The China Truck Leasing & Rental Market may register growth with higher freight movement service demands in the future years. According to TechSci report on, “China Truck Leasing & Rental Market – By Region, Competition Forecast & Opportunities, 2027”. China’s 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 China truck leasing & rental market in the upcoming five years.
Important Factors of China 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 China 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 the rental service, efficient payment channels through online pathways, etc. also facilitate the growth of the China 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, the internet of things, and GPS monitoring of the trucks, also fuels the growth of the China 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 China truck leasing & rental market in the forecast period.
Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on the “China Truck leasing & rental Market“
The China 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 China 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 China 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 to the segmental growth and the growth of the China 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 Western Region, Northern and Central Region, Eastern Region, and Southern Region.
A partial list of major market players in the China truck leasing & rental market includes:
- Diversified Truck Leasing.
- Valley Truck Leasing Inc.
- Idealease, Inc.
- Tricon Leasing Group L.L.C.
- Aim Transportation Solutions
- Airoldi Brothers
- Kris Way Truck Leasing
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“The Chinese 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 China 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.
“China 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 China 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 China truck leasing & rental market.
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