The global construction equipment rental market size is expected to reach USD 280.13 billion by 2030, registering a CAGR of 6.12% during the forecast period. Increasing government spending on infrastructure projects and rising Foreign Direct Investment (FDI) in the building sector for skyscrapers, motorways, bridges, and smart cities is driving the growth. The market for renting construction equipment is expanding as a result of ongoing technological advancements that result in modern construction tools that focus on projects and streamline the entire construction process. Small and medium-sized construction enterprises and contractors are encouraged to use rental construction equipment due to the higher total cost of ownership of modern construction equipment and machines. Additionally, construction equipment leasing offers a cost-effective substitute for purchasing for construction companies since it lowers the costs of ownership such as maintenance, repair, insurance, and storage.
The pandemic led to a global lockdown and disrupted the supply chain, which had a significant impact on the industrial, building, and mining industries. Following the pandemic, problems with the supply of skilled labor, rising raw material prices, and high EMIs have exacerbated uncertainty in the construction business, slowing expansion. The market for construction rental equipment is expanding as a result of larger construction enterprises migrating to renting equipment in order to prevent risk aversion and lessen uncertainty.
Asia Pacific is expected to witness a high pace of growth during the forecast period. The major participants in the Chinese construction equipment rental market are concentrating on creating cutting-edge machinery that uses less fuel, produces more, and minimizes machine downtime, driving the growth of the construction equipment rental market. Additionally, the Indian government is making significant investments in expansive infrastructure projects to strengthen the nation's economy; as a result, these factors are anticipated to support the expansion of the construction equipment market in the area.
Construction Equipment Rental Market Report Highlights
- The global construction equipment rental market was valued at USD 187.46 billion in 2022 and is expected to exhibit a CAGR of 6.12% from 2023 to 2030.
- The earthmoving machinery segment dominated the market in 2022 and is expected to generate a market revenue of over USD 104.53 billion by the end of the forecast period.
- The increasing application of earthmoving excavators for mining, agriculture, and construction industries significantly contributes to segmental growth.
- Asia Pacific is expected to witness significant growth in the construction equipment rental market by 2030, owing to government’s investment in the development of the highway, airports, dams, and special economic zones(SEZs).
- The construction equipment rental market is witnessing high competition across the globe. Major players are inclining towards enhancing the business and product offering through strategic business acquisition.
- For instance, in April 2021, United Rental Inc., a global equipment rental company announced the acquisition of General Finance Corporation, a specialty rental service company. United Rental Inc. acquired complete assets of General Finance Corporation which helped the company to enhance its product portfolio.
Table of Contents
Chapter 1. Methodology and Scope1.1. Methodology Segmentation & Scope
1.2. Information Procurement
1.2.1. Purchased database
1.2.2. internal database
1.2.3. Secondary sources & third-party perspectives
1.2.4. Primary research
1.3. Information Analysis
1.3.1. Data analysis models
1.4. Market Formulation & Data Visualization
1.5. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Construction Equipment Rental Market - Industry Snapshot, 2018 - 2030
Chapter 3. Construction Equipment Rental Market Variables, Trends & Scope
3.1. Market Size and Growth Prospects, 2018 - 2030
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint/Challenge Analysis
3.3.3. Market Opportunity Analysis
3.4. Penetration & Growth Prospect Mapping (Key Opportunities Prioritized)
3.5. Business Environment Analysis Tools
3.5.1. Industry Analysis - Porter's Five Forces Analysis
3.5.2. PEST Analysis
3.5.3. COVID-19 Impact Analysis
Chapter 4. Construction Equipment Rental Market Product Outlook
4.1. Construction Equipment Rental Market Share by Product, 2022 & 2030 (USD Billion)
4.2. Earth Moving Machinery
4.2.1. Market size estimates and forecasts, 2018 - 2030 (USD Billion)
4.2.2. Market estimates and forecast by region, 2018 - 2030 (USD Billion)
4.3. Material Handling Machinery
4.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
4.3.2. Market estimates and forecast by region, 2018 - 2030 (USD Billion)
4.4. Concrete and Road Construction Machinery
4.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
4.4.2. Market estimates and forecast by region, 2018 - 2030 (USD Billion)
Chapter 5. Construction Equipment Rental Market: Regional Outlook
5.1. Construction Equipment Rental Market Share by Region, 2022 & 2030 (USD Billion)
5.2. North America
5.2.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.2.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.2.3. U.S.
