Construction Equipment Rental Market Report 2025

The construction equipment rental market size has grown strongly in recent years. It will grow from $105.1 billion in 2024 to $110.55 billion in 2025 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to increased demand for construction projects, growing need for cost optimization and efficiency in construction operations, increased competition among construction companies and equipment manufacturers, growing demand for rental equipment due toThe cyclical nature ofThe construction industry.

The construction equipment rental market size is expected to see strong growth in the next few years. It will grow to $137.69 billion in 2029 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to increasing adoption of rental equipment in various industries, growing demand for sustainable and eco-friendly construction equipment, growing preference for operational flexibility and scalability, financial flexibility and conservation of capital for businesses, increasing use of telematics and IoT in construction equipment rental. Major trends in the forecast period include advancements in technology and logistics infrastructure, collaborations between rental companies and construction technology providers, adoption of advanced rental software for fleet management, technological advancements in construction equipment, emergence of online platforms for equipment rental transactions.

The expanding construction industry is projected to drive the growth of the construction equipment rental market in the coming years. The construction sector is experiencing growth due to ongoing urbanization, upcoming infrastructure projects, and an increasing population. Various construction equipment, including tower cranes, bulk material handling systems, transit mixers, batching plants, and concrete pumps, are essential for this industry. Renting this equipment allows contractors to minimize purchase and maintenance costs. For example, in February 2024, Eurostat, a Luxembourg-based government agency, reported that the average annual building production in the EU and the euro region rose by 0.1% and 0.2%, respectively, compared to 2022. Additionally, data from the United States Census Bureau indicated that the value of construction activities increased from $1.62 trillion in 2021 to $1.79 trillion in 2022, representing a growth rate of 10.2%. Therefore, the thriving construction industry is a significant factor driving growth in the equipment rental market.

The growing urbanization is significantly contributing to the growth of construction equipment rental market going forward. Urbanization is the process of population concentration in cities, accompanied by the growth and expansion of urban areas. Rapid urbanization leads to increased construction of residential and commercial buildings, driving the need for construction equipment rental. For instance, in July 2023, according to the data released by United Nations Conference on Trade and Development (UNCTAD) the global urban population is projected to increase by 1. 5 times to 6 billion by 2045. Therefore, the growing urbanization will drive the construction equipment rental market.

Replacing conventional equipment with telematics-integrated machinery is a rising trend in the construction equipment market. Telematics is integrated into the construction equipment for GPS fleet tracking, maximizing fleet utilization, safeguarding equipment from theft, improving billing, equipment utilization, and others. For instance, in Februay 2022, Hitachi Construction Machinery a Japan-based manufacturer of construction equipment launched telematics system specifically designed for fleets of mixed construction equipment. By using a real-time web access, customers of the new CTFleet Link system may keep an eye on the location and functionality of their Hitachi and non-Hitachi equipment. Utilising a custom API created by Hitachi Construction Machinery in addition to the Hitachi Application Programming Interface (API) from Global E Service, the CTFleet Link telematics system enables data collecting in nearly real time.

Major companies operating in the construction equipment rental market are focusing on the online construction equipment rental solutions. Online construction equipment rental solutions provide a digital platform for businesses and individuals to easily access and rent a wide range of construction equipment, enhancing convenience and efficiency in the construction industry. For instance, in February 2022, Sonsray Machinery, a US-based case construction equipment dealer, partnered with Quipli, a US-based cloud-based rental solution that facilitates completely digital rental transactions, to introduce a mobile app and e-commerce platform for rentals. This new feature makes it easier for customers to rent equipment from Sonsray Machinery.

In October 2022, H&E Equipment Services, Inc., a US-based integrated equipment company that provides equipment rentals, sales, parts, and service, acquired One Source Equipment Rentals Inc. for an undisclosed amount. This acquisition will help H&E Equipment Services, Inc. expand its presence in Illinois, Indiana, and Kentucky by adding 10 equipment rental locations. One Source Equipment Rentals Inc. is a US-based supplier of construction and industrial equipment on rent.

Major companies operating in the construction equipment rental market include H&E Equipment Services Inc., Maxim Crane Works LLP, Boels Rentals NV, United Rentals Inc., Ashtead Group plc, Loxam Group, Herc Holdings Inc., Aktio Corporation, Kanamoto Co Ltd., Taiyokenki Rental Co. Ltd., Cramo Group, Ramirent PLC, Kiloutou SAS, Speedy Hire plc, Nishio Rent All Co. Ltd., The Hertz Corporation, Ahern Rentals Inc., Nikken Corporation, Sunstate Equipment Co. LLC, Neff Rental LLC, BlueLine Rental Holdings Inc., BigRentz Inc., Sunbelt Rentals Inc., The Home Depot Inc., Rentals ProContractor, Herc Rentals Inc., Aggreko plc, NES Rentals Holdings Inc., Romco Equipment Co. LLC, Mobile Mini Inc.

Construction equipment rental refers to the service of renting out small and large construction equipment required for the execution, completion, and maintenance of construction work. Renting construction equipment saves construction contractors the cost of new equipment, labour costs, maintenance costs, and operational costs.

The main construction rental equipment includes earthmoving, material handling, road building, and concrete. Earthmoving construction equipment moves soil and other material on heavy construction sites in preparation for constructing buildings. The different construction equipment rental products include backhoes, excavators, loaders, crawler dozers, cranes, concrete pumps, compactors, transit mixers, and concrete mixers, which are used in residential, commercial, and industrial applications.

The construction equipment rental market research report is one of a series of new reports that provides construction equipment rental market statistics, including global market size, regional shares, competitors with construction equipment rental shares, detailed construction equipment rental segments, market trends and opportunities, and any further data you may need to thrive in the construction equipment rental industry. This construction equipment rental research market report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

North America was the largest region in the construction equipment rental market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the construction equipment rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the construction equipment rental market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The construction equipment rental market consists of revenues earned by entities that rent out construction-related machinery, equipment, and tools to other contractors and professionals for a flat rate on a daily, weekly, or monthly basis. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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