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Automotive Leaf Spring Market Research Report – Global Forecast till 2025
According to a report issued by Market Research Future (MRFR), the global automotive leaf spring market is poised to acquire a significant market valuation at a moderate CAGR over the forecast period. Drivers and Restraints The increase in demand for light commercial vehicles and the need for vehicle comfort and safety are the primary drivers of the global automotive leaf spring market during the forecast period. Moreover, the rise in the adoption of lightweight components to decrease vehicle weight is projected to increase the need for composite automotive leaf springs over the review period. On the other hand, automotive leaf springs are primarily traded from the low-cost manufacturing hubs such as Mexico and China to the higher consumption zones such as the US and Germany. therefore, the uncertainty and change in the trade policies are expected to hinder the demand for automotive leaf spring in the emerging economies in the global market during the forecast period. Segmental Analysis The global market for cloud video streaming is segmented, by Type into Parabolic, Elliptic, Semi-Elliptic, and Others. by Material, the global cloud video streaming market is bifurcated into Metal and Composite. by Sales Channel, the global cloud video streaming market is bifurcated into OEM and Aftermarket. by Vehicle Type, the global cloud video streaming market is bifurcated into Passenger Car and Commercial Vehicle. Regional Analysis The geographical analysis of the global automotive leaf spring market has been conducted in four major regions, namely the Asia Pacific, North America, Europe, and the rest of the world (including Latin America and the Middle East and Africa.) Asia-Pacific is expected to hold the maximum market share in terms of value and volume during the assessment period due to the presence of China, India, Japan, and South Korea. China has the maximum production and consumption of commercial vehicles. This improved the demand for automotive leaf springs and other components in China and other neighboring nations. Asia-Pacific has the top manufacturing and export of automotive leaf spring systems. North America is poised to hold the second-largest market share of the global automotive leaf spring market regarding the value and volume owing to the demand and sales of commercial vehicles. The fast growth of the e-commerce industry in the US and Canada is projected to improve the market for light commercial vehicles to guarantee the timely delivery of the products across the region. This is poised to lead the need for automotive leaf springs in the OEM and aftermarket during the review period. Europe’s automotive leaf spring market is expected to observe growth due to the presence of various developed nations and their patterns of deploying composite automotive leaf springs. Furthermore, the stringent government regulations to meet the safety and comfort standards are projected to raise the sales and demand of automotive leaf springs concerning the value and volume during the forecast period. Competitive Analysis The market players operating in the market for automotive leaf spring systems, as identified by MRFR in the global market are Sogefi SpA (Italy), LITEFLEX (US), Rassini (Mexico), IFC Composite GmbH (Germany), Hendrickson USA, L.L.C. (US), Jamna Auto Industries (India), Emco Industries(India), Benteler-SGL (Austria), and NHK Springs Co. Ltd (Japan), OlgunCelik San. Tic. A.S. (Turkey), among others. The global market for automotive leaf spring systems has a highly competitive scenario. The leading market players are expected to contribute significantly towards the automotive leaf spring market growth over the review period. The market is also expected to witness the rise of numerous entrants in the foreseeable future. Increasing research and development activities towards advanced technology integration along with strategic business tactics such as product development, mergers, acquisitions, partnerships, and joint ventures, to sustain the competitive dynamics. Read More Blog: Automotive Diagnostic Scan Tools Market Automotive Retread Tires
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Automotive Diagnostic Scan Tools Market Research Report – Global Forecast till 2023
The global automotive diagnostic tool market is slated to record a notable market valuation at a CAGR of 5% over the assessment period. Market Drivers and Restraints The global automotive diagnostic tool market is projected to witness considerable growth over the forecast period owing to factors such as the growing intricacy in the structure of vehicles along with increasing incursion of electronics. This leads to an augmented demand for tools and equipment that facilitate the precise diagnosis of automotive faults. The other driving factors for the market growth are the increase in demand for automotive workshops, an inclination of consumers towards high-end technically advanced cars, and the association of OEMs with automotive diagnostic tools manufacturers. The advent of innovative vehicle models and strict government regulation for the reducing of vehicle emission