The industrial and construction equipment rental market has seen significant growth in recent years, driven by rising demand for cost-effective, flexible solutions in sectors such as construction, infrastructure development, and manufacturing. Renting equipment helps businesses avoid high capital expenditures while enabling them to access the latest technology and machinery. The increasing trend towards urbanization, large-scale infrastructure projects, and the need for specialized equipment are key factors propelling the market forward. Additionally, rental companies are expanding their offerings to include not only traditional earthmoving and material handling equipment but also more advanced machinery such as aerial work platforms and cranes.
Leading companies, such as United Rentals and Ashtead Group, are expanding their offerings through strategic acquisitions and fleet upgrades to meet the growing demand for rental services in both developed and emerging markets. Additionally, advancements in digital platforms and mobile apps for equipment booking and management are driving the growth of the market by providing customers with greater convenience and operational efficiency.
This product will be delivered within 1-3 business days.
Market Size
The global industrial and construction equipment rental market is estimated to be valued at approximately USD 100 billion in 2023. The market is expected to grow at a compound annual growth rate (CAGR) of around 5.4% from 2024 to 2029. This growth is driven by the increasing demand for rental services across construction, mining, and manufacturing industries, as well as growing investments in infrastructure projects worldwide.Market Share & Trends Analysis
By Product Type
The market for industrial and construction equipment rental can be segmented based on product type:- Earthmoving Equipment: Dominates the market, driven by the need for excavation, grading, and other earthmoving activities in construction and mining projects.
- Material Handling Equipment: This segment is growing rapidly as the need for equipment such as forklifts, cranes, and hoists increases in warehouses and construction sites.
- Road Building & Concrete Equipment: Essential for large-scale road construction and concrete works, this equipment is widely rented to support infrastructure projects.
- Aerial Work Platforms: These machines are in high demand for tasks involving high elevation, such as building maintenance, window cleaning, and construction work on tall structures.
- Others: This includes specialized equipment for specific industries such as mining, demolition, and power generation.
By Key Players
Leading players in the industrial and construction equipment rental market include:- United Rentals: One of the largest players globally, offering a wide range of equipment for various industries, including construction, manufacturing, and mining.
- Ashtead Group: A major player with a strong presence in the North American and European markets, known for its extensive fleet and service offerings.
- Herc Rentals: Focuses on providing equipment rental services across the U.S. and Canada, with a broad portfolio spanning construction, industrial, and energy sectors.
- Loxam: One of the largest rental companies in Europe, offering diverse equipment solutions to meet the needs of the construction, industrial, and infrastructure markets.
- AKTIO Corporation: A key player in Japan, specializing in rental equipment for large-scale construction and civil engineering projects.
By Region
The global industrial and construction equipment rental market can be segmented by region:- North America: Accounts for a significant portion of the market share, driven by large-scale infrastructure projects, the growing construction sector, and demand for specialized equipment. The region is projected to hold approximately 30% of the global market share by 2029.
- Europe: A strong market driven by infrastructure development, with a growing demand for flexible and cost-effective equipment rental services. Europe is expected to capture around 25% of the market by 2029.
- Asia-Pacific: Expected to witness the fastest growth, with emerging economies like China and India driving the demand for construction and industrial equipment. The region is likely to account for more than 35% of the market share by 2029.
- Latin America and Middle East & Africa: Gradually emerging markets with increasing adoption of rental services, supported by large infrastructure projects in countries like Brazil, the UAE, and Saudi Arabia.
Market News on Policy and Companies
As governments around the world continue to invest in infrastructure and construction projects, the demand for rental services is expected to grow. Policies promoting environmental sustainability and reducing carbon footprints are encouraging the use of rented, fuel-efficient, and low-emission machinery. This trend is particularly noticeable in Europe and North America, where stringent environmental regulations are in place. In response to these demands, rental companies are expanding their fleets to include more eco-friendly options.Leading companies, such as United Rentals and Ashtead Group, are expanding their offerings through strategic acquisitions and fleet upgrades to meet the growing demand for rental services in both developed and emerging markets. Additionally, advancements in digital platforms and mobile apps for equipment booking and management are driving the growth of the market by providing customers with greater convenience and operational efficiency.
Segment Forecasts (2024-2029)
Growth in Key Segments
- Earthmoving Equipment: Expected to grow at a CAGR of 5.6% as construction and mining industries continue to require specialized equipment for large-scale excavation and grading.
- Material Handling Equipment: This segment is projected to see steady growth with a forecasted CAGR of 5.2%, driven by increased demand in warehouses, logistics, and construction sites.
- Aerial Work Platforms: Projected to grow at a CAGR of 6.1%, with increasing use in construction, building maintenance, and industrial applications requiring high elevation access.
Regional Insights
The Asia-Pacific region is expected to lead the market, accounting for more than 35% of the global market share by 2029. The growth is supported by strong infrastructure development, particularly in China and India, where both urbanization and industrialization are increasing rapidly. The North American and European markets will also continue to experience steady growth, while regions such as Latin America and the Middle East are seeing gradual increases in demand for rental equipment.This product will be delivered within 1-3 business days.
Table of Contents
Chapter 1 Executive SummaryChapter 2 Abbreviation and Acronyms
Chapter 3 Preface
Chapter 4 Market Landscape
Chapter 5 Market Trend Analysis
Chapter 6 Industry Chain Analysis
Chapter 7 Latest Market Dynamics
Chapter 8 Historical and Forecast Industrial & Construction Equipment Rental Market in North America (2019-2029)
Chapter 9 Historical and Forecast Industrial & Construction Equipment Rental Market in South America (2019-2029)
Chapter 10 Historical and Forecast Industrial & Construction Equipment Rental Market in Asia & Pacific (2019-2029)
Chapter 11 Historical and Forecast Industrial & Construction Equipment Rental Market in Europe (2019-2029)
Chapter 12 Historical and Forecast Industrial & Construction Equipment Rental Market in MEA (2019-2029)
Chapter 13 Summary For Global Industrial & Construction Equipment Rental Market (2019-2024)
Chapter 14 Global Industrial & Construction Equipment Rental Market Forecast (2024-2029)
Chapter 15 Analysis of Global Key Vendors
List of Tables and Figures
Companies Mentioned
- United Rentals
- Ashtead Group
- AKTIO Corporation
- Herc Rentals
- Loxam
- Kanamoto
- NISHIO GROUP
- Nikken
- H&E
- Home Depot
- Maxim Crane
- Cramo
- Kiloutou
- Taiyo Kenki Rental
- Coates Hire Ltd
- Sarens
- Boels Verhuur
- Sunstate Equipment
- Zeppelin Group
- Zhejiang Haikong Nanke Huatie
Methodology
LOADING...
