Heavy Construction Machinery Rental Market Report 2025

The heavy construction machinery rental market size has grown strongly in recent years. It will grow from $62.48 billion in 2024 to $67.33 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to construction and infrastructure projects, cost-efficiency and flexibility, short-term project needs, maintenance and upkeep costs, market volatility and economic conditions.

The heavy construction machinery rental market size is expected to see strong growth in the next few years. It will grow to $89.04 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to infrastructure investments, sustainability and green initiatives, technological integration in machinery, market flexibility and adaptability, global construction trends. Major trends in the forecast period include maintenance and service packages, collaboration with construction technology providers, rental fleet management optimization, safety and compliance standards, customer training and support services.

The rise in construction and mining activities is anticipated to drive the growth of the heavy construction machinery rental market in the future. Construction activities involve the creation of large industrial structures, including buildings, railways, houses, power plants, and more, while mining pertains to the extraction of valuable resources from the earth. Renting heavy construction machinery in these sectors helps mitigate operational and financial risks by lowering the costs associated with purchasing new equipment and maintaining it. Consequently, an uptick in construction and mining activities will boost demand in this market. For example, in May 2024, the Office for National Statistics, a UK-based government agency, reported that total new construction orders surged by 15.9% to $1.86 trillion (£1,436 million) in the first quarter of 2024 compared to the fourth quarter of 2023. Additionally, in January 2024, the Australian Bureau of Statistics, an Australian government agency, noted that the mining industry experienced its fourth consecutive month of growth, increasing by 4.9% from October to November 2023. Therefore, the rise in construction and mining activities is propelling the growth of the heavy construction machinery rental market moving forward.

The heavy construction machinery rental market is further expected to thrive due to the expanding urbanization industry. Urbanization involves the migration of populations from rural to urban areas, contributing to the growth and expansion of urban centers. This trend fosters a dynamic construction landscape, making heavy construction machinery rental a strategic choice for urban businesses. The rental option offers flexibility, cost efficiencies, and access to a diverse range of specialized equipment tailored to the unique needs of urban construction projects. According to a World Bank report, over 50% of the global population resided in urban regions in 2022, and this number is projected to reach 6 billion by 2045, representing a 1.5-fold increase. The report also forecasts a 1.2 million km2 expansion of urban built-up area by 2030. Hence, the growth of urbanization is a driving force behind the expanding heavy construction machinery rental market.

The advent of artificial intelligence (AI) has become a significant trend gaining traction in the heavy construction machinery rental market. AI combines datasets and computer science to facilitate problem-solving. It is utilized to monitor performance data by equipping construction equipment with sensors. Major players in the heavy construction machinery rental sector are embracing new technologies like AI and machine learning to maintain their competitive edge. For instance, in August 2022, Caption, an Israel-based startup, launched ‘MineCept,’ an AI-driven system for heavy equipment. This system, installed on heavy construction machinery, delivers real-time information to site managers, operators, and safety personnel. The AI-based solution contributes to reducing accidents while enhancing the safety and productivity of heavy construction equipment at industrial plants, mines, or construction sites.

Innovations such as online rental marketplace applications are becoming a focal point for major companies operating in the heavy construction machinery rental market. Online rental marketplace applications serve as digital platforms facilitating the rental or leasing of various goods and services between individuals or businesses. United Mobility Technology AG, a Germany-based technology company, introduced Smart Rental in December 2022. This platform incorporates a 'Car-2-Go' concept, enabling users to rent construction equipment such as excavators and loaders conveniently near their job sites. The platform's digital features streamline the rental process, from registration to payment, providing users with a contact-free and efficient experience.

In February 2023, Cooper Equipment Rentals Limited, a Canada-based construction equipment rental company, acquired Hub Equipment, a Canadian provider of specialized heavy equipment. This strategic acquisition aligns with Cooper Equipment Rentals' goal of being the sole Canadian-owned, nationwide rental company, in line with the company's growth strategy.

Major companies operating in the heavy construction machinery rental market include Ashtead Group plc, United Rentals Inc., H&E Equipment Services Inc., Kanamoto Co. Ltd., Boels Rental Ltd., Haulotte Corporate, Herc Rentals Inc., Loxam S.A.S, Sumitomo Corporation, Hyundai Heavy Industries Group, Hitachi Construction Machinery Group, Caterpillar Inc., Komatsu Ltd., Volvo CE, Sunstate Equipment Co., Maxim Crane Works L.P., Ahern Rentals Inc., BigRentz Inc., Sunbelt Rentals Inc., Anderson Machinery Co., Romco M Offset Pvt. Ltd., Texas First Rentals, Aktio Co. Ltd., Nishio Rent All Co. Ltd., Atlas Copco AB.

North America was the largest region in the heavy construction machinery rental market in 2024. The regions covered in the heavy construction machinery rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the heavy construction machinery rental market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Heavy construction machinery rental involves the service of renting equipment designed for executing large construction projects. This rental service allows construction contractors to use specific heavy machinery for various construction tasks, providing cost savings in terms of equipment purchase, labor, maintenance, and operations.

The main equipment categories for heavy construction machinery rental include earthmoving equipment, material handling equipment, heavy construction vehicles, and others. Earthmoving equipment is designed for construction operations, capable of moving and grading soil and rock. Applications for these heavy machinery rentals include excavation and demolition, heavy lifting, tunneling, material handling, recycling, and waste management. These services cater to end-users in sectors such as infrastructure, construction, mining, oil and gas, manufacturing, and others.

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

The heavy construction machinery rental market includes revenues earned by entities by providing bulldozers for rent, drilling machinery leasing, and crane hire services. 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.

This product will be delivered within 3-5 business days.