levels have led to the production of advanced diagnostic scan tools by the market players. On the other hand, the phenomenal growth of this market is likely to be restricted by the fluctuating input costs and the immense need for maintaining a balance between the increasing cost and smart technology by the manufacturers. Segmental Analysis The global automotive diagnostic scan tools market is segmented based on the vehicle, types of equipment, product, as well as propulsion, and region. The types of equipment available in the global market are paint scanner, exhaust gas analyzer, wheel alignment, dynamometer, vehicle emission test system, and headlight tester. Among these, the vehicle emission test system is projected to witness the fastest growth over the review period, owing to the escalation in the strict government regulations and norms regarding vehicle emissions. The vehicles that are operating in the market are commercial vehicles and passenger vehicles. Based on the product type, the demand for automotive diagnostic scan tools has been bifurcated into diagnostic software and diagnostic hardware. Lastly, on the basis of the propulsion type, the automotive diagnostic scan tools market has been bifurcated into electric vehicles and ICEs. Regional Analysis The geographical analysis of the global market for automotive diagnostic scan tools North America, Asia Pacific, Europe, and the rest of the world. North America is one of the lucrative regions in the global automotive diagnostic scan tools market and is poised to witness substantial market share over the review period. This is accrued to the established automotive market in the region, with technological advancements and innovations continually taking place in the region. The automotive diagnostic scan tools in North American have constant higher demand and this growing trend is projected to continue to surge over the assessment period. The Asia Pacific region is likely to witness the highest growth in the automotive diagnostic tool market. The primary factor fueling the growth of the automotive diagnostic tool market in the Asia Pacific region is the growth in the preference of consumers for automobiles with innovative technology. The strict government standards that focus on controlling the emission levels from the vehicles also contribute substantially to market growth over the review period. Moreover, the developing economies in the region such as China, India, and Japan, are more inclined to adopt the advanced and easy-to-deploy diagnosis equipment and tools, which also driving the growth of the market over the assessment period. Competitive Analysis The major market players operating in the global automotive diagnostic scan tools market, as identified by MRFR include Delphi Automotive PLC (Ireland), Softing AG (Germany), Denso Corporation (Japan), Robert Bosch GmBH (Germany), Continental AG (Germany), Actia SA (France), AVL List GmBH (Austria), Kpit Technologies (India), Hickok Incorporated (US), and SnapOn Incorporated (US), among others. Read More Blogs: Automotive Retread Tires Automotive Smart Antenna Market Global automotive retread tires market has seen remarkable growth; expected to rise at a CAGR of ~5%12/17/2019 The automotive retread tires are also referred to as remold tires. Retread tires is the process of remanufacturing of worn out and old vehicle tires. The process of remanufacturing replaces the worn out tires with new tires. The remanufacturing of tires includes 20% of the material cost and 90% of the material employed in worn out tires. Additionally, retread tires are ecological product solutions and the vertical is experiencing sustenance from several government authorities which spurs awareness about the application of retread tires. Worldwide automotive retread tires market has experienced substantial growth and is predicted to surge at 5% CAGR. Growing demand for tires from fleet owners is the key influencing factor for the expansion of the global automotive retread tires market. OICA declared that there is a constant rise in the consumption of tires within the passenger car section and specifically in heavy commercial automobiles, which spikes up the requirement for retread tires in the vehicles. Strict government regulations and augmented ecological concerns will augment the demand for retread tires among the consumers and manufacturers. High-cost advantages from the retreading of worn out and old tires will open up new avenues for the new manufacturers within the worldwide market. The tire manufacturers asserts that the retreading of dilapidated tires will save at least 30% of the total cost as compared to the new ones. This influences the environment in a positive way. Bridgestone Corporation and the Goodyear tire manufacturing company is capitalizing heavily in the assessment and development of old tires. However, the US National Highway Traffic Safety Administration (NHTSA) distinguishes the consumer behavior about the usage of retread tires. The NHTSA is conducting research about the section of tire condition from retreading of tires in comparison with new tires. However, awareness and consumer satisfaction related to the retread tire is the key concern for retread tire manufacturers.