5.2.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.2.3.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.2.4. Canada
5.2.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.2.4.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.3. Europe
5.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.3.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.3.3. U.K.
5.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.3.3.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.3.4. Germany
5.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.3.4.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.3.5. France
5.3.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.3.5.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.3.6. Italy
5.3.6.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.3.6.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.3.7. Spain
5.3.7.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.3.7.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.3.8. Russia
5.3.8.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.3.8.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.3.9. Rest of Europe
5.3.9.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.3.9.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.4. Asia Pacific
5.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.4.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.4.3. China
5.4.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.4.3.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.4.4. India
5.4.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.4.4.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.4.5. Japan
5.4.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.4.5.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.4.6. Rest of Asia Pacific
5.4.6.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.4.6.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.5. Latin America
5.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.5.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.5.3. Brazil
5.5.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.5.3.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.5.4. Mexico
5.5.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.5.4.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.5.5. Rest of Latin America
5.5.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.5.5.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.6. Middle East & Africa
5.6.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.6.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.6.3 South Africa
5.5.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.5.3.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.6.4 Algeria
5.6.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.6.4.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.6.5 Saudi
5.6.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.6.5.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.6.6 Kenya
5.6.6.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.6.6.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
5.6.7 Rest of Middle East and Africa
5.6.7.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.6.7.2. Market estimates and forecast by product, 2018 - 2030 (USD Billion)
