutlook

• Finance Lease


• Full-Service Lease

Report Attribute/Metric Source:	Details
MARKET SIZE 2018	5.95 (USD Billion)
MARKET SIZE 2024	6.57 (USD Billion)
MARKET SIZE 2035	16.04 (USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	8.458% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	Hertz, Thrifty Car Rental, Ryder, Penske, Enterprise RentACar, Ashtead Group, Northgate Vehicle Hire, BRS Limited, Sixt, Europcar, DHL, City Rent a Car, Nationwide Hire, Avis Budget Group, Loxam
SEGMENTS COVERED	Truck Type, Lease Type
KEY MARKET OPPORTUNITIES	Growing demand for last-mile delivery, Expansion in e-commerce logistics, Adoption of electric trucks, Short-term rental services surge, Increased urbanization and infrastructure projects
KEY MARKET DYNAMICS	increased demand for logistics, growing e-commerce sector, rising fuel costs, environmental regulations impact, technology adoption among operators
COUNTRIES COVERED	UK