Excavator Rental Market

Excavator Rental Market Analysis, By of Type (Compact Excavator, Crawler Excavator, Dragline Excavator, Long Reach Excavator, Suction Excavator) and Region- Market Insights 2023 to 2033

Analysis of Excavator Rental Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Excavator Rental Market Overview (2023-2033)

The excavator rental market size in terms of revenue was valued at US$ 5.8 Billion in 2022. The global market is projected to grow from US$ 6 Billion in 2023 to US$ 9.6 Billion by 2033-end, growing at a Compound Annual Growth Rate (CAGR) of 4.7% during the forecast period from 2023 to 2033.

An excavator is a heavy construction machine with boom, bucket, and cab mounted on a rotating platform which is called the house. It is primarily designed for digging, moving, and lifting materials. Excavators are widely used for earthmoving tasks such as construction, landscaping, and mining activities.

The excavator rental market is evolving rapidly in recent years. The continuous innovations and technological advancements such as the integration of GPS and telematics systems have enhanced the overall performance and efficiency of the excavators to meet and cater to the evolving needs of the construction and landscaping industries.

Report Attributes Details

Excavator Rental Market Size (2022A)

US$ 5.8 Billion

Estimated Market Value (2023E)

US$ 6 Billion

Forecasted Market Value (2033F)

US$ 9.6 Billion

Global Market Growth Rate (2023-2033)

4.7% CAGR

United States Market Share (2023)


China Market Growth Rate (2023-2033)

5.0% CAGR

United States Market Growth Rate (2023-2033)

4.9% CAGR

Market Share of Top 3 Countries


Key Companies Profiled

  • United Rentals
  • Sunbelt Rentals
  • The Home Depot Rental
  • Herc Rentals
  • BigRentz
  • BlueLine Rental
  • Compact Power Equipment Rental
  • Rental One

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Analysis of Excavator Rental (2018-2022) Vs. Market Forecast Outlook (2023-2033)

The excavator rental market has experienced steady growth in the past few years. The market faced an economic slowdown as all construction and landscaping activities went to a halt due to the COVID-19 outbreak. The market has witnessed a progression by growing from US$ 4.8 Billion in 2018 to 5.8 Billion in 2022, recovering from the decline of the COVID-19 pandemic.

As soon as the activities resumed, many companies and contractors shifted towards rental services instead of making large capital investments to have ownership of the excavator. Businesses could opt for rental services according to the requirement for the short to long term of the project. The excavator rental market is expected to grow with the rise in urbanization and increasing population. As the modern infrastructure is expected to grow, there will be a need for new residential buildings, commercial complexes, roads, bridges, and other urban infrastructure.

Owing to the aforementioned market dynamics, the global market is anticipated to witness of 5.4% CAGR, projected to create an absolute dollar opportunity of US$ 3.5 Billion during the forecast period.

  • Short Term (2023-2026): Increase in construction activities, such as, residential buildings, commercial complexes and other urban structure will support the growth of the excavator rental market.
  • Medium Term (2026-2029): With the rise in population, landscaping and deforestation to construction in confined areas, wide variety of excavators will help in the expansion of excavator rental market.
  • Long Term (2029-2033): In long run, companies and contractor may prefer more to rent equipment as depending on projects and avoid high investments and save on high costs of the projects. Therefore, the excavator rental market may witness expansion over the period.

Over the 2018-2022 historical period, the global excavator rental market registered a CAGR of 4.9%, and according to Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 5.4% CAGR between 2023 and 2033.

Excavator Rental Market Size, Share, Trends, Growth, Demand and Sales Forecast Report by Fact.MR

Market share analysis of excavator rental based on mobility and region is illustrated briefly in the above image. Under the mobility segment, crawled tracked sub-segment will dominate with 69.1% market share in 2023.

How Increase in Government Capital Spending on Infrastructure Development Uplifting Market Growth?

The expansion of the excavator rental market is positively impacted by an increase in government capital expenditures for infrastructure construction. Excavators are more in demand when the government spends more money constructing infrastructure like roads, bridges, and buildings. Excavators are crucial tools used to dig, move, and lift materials in these construction operations.

More infrastructure projects are being started, therefore construction firms frequently opt to hire excavators rather than purchase them outright. Renting offers flexibility while avoiding the significant upfront costs of equipment purchases. This increases the demand for excavator rentals, which is advantageous for market rental firms.

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Will Increasing Urbanization Growth Rate Set to Provide Platform for Excavator Rental?

Excavator rental markets are anticipated to benefit significantly from rising urbanization growth rates. The need for construction and infrastructure development increases as more people relocate to cities and urban areas grow. Excavators are necessary tools in many urban construction projects, which is increasing the demand of rental services.

With the help of excavators tasks such as clearing land, preparing construction sites, and digging foundations can be easily executed. Therefore, renting excavators is the best option for building businesses. Renting provides flexibility by letting companies access the tools they require for particular projects without having to worry about long-term ownership or maintenance costs. Additionally, it gives access to a variety of excavator models and sizes that are suited to the particular needs of urban development.

Rental excavators are projected to be more in demand as urbanization keeps expanding. Due to their ability to meet the building needs of metropolitan areas, assist infrastructure development, and contribute to the expansion of the excavator rental market, rental firms can benefit from this trend in a positive way.

What Factors Are Restraining the Market Growth?

