Tool & Equipment Rental in the US - Industry Market Research Report

Equipped for anything: Construction activity will renew as economic uncertainty wanes

Companies in the tool and equipment rental industry rent out various tools, from contractor equipment to home repair and gardening tools. Construction markets have fluctuated during the period because of the pandemic. In 2020, residential construction increased significantly, while commercial construction suffered most of the year because of economic uncertainty. Overall, industry revenue dipped at a CAGR of 1.4% to $4.6 billion through 2023. Rising interest rates led to a slowdown in construction activity and borrowing, which caused a 0.8% decline in 2023 alone. This industry comprises companies that primarily rent tools and small- to medium-size pieces of equipment, including contractors’ and builders’ tools and equipment and home maintenance tools for a short period of time. Enterprises that primarily focus on other rentals such as trucks and trailers without drivers, party and banquet equipment and personal and household goods are all excluded from this industry. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.