The Truck Rental industry exhibits several characteristics of a mature industry, such as growth similar to that of the domestic economy and clearly defined downstream markets. The rental and leasing of trucks is an old practice; its importance to the economy has historically risen in line with the development of the US interstate highway system and growth in freight transport. Truck freight shipping has become even more entrenched in the national economy over the past decade as increased trade and improvements in logistics have expanded the amount of freight being shipped by truck across the country.
The growing participation from private players and increasing government initiatives is anticipated to drive the growth prospects for the global tractor rental market until the end of 2017. The agricultural sector in the majority of economies across the globe is focusing on the improvement of their farm productivity. Consequently, the government is taking up more initiatives to improve agricultural activities by increasing its expenditure on the agricultural technologies.
The increasing consolidation of fragmented lands in Europe and the Americas is estimated to drive the growth prospects for the global tractor rental market in the coming years. Since the return on investment witnessed from the larger farms is much greater than the smaller farms, the trend of land consolidation in the Americas and Europe is significantly growing. For instance, large companies such as Farm and Ranch supply stores in the US, Monsanto, and Archer-Daniels Midland have started dominating the agricultural market.
In 2018, the global Tractor Rental market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.
This report focuses on the global Tractor Rental status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Tractor Rental development in United States, Europe and China.
The key players covered in this study
Market segment by Type, the product can be split into
Low- Powered Engines
High- Powered Engines
Market segment by Application, split into
Market segment by Regions/Countries, this report covers
Central & South America
The study objectives of this report are:
To analyze global Tractor Rental status, future forecast, growth opportunity, key market and key players.
To present the Tractor Rental development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
In this study, the years considered to estimate the market size of Tractor Rental are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.