Commercial Vehicle Rental and Leasing Market Report 2025 (Global Edition)

Global Commercial Vehicle Rental and Leasing Market Report 2025 Market Size Split by Type (Enterprises Leasing, Personal Leasing), by Application (Car, Light Truck, Heavy/Medium Trucks)

Commercial Vehicle Rental and Leasing Market Report Description

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Competitive Landscape of the Commercial Vehicle Rental and Leasing market

In the competitive landscape of the commercial vehicle rental and leasing market, several key players dominate the industry, including major rental companies, regional players, and fleet management companies. Enterprise Holdings, Hertz Global Holdings, and Avis Budget Group are among the largest rental companies globally, offering a wide range of commercial vehicles for short and long-term rental.

Commercial Vehicle Rental and Leasing Industry News 

In January 2021 - Europcar Approved the Financial Restructuring Plan Europcar affirmed the monetary rebuilding plan attributable to the impacts of COVID-19 on the organization's business. As per the new plan, the company's creditors shall decrease the company's car rental debts by a huge amount in exchange for shares and control of the company.

(Source:https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/europcar-completes-debt-restructuring-62921194)

In March 2021 - Hertz Global Holdings Sold Donlen Corporation to Athene Holding Hertz Global Holdings sold its wholly-owned subsidiary, Donlen Corporation to Athene Holdings for USD 891 million. The sale was as per Hertz's financial restructuring plan amid the COVID-19 pandemic.

(Source:https://www.prnewswire.com/news-releases/hertz-global-holdings-completes-sale-of-fleet-management-leader-donlen-corporation-to-athene-holding-301258656.html)

Top Companies Market Share in Commercial Vehicle Rental and Leasing Industry: (In no particular order of Rank)

• The Hertz Corporation (U.S.)
• Enterprise Holdings Inc. (U.S.)
• SIXT SE (Germany)
• ALD Automotive (France)
• Localiza (Brazil)
• Unidas (U.S.)
• PACCAR Leasing Company (U.S.)
• Penske Automotive Group Inc. (U.S.)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of Commercial Vehicle Rental and Leasing Market

Which Region Dominates the Commercial Vehicle Rental and Leasing Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. North America's dominance in the Commercial Vehicle Rental and Leasing market can be attributed to several factors. Firstly, the region has a highly developed transportation and logistics industry, with a large number of businesses relying on commercial vehicles for their operations. This creates a strong demand for rental and leasing services. Additionally, North America has a well-established network of rental and leasing companies, offering a wide range of vehicles to cater to various business needs. The region's strong economy and stable business environment also contribute to the growth of the commercial vehicle rental and leasing market. Furthermore, the presence of major automotive manufacturers and suppliers in North America ensures a steady supply of vehicles, driving further growth in the market.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific is experiencing rapid growth in the Commercial Vehicle Rental and Leasing market due to several key factors. One significant factor is the region's expanding industrial and commercial sectors, leading to increased demand for commercial vehicles for transportation and logistics. The rise of e-commerce and the need for efficient last-mile delivery services have further boosted this demand. Additionally, the increasing urbanization and infrastructure development in countries like China, India, and Southeast Asian nations have spurred the need for rental and leasing services to support construction and other industries.

The current report Scope analyzes Commercial Vehicle Rental and Leasing Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Commercial Vehicle Rental and Leasing Market Analysis

According to Cognitive Market Research, the global Commercial Vehicle Rental and Leasing market size was estimated at USD 78152.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 31260.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031. The commercial vehicle rental and leasing market in North America is a robust and dynamic sector, driven by several key factors. The region boasts a strong economy, which has led to a high demand for commercial vehicles across various industries such as logistics, construction, and transportation. The presence of major players in the automotive industry further contributes to the growth of the market, as they offer a wide range of vehicles for rental and leasing purposes. In terms of segmentation, the market can be divided based on vehicle types such as cars, light trucks, and heavy/medium trucks. Each segment caters to different needs and industries, with heavy/medium trucks being the dominant category due to their widespread use in logistics and construction. In conclusion, the commercial vehicle rental and leasing market in North America is thriving, driven by a strong economy, well-developed infrastructure, and diverse industry demands. The market offers a range of vehicles and leasing options to meet the needs of various businesses.

Country Analysis

• According to Cognitive Market Research, the US had a major share in the Commercial Vehicle Rental and Leasing market with a market size of USD 24664.83 million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. The demand is amplified by the nation's presence of major players in the automotive industry. 
• The Canada Commercial Vehicle Rental and Leasing market had a market share of USD 3751.31 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. Canada's strong economy, well-developed infrastructure, and diverse industry demands.
• The Mexico Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 5.7% during the forecast period with a market size of USD 2844.74 million in 2024.

