Dump Truck Rental Market
Dump Truck Rental Market Analysis By Type (Rear Dump, Side Dump, and Bottom Dump), By Capacity (Up To 5 Tons, 5--20 Tons, and Above 20 Tons) and Region- Market Insights 2023 to 2033
Analysis of Dump Truck Rental Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Dump Truck Rental Market Growth Outlook (2023 to 2033)
The global dump truck rental market is expected to reach a valuation of US$ 6.7 billion in 2023 and grow at a CAGR of 3.8% to reach US$ 9.8 billion by the end of 2033.
Dump trucks made construction activities easier as it helps in transporting the building material and moving the waste debris for the initiation of the construction project. With the increasing construction activities, infrastructure development, and the demand for efficient transportation of construction materials from one site to another the demand for dump trucks is likely to increase in the coming years. Recycling construction materials also paves the way for the dump truck rental services market growth.
Dump Truck Rental Market Size (2022A)
US$ 6.5 Billion
Estimated Market Value (2023E)
US$ 6.7 Billion
Forecasted Market Value (2033F)
US$ 9.8 Billion
Global Market Growth Rate (2023-2033)
United States Market Share (2023)
China Market Growth Rate (2023-2033)
United States Market Growth Rate (2023-2033)
Market Share of Top 3 Countries
Key Companies Profiled
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Historic to Future Growth Outlook for Dump Truck Rental Market
A dump truck is a large engine vehicle that has a deep, open bed in the back that is used to transport items like sand, debris, lumber, scrap metal, and construction items. Dump trucks are mostly used for the early phase of construction projects. As in the early phase, there is a need for transportation of construction raw materials for the construction of the buildings or used for transporting the demolition waste or excavation before initiating the construction project.
- Short Term (2023-2026): Increasing demand for construction projects and infrastructure development will lead the dump truck rental market growth over the assessment period.
- Medium Term (2026-2029): Rise in the urbanization will further drive the demand for dump trucks in the market as there will be an increase in construction projects due to the rise in the population and expansion of the cities.
- Long Term (2029-2033): Technology and long-term trade relations coupled with pricing create immense growth opportunities for dump truck rental service providers in the long run.
Over the 2018-2022 historical period, the global dump truck rental market registered a CAGR of 3.9%, and according to Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 3.8% CAGR between 2023 and 2033.
Market share analysis of dump truck rental based on capacity and region is illustrated briefly in the above image. Under the capacity segment, 5-20 tons sub-segment will dominate with 59.1% market share in 2023.
“Recycling Construction Material Paving the Way for the Dump Truck Rental Market”
The mushrooming recycling of construction materials has a significant impact on the dump truck rental services market. As the emphasis on sustainable practices and environmental consciousness grows, recycling construction materials has become a crucial aspect of the construction industry.
This trend is driving the demand for dump truck rental services as dump trucks play a vital role in transporting recycled construction materials from recycling facilities to construction sites. These trucks are ideal for carrying bulk quantities of materials such as crushed concrete, asphalt, bricks, or wood chips.
Dump truck rental services provide construction companies with a cost-effective and efficient means of transporting these recycled materials, enabling them to integrate sustainable practices into their projects.
Recycling construction materials often involves temporary projects or sites where materials need to be collected and transported to recycling facilities. Dump truck rentals offer the flexibility required for such temporary projects. Construction companies are renting dump trucks for the specific duration needed to collect and transport the recycled materials, eliminating the need for long-term ownership or storage of trucks.
The increasing focus on recycling construction materials and the integration of sustainable practices in the construction industry are driving the demand for dump truck rental services.
“Factors Affecting the Growth of the Dump Trailer Rental Market”
Different-size trucks often require different class CDL licenses. Obtaining these licenses is a significant expense, ranging from US$ 3,000 to US$ 7,000. This cost deters potential customers from renting dump trucks, particularly for occasional or short-term use.
Dump trucks are also subjected to wear and tear during their usage, requiring regular maintenance and repairs. Additionally, the value of the trucks depreciates over time, impacting the profitability of rental businesses. Managing maintenance costs and ensuring timely replacements or upgrades pose challenges for rental companies.
What Factors Drives Dump Truck Rental Market Growth?
The rental market for dump trucks in the United States is significantly impacted by the rapidly changing technology environment. The future of the industry will be shaped by a number of changes and improvements brought about by technological advancements.
The development of electric and hybrid dump trucks will have a positive impact on the environment and may result in reduced expenses. Rental companies purchase eco-friendly trucks to satisfy consumer needs and adhere to rules as sustainability gains importance. The expansion of electric infrastructure and the number of charging stations will encourage the use of electric dump trucks.
The rental process is also becoming more streamlined due to digital tools and smartphone apps, which make it simpler for consumers to look for available vehicles, seek quotations, and manage their rentals. These platforms improve convenience and transparency in the renting process by facilitating effective communication between rental providers and customers.
