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Truck Rental in Canada Industry Data and Analysis
The Canadian Truck Rental industry is currently experiencing growth, propelled by expansive infrastructure investment and the burgeoning e-commerce sector. Government initiatives, such as the Investing in Canada Plan and provincial infrastructure projects, have caused a surge in the transportation of construction materials and heavy equipment, driving demand for truck rentals. Particularly in sectors such as the Toronto transit expansion and Alberta's energy sector, demand for both heavy-duty and specialized vehicles is high. Concurrently, the e-commerce sector's expansion has led to a gain in demand for last-mile logistics, with retailers and logistics companies opting for flexible, short-term truck rentals to cope with fluctuating needs. Industry revenue has gained at a CAGR of 3.0% to reach $3.7 billion in 2025, including a 0.9% expansion in 2025 alone.
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What's included in this industry analysis
IBISWorld's research coverage on the Truck Rental industry in Canada includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released September 2025.
About this industry
What's this industry report about?
The Truck Rental industry in Canada operates under the NAICS industry code 53212CA. This industry primarily rents or leases trucks, truck tractors, utility trailers, semitrailers, recreational vehicles (RVs) and buses without drivers. Vehicle retailing activity is excluded from this industry. Companies that rent or lease industrial trucks and equipment, such as forklifts, are covered in the Industrial Equipment Rental and Leasing industry in Canada (IBISWorld report 53249CA). Related terms covered in the Truck Rental industry in Canada include housing starts, trailer and emissions.
What's included in this industry?
Products and services covered in Truck Rental industry in Canada include Truck rentals and leases, Tractor rentals and leases and Trailer rentals and leases.
What companies are included in this industry?
Companies covered in the Truck Rental industry in Canada include Ryder System.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Truck Rental industry in Canada.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Truck Rental industry in Canada.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Truck Rental industry in Canada.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Truck Rental industry in Canada. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Truck Rental industry in Canada. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Truck Rental industry in Canada. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Truck Rental industry in Canada. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Truck Rental industry in Canada.
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Frequently Asked Questions
What is the market size of the Truck Rental industry in Canada in 2026?
The market size of the Truck Rental industry in Canada is $3.7bn in 2026.
How many businesses are there in the Truck Rental industry in Canada in 2025?
There are 1,405 businesses in the Truck Rental industry in Canada, which has declined at a CAGR of 1.4 % between 2020 and 2025.
How may import tariffs affect the Truck Rental industry in Canada?
The Truck Rental industry in Canada is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Truck Rental industry in Canada?
The Truck Rental industry in Canada is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Truck Rental industry in Canada grown or declined over the past 5 years?
The market size of the Truck Rental industry in Canada has been growing at a CAGR of 3.0 % between 2020 and 2025.
What is the forecast growth of the Truck Rental industry in Canada over the next 5 years?
Over the next five years, the Truck Rental industry in Canada is expected to grow.
What are the biggest companies in the Truck Rental industry in Canada?
The biggest company operating in the Truck Rental industry in Canada is Ryder System
What does the Truck Rental industry in Canada include?
Truck rentals and leases and Tractor rentals and leases are part of the Truck Rental industry in Canada.
Which companies have the highest market share in the Truck Rental industry in Canada?
The company holding the most market share in the Truck Rental industry in Canada is Ryder System.
How competitive is the Truck Rental industry in Canada?
The level of competition is high and steady in the Truck Rental industry in Canada.
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