Construction Equipment Rental Market

Construction Equipment Rental Market Analysis By Product Type (Earth Moving Machinery, Material Handling Machinery, Concrete & Road Construction Machinery) and By Region - Global Market Insights 2022 To 2032

Analysis of Construction Equipment Rental market covering 30+ countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Construction Equipment Rental Market Growth Outlook (2022-2032)

The global construction equipment rental industry is expected to be worth US$ 121 billion in fiscal 2022, up from US$ 115 billion in fiscal 2021. The industry grew 4.3% year over year last year. From 2022 to 2032, the market is expected to grow at a CAGR of 4.3%, reaching a value of US$ 185 billion by the end of 2032.

Increased government investment on public infrastructure development has fueled building and mining activity in the world's growing countries. This element has resulted in a significant market requirement for construction equipment. Growing construction machine prices are driving construction companies and contractors to shift their focus to renting construction equipment.

Furthermore, the advent of new technologies and a rising level of automation are likely to drive market expansion. During the projection period, developments such as equipment service tracking and mapping and digitized service for automated service enhancements are expected to boost market growth.

Many causes, however, are fueling the expansion of the construction equipment rental business, and the pandemic has provided a significant threat to its market. The 2019-20 epidemic has caused worldwide supply chain disruptions, including the closure of many manufacturing plants, severely hurting the infrastructure business and, as a result, the equipment rental sector.

Increasing labor costs, along with shifting demand patterns in nations such as the United States, China, the United Kingdom, and India, are fueling substantial market development potential. Wages and earnings increased by 0.9% in 2021 compared to the preceding month, according to the US Bureau of Labor Statistics.

Construction equipment rental has various advantages, including lower maintenance and technical costs. As the frequency of deaths on construction sites rises, businesses are replacing traditional construction equipment with AI, telematics, and IoT-enabled machinery, according to industry figures. Such developments and advancements are expected to propel the growth during the forecast period.

Report Attributes


Market Size in 2021

US$ 115 Billion

Market Value in 2022

US$ 121 Billion

Projected Forecast Value (2032)

US$ 185 Billion

Global Growth Rate (2022-2032)


Expected Growth Rate of the US Market (2022-2032)

4.5% CAGR

Anticipated Growth Rate of China Market (2022-2032)

3.8% CAGR

Prominent Players in The Global Market

  • United Rentals Inc.
  • Herc Holdings Inc.
  • Ashtead Group Plc
  • Aktio Corporation
  • Loxam Sas
  • Kanamoto Co. Ltd.
  • Nishio Rent All Co. Ltd.
  • H&E Equipment Services Inc.
  • Nikken Corporation
  • Cramo Group
  • Ramirent Plc
  • Maxim Crane Works L.P.
  • KiloutouSarens Nv
  • Taiyokenki Rental Co. Ltd.
  • Ahern Rentals Inc.
  • Boels Rental
  • Speedy Hire Plc.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

2017-2021 Construction Equipment Rental Market Demand Analysis vs. Forecast 2022-2032

According to market research and competitive intelligence provider Fact.MR- the market for construction equipment rental reflected a value CAGR of 3.5% during the historical period, 2017- 2021. Cutting operational expenses of construction equipment and increasing expenditures in the residential sector are two significant variables that have previously boosted market demand.

The increased cost of construction equipment, along with the high cost of equipment regular maintenance, is predicted to increase demand for construction equipment rental solutions. Despite a negative slide caused by the COVID-19 epidemic, outlook for construction equipment rental remained positive, as governments continued to provide regular financial assistance for various building projects.

Furthermore, the development sector is fast-paced and heavily impacted by market swings. Renting construction equipment safeguards the company against unforeseeable financial downturns. Renting out a wide range of technologically modern equipment is also increasing market income. The market is expected to grow rapidly between 2022 and 2032.

Prominent Growth Drivers Influencing Construction Equipment Rental Market

Fluctuations in the Economic Cycle Increase the Demand for Construction Equipment Rental Services

The advantages of leasing power generation equipment are enhanced in today's economic structure, taking into consideration the cyclicality of emerging businesses. Contractors and construction businesses have changed from acquiring new equipment to leasing it across production sites.

