Market Size and Growth in 2026
Although these figures are presented in USD, they reflect widely cited international market data that directly influences activity within the UK. The UK truck rental and leasing market is forecast to reach USD 12.83 billion by 2030, up from USD 8.5 billion in 2024, with annual growth projected at around 7.15 percent.
Heavy Goods Vehicle (HGV) rental remains a key driver, with the global truck rental market valued at USD 5.4 billion in 2025 and expected to exceed USD 14 billion by 2035. These international growth trends are closely mirrored in the UK, where rising demand for flexible fleet options across logistics, construction, and retail continues to push both short-term and long-term rental uptake.
Key Drivers of Growth
- Rapid e-commerce expansion is fuelling last-mile and urban delivery needs.
- Businesses seeking to minimise upfront capital outlay and vehicle ownership risks.
- Compliance with stricter emissions and urban access regulations.
- Greater flexibility in scaling fleets for seasonal or project spikes.
HGV Hire Trends
Shifting Demand Among Fleets
Operators are increasingly choosing rental solutions for HGVs (Heavy Goods Vehicles) to stay agile and control operational costs. There is robust demand for vehicles ranging from small vans and panel vans to 32-ton tipper grabs, tankers, and refrigerated units. Contract hire and fleet rental are being favoured to mitigate risks, with many companies opting for newer low-emission or electric models.Sustainability and Technology
There is now mainstream technological integration, including real-time vehicle-tracking systems and streamlined fleet management systems. Providers are extending services to have greener vehicles and assist in compliance reporting. Electric HGV investments are being motivated by sustainability goals, and city low-emission zones are forcing fleets to modernise at a fast pace.- Adoption of electric trucks and alternative fuels is accelerating.
- Enhanced fleet monitoring supports emissions and safety management.
- Digital platforms streamline booking and fleet logistics.
Vehicle Variety and Service Flexibility
Rental providers now offer a wide array of commercial vehicles:- Small vans for last-mile deliveries.
- Panel vans, Luton’s, curtainsiders, and dropsides for versatile applications.
- HGV units such as 4×2, 6×2, 6×4 tractors, box vans, refrigerated trucks, skiploaders, and tankers for specialist needs.
- These packages are supported by contract hire, short-term rental, fleet management, and even vehicle sale options for businesses aiming to optimise spend and manage fleet risks.
Rental Statistics UK
Fleet Size and Utilisation
Fleet leasing and rental volumes are growing year-on-year, with business customers replacing vehicles more often to take advantage of new models, tech, and sustainability improvements.- The number of truck rental and leasing businesses in the UK has been rising at an average of 1.8% per year.
- Van numbers softened slightly in some quarters, but HGV hire remained strong on account of replacement cycles and booming e-commerce.
Regional and Sector Variation
- England remains the largest market for truck rental in 2026, with urban areas and logistics hubs presenting the highest rental turnover.
- Sectors like construction, pharmaceuticals (for refrigerated fleets), and waste management (tipper grabs, hookloaders) are increasing rental uptake for their specialist needs.
Effect of Regulation and Compliance
Beginning in January 2026, the UK accounting standards (UK GAAP) will force a significant shift, in which all vehicles in a contract hire and rental fleet will need to be included in company balance sheets as both assets and liabilities, changing the nature of company rental cost management and reporting. This will influence business-wide budgeting, financial statements, and strategic fleet decision-making of businesses availing of long-term vehicle rental solutions.HGV Driver Unavailability in Rental Trends.
Ongoing shortages of drivers, which are expected to be severe by the year 2029, are increasing the wage rate and the tendency to utilise rental-fleet service as companies fail to recruit and train qualified drivers. The pressure on logistics firms, especially for long-distance haulage and local delivery, is sustaining strong demand for rental vehicles.Future Outlook
The future of UK truck rental will centre on flexibility, sustainability, and technology:- Providers will continually refresh rental fleets to offer the latest electric, hybrid, and ultra-low-emission vehicles.
- Rental agencies that offer comprehensive packages—contract hire, short-term rental, and fleet solutions—are best placed to meet the varying needs of UK firms.
- Rising e-commerce and just-in-time logistics models will sustain demand for adaptable, scalable fleets.
- Regulatory and accounting changes will make transparency and asset tracking crucial for all firms operating in the UK market.
How Thomas’s Group Addresses 2026 Market Needs
Thomas’s Group exemplifies these trends by offering a full spectrum of contract hire, rental, fleet, and sale solutions for vehicles ranging from small vans and minibuses to 32-ton HGV tipper grabs, refrigerated trucks, and tankers. With every vehicle under three years old, flexible rental terms, and professional support, we enable clients to respond rapidly to shifting logistics challenges.
Innovation, regulatory change and the current requirements of the established and new logistics market make the UK truck-rental market in 2026 a prosperous one. Businesses looking to rent trucks or manage fleets should prioritise flexibility, sustainability, and compliance to remain competitive.
