Industrial Equipment Rental & Leasing in the US - Market Research Report

Temporary stay: Contractors will benefit from accelerating nonresidential construction activity

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.

Industrial equipment rental and leasing companies offer a range of products, including industrial machinery, certain construction equipment, entertainment products and medical devices, for fixed-term use. The variety of products rented or leased mitigates economic fluctuations from affecting demand from any one market. Expanding industrial production, coupled with increased construction activity, bolstered industry performance. However, the onset of COVID-19 and subsequently declining downstream demand had decelerated industry growth. Industrial equipment rental and leasing contractors have since recovered as customers have expressed renewed demand; despite this, revenue has decreased at a CAGR of 1.1% over the past five years, but will likely increase 1.2% to total $38.9 billion in 2023. This industry includes enterprises that primarily rent or lease nonconsumer machinery and equipment (except heavy construction, transportation, mining and forestry machinery and office equipment).