Many analysts and business executives anticipate that as a result of the pandemic issue, the need for rental services and equipment rental will increase dramatically. Acquiring new equipment may incur a number of expenditures, including purchase price, ownership, maintenance, and repair, which may increase their overheads, reducing recovery chances.

In conjunction to this cost element, cyclical and financial variations in the construction sector make it challenging for businesses to enhance the utilization of the equipment they acquire, particularly when the equipment is inactive during a sluggish business period. In this instance, leasing is an appealing alternative, especially because some businesses are bracing for the probable impact of an economic downturn and slowed operations. Such factors are responsible for boosting the demand during the forecast period.

Increased technological advances to accelerate their demand

The rapid growth of technology in the car and heavy equipment sectors has boosted the performance and efficiency of construction equipment. The key companies in the equipment industry are concentrating their efforts on building smarter machines by combining proprietary technological systems. A Telematics system delivers concise information related to the location and performance indicators of construction equipment and vehicles.

The system relays data such as engine hours idling, GPS position, and fuel usage; nevertheless, the systems demand a large investment, making them expensive for many small contractors and builders. As a result, the construction equipment rental business has solved the problem by reducing the total cost of ownership and offering rental possibilities. During the forecast period, such advancements are anticipated to fuel the expansion of construction equipment rental.

More Insights, Lesser Cost (-50% off)

Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR

What Could Possibly Hinder Construction Equipment Rental Market Demand?

The Construction Equipment Rental Industry will be hampered by the Economic Downturn

The construction business is sensitive to economic downturns and recessions. The construction machinery rental market is influenced by an economy's business cycle, which has gone through several economic cycles over its life cycle and shows a high or low economic growth.

Economic transformation is divided into four cyclical stages: expansion, economic downturn, bottoming out, and restoration. In the backdrop of economic prosperity, the construction sector has also experienced rapid growth, with construction equipment rental and profitability increasing tremendously.

This expansion is the result of strong customer preferences and easy access to private and public investment, or the construction sector is in an economic slump as a result of a decrease in final production owing to tightening consumer demand. The consequent decrease in building activity has an effect on the construction machinery rental sector.

Category-wise Insights

Which Product Type is forecast to gain the Maximum Market Share?

Increasing need to reduce operating costs has increased demand for Earth Moving Machinery

The earthmoving machinery rental category is predicted to lead the global construction equipment rental market in 2022, and this dominance is expected to continue throughout the forecast period. This sector is expected to account for 60% of the worldwide market by 2022.

The rising use of earthmoving excavators in the agriculture, mining, and construction industries contributes considerably to category growth. Crawler excavators, backhoe loaders, micro excavators, and skid-steer loaders, on the other hand, have a higher load capacity and greater engine performance.

These characteristics of earthmoving equipment allow them to be employed in severe operating settings. Furthermore, the increasing building of domestic and major commercial civil projects has boosted construction firms' and contractors' preference for renting earthmoving equipment. Such developments will increase the segmental growth during 2022-2032.

By Product, which Construction Equipment Rental Segment is likely to dominate?

Concrete and Road Construction Machinery will gain the dominant share of the market

From 2022 to 2032, the concrete and road construction machinery segment is expected to develop at a compound yearly growth rate of 5.5%. Road connection has the ability to determine the country's future economy, since existing infrastructure is critical to boosting trade and commerce operations.

The United States federal government enacted the Bipartisan Infrastructure Deal (Infrastructure Investment and Jobs Act) in 2021, allowing for $110 billion in funding to construct bridges, roads and other infrastructure in the next five years.

To minimize traffic fatalities and increase connectivity, safer streets and roadways will be built. Furthermore, several growing nations in Asia Pacific, such as India and China are focusing on improving road connectivity. Such trends are expected to propel the growth during the forecast period.

Country-wise Analysis

What is the outlook of the U.S Construction Equipment Rental Market?

Rising Investment in Residential Construction Projects Expands Growth Opportunities

According to Fact.MR analysis, the US market in 2022 is expected to be worth US$ 65 Billion, with a CAGR of 4.5% during the forecast period. Investment in the residential industry is likely to underpin a strong US economy. This market is being driven by construction equipment with innovative and fuel-efficient technologies, as well as standard safety measures.