Key Players The key players ruling the global automotive retread tires market include The Goodyear Tire & Rubber Company (US), Bridgestone Corporation (Japan), Marangoni S.p.A. (Italy), Michelin (France), MRF Tyres (India), Nokian Tyres plc (Finland), JK Tyres (India), KRAIBURG AUSTRIA GmbH & CO. KG (Austria), Eastern Treads (India), and Pilipinas Kai Rubber Corporation (Philippines). Market Segmentation Worldwide automotive retread tires market is segmented based on sales channel, process type, region, and vehicle type. Based on process type, the market is segmented into mold cure and pre cure. Based on sales channel, the market is segmented into aftermarket and OEM. Based on vehicle type, the market is segmented into light commercial vehicle, heavy commercial vehicle, and passenger car. Regional Analysis Based on geography, the global market for the automotive retread tires is categorized into Asia-Pacific, Europe, North America, and the Rest of the World. Asia-Pacific market is estimated to represent the largest CAGR for automotive retread tires. Surged vehicle consumption in economies such as India and China is anticipated to affect the sales for the automotive retread tires positively. Surge in strict government regulations and environmental alertness in China and other economies will positively impact the consumption and manufacturing of retread tires in the automobile sector. This in turn triggers the market growth in the APAC market. Europe employed strict norms like EC Regulation 109 and EC Regulation 108 concerning the remanufacturing of commercial vehicle and passenger car tires. These regulations will dictate the recycling of secondhand tires. Besides, in the US, the transport department is prepared to incorporate the “DOTR Number”, which offers you the information about the year and name of the retreaded. The promising government policies is predicted to play a noteworthy role in the positive growth of the automotive retread tires in North America and Europe. The rest of the world includes South America and the Middle East and Africa. The Middle East and Africa is projected to lead the market throughout the assessment period. Read More Blog: Automotive Smart Antenna Market Automotive Electronic Brake System Market Automotive Smart Antenna Market Research Report – Global Forecast till 2023
The global automotive smart antenna market is expected to grow at a robust CAGR of 7.5% over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global automotive smart antenna market is analyzed in full detail in the report, which provides readers with a complete overview of the market’s leading drivers and restraints, major segments, and leading players. Automotive smart antennas are becoming increasingly popular due to the growing demand for connected car technology and in-car infotainment. The growing demand for driver convenience and comfort has driven the need for strong infotainment units capable of providing telecommunications as well as online and radio connectivity. The increasing demand for in-car infotainment units that can dock with the driver’s phone and provide seamless connectivity with the outside world has driven the need for automotive smart antenna. The increasing demand for advanced GPS services and other wireless communication services in vehicles is likely to drive the demand from the global automotive smart antenna market over the forecast period. The growing demand for connected cars is likely to be a major driver for the global automotive smart antenna market over the forecast period. Connected car technology is estimated to make road transportation significantly smoother by enabling communication between vehicles on the road. The growing demand for autonomous cars is also likely to be a major driver for the automotive smart antenna market in this respect, as vehicle to vehicle communication is a crucial reason for the use of autonomous cars. Automotive smart antennas play a fundamentally crucial role in enabling vehicle to vehicle communication, thus driving their demand in the automotive industry. Competitive Analysis: Leading players in the global automotive smart antenna industry include Laird, Kathrein SE, World Products Inc., Antenova M2M, Ace Technologies Corp., West Corporation, Hirschmann Car Communication GmbH, Continental AG, and Ficosa International S.A. In February 2019, Continental AG completed the acquisition of Kathrein Automotive GmbH. This represents a major acquisition for Continental, as Kathrein is a leading manufacturer of intelligent vehicle antennas and significantly bolsters Continental’s product lineup. Segmentation: The global automotive smart antenna market is segmented on the basis of frequency, vehicle type, sales channel, and region. By frequency, the global automotive smart antenna market is segmented into ultra-high frequency, very high frequency, and