Chapter 6. Competitive Landscape
6.1. Caterpillar
6.1.1. Company overview
6.1.2. Financial performance
6.1.3. Product benchmarking
6.1.4. Recent developments
6.2. CNH Industrial N.V.
6.2.1. Company overview
6.2.2. Financial performance
6.2.3. Product benchmarking
6.2.4. Recent developments
6.3. Doosan Corporation
6.3.1. Company overview
6.3.2. Financial performance
6.3.3. Product benchmarking
6.3.4. Recent developments
6.4. Escorts Limited
6.4.1. Company overview
6.4.2. Financial performance
6.4.3. Product benchmarking
6.4.4. Recent developments
6.5. Hitachi Construction Machinery Co., Ltd.
6.5.1. Company overview
6.5.2. Financial performance
6.5.3. Product benchmarking
6.5.4. Recent developments
6.6. Hyundai Construction Equipment Co., Ltd.
6.6.1. Company overview
6.6.2. Financial performance
6.6.3. Product benchmarking
6.6.4. Recent developments
6.7. J C Bamford Excavators Ltd.
6.7.1. Company overview
6.7.2. Financial performance
6.7.3. Product benchmarking
6.7.4. Recent developments
6.8. Deere & Company.
6.8.1. Company overview
6.8.2. Financial performance
6.8.3. Product benchmarking
6.8.4. Recent developments
6.9. Kobelco Construction Machinery Co., Ltd.
6.9.1. Company overview
6.9.2. Financial performance
6.9.3. Product benchmarking
6.9.4. Recent developments
6.10. Komatsu Ltd.
6.10.1. Company overview
6.10.2. Financial performance
6.10.3. Product benchmarking
6.10.4. Recent developments
6.11. Liebherr-International AG
6.11.1. Company overview
6.11.2. Financial performance
6.11.3. Product benchmarking
6.11.4. Recent developments
6.12. Manitou BF
6.12.1. Company overview
6.12.2. Financial performance
6.12.3. Product benchmarking
6.12.4. Recent developments
6.13. HÄ°DROMEK
6.13.1. Company overview
6.13.2. Financial performance
6.13.3. Product benchmarking
6.13.4. Recent developments
6.14. Sany Heavy Industry Co., Ltd.
6.14.1. Company overview
6.14.2. Financial performance
6.14.3. Product benchmarking
6.14.4. Recent developments
6.15. Sumitomo Heavy Industries, Ltd.
6.15.1. Company overview
6.15.2. Financial performance
6.15.3. Product benchmarking
6.15.4. Recent developments
6.16. Terex Corporation
6.16.1. Company overview
6.16.2. Financial performance
6.16.3. Product benchmarking
6.16.4. Recent developments
6.17. Volvo AB
6.17.1. Company overview
6.17.2. Financial performance
6.17.3. Product benchmarking
6.17.4. Recent developments
6.18. Zoomlion Heavy Industry Science and Technology Co., Ltd.
6.18.1. Company overview
6.18.2. Financial performance
6.18.3. Product benchmarking
6.18.4. Recent developments
List of Tables
Table 1 List of Abbreviations
Table 2 Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 3 Construction Equipment Rental market, by region, 2018 - 2030 (USD Billion)
Table 4 Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 5 Earth Moving Machinery Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 6 Earth Moving Machinery Construction Equipment Rental market, by region, 2018 - 2030 (USD Billion)
Table 7 Material Handling Machinery Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 8 Material Handling Machinery Construction Equipment Rental market, by region, 2018 - 2030 (USD Billion)
Table 9 Concrete and Road Construction Machinery Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 10 Concrete and Road Construction Machinery Construction Equipment Rental market, by region, 2018 - 2030 (USD Billion)
Table 11 North America Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 12 North America Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 13 U.S. Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 14 U.S. Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 15 Canada Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 16 Canada Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 17 Europe Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 18 Europe Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 19 U.K. Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 20 U.K. Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 21 Germany Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 22 Germany Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 23 France Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 24 France Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 25 Italy Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 26 Italy Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 27 Spain Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 28 Spain Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 29 Russia Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 30 Russia Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 31 Rest of Europe Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 32 Rest of Europe Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 33 Asia Pacific Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 34 Asia Pacific Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 35 China Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 36 China Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 37 India Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 38 India Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 39 Japan Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 40 Japan Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 41 Rest of Asia Pacific Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 42 Rest of Asia Pacific Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 43 Latin America Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 44 Latin America Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 45 Brazil Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 46 Brazil Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 47 Mexico Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 48 Mexico Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 49 Rest of Latin America Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 50 Rest of Latin America Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 51 MEA Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 52 MEA Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 53 South Africa Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 54 South Africa Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 55 Algeria Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 56 Algeria Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 57 Saudi Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 58 Saudi Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 59 Kenya Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 60 Kenya Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
Table 61 Rest of MEA Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Table 62 Rest of MEA Construction Equipment Rental market, by product, 2018 - 2030 (USD Billion)
List of Figures
Fig. 1 Construction Equipment Rental market, 2022 (USD Billion)
Fig. 2 Construction Equipment Rental market segment
Fig. 3 Construction Equipment Rental market, 2018 - 2030 (USD Billion)
Fig. 4 Value chain analysis
Fig. 5 Construction Equipment Rental market driver impact
Fig. 6 Construction Equipment Rental market challenge impact
Fig. 7 Construction Equipment penetration & growth prospects mapping
Fig. 8 Construction Equipment Rental market - Porter’s analysis
Fig. 9 Construction Equipment Rental market - PEST analysis
Fig. 10 Construction Equipment Rental market, by product, 2022 & 2030 (USD Billion)
Fig. 11 Construction Equipment Rental market, by region, 2022 & 2030
Fig. 12 North America Construction Equipment Rental market - Key takeaways
Fig. 13 Europe Construction Equipment Rental market - Key takeaways
Fig. 14 Asia Pacific Construction Equipment Rental market - Key takeaways
Fig. 15 Latin America Construction Equipment Rental market - Key takeaways
Fig. 16 MEA Construction Equipment Rental market - Key takeaways
Companies Mentioned
- Caterpillar
- CNH Industrial N.V.
- Doosan Corporation
- Escorts Limited
- Hitachi Construction Machinery Co., Ltd.
- Hyundai Construction Equipment Co., Ltd.
- J C Bamford Excavators Ltd.
- Deere & Company.
- Kobelco Construction Machinery Co., Ltd.
- Komatsu Ltd.
- Liebherr-International AG
- Manitou BF
- HÄ°DROMEK
- Sany Heavy Industry Co., Ltd.
- Sumitomo Heavy Industries, Ltd.
- Terex Corporation
- Volvo AB
- Zoomlion Heavy Industry Science and Technology Co., Ltd.
Methodology
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