Several organizations are adopting rental solutions to serve the expanding building activity. As a consequence of increased government expenditure on public infrastructure and governmental utilities, the market is projected to adopt new technology.

According to a study issued in 2022, Alberta's government spent over US$ 10 billion in infrastructure projects to enhance the province's economy. Thus, governmental developments are quite responsible for accelerating the growth in the US market construction equipment rentals.

What can be expected from the Chinese market for construction equipment rental?

China is likely to have the largest increase in sales revenue.

In terms of potential, demand for construction equipment rental is expected to grow at a CAGR of more than 3.5% in China throughout the evaluation period. According to Fact.MR, the market worth is expected to climb from US$ 67 billion in 2022 to US$ 110 billion in 2022.

This market expansion is supported by a number of favorable factors, including lower labor costs, modern manufacturing facilities, and large production capacity; and hence China is the world's largest manufacturer of the construction equipment. It distributes machinery to a number of European and Asian nations.

As China's population and urbanization increase, so does expansion in the IT sector, 2022 is expected to profit throughout the projection period. Such developments will propel the demand for construction equipment rental in this region during 2022-2032.

Start-up Scenario

  • EquipmentShare is a SaaS-powered marketplace for construction equipment leasing and smart digital solutions. It offers a means for contractors to rent and lease contracting equipment such as excavators, power tools, skid loaders, lifts, and more. It also offers a cloud-connected infrastructure outfitted with telematics and machine hardware to provide constructions and industrial firms with a real-time picture of project locations.
  • BigRenttz rents out heavy construction equipment. Users may explore its equipment collection on its webpage and hire it on an hourly, daily, weekly, or recurring basis. Customers can hire the equipment by completing an online form. BigRentz both delivers and collects the equipment.

Competitive Landscape

  • United Rentals is another industrial and construction equipment rental marketplace that operates online. Users may search for and purchase industrial tools and equipment. Compressors and tools, earthmoving equipment, forklifts, vehicles and trailers, and other equipment are available. The firm provides iOS and Android mobile apps. The firm also provides fleet and equipment management rental solutions. In 2021, the firm had yearly revenues of $9.72 billion and a net profit of $1.39 billion.
  • Herc Holdings Inc., a large North American equipment rental business functioning as Herc Rentals Inc., stated in August 2021 that it had completed the purchase of essentially all of CBS Rentals' assets (CBS). The acquisition of CBS brings Herc Rentals' footprint in Texas - one of North America's major equipment rental markets - to 38 physical sites, which combined provide general and specialty equipment rental solutions as well as related services.
  • United Rentals with General Finance Corp. reached a formal agreement in April 2021 for United Rentals to buy General Finance for US$996 million. Under the terms of the transaction, United Rentals will buy General Finance for US $19 per cash share and assume $400 million in net debt.

Key Segments Covered In The Market Report

  • By Product :

    • Earth Moving Machinery
    • Material Handling Machinery
    • Concrete & Road Construction Machinery
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia
    • Oceania
    • Middle East & Africa

- FAQs -

What will be the growth rate of the global construction equipment rental market during 2022 to 2032?

The global construction equipment rental market is expected to grow with a 4.3% CAGR during 2022-2032.

What is the present market value of the construction equipment rental industry?

The global construction equipment rental market is currently worth more than US$ 115 Billion.

What will be the projected market size of the construction equipment rental market by 2032?

The global construction equipment rental market is projected to reach a market size of US$ 185 Billion by 2032.

Which segment is expected to dominate the global construction equipment rental market during 2022?

The earthmoving machinery rental category is expected to have a 60% market share in 2022 and to dominate the worldwide market from 2022 to 2032.

What will be the outlook of other product segments during the forecast period?

The concrete and road construction machinery industry is predicted to increase at a CAGR of 5.5% between 2022 and 2032.

How is the US construction equipment rental market projected to grow during 2022-2032?

The US region is predicted to grow with a 4.5% CAGR during 2022-2032.

What was the outlook of the Chinese construction equipment rental market during 2022?

The Chinese region is forecast to have a CAGR of 3.8% over the projection period of 2022- 2032.

At what rate did the construction equipment rental market flourish from 2017-2021?

From 2017-2021, the construction equipment rental market grew at a CAGR of 3.5%.

Construction Equipment Rental Market

Schedule a Call