high frequency. By vehicle type, the global automotive smart antenna market is segmented into passenger cars, commercial vehicles, battery electric vehicles, hybrid electric vehicles, and plug-in hybrid vehicles. By sales channel, the global automotive smart antenna market is segmented into OEMs, original equipment suppliers, and independent aftermarket sales. Regional Analysis: Asia Pacific is likely to dominate the global automotive smart antenna market over the forecast period due to the growing use of technologically advanced products in automotive applications in the region. The growing disposable income of consumers in Asia Pacific has driven the demand for technological sophistications, including wireless connectivity and infotainment systems. The growing demand for premium vehicles in Asia Pacific is likely to be a major driver for the global automotive smart antenna market over the forecast period. China and Japan have emerged as major tech leaders in the automotive industry in recent years on the back of the smooth growth of the automotive industry in these regions in recent years. This is likely to be a major driver for the automotive smart antenna market in Asia Pacific over the forecast period. Europe is also likely to play a major role in the global automotive smart antenna market over the forecast period due to the strong presence of established automotive technology developers in the region. The automotive industry is considered to have its spiritual home in Central Europe, with Germany, France, and Italy housing many of the world’s leading car manufacturers. This is likely to drive the demand from the automotive smart antenna market in Europe over the forecast period, as the demand for premium vehicles equipped with the latest in connectivity tech is relatively high in Europe. Similarly, North America is likely to play a leading role in the global automotive smart antenna market over the forecast period due to the high demand for cars and commercial vehicles equipped with technological sophistications. On the other hand, the Middle East, Africa, and Latin America are likely to exhibit relatively slow growth due to the low disposable income of consumers in these regions. Read More Blog: Global Automotive Camera Market Automotive Throttle Position Sensor Market Global Automotive Active Spoiler Market Research Report- Forecast 2023
The latest report published by Market Research Future (MRFR) asserts that the global active spoiler market is slated to acquire a substantial market valuation at a moderate 6.9% CAGR over the assessment period. Drivers and Restraints In the present time of technological developments, active spoiler plays an essential role in dynamic modifications of the vehicles to change the spoiling effect. Thus, the market for active spoilers is growing at a stable rate due to factors such as the growing demand for the enhanced aerodynamic performance of automobiles. This leads to innovations in the automotive industry. Additionally, the increasing adoption of front and rear dynamic systems in automotive with the purpose of eliminating drag is also contributing to the market development. Simultaneously, other factors such as increasing downforce at high speed are also anticipated to boost the market for the automotive active spoiler in the foreseeable future. It has been noted that frequent practice of active spoilers in the hypercar market, which is creating the demand for high-performance sports cars. Also, the wide-ranging set of applications of active spoilers in sports cars and passenger cars is presumed to augment the market demand for active spoilers. These factors are expected to fuel the active spoiler market growth over the review period. Furthermore, various advantages such as strength-to-weight ratio, higher workability, and corrosion resistance are also expected to expand the demand for carbon fibers, thus thriving the global active spoiler market during the assessment period. On the other hand, the factor such as the rising cost on automotive OEMs can be termed as the strong restraining factor in the market’s growth phase during the forecast period. Segmental Analysis The market for active spoilers, as per the MRFR report, has been analyzed on the basis of the type and material. On the basis of the type, the global active spoilers market has been segmented into the roof spoiler market, lighted spoiler market, front spoiler market, pedestal spoiler market, and lip spoiler market. Based on the material, the market splits into fiberglass, silicone, ABS plastic, carbon fiber. Regional Analysis The geographical analysis of the global market has been conducted in four major regions, namely the Asia Pacific, North America, Europe, and the rest of the world (including Latin America and the Middle East and Africa). Among these regions, North America is recorded to