Tools commonly used in the Truck Renting & Leasing industry for day-to-day tasks and operations.

• GPS tracking systems
• Fleet management software
• Electronic logging devices
• Tire pressure monitoring systems
• Fuel management systems
• Diagnostic tools
• Brake testers
• Lift gates
• Cargo straps and tie-downs
• Load securement equipment

Common products and services typical of NAICS Code 532120-16, illustrating the main business activities and contributions to the market.

• Commercial truck rental
• Moving truck rental
• Refrigerated truck rental
• Dump truck rental
• Flatbed truck rental
• Box truck rental
• Trailer rental
• RV rental
• Construction equipment rental
• Waste management truck rental

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Commercial Driver's License (CDL): A CDL is required to operate a commercial vehicle, including trucks and buses. The Federal Motor Carrier Safety Administration (FMCSA) provides information on obtaining a CDL, including requirements and testing procedures.
• Hazardous Materials Endorsement (HME): This endorsement is required for drivers who transport hazardous materials. The Transportation Security Administration (TSA) provides information on obtaining an HME, including background checks and testing.
• Unified Carrier Registration (UCR): This registration is required for motor carriers operating in interstate commerce. The UCR program is administered by the Federal Motor Carrier Safety Administration (FMCSA).
• International Fuel Tax Agreement (IFTA) License: This license is required for motor carriers operating in multiple jurisdictions to report and pay fuel taxes. The International Fuel Tax Association (IFTA) provides information on obtaining an IFTA license.
• Electronic Logging Device (ELD) Certification: ELDs are required for motor carriers to record hours of service. The Federal Motor Carrier Safety Administration (FMCSA) provides information on certified ELDs.

A concise historical narrative of NAICS Code 532120-16 covering global milestones and recent developments within the United States.

• The "Truck Renting & Leasing" industry has a long history dating back to the early 20th century when the first truck rental companies were established in the United States. During the 1920s and 1930s, the industry experienced significant growth due to the increasing demand for commercial transportation. In the 1950s and 1960s, the industry expanded its services to include leasing, which allowed businesses to rent trucks for longer periods. In the 1970s, the industry faced challenges due to the oil crisis, which led to a decline in demand for truck rentals. However, the industry recovered in the 1980s and 1990s due to the growth of the logistics industry and the increasing demand for transportation services. In recent years, the industry has continued to grow due to the increasing demand for e-commerce and the need for efficient transportation services. In the United States, the "Truck Renting & Leasing" industry has experienced significant growth in recent years. According to the American Trucking Associations, the industry generated $38.5 billion in revenue in 2019, up from $36.5 billion in 2018. The growth of the industry can be attributed to several factors, including the increasing demand for e-commerce, the growth of the logistics industry, and the need for efficient transportation services. In addition, the industry has benefited from technological advancements, such as the use of telematics and GPS tracking systems, which have improved the efficiency and safety of truck rentals and leasing. Overall, the "Truck Renting & Leasing" industry has a rich history and continues to play a vital role in the transportation sector.

The anticipated future trajectory of the NAICS 532120-16 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Growing

  The future outlook for the Truck Renting & Leasing industry in the USA is positive. The industry is expected to grow in the coming years due to the increasing demand for truck rentals and leasing services. The growth of the e-commerce industry and the need for efficient logistics and transportation services are expected to drive the demand for truck rentals and leasing. Additionally, the increasing construction activities and the need for heavy-duty trucks for transportation of construction materials are also expected to contribute to the growth of the industry. However, the industry may face challenges such as rising fuel prices, increasing competition, and regulatory changes. Overall, the industry is expected to grow at a steady pace in the coming years.

Recent groundbreaking advancements and milestones in the Truck Renting & Leasing industry, reflecting notable innovations that have reshaped its landscape.

• Digitalization Of Rental Services: Many truck rental companies in the USA are adopting digital technologies to streamline their rental services. They are offering online booking, payment, and tracking services to their customers, which is making the rental process more convenient and efficient.
• Eco-Friendly Trucks: Some truck rental companies in the USA are introducing eco-friendly trucks in their fleets. These trucks are equipped with advanced technologies that reduce emissions and fuel consumption, making them more environmentally friendly and cost-effective.
• Telematics: Many truck rental companies in the USA are using telematics to monitor their trucks' performance and location. This technology helps them optimize their fleet management, reduce maintenance costs, and improve customer service.
• Autonomous Trucks: Some truck rental companies in the USA are exploring the use of autonomous trucks in their fleets. These trucks can operate without a driver, which can reduce labor costs and improve efficiency.
• Partnership with Logistics Companies: Many truck rental companies in the USA are partnering with logistics companies to offer integrated logistics and transportation services. This partnership helps them expand their customer base and offer more comprehensive services to their clients.