With respect to the aforementioned factors, the U.S. dump truck rental market would nurture at a compound annual growth rate of 4.3% over the forecast years 2023-2033.
Why Chinese Dump Truck Rental Market is Flourishing?
The market expansion for dump trucks is significantly impacted by China's quick urbanization. Dump truck demand is increasing as China keeps up its ambitious urban development goals for infrastructure and building projects. Dump trucks are heavily required to deliver building supplies, debris, and waste because the country's growing cities demand vast road networks, skyscrapers, and other urban amenities.
This demand is fueled by China's enormous population, economic expansion, and growing urbanization programs. The belt and road initiative and other infrastructure initiatives made by the Chinese government have had a positive impact on the dump truck market. Profiting from this trend, rental businesses are offering a variety of dump trucks that are specifically suited to China's urbanization requirements. China's contribution to urbanization is a key factor in the expansion and growth of the dump truck rental market across the country.
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How Does 5-20 Tons Segment Driving the Growth of the Dump Truck Rental Market?
The 5-20 tonnes segment is very adaptable and in demand, since it supports a broad range of projects and applications. In urbanization, infrastructure development, and construction projects, dump trucks in the 5-20 ton range are frequently utilized. They are useful for hauling materials including gravel, sand, dirt, and building debris due to their modest size and capacity.
These trucks are perfect for negotiating crowded urban areas while yet transporting significant cargo since they offer a balance between maneuverability and payload capacity. The demand for dump trucks in the 5-20 tons range is still high as urbanization continues to increase the requirement for infrastructure development, including roads, buildings, and utilities.
Construction firms and contractors are drawn to renting these trucks because of their flexibility and cost-effectiveness. They can use the necessary equipment by renting it instead of having to pay for ownership and upkeep over the long term. As a result, the 5-20 tons category is crucial to satisfying the various requirements of building and urbanization projects, which supports the expansion of the rental market for dump trucks.
Under the capacity segment, the 5-20 tons sub-segment is anticipated to hold the dominating market share. The segment is attributed to holding an approximate share of 59.1% in the year 2023. Owing to broad uses and cost efficiency, the 5-20 tons dump trucks are the best under-capacity source segment.
How Will the Mining and Quarrying Industry Contribute to Dump Truck Rental Market Growth?
The market for renting dump trucks is anticipated to increase rapidly with the help of the mining and quarrying sector. For the transportation of extracted resources including minerals, ores, and aggregates, this industry mainly relies on dump trucks. Due to the growing worldwide demand for resources, mining, and quarrying operations will continue to grow, and this will result in a corresponding increase in demand for dump truck rentals.
With the help of rental services, mining businesses may grow their operations and adapt to changing production demands without having to worry about high long-term ownership expenses. Dump truck rental businesses can also provide specialized vehicles with mining-specific features like high payload capacities and off-road capabilities.
The mutually beneficial link between the mining and quarrying sector and the rental market for dump trucks. In the upcoming years, it is anticipated that the mining and quarrying sector's mutually beneficial interaction with the dump truck rental market would spur expansion on both fronts.
The segment will contribute nearly about 33.2% of the global market value in 2023. In the present times, renting out a dump truck is simpler and more pocket efficient than purchasing one according to the requirement of the project.
Prominent dump truck rental service providers are BlueLine Rental, Compact Power Equipment Rental, Herc Rentals, Rental One, Sunbelt Rentals, Home Depot Rental, and United Rentals.
Market players are investing in enhancing their digital presence due to the growing awareness regarding the importance of online presence, rental market players establish user-friendly websites or mobile applications. These platforms allow customers to browse available equipment, check availability, request quotes, make reservations, and manage their rental accounts conveniently.
Fact.MR has provided detailed information about the key rental service providers of dump trucks, their total fleet, service portfolio, and revenue growth, in the recently published report.
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Segmentation of Dump Truck Rental Industry Research
By Type :
- Rear Dump
- Side Dump
- Bottom Dump
By Capacity :
- Up to 5 Tons
- 5-20 Tons
- Above 20 Tons
By Propulsion :
- Conventional ICE
- Electric and Others
By End Use Industry :
- Construction and Infrastructure
- Landscaping and Gardening
- Agriculture and Farming
- Mining and Quarrying
- Waste Management
- Transportation and Logistics
By Region :
- North America
- Latin America
- East Asia
- South Asia & ASEAN
- Middle East & Africa
- FAQs -
The global dump truck rental market was valued at US$ 6.5 billion in 2022.
The global dump truck rental market is expected to grow with a 3.8% CAGR from 2023 to 2033.
During 2018-2022, demand for dump truck rentals increased at 3.9% CAGR.
5-20 tons dump truck is predicted to account for 59.1% share of the global market in 2023.
The US dump truck rental market is predicted to grow by 4.3% during 2023-2033.
The Chinese dump truck market is predicted to grow at a CAGR of 4.0% during 2023-2033.