Members of the Truck Renting and Leasing Association (TRALA) purchased 29% of all Class 2-7 commercial trucks in the U.S. and purchased more than 23% of all Class 8 tractors in 2016, according to a new industry survey released by TRALA. The overall percentage total of Class 2-8 over the road trucks and tractors was 27.6% in 2016, which is a significant increase compared to less than a decade ago.

"As the cost of purchasing and maintaining vehicles increases, and the need to access a company's capital becomes even more critical, TRALA members continue to answer the call of customers across the country by providing them the opportunity to rent or lease trucks," said TRALA President and CEO Jake Jacoby. "Rented and leased trucks -- with the latest in environmental and safety technologies -- allow small and large businesses the ability to expand and keep more money invested in their own companies and workers."

ACT Research conducted the industry-wide survey of all TRALA members and compiled the aggregate totals to illustrate the size and scope of the U.S. truck renting and leasing industry. These results demonstrate the importance and impact that the industry has in the U.S.

"Truck renting and leasing is a vital part of our economy and it clearly is expanding as an overall segment of the trucking industry. Particularly as small businesses try to grow, having the ability to focus on their core mission allows these businesses to thrive and it makes TRALA members' customers that much more productive," Jacoby said.