acquire a significant market value share over the forecast period due to the growing popularity of sports cars, which is expected to contribute towards the demand for advanced active spoiler systems. With this, the adoption of active spoilers in passenger cars to provide a better appearance and aerodynamic advantages is also slated to drive the market growth over the review period. In the Europe region, strict government fuel emission regulations are expected to contribute towards a healthy market revenue growth, followed by North America. The regulatory authorities of Europe started to implement CO2 emission reduction technologies, which have generated a positive impact, consequently on the OEMs to produce an improved fuel-efficient design. These influential factors are fueling the market’s growth in this region over the forecast period. Asia-Pacific is also assessed to grow as a lucrative regional market for automotive active spoilers, owing to the presence of major vehicle manufacturers in emerging economies such as China and India. The increasing demand in the automotive industry is expected to impact the need for active spoiler systems directly. Competitive Analysis The leading market players operating in the global active spoiler market identified by MRFR in the global automotive active spoiler market are AUDI AG (Germany), Porsche AG (Germany), Lexus (Japan), McLaren (UK), Daimler AG (Germany), Bugatti Automobiles (France), Pagani Automobili (Italy), BMW AG (Germany), Koenigsegg Automotive AB (Sweden), and Ferrari (Italy). Read More Blog: Automotive Steer-by-Wire System Market Truck Rental Market Automotive Steer-by-Wire System Market Research Report – Forecast to 2023
The global automotive steer-by-wire system market, according to a report by Market Research Future (MRFR), has seen remarkable growth and is expected to register a CAGR of 14%. Drivers and Restraints The growth in demand for better steering functionality in the vehicle is the primary driver for the global automotive steer-by-wire system market. The rising demand for better fuel efficiency due to a continuous increase in fuel prices and massive demand for vehicle comfortability is likely to further drive the global market in terms of both value and volume for the automotive steer-by-wire system. On the other hand, a high amount of technology is slated to limit the growth of the global automotive steer-by-wire system market. In the preliminary phase of the steer-by-wire technology, appropriate technological development is the primary concern for manufacturers as a small mistake is likely to lead to the recall of automobiles in the global market over the review period. Read More About Automotive Steer-by-Wire System Market Future Growth Segmental Analysis The global market for automotive steer-by-wire system is segmented on the basis of fuel type, vehicle type, component, and region. Based on the component, the automotive steer-by-wire system market has been segmented into steering actuators, feedback motors, and angular sensors, others. Based on the propulsion type, the market has been bifurcated into electric and ICE. On the basis of vehicle type, the market for the automotive steer-by-wire system has been segmented into light commercial vehicles, heavy commercial vehicles, and passenger cars. Regional Analysis Geographically, the global market for automotive steer-by-wire systems has been studied in four major regions, namely, Europe, North America, Asia-Pacific, and the Rest of the World (RoW). Europe is touted to hold the highest revenue market share through the review period owing to the presence of crucial automotive consuming countries such as Germany, the UK, Italy, Spain, and Russia. There is a constant increase in awareness about new technologies and their availability at a lower cost by top automobile market players in Europe, which is slated to increase the demand for the latest vehicle components and technologies such as automotive steer-by-wire systems. In Asia-Pacific, the augmented demand for luxury vehicles owing to increased average disposable income and growing purchasing power of consumers are likely to improve the sales for the automotive steer-by-wire system. The Asia Pacific market for automotive steer-by-wire systems is poised to expand substantially over the review period, owing to the established automotive industry in the region. The steady rise in sales across emerging economies in the region, such as India, China, Japan, South Korea, among others, is expected to drive the demand for automotive steer-by-wire systems across the region. North America is also one of the significant regions for automotive steer-by-wire systems and is slated to reach a substantial market share over the review period. The established automotive industry is likely to contribute towards the market growth in the region. Competitive