Europe Commercial Vehicle Rental and Leasing Market Analysis

According to Cognitive Market Research, the global Commercial Vehicle Rental and Leasing market size was estimated at USD 78152.2 Million out of which Europe market of more than 30% of the global revenue with a market size of USD 23445.66 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031. The commercial vehicle rental and leasing market in Europe is a vibrant and dynamic sector, influenced by various economic and industrial factors. Europe is home to several major automotive manufacturers and has a well-established transportation infrastructure, which contributes significantly to the growth of the market. The region's diverse economy and strong industrial base drive the demand for commercial vehicles across different sectors such as logistics, construction, and tourism. In terms of segmentation, the market can be divided based on vehicle types such as cars, light trucks, and heavy/medium trucks. Each segment caters to different needs and industries, with heavy/medium trucks being the dominant category due to their extensive use in transportation and logistics. In conclusion, the commercial vehicle rental and leasing market in Europe is poised for significant growth, driven by factors such as a strong economy, well-established infrastructure, and stringent emission regulations. The market offers a wide range of vehicles and leasing options to meet the diverse needs of businesses across various sectors.

• The United Kingdom Commercial Vehicle Rental and Leasing market had a market share of USD 3938.87 million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. In the UK, Commercial Vehicle Rental and Leasing sales witness an upswing due to the region's diverse economy and strong industrial base drive the demand for commercial vehicles across different sectors such as logistics, construction, and tourism.
• The France Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 4.7% during the forecast period with a market size of USD 2157.00 million in 2024.
• According to Cognitive Market Research, the Germany Commercial Vehicle Rental and Leasing market size was valued at USD 4642.24 million in 2024 and is projected to grow at a CAGR of 5.7% during the forecast period. In Germany, Commercial Vehicle Rental and Leasing sales surge due to the strong economy, well-established infrastructure, and stringent emission regulations. 
• The Italy Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 4.9% during the forecast period with a market size of USD 2016.33 million in 2024.
• The Russia Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 4.5% during the forecast period with a market size of USD 3634.08 million in 2024.
• The Spain Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD 1922.54 million in 2024.
• The Luxembourg Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 5.6% during the forecast period with a market size of USD 726.82 million in 2024.
• The Portugal Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 5.3% during the forecast period with a market size of USD 492.36 million in 2024.
• The Greece Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 5.8% during the forecast period with a market size of USD 281.35 million in 2024.
• Rest of Europe Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 4.2% during the forecast period with a market size of USD 3634.08 million in 2024.

Asia Pacific Commercial Vehicle Rental and Leasing Market Analysis

According to Cognitive Market Research, the global Commercial Vehicle Rental and Leasing market size was estimated at USD 78152.2 Million out of which Asia Pacific is the fastest growing market of more than 30% of the global revenue with a market size of USD 23445.66 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031. The Asia Pacific region is experiencing rapid growth in the commercial vehicle rental and leasing market, driven by several factors. The region's burgeoning economy and industrialization have led to an increased demand for commercial vehicles across various sectors such as logistics, construction, and tourism. Moreover, the rise of e-commerce and urbanization has further fueled the demand for commercial vehicles for transportation and delivery services. In terms of segmentation, the market can be divided based on vehicle types such as cars, light trucks, and heavy/medium trucks. Each segment caters to different needs and industries, with light trucks being particularly popular for logistics and transportation in urban areas.In conclusion, the Asia Pacific region presents a promising landscape for the commercial vehicle rental and leasing market, driven by economic growth, infrastructural development, and changing consumer behavior. The market offers a wide range of vehicles and leasing options to meet the diverse needs of businesses across various sectors.

• According to Cognitive Market Research, the China Commercial Vehicle Rental and Leasing market size was valued at USD 8088.75 million in 2024 and is projected to grow at a CAGR of 8.5% during the forecast period. Commercial Vehicle Rental and Leasing sales surge in China due to the region's burgeoning economy and industrialization.
• The Japan Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 7.5% during the forecast period with a market size of USD 2480.55 million in 2024.
• The India Commercial Vehicle Rental and Leasing market had a market share of USD 2157.00 million in 2024 and is projected to grow at a CAGR of 10.8% during the forecast period. The demand is augmented by India's economic growth, infrastructural development.
• The South Korea Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 8.1% during the forecast period with a market size of USD 1797.50 million in 2024.
• The Australia Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 8.7% during the forecast period with a market size of USD 934.70 million in 2024.
• The South East Asia Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 10.0% during the forecast period with a market size of USD 1240.28 million in 2024.
• The Rest of Asia Pacific Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 8.8% during the forecast period with a market size of USD 1276.23 million in 2024.

South America Commercial Vehicle Rental and Leasing Market Analysis

According to Cognitive Market Research, the global Commercial Vehicle Rental and Leasing market size was estimated at USD 78152.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 3907.61 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031. Latin America is a region with diverse landscapes and economies, which impacts the commercial vehicle rental and leasing market. The region is characterized by a mix of developed and emerging economies, each with its own dynamics and challenges. Countries like Brazil, Mexico, and Argentina are major players in the market, driven by industrial activities, trade, and tourism. Segmentation in the Latin America commercial vehicle rental and leasing market can be based on vehicle types, including cars, light trucks, and heavy/medium trucks. Each segment caters to different industries and purposes, with light trucks often preferred for logistics and transportation in urban areas. In conclusion, Latin America presents a mixed landscape for the commercial vehicle rental and leasing market, with opportunities and challenges across different countries. The region's economic diversity and varying levels of infrastructure development impact the market dynamics.

