Trailer Rental and Leasing Services Market Size, Share, Growth, and Industry Analysis, By Type (Short-term Leasing & Long-term Leasing), By Application (Commercial Use & Personal Use) and Regional Forecast to 2032

TRAILER RENTAL AND LEASING SERVICES MARKET REPORT OVERVIEW

The global Trailer Rental and Leasing Services Market size was USD 4260.19 million in 2024 and the market is projected to touch USD 5484.4 million by 2032, exhibiting a CAGR of 4.30% during the forecast period.

These Services provide customers with alternatives to owning equipment for transportation and storage at cheaper rates compared to purchase by providing rental services without having long-term deals. These companies offer different types of trailers and renting services that include both commercial and household uses, for instance, dry vans for moving products, refrigeration trailers carrying perishable items, flatbeds for constructors’ use, and special moving trailers for moving homes, among others. This is particularly important as clients are capable of setting lease options that are subject to their demand, and such leasing services include maintenance services; thus, this allows clients to efficiently manage their fleets and opt to scale up or design their fleet in a way that enhances output and profitability.

COVID-19 Impact: Market Growth Restrained due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

COVID-19 affected the growth of the trailer rental and leasing market by bringing consequences on the supply side of the market, including disruptions in new trailer availability and delivery of parts for maintenance. The closure and limitations that were put in place at the start meant that markets such as construction and manufacturing, which are major users of towbar services, saw a decrease in demand for their products. Also, due to the financial effects of the pandemic and lower spending rates for corporations, fewer organisations focused on leasing. The general economic conditions in the world also affected the usage of equipment and rentals, and leasing companies felt the heat and oxygen needed to survive were in the form of tender rates and flexibility to compete in the market.

LATEST TRENDS

"Increased Use of Digital and Telematics to Propel the Market Growth"

Some new trends in the trailer rental and leasing markets involve an increased use of digital and telematics, which provide real-time information about the location of vehicles and the overall condition of the rented or leased fleet. This can partially be explained by the fact that the majority of the companies are trying to shift towards electric and more environmentally friendly trailers so as to ensure compliance with ecological standards. You will find that people are now opting for flexible and short-term rental agreements as well as subscription services to address current fluctuating and unpredictable economic conditions.

TRAILER RENTAL AND LEASING SERVICES MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Short-term Leasing & Long-term Leasing

• Short-term Leasing: Often lasts for several days to several months. This provides a very high degree of flexibility to businesses that operate with certain volatility in terms of demand. Higher on a daily basis compared with daily prices in long-term leases, but does not pin down the taker for a long-term contract.
• Long-term Leasing: Ranges from a period of several months to several years. A lower per-day cost because of the long-term commitment, hence suitable for long-term usage. Facilitates stability and reliability in the planning and, therefore, in the estimation of logistics costs in business.

By Application

Based on application the market can be categorized into Commercial Use & Personal Use

• Commercial Use: Various sectors of transportation that are popular with businesses include the transportation of products in industries like logistics, retail, construction, and agricultural. Concerns the usage of several trailers in order to fulfil the needs of the commercial fleet and control the efficiency of logistics. Industry niches that include bespoke solutions for addressing specific needs of a business, for instance, the provision of specific trailers for perishable goods or bulky equipment.
• Personal Use: Offers trailers for people or families who may be moving homes, allowing homeowners to choose a date on which they prefer to move and an economical way of moving rather than hiring professional movers. Provides trailers for use during camping and the towing of recreational vehicles, among others, to satisfy the needs of enthusiasts. Aids people engaging in do-it-yourself work or remodelling by offering means of storage or transportation of items and tools.

DRIVING FACTORS

"Economic Factors to Expand the Market"

One of the key driving factors of Trailer Rental and Leasing Services Market growth is Economic Factors. Hire and Lease Trailer services are a result of economic activities such as growth in the economy, industries, and infrastructure development. This arises when a business is undertaking an expansion of its operations or needs to acquire some means of transport for a short time, and leasing is cheaper than a purchase.

"E-commerce Growth to Advance the Market"

The development of e-commerce has enormously increased the transportation and logistics requirements, such as trailer rental and leasing. The introduction of online retail businesses requires better solutions for delivering merchandise to customers, including the last leg of the journey.

RESTRAINING FACTOR

"Regulatory Compliance and Safety Standards to Pose Potential Impediments on this Market"

One of the crucial issues that affect the business is the challenge that comes with the effort to meet all regulatory standards and safety demands. Measures that deal with the maintenance of vehicles, the qualifications and standards of drivers, and the transport of cargo may at times be costly and time-consuming. Negligence in implementing these compliances can lead to fines, legal losses, and reputational losses. This means that it’s paramount for any organisation to spend much on compliance and continued training.

TRAILER RENTAL AND LEASING SERVICES MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America to Dominate the Market due to its Developed Transportation and Logistics Facilities"

North America has emerged as the most dominant region in the Trailer Rental and Leasing Services Market share as the mobility of products in the specified geographical location is tightly linked with the developed transportation and logistics facilities, numerous roads, and sophisticated supply chains that create conditions for the constantly high demand for trailers for rent and lease. Secondly, North America has a concentration of leading trailer rental and leasing companies with various types of trailers and multiple leasing plan options to meet customers’ varying needs. Further, the increasing market for the e-commerce industry in combination with other industries such as manufacturing, retail, and agriculture in the region provides a continual demand for short-term and long-term rental or leasing of trailers.

KEY INDUSTRY PLAYERS

"Key Players Transforming the Trailer Rental and Leasing Services Market through Technologies"

Market leaders hold the following values capable of impacting the mobile trailer rental and leasing industry due to their large fleets, numerous services they offer, and market dominance. Such players establish market norms, develop technologies, and constantly redefine competition in a specific market. Because they will have extensive networks and operations on a large scale nationally or even internationally, they will be in a position to provide leasing services with numerous types of trailers, flexible tenancy agreements, and some additional services such as maintenance services and telematics. Furthermore, the cash-rich companies and their strong purchasing power make them capable of bargaining with manufacturers and suppliers, so they can offer the best price quotes to their customers.

List of Market Players Profiled

• Cooling Concepts (U.S.)
• TIP Trailer Services (Netherlands)
• AAA Trailer Leasing (U.S.)
• Commercial Trailer Leasing (U.S.)
• BS Trailer Services (U.K.)

INDUSTRIAL DEVELOPMENT

2024: In 2024, UT Trailer Company, one of the leading companies in the market for trailer manufacturing and rental sales, began manufacturing and selling the next generation of refrigerated trailers that are equipped with new telematics systems. This system does not only refer to the methodical identification of the place of a person or an object. It enables monitoring of temperature information that is crucial within the send unit, fuel consumption, as well as getting a notification when the doors are opened or closed in the trailer.

REPORT COVERAGE

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global Trailer Rental and Leasing Services Market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.