Analysis The major market players in the global automotive steer-by-wire system market include Nissan Motor Company Ltd (Japan), JTEKT Corporation (Japan), ZF Friedrichshafen AG (Germany), and Thyssenkrupp AG (Germany), Paravan GmbH (Germany), Nexteer Automotive (US), Danfoss Power Solutions, Inc. (the US), SKF (Sweden), LORD Corporation (US), and Eaton Corporation (Republic of Ireland), among others. The market players operating in the global insurance market are expected to increase the investments towards research and development activities and expand the competitive dynamics of the global automotive steer-by-wire system market with business strategies such as mergers, acquisitions, joint ventures, and partnerships, among others. These factors, along with the increasing technological integration and advancements being developed by market players are anticipated to create growth opportunities in the market over the review period. Read More Blog: Autonomous Vehicle ECU Market Ride Sharing Market Ride Sharing Market Research Report – Global Forecast till 2023
Ride sharing plays an integral role in enhancing the passenger experience. The global ride-sharing market depends on this factor significantly, which is expecting substantial growth during the forecast period (2018-2023), reveals Market Research Future (MRFR). Ride sharing includes services such as carpooling, and car-hailing has emerged as a concept has gained much traction in the mobility market in recent years, which contributes to the market growth considerably. Read More About Ride Sharing Market Future Growth Market Drivers & Challenges The factors such as rising fuel prices, lack of parking spaces and mounting traffic and congestion, predominantly in metro cities, have had a positive impact on the growth of the ride-sharing market. The study reveals that some developing countries lack proper public transport systems, which has further boosted the demand for ride-sharing and carpooling services. Such situations have also influenced the market constructively and have raised the market valuation at present. With this, the growing regard of electric vehicles for ride-sharing is anticipated to propel growth in the coming years. At the same time, the service that rideshare offers such as one-way or two-way transportation on short notice has convinced the consumers for a comfortable ride. Apart from this, the concept also includes car-sharing, in which two or more passengers travel in the same vehicle, at the same time has also regulated the importance of ridesharing in a significant way. By these factors, the ride-sharing has witnessed tremendous growth in developing economies owing to consumer’s inability to own a vehicle. Such service offers the convenience of travelling comfortably at a lower cost in comparison to travelling in their car. These factors have profoundly impacted the global market of ride-sharing with availing high valuation and is expected to reach more during the assessment period. On the flip side, the safety-related concerns in sharing rides with unknown passengers could pose a risk to the market’s growth. Numerous unpleasant incidents during ride-sharing have also been witnessed recently, which has risen people’s hesitation towards using these services in some regions. These factors could restrain the market from expanding in the other areas, yet the companies are into action in minimizing the hindrance factors to offer more comfortable travel for the customers in the future. Market Segmentation The worldwide ride-sharing market in MRFR’s study has been segmented by type, vehicle type, and business model. In terms of type: E-Hailing, Car Rental, Car Sharing, and Station-Based Mobility are the segments. In terms of vehicle type: ICE Vehicle, CNG/LPG Vehicle, and Electric Vehicle are the segments. In terms of the business model: P2P, B2B, and B2C are the segments. Regional Framework Geographically, the global ride-sharing market study is conducted among the key four regions, namely Europe, Asia-Pacific, North America, and the Rest of the World. Among these, North America is likely to occupy a significant market share in the global ride-sharing market. The market in the U.S. leads in a highly consolidated way as to ride-hailing giants like Uber and Lyft together share a majority of market share. Considerable agreements between corporations and ride-sharing companies to reduce traffic congestion and control pollution from vehicle emissions have also been the foremost driving factors of the market in this region. The market is projected to observe the highest growth in the Asia Pacific region, over the anticipated period. The countries such as Japan, China, and South Korea are at the forefront of this growth in this region. The factors of air pollution and parking space problems have propelled the governments of these