Higher cost of commercial vehicles for small & medium enterprises drive the Russia Truck Leasing & Rental Market growth. According to TechSci report on, “Russia Truck Leasing & Rental Market - By Region, Competition Forecast & Opportunities, 2027”. Russia truck leasing & rental market may flourish with an impressive CAGR during the forecast period of 2023-2027, on the backbone of growing concerns regarding the environment. Increasing sales of trucks would further increase the number of on-road trucks and the pollution levels are expected to skyrocket that will disturbing the environment and releasing toxic exhaust thus use of leased vehicles and rental trucks would decrease the number of on-road vehicles significantly thus driving the growth of the Russia truck leasing & rental market in the upcoming five years.
Important factors of Russia Truck Leasing & Rental Market
Expanding construction industry, automotive industry, and growing demand from the retail industry for efficient retail product transportation drives the growth of the Russia truck leasing & rental market in the next five years. Growing demands from the end-use industries are a major factor aiding the market growth. The rapid adoption of online services, digital platforms to book rental service, efficient payment channels through online pathways, etc. also facilitate the growth of the Russia truck leasing & rental market in the future five years. Almost 100% digitized services, increasing penetration of smartphones among the population, and better internet connectivity further support the growth.
The inclusion of technologies in the trucks such as AI monitoring, internet of things, and GPS monitoring of the trucks, also fuels the growth of the Russia truck leasing & rental market in the forecast years through 2027F. Furthermore, factors like government-announced safety norms regarding COVID protection and sanitizing regulations, coupled with growing demand for safe vehicles for transport services are some of the major factors aiding the growth of the Russia truck leasing & rental market in the forecast period.
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The Russia truck leasing & rental market is segmented by type, lease type, truck type, end-use industry, booking, vehicle type, competitional landscape, and regional distribution. Based on type, the market is differentiated between lease and rental. By lease type, the market is bifurcated into a financial lease, full service/operational lease, and third-party lease. Based on truck type, the market is fragmented into light-duty, heavy-duty, and medium-duty. Heavy-duty trucks are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years due to increasing demands from the consumer goods & retail industry. Higher loads of truck commute drive the market segment. Moreover, light-duty trucks are also expected to hold significant shares due to increasing demands from small and medium enterprises demanding shorter distance freight movements thereby increasing the growth of the Russia truck leasing & rental market in the next five years.
By end-use industry, the market is further segmented into oil & gas, FMCG, e-commerce, mining, construction, and others. The oil & gas end-use industry is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years due to surging demands for oil & gas generated energy. Growing energy consumption and increasing imports & exports further aid the growth of the Russia truck leasing & rental market in the future five years. The FMCG industry is also anticipated to hold significant revenue shares of the market due to increasing demands for freight movement. Rising adaption of technology coupled with evolving shopping behaviors and the e-commerce sector further aid the segmental growth and the growth of the Russia truck leasing & rental market in the forecast years through 2027F.
Based on booking, the market is distinguished between online and offline. By vehicle type, the market is differentiated into fully build and customizable. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Eastern Region, North-West Region, North Region, Siberian Region, Ural Region, South Region & Crimean Region, Volga Region, and Central Region.
A partial list of major market players in the Russia truck leasing & rental market includes :
- Kamaz PTC
- Travelscape LLC
- Expedia, Inc.
- Altec Industries
- Move, Inc.
- Rent-A-Truck.RU
- Cargo Rental
- STT Logistics
- Lizily
- Trucklend
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“The Russian government’s initiatives aimed at limiting the number of vehicles have greatly increased the demand for truck leasing and rental to facilitate the transportation sector. Expanding the automotive industry and easier facilitation of the internet-based service avail drive the market growth in the country. Higher dependency on the by-road transportation of the products and efficient tracking services of the goods also adds value to the growth of the Russia truck leasing & rental market in the future five years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Russia Truck Leasing & Rental Market By Type (Lease, Rental), By Lease Type (Financial Lease, Full Service/Operational Lease, Third Party Lease), By Truck Type (Light Duty, Heavy Duty, Medium Duty), By End Use Industry (Oil & Gas, FMCG, E-Commerce, Mining, Construction, Others), By Booking (Online, Offline), By Vehicle Type (Fully Build, Customizable), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of Russia truck leasing & rental market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Russia truck leasing & rental market.
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As per Market Research Future (MRFR), the global truck rental market is expected to register a CAGR of 15.3% from 2019 to 2024 (forecast period).
The report examines the effect of the COVID-19 pandemic on the global truck rental market and presents a reliable analysis of the expected volatility in demand over the forecast period.Truck rental involves the hire and lease of heavy commercial trucks or light commercial vehicles.
Truck rental is mainly used by individuals, businesses, and agencies who do not own their truck fleets but still participate in freight transport as a service.Market DynamicsConstantly growing demand for trucks from the logistics, industrial, and construction sectors and rapid population growth are some of the factors driving the global truck rental market.
In addition, fleet owners are actively working on cost-cutting steps to provide cost-effective fleet solutions.
As a result, fleet owners are taking the option of renting trucks to dramatically reduce transport costs in order to handle costs effectively.Leasing or renting a truck eliminates operational risks resulting from seasonal demand for transport and the volatility of contracts, which is driving the truck rental industry all over the world.
In addition, the leasing of a truck is an efficient and extremely cost-effective alternative compared to the purchase of a truck since it provides the owner with a mobility option without having to incur the costs of ownership of the vehicle.
OverviewThe Truck Rental Market is anticipated to grow rapidly at a CAGR of 15.3% during the forecast period.
The global truck rental market is driven by continuously increasing demand for trucks from different industry verticals and rapid population growth.
These factors have helped shape the truck rental market and are expected to boost the growth.
The performance of the truck rental market has also been studied for the past and current years.
The truck rental market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world.
New companies and established businesses can plan their strategies based on this data provided in the truck rental market research report.Key PlayersThe prominent players in the Global Truck Rental Industry are AMERCO (US), PACCAR Leasing Company (US), Penske Truck Leasing Co., L.P. (US), Ryder System, Inc. (US), Sixt SE (Germany), United Rentals, Inc. (US) Almano (US), Advantage Rent-a-car (US), Avis Budget Group Inc. (US), Budget Car Rental (US), MAX Rental.lu AG (Luxembourg), and Europcar (UK).Buy Now @ https://www.marketresearchfuture.com/checkout?currency=one_user-USD_id=7825Table of ContentExecutive SummaryScope Of The Report2.1.