Changes in consumer choices, such as businesses choosing to purchase excavators rather than rent them, can also have an impact on the development of the rental industry. A challenge to long-term growth is posed by the intense competition among rental providers, which can lead to pricing pressures and dwindling profit margins. While advantageous, technological improvements can often have drawbacks. The availability of more modern excavators may reduce the need for older rental models, necessitating an upgrade and adaptation by rental businesses.

The rental market may also be impacted by modifications to laws governing building, safety, and environmental standards. The necessity for equipment adjustments or higher expenses for rental companies may result from complying with new rules.

Rental companies should concentrate on diversifying their services, offering value-added solutions, and maintaining competitive pricing to reduce these risks. To assure continued growth in the face of unforeseen obstacles, they should also keep an eye on industry trends, make equipment updates, and build solid customer relationships.

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Country-wise Insights

What Role Does the United States Play in Driving the Increasing Demand for the Excavator Rental Market?

The rising demand for the rental market for excavators is largely driven by the United States. The nation's construction industry is thriving, and there are many infrastructure projects underway, including roads, bridges, office buildings, and housing developments. Excavators are needed for these projects to complete activities like site preparation, foundation digging, and excavation.

The U.S. government's emphasis on infrastructure development has increased construction activity and raised the demand for excavator rentals. Additionally, the United States' rising urbanization rate has prompted more building in metropolitan areas, which has raised demand for excavators.

Additionally, a number of well-known rental companies with a broad selection of excavators are based in the United States such as United Rentals, HERC Rentals, which supports the market's expansion. Excavator rentals are easy and cost-effective for construction enterprises to choose over making sizable capital investments due to the competitive environment and accessibility of rental services. In general, the United States plays a vital role in accelerating the market for renting out excavators.

With respect to the aforementioned dynamics, the U.S. excavator rental market would nurture at a compound annual growth rate of 4.9% over the forecast years 2023-2033.

What Are the Trends That Have Impelled the Use of Excavator Rental in China.?

China has been rapidly urbanizing and developing its infrastructure, which has sparked an increase in construction activities. Excavators are in high demand due to the demand for construction projects, which has led some businesses to choose rental options in order to efficiently and economically satisfy their equipment needs.

The emphasis on environmental sustainability and lowering carbon emissions is another notable trend. Due to this, demand in electric excavators and other environmentally friendly machinery is rising. In response to this trend, rental businesses now include electric excavators in their rental fleet.

Additionally, as e-commerce and digitalization have grown in popularity, it has been simpler for construction companies to access and rent excavators online. Because of the simplicity and streamlined leasing process, more businesses are choosing rental services rather than buying equipment. Therefore, renting excavators is a flexible and cost-effective choice for companies in China's competitive construction market because it avoids significant upfront expenses and maintenance obligations. Together, these trends have fueled China's growing demand for excavator rentals. China’s excavator rental market would nurture at a compound annual growth rate of 5.0% over the forecast years 2023-2033.

Category-wise Insights

Which Mobility Category of Excavator Rental is Leading Sales Value?

Under the mobility segment, the Tracked sub-segment is anticipated to hold the dominating market share. The segment is attributed to holding an approximate share of 69.1% in the year 2023. Owing to easily moving in rough terrain, the tracked excavator is chosen to be the best suitable option for excavator rental.

The company’s and contractor’s preference for tracked over wheeled mobility is creating the market potential for ease of executing a task. Owing to this tracked excavator segment is expected to grow with a 5.0% CAGR over the assessment period.

Does Landscape & Maintenance sector Offer Significant Growth Opportunities?

The segment contributes near about 33.2% of the global market value. As with the rise in urbanization, landscaping & maintenance creates ample opportunity for the excavator rental market. Tasks such as demolishing buildings, digging, trenching, and other earthmoving activities can be performed easily with the wide variety of excavators provided by excavator rental companies.

Competitive Landscape

Prominent excavator rental manufacturers are Herc Rentals, United Rentals, and BlueLine Rentals.

Excavator rental service providers in order to attract customers and meet their varied needs, service providers maintain a diverse inventory of excavators. They ensure they have a wide range of options available, to cater to different industries and applications. Additionally, they regularly update their inventory with the latest models and technologically advanced excavators to offer customers the most up-to-date excavator.

Fact.MR has provided detailed information about the key rental service providers of excavators, their total fleet, service portfolio, and revenue growth, in the recently published report.

Segmentation of Excavator Rental Industry Research

  • By Type :

    • Compact Excavator
    • Crawler Excavator
    • Dragline Excavator
    • Long Reach Excavator
    • Suction Excavator
  • By Size :

    • Mini or Compact (<6 Ton)
    • Medium (6 – 10 Ton)
    • Standard/Full-Size (10 – 50 Ton)
    • Heavy Excavator(>50 ton)
  • By Mobility :

    • Crawler/Tracked
    • Wheeled
  • By Application :

    • Construction
    • Mining
    • Forestry & Agriculture
    • Landscape and Maintenance
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

- FAQs -

What is the global excavator rental market size?

The global excavator rental market is expected to be valued at US$ 6 billion in 2023.

How is the market for excavator rental expected to fare going forward?

Worldwide demand for excavator rental is anticipated to reach US$ 9.6 billion by 2033-end.

How did the market perform over the last few years?

During 2018-2022, demand for excavator rental increased by 4.9% CAGR.

Which country excavator rental market accounts for a leading market share?

The United States tops the global excavator rental market, which accounts for 27.7% market share in 2023.

Which segment holds the highest market share?

Tracked under the mobility segment is predicted to account for a 69.1% share of global market in 2023.

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