London, United Kingdom (PRWEB) August 02, 2012
The Truck Renting & Leasing industry has been moderately affected by the downturn in the UK economy, with lower freight volumes and distances travelled compared with pre-2008. These factors have contributed to lower truck leasing and rental demand in some areas, but they have not affected industry revenue overall. According to IBISWorld industry analyst Alen Allday, This is due to companies that require trucks choosing to rent or lease them, rather than buy them, during the difficult economic period. Despite freight volumes falling in 2009-10 and the economy continuing to weaken, truck rental revenue increased strongly due to the maintenance of prices, and greater use of leased vehicles rather than trucks owned by distribution firms. Although freight volumes increased in 2010-11, industry revenue fell due to declining pricing levels as leasing firms looked to maintain market share. Freight volumes are estimated to increase in 2011-12 and 2012-13, contributing to revenue growth.
During 2012-13, industry revenue is forecast to increase by 3.5% to