countries, especially China, to endorse the concept of ride-sharing and carpooling. The market is also expected to observe spectacular growth in India, which is characterized by an elevated concentration of middle-class population incapable of owning private vehicles. Market Players The high-flying players in the global Ride-Sharing Market listed as Gett (Israel), Lyft, Inc. (U.S.), Cabify (Spain), Didi Chuxing Technology Co. (China), Uber Technologies Inc. (U.S.), Careem (UAE), GrabTaxi Holdings Pte. Ltd. (Singapore), Taxify (Estonia), ANI Technologies Pvt. Ltd. (India), and car2go (Germany). Read More Blog: Autonomous Vehicle ECU Market Automotive parking sensors market Truck Rental Market Research Report – Global Forecast till 2024
Truck rental comprises leasing and hiring of light commercial vehicles or heavy commercial trucks. Truck rental mostly serve companies, agencies, and individuals, who do not have their own truck fleets but yet accept freight transportation as a service. The incessantly growing need for trucks from the industrial, construction, and logistics sectors coupled with the swift population expansion are some of the forces propelling the worldwide truck rental market. Truck rental curtails the amount of vehicular pollution by curbing the volumetric sales of owned automobiles as well as on road automobiles. Such forces are driving the development of the truck rental sector at a burgeoning pace. Furthermore, the fleet owners are increasingly working on cost cutting steps to offer cost effective fleet solutions. Therefore, to manage cost efficiently, the fleet owners are taking up the alternative of truck rental to substantially eliminate or curtail the transport costs. Renting or leasing a truck minimizes the operational risks caused by demand for seasonal transport and uncertainty of contracts, which is propelling the truck rental market, all over the globe. In addition to this, leasing a truck has become an effective and highly cost effective solution when compared to loan and truck acquiring. This arrangement offers the owner an alternative of mobility without having to pay the costs related to vehicle ownership. These are the aspects estimated to propel the worldwide truck rental market throughout the assessment period. Moreover, renting a truck with full-service lease removes the financial liability of servicing, vehicle replacement, and maintenance. This is accelerating the worldwide truck rental market throughout the assessment period. On the other hand, the lack of truck rental service providers in underdeveloped and developing markets are the aspects estimated to restrict the market development throughout the review period. Market Segmentation Market Research Future has conducted a comprehensive study on the segmentation of the global truck rental market. The report published through the study states that the worldwide truck rental market is categorised based on truck type, lease type, and region. On the basis of truck type, the worldwide market has been segregated into light commercial vehicle and heavy commercial truck. On the basis of lease rate, the worldwide market has been classified into full-service lease and finance lease. Regional Analysis Based on geography, the global truck rental market has been bifurcated into four key regions, which include Europe, North America, Asia-Pacific, and the Rest of the world. The truck rental market within North America represents the largest market share. This is due to the prevalence of rental truck provider firms, such as PACCAR Leasing Company, AMERCO, L.P., Penske Truck Leasing Co., Avis Budget Group Inc. and Ryder System, Inc. This in combination with the growing awareness and concern of eliminating emissions has majorly led to the surge in the car rental alternatives, as truck rental systems extensively curb the number of trucks on the road. Also, the scope of research and development in the North America market is high and the government in the region plays a significant role in aiding funds for carrying out the research and development activities. The market in Asia Pacific is estimated to witness exponential growth throughout the assessment period. The growth can be attributed to the Asia Pacific market’s rising population along with the increasing per capita income of the individual residing there. Read More: https://www.marketresearchfuture.com/sample_request/7825 Key Players The renowned players operating within the worldwide truck rental market include PACCAR Leasing Company (US), AMERCO (US), L.P. (US), Penske Truck Leasing Co., Sixt SE (Germany), Ryder System, Inc. (US), Almano (US), United Rentals, Inc. (US), Advantage Rent-a-car (US), Budget Car Rental (US), Avis Budget Group Inc. (US), Europcar (UK), and MAX Rental.lu AG (Luxembourg). Similar Blog: Automotive Electronic Brake System Market Autonomous Vehicle ECU Market |