• According to Cognitive Market Research, the Brazil Commercial Vehicle Rental and Leasing market size was valued at USD 1672.46 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. Commercial Vehicle Rental and Leasing sales flourish in Brazil due to the industrial activities, trade, and tourism.
• The Argentina Commercial Vehicle Rental and Leasing market had a market share of USD 656.48 million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period. The demand is augmented by Argentina's region's economic diversity and varying levels of infrastructure development.
• The Colombia Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 6.2% during the forecast period with a market size of USD 347.78 million in 2024.
• The Peru Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 6.6% during the forecast period with a market size of USD 320.42 million in 2024.
• The Chile Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 6.7% during the forecast period with a market size of USD 281.35 million in 2024.
• The Rest of Latin America Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 5.5% during the forecast period with a market size of USD 629.13 million in 2024.

Middle East Commercial Vehicle Rental and Leasing Market Analysis

According to Cognitive Market Research, the global Commercial Vehicle Rental and Leasing market size was estimated at USD 78152.2 Million out of which Middle East and Africa market of more than 2.00% of the global revenue with a market size of USD 1563.04 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031. The Middle East and Africa region present a unique landscape for the commercial vehicle rental and leasing market. The region is characterized by a mix of developed and developing economies, each with its own set of challenges and opportunities. Countries like the UAE, Saudi Arabia, and South Africa are key players in the market, driven by factors such as infrastructure development, tourism, and industrial activities. Segmentation in the Middle East and Africa commercial vehicle rental and leasing market can be based on vehicle types, including cars, light trucks, and heavy/medium trucks. Each segment caters to different industries and purposes, with light trucks often preferred for logistics and transportation in urban areas. In conclusion, the Middle East and Africa present a dynamic landscape for the commercial vehicle rental and leasing market, with opportunities and challenges across different countries. The region's economic diversity and varying levels of infrastructure development impact the market dynamics.

• According to Cognitive Market Research, the GCC Countries Commercial Vehicle Rental and Leasing market size was valued at USD 668.98 million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. Commercial Vehicle Rental and Leasing sales flourish in the GCC Countries due to the region's geopolitical factors, government regulations, and economic stability.
• The Egypt Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 7.0% during the forecast period with a market size of USD 164.12 million in 2024.
• The South Africa Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 7.7% during the forecast period with a market size of USD 246.96 million in 2024.Commercial Vehicle Rental and Leasing sales flourish in the South Africa due to the region's growing industrialization, trade activities, and increasing urbanization.
• The Turkey Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 6.2% during the forecast period with a market size of USD 134.42 million in 2024.
• The Nigeria Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 5.8% during the forecast period with a market size of USD 164.12 million in 2024.
• The Rest of MEA Commercial Vehicle Rental and Leasing market is projected to witness growth at a CAGR of 5.7% during the forecast period with a market size of USD 184.44 million in 2024.

Commercial Vehicle Rental and Leasing Market Analysis

Commercial Vehicle Rental and Leasing Application Segment Analysis

According to Cognitive Market Research, Enterprises leasing is the dominant category in the commercial vehicle rental and leasing market. This segment includes businesses that lease vehicles for commercial purposes, such as logistics, transportation, and construction companies. The dominance of enterprises leasing can be attributed to several factors. Firstly, businesses often require a fleet of vehicles to support their operations, and leasing provides a cost-effective alternative to purchasing vehicles outright.

Personal leasing is the fastest-growing category in the commercial vehicle rental and leasing market. This segment includes individuals who lease vehicles for personal use, such as commuting or leisure activities. The growth of personal leasing can be attributed to several factors. Firstly, changing consumer preferences and lifestyles have led to an increased demand for flexible transportation solutions.

• Enterprises Leasing
• Personal Leasing

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Commercial Vehicle Rental and Leasing Industry. Request a Free Sample PDF!

Commercial Vehicle Rental and Leasing Vehicle Type Segment Analysis 

According to Cognitive Market Research, Heavy and medium trucks are the dominant category in the commercial vehicle rental and leasing market. These vehicles are widely used in industries such as logistics, construction, and transportation for their ability to carry heavy loads over long distances. The dominance of heavy and medium trucks can be attributed to several factors. Firstly, businesses often require these types of vehicles to transport goods and materials, making them essential for many industries.

Light trucks are the fastest-growing category in the commercial vehicle rental and leasing market. Light trucks are commonly used for various purposes, such as delivery services, construction, and small-scale transportation. The growth of light trucks can be attributed to several factors. Firstly, the increasing demand for last-mile delivery services has driven the need for light trucks. With the rise of e-commerce, businesses are looking for efficient ways to deliver goods to customers, leading to an increased demand for light trucks.

• Car
• Light Truck
• Heavy/Medium Trucks

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in the Transport & Logistics domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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