USD 187.46 Billion
Construction Equipment Rental Market Size, Share, and Growth Analysis
Construction Equipment Rental Market By Equipment Type (Earthmoving Equipment, Material Handling Equipment), By Application, By Propulsion Type, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG20C2067 |
Region:
Global |
Published Date: December, 2024
Pages:
157
|Tables:
64
|Figures:
75
Format -
Construction Equipment Rental Market Insights
Construction Equipment Rental Market size was valued at USD 187.46 Billion in 2023 and is poised to grow from USD 199.08 Billion in 2024 to USD 320.19 Billion by 2032, growing at a CAGR of 6.2% during the forecast period (2025-2032).
There are many merits to renting construction equipment, primarily because of the boom-and-bust pattern of the construction industry and state of the economy. Many building companies, builders, and areas are turning toward rental options nowadays in the light of increasing instability in the economy and recession predictions. According to BigRentz, most contractors and builders are now taking to rental models than buying equipment in a straight up-and-down format. This reflects the emergent need for flexible, competitively priced solutions responding to market dynamics and changes within economic environments.
Construction companies are gradually becoming stingy in their spending given the rising apprehensions about controlling costs, completing projects on schedule, and unstable economic conditions. The need for maximizing the useful life of a purchase of equipment by avoiding long-term obligations is adding to the trend of equipment leasing. Construction equipment rental is economically sound because a business can steer clear of cash outlays during initial capital acquisitions, maintenance expenses, and the burden of equipment losing its value. In addition, its popularity has increased because of the opportunity to rent specialist equipment for short-term projects without the burden of long-term ownership. Companies are employing rental schemes to minimize financial risks, maximize operational flexibility, and efficiently utilize resources, which is driving the global construction equipment rental market growth. If economic instability persists, rental services are expected to continue to grow as the preferred choice for construction companies across the globe.
US Construction Equipment Rental Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Commercial
Fastest Growth
Industrial
Growth Rate
6.2% CAGR
Global Construction Equipment Rental Market ($ Bn)
Country Share for Asia-Pacific (%)
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Construction Equipment Rental Market Segments Analysis
Global Construction Equipment Rental Market is segmented by equipment type, application, propulsion type and region. Based on equipment type, the market is segmented into earthmoving equipment (excavators, loaders, bulldozers, backhoes), material handling equipment (cranes, forklifts, telehandlers), concrete & road construction equipment (concrete mixers, pavers, road rollers) and others (compactors, aerial work platforms). Based on application, the market is segmented into residential, commercial, and industrial. Based on propulsion type, the market is segmented into diesel, electric and hybrid. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Equipment Type
Based on the 2024 global construction equipment rental market forecast, the market is predicted to be dominated by earthmoving equipment, which encompasses categories such as trenchers, wheel loaders, bulldozers, and excavators. The major reason for this increase in demand is the persistent infrastructure building project, including the construction of roads, bridges, and sky-scraping high-rise buildings. Such large projects will only be fully accomplished if earthmoving equipment is used to level building sites, move large volumes of material, and clear the land. The demand for earthmoving machinery is only increasing with the acceleration of the world's infrastructure demands and urbanization. For the meeting of such a demand, the manufacturers develop more technologically advanced and efficient equipment to match the changing needs of the construction industry.
The concrete & road equipment segment is predicted to experience massive growth over the forecast period. As people have nowadays become more concerned with building quality infrastructure, road connections are now considered to be an important factor in boosting the economic development of a nation. Investments by public and private organizations in constructing and modernizing road networks are expected to increase the demand for pavers, road rollers, and concrete mixers. These equipment options are necessary to provide long-lasting, smooth roadways that facilitate trade and transit. In the coming years, demand for concrete and road equipment will be driven by the expansion of commercial activity and an emphasis on enhancing national infrastructure.
Analysis By Application
As per the 2024 global construction equipment rental market analysis, the growing need for construction machinery is expected to push the commercial segment's exponential growth over the course of the forecast period. With the construction of more commercial buildings, equipment manufacturers continue to find new ways to increase their sales through products and leasing services. Plans for government infrastructure, particularly in developing countries, will also help the market for hiring heavy equipment expand. Steady and growing demand for rental equipment is experienced because of the integration of rental services into the infrastructure development plans of many governments to save upfront expenditures. The commercial segment is emerging as a major driver of market growth due to this trend and the increase of commercial real estate projects.
Due to increased investments and rapid industrialization in major economies, the industrial category is expected to be on the rise significantly. The requirement for construction equipment is being backed by continuous multi-family dwelling building as it has come under the widening tendency of the nuclear family. Going forward, investment in infrastructure projects such as roads, bridges, subways, and smart cities will witness the market for renting heavy equipment grow due to increased population with urbanization leading to the demand for upgraded infrastructure. It is also expected that the increasing trend of automation in construction processes would accelerate the use of advanced construction equipment, thereby fueling the growth of the industrial industry.
Global Construction Equipment Rental Market By Application
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Construction Equipment Rental Market Regional Insights
Asia-Pacific dominated the construction equipment rental industry in 2024. This is attributed to the significant growth in building and infrastructure development, since governments put a focus on the infrastructure for the expanding economy. To accommodate the high level of industrial activity, rising energy consumption, and improved connectivity, the region has witnessed a marked increase in the number of Special Economic Zones (SEZs), hydropower projects, dams, and the building of highways, subways, and airports. To meet the growing demand and capitalize on the regional market, many foreign companies have started investing in the region and setting up manufacturing and distribution facilities.
The North American construction equipment rental market share is expected to grow considerably over the next few years, ranking second only to Asia Pacific. The market is growing due to the substantial presence of leading international manufacturers. It has also been observed that, in the current economic scenario, North American building companies are less predicted to invest in new machineries. Therefore, during the forecast period, the market offers many opportunities to grow. All these factors have been driving North America's expansion potential and maintain its market share growth globally.
Global Construction Equipment Rental Market By Geography
- Largest
- Fastest
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Construction Equipment Rental Market Dynamics
Construction Equipment Rental Market Drivers
Growing Development of Infrastructure
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The global construction equipment rental market is affected the most by global emphasis in developing infrastructural facilities of other countries; these are predominantly from emerging countries. Governments across the globe spend a lot to fund smart cities, bridges, and roads which have a large need for dedicated construction equipment. There is thus much scope to make the expansion process continue unabated in terms of the growth in the market.
Affordability and Versatility of Rentals
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Due to the operational flexibility and cost savings, many construction firms opt to rent equipment instead of purchasing. Through renting, businesses can get hold of the latest equipment without the full initial investments, current maintenance costs, or depreciation problems. The flexibility to hire equipment on demand and this financial advantage make rental services an attractive option that drives industry growth.
Construction Equipment Rental Market Restraints
High Operating Costs of Rental Services
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Although renting affords more financial flexibility, for some businesses, the high costs of renting heavy construction equipment are too much to bear. Frequent hiring may amount to heavy costs at the end of the day and, in many cases, become a disadvantage as compared to purchasing equipment. This factor may make it harder for some companies to settle on rentals, especially for extended projects.
Limited Access to Specialty Equipment
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Some places might have restricted access to specialized equipment needed for specific building work. While the rental businesses do offer a vast range of machines, the availability of certain specialized or in-demand equipment may be scarce, causing inefficiencies and delays. This equipment shortage could also limit the growth of the rental sector in some places.
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Construction Equipment Rental Market Competitive Landscape
A few major firms in the global construction equipment rental market define the competitive landscape, providing a wide range of equipment and services. The lead firms focus on expanding their rental fleets, the integration of high technologies, and providing customized solutions for meeting the various demands of the industrial and construction industries. Companies often form strategic alliances, mergers, and acquisitions in an attempt to expand their market share and improve their service offerings, mainly in developing nations.
Top Players in Construction Equipment Rental Market
- United Rentals, Inc.
- Ashtead Group plc
- Loxam Group
- Herc Holdings Inc.
- Aktio Corporation
- Nishio Rent All Co., Ltd.
- Kanamoto Co., Ltd.
- H&E Equipment Services, Inc.
- Ahern Rentals, Inc.
- Ramirent
- Speedy Hire plc
- Sunstate Equipment Co., LLC
- Maxim Crane Works, L.P.
- Nesco Holdings, Inc.
- Boels Rental
- Cramo Group
- Mateco GmbH
- Kiloutou
- Riwal
- Al Faris Equipment Rentals
Construction Equipment Rental Market Recent Developments
- In June 2023, H&E Equipment Services Inc. (H&E) launched its new branch in Houston South, Texas, thus establishing its 22nd rental site in the state of Texas. H&E caters to a variety of construction and general industrial equipment needs.
- In April 2023, Boels Rental extended its rental business in the Nordic region through its acquisition of Norwegian firm BAS Maskinutleie, which in turn led to the establishment of its Nordic subsidiary Cramo.
- In December 2022, United Mobility Technology AG (UMT), a German technology company, launched Smart Rental. This is an online rental marketplace that can be accessed through a smartphone application. Customers may use the 'Car-2-Go' idea to hire construction equipment like loaders, vibratory plates, and excavators through this platform that offers contactless transactions, 24/7 availability, and proximity to their sites.
Construction Equipment Rental Key Market Trends
- Adoption of Technology in Equipment Rentals: A growing trend is the infusion of technology, including IoT and AI, into the leasing of construction equipment. These innovations boost productivity and reduce downtime through real-time monitoring, predictive maintenance, and better fleet management. In addition, technology is streamlining the rental process and making it possible to remotely manage equipment for businesses, making the rental industry more appealing.
- Rise of Sustainable and Green Equipment: Environmental issues are driving the construction industry towards greener choices, including electric and hybrid construction equipment. The rental companies have come forward to cater to the requirements of businesses who want to reduce their carbon footprint. Both increasing consumer demand for environmentally friendly practices and regulatory pressures are expected to drive the growth of the trend toward sustainable building equipment.
Construction Equipment Rental Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global construction equipment rental market outlook is anticipated to change immensely due to the factors such as growing infrastructure development, affordable rental models, and a growing need for adaptable and effective construction solutions. The market is growing rapidly since governments are getting involved in big projects and the pace of urbanization is fastening. Improved operations and customer experiences in the rental industry are what the trend toward implementing cutting-edge technologies, such as IoT and AI, is enhancing. Moreover, the future for the market itself is being fashioned by the push toward environmentally friendly and sustainable technology. Given the resilience of the industry and the shifting trends notwithstanding issues like the high operating costs and equipment availability, a great future of the market is assured for the years ahead.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 187.46 Billion |
| Market size value in 2032 | USD 320.19 Billion |
| Growth Rate | 6.2% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Construction Equipment Rental Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Construction Equipment Rental Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Construction Equipment Rental Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Construction Equipment Rental Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Construction Equipment Rental Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Construction Equipment Rental Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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