Skid Steer Rental Market

Skid Steer Rental Market Outlook (2023 to 2033)

Based on the analysis by Fact.MR, the global skid steer rental market is estimated to be valued at US$ 811.8 million in 2023 and it is expected to grow at a CAGR of 3.2% to reach US$ 1,112.3 million by the end of 2033.

The skid steer rental market has experienced significant and consistent growth over the past decade. Skid steers have become a staple in the construction and landscaping industries due to their versatility, compact size, maneuverability, and ability to perform a wide range of tasks.

The expansion of the construction industry, particularly in the residential and commercial sectors, is a key driver behind the increasing demand for skid steer rentals. These machines are extensively used for earthmoving, grading, excavation, and material handling tasks at construction sites.

The trend of urbanization and the focus on landscaping urban spaces has fueled the demand for skid steer rentals. Such a trend has given the market an absolute dollar opportunity of US$ 300.4 million between 2023 to 2033.

Report Attributes	Details
Skid Steer Rental Market Size (2022A)	US$ 786.6 Million
Estimated Market Value (2023E)	US$ 811.8 Million
Forecasted Market Value (2033F)	US$ 1,112.3 Million
Global Market Growth Rate (2023-2033)	3.2% CAGR
Europe Market Share (2023)	24.2%
China Market Growth Rate (2023-2033)	4.0% CAGR
Key Companies Profiled	BigRentz BlueLine Rental Compact Power Equipment Rental Herc Rentals The Home Depot Rental United Rentals

Historic and Future Pathway Analysis for the Skid Steer Rental Market

Continued economic growth and increased investments in infrastructure development projects are expected to drive the demand for skid steer rentals. Governments worldwide are increasingly prