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    Canada Truck Rental Market

    ID: MRFR/AM/44201-HCR
    200 Pages
    Garvit Vyas
    October 2025

    Canada Truck Rental Market Research Report By Truck Type (Heavy Commercial Vehicle, Light Commercial Vehicle) and By Lease Type (Finance Lease, Full-Service Lease)- Forecast to 2035

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    Canada Truck Rental Market Infographic
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    Canada Truck Rental Market Summary

    The Canada Truck Rental market is projected to grow from 5.5 USD Billion in 2024 to 15.5 USD Billion by 2035.

    Key Market Trends & Highlights

    Canada Truck Rental Key Trends and Highlights

    • The market is expected to experience a compound annual growth rate of 9.88 percent from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 15.5 USD Billion, indicating robust growth.
    • In 2024, the market is valued at 5.5 USD Billion, reflecting a strong foundation for future expansion.
    • Growing adoption of truck rental services due to increasing urbanization is a major market driver.

    Market Size & Forecast

    2024 Market Size 5.5 (USD Billion)
    2035 Market Size 15.5 (USD Billion)
    CAGR (2025-2035) 9.88%

    Major Players

    ACME RentATruck, Reno Depot, Canadian Tire, Tandem Truck Rentals, UHaul, Budget Truck Rental, GoRentals, Ryder System, Goin' Postal, Penske Truck Leasing, Enterprise Truck Rental, Truxx, Avis Truck Rental, Kijiji, National Car Rental

    Canada Truck Rental Market Trends

    In the Canada Truck Rental Market, a prominent trend is the increasing demand for flexible rental solutions. As the economy evolves, businesses across various sectors, including construction and logistics, are seeking short-term rental options that allow them to adapt quickly to changing demands. This shift is driven by the need to optimize operational costs and manage fluctuating workloads without the burden of long-term commitments. Additionally, the rise of e-commerce has significantly influenced the market, with many companies needing additional transportation capabilities to meet customer expectations for fast deliveries.

    Market Segment Insights

    Truck Rental Market Truck Type Insights

    The Canada Truck Rental Market has shown considerable dynamism within the Truck Type segment, which plays a pivotal role in the overall growth and evolution of the industry. This segment is primarily categorized into Heavy Commercial Vehicles and Light Commercial Vehicles, each serving distinct needs across various sectors of the economy. Heavy Commercial Vehicles are increasingly favored for their robustness and payload capacity, making them essential for industries such as construction, logistics, and long-distance transportation. Their significance is underscored by the rising demand for efficient freight transport solutions, driven by economic activities and cross-border trade with the United States.

    Simultaneously, Light Commercial Vehicles cater to urban logistics, small businesses, and distribution services, emphasizing their agility and versatility compared to their heavier counterparts. The trend towards lightweight, fuel-efficient commercial vehicles is gaining ground as businesses seek to lower operational costs and meet environmental regulations. Furthermore, regulatory bodies in Canada are continuously updating standards related to emissions and fuel efficiency, thus influencing the design and operation of both Heavy and Light Commercial Vehicles.

    The growth of e-commerce and last-mile delivery services in urban and suburban areas is contributing to the increased adoption of Light Commercial Vehicles, demonstrating their importance within the Truck Rental Market. Additionally, advancements in telematics and fleet management technologies are enhancing operational efficiencies and expenditures in the rental sector, further solidifying the segment's role in the economy. Together, these insights indicate a robust structure and promising potential for Truck Type within the broader framework of the Canada Truck Rental Market.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Truck Rental Market Lease Type Insights

    The Lease Type segment within the Canada Truck Rental Market exhibits a dynamic framework that influences rental choices and fleet management. This segment significantly enriches the market due to its flexibility and cost-effectiveness. Finance Lease allows businesses to utilize trucks without significant upfront capital, making it an attractive option for many small to medium enterprises that drive a considerable portion of Canada’s economy. In contrast, Full-Service Lease provides an all-inclusive approach, covering maintenance and other services, which proves essential for companies seeking hassle-free operations.

    This model is particularly favorable for industries reliant on logistics, enabling companies to focus on their core competencies while minimizing operational downtime. With the increasing number of e-commerce businesses in Canada, the demand for both leasing types is poised to grow. As the Canada Truck Rental Market industry continues to adapt to evolving consumer needs, these leasing options present significant growth drivers, highlighting their essential role in transportation and logistics sectors throughout the region.

    Get more detailed insights about Canada Truck Rental Market

    Key Players and Competitive Insights

    The Canada Truck Rental Market presents a dynamic landscape characterized by numerous key players vying for market share through competitive strategies such as pricing, service quality, fleet diversification, and innovative rental options. With the increasing demand for freight transportation, moving services, and logistics support from various sectors, including construction, retail, and personal relocation, companies are continually adapting to consumer preferences and operational efficiency. Understanding competitive insights in this market involves analyzing market trends, customer behavior, and the strategic moves made by existing players to seize opportunities and address challenges such as fluctuating economic conditions and regulatory changes.

    The competitive scene is further intensified by the emergence of rental platforms and services that leverage digital technology to enhance consumer experiences and streamline operations.ACME RentATruck establishes a notable position within the Canada Truck Rental Market owing to its robust fleet of vehicles, ranging from light to heavy-duty trucks. The company's strengths lie in its extensive branch network across major provinces, which enables it to provide localized services while maintaining a seamless logistics framework. ACME RentATruck emphasizes customer satisfaction, offering tailored rental solutions that cater to both commercial and individual needs. 

    Their investment in advanced technologies for vehicle tracking and fleet management optimizes operational efficiencies and customer engagement. Additionally, the company's focus on maintaining a modern and reliable fleet enhances its reputation among consumers, solidifying its competitive edge in a growing market. Reno Depot is recognized for its significant contributions to the Canada Truck Rental Market, particularly through an extensive range of rental trucks suited for diverse applications, including home improvement, construction, and logistics. By offering a well-rounded selection of vehicles, Reno Depot addresses varied operational requirements, catering to both DIY customers and professionals.

    With a strong presence in key Canadian cities, the company's strengths include its competitive pricing strategy and commitment to superior customer service, bolstered by a loyalty program that encourages repeat business. Reno Depot’s proactive approach to mergers and acquisitions has also enhanced its market reach and operational capabilities, allowing it to better serve customers and streamline its service offerings. The combination of high-quality products, a strong distribution network, and customer-centric policies positions Reno Depot favorably within the competitive terrain of the Canadian truck rental industry.

    Key Companies in the Canada Truck Rental Market market include

    Industry Developments

    Recent developments in the Canada Truck Rental Market have seen a growing demand, driven by a resurgence in the logistics and transportation sectors. Companies like U-Haul and Budget Truck Rental have expanded their fleets and service locations to accommodate the rising need for last-mile delivery solutions and DIY moving services, particularly during peak moving seasons. In September 2023, ACME RentATruck reported a notable increase in rental bookings, suggesting a robust recovery in the small business sector.

    Furthermore, the market valuation of leading companies is witnessing significant growth, with forecasts indicating an uptrend due to the rising e-commerce activities. On the merger and acquisition front, no recent publicly confirmed acquisitions have been noted among the key players in the Canada Truck Rental Market including Ryder System and Penske Truck Leasing, contributing to market stability.

    In the last two to three years, the market has experienced shifts with the expansion strategies from firms like Enterprise Truck Rental and Truxx, emphasizing the need for flexible, accessible, and affordable truck rental solutions to meet the diverse demands of Canadian consumers, particularly in urban centers.

    Market Segmentation

    Outlook

    • Finance Lease
    • Full-Service Lease

    Truck Rental MarketLease TypeOutlook

    • Finance Lease
    • Full-Service Lease

    Truck Rental MarketTruck TypeOutlook

    • Heavy Commercial Vehicle
    • Light Commercial Vehicle

    Report Scope

    Report Attribute/Metric Source: Details
    MARKET SIZE 2018 4.76 (USD Billion)
    MARKET SIZE 2024 5.5 (USD Billion)
    MARKET SIZE 2035 15.5 (USD Billion)
    COMPOUND ANNUAL GROWTH RATE (CAGR) 9.877% (2025 - 2035)
    REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    BASE YEAR 2024
    MARKET FORECAST PERIOD 2025 - 2035
    HISTORICAL DATA 2019 - 2024
    MARKET FORECAST UNITS USD Billion
    KEY COMPANIES PROFILED ACME RentATruck, Reno Depot, Canadian Tire, Tandem Truck Rentals, UHaul, Budget Truck Rental, GoRentals, Ryder System, Goin' Postal, Penske Truck Leasing, Enterprise Truck Rental, Truxx, Avis Truck Rental, Kijiji, National Car Rental
    SEGMENTS COVERED Truck Type, Lease Type
    KEY MARKET OPPORTUNITIES Growing e-commerce logistics demand, Urban mobility solutions adoption, Fleet management technology integration, Short-term rental flexibility, Sustainable transportation initiatives
    KEY MARKET DYNAMICS Growing demand for logistics services, Increased e-commerce activities, Expansion of rental fleets, Rising urbanization and mobility needs, Competitive pricing strategies
    COUNTRIES COVERED Canada

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    FAQs

    What is the expected market size of the Canada Truck Rental Market in 2024?

    The Canada Truck Rental Market is expected to be valued at 5.5 USD Billion in 2024.

    What is the projected market size of the Canada Truck Rental Market by 2035?

    By 2035, the Canada Truck Rental Market is projected to reach a value of 15.5 USD Billion.

    What is the compound annual growth rate (CAGR) for the Canada Truck Rental Market during the forecast period?

    The Canada Truck Rental Market is expected to grow at a CAGR of 9.877% from 2025 to 2035.

    Which truck type has the largest market share in 2024 within the Canada Truck Rental Market?

    In 2024, the Heavy Commercial Vehicle segment is valued at 3.3 USD Billion, making it the largest segment.

    What will be the market value of the Light Commercial Vehicle segment in 2035?

    The Light Commercial Vehicle segment of the Canada Truck Rental Market is expected to be valued at 6.0 USD Billion in 2035.

    Who are the key players in the Canada Truck Rental Market?

    Major players in the Canada Truck Rental Market include ACME RentATruck, UHaul, Budget Truck Rental, and Ryder System.

    What are the key growth drivers for the Canada Truck Rental Market?

    Key growth drivers include increasing demand for logistics, urbanization, and the rise in e-commerce deliveries.

    What challenges does the Canada Truck Rental Market face?

    Challenges include competition from alternative transportation methods and fluctuating fuel prices impacting operational costs.

    How does the market value change for Heavy Commercial Vehicles by 2035?

    The Heavy Commercial Vehicle segment is projected to grow to a value of 9.5 USD Billion by 2035.

    What is the impact of global trends on the Canada Truck Rental Market?

    Global trends such as sustainability and technological advancements are shaping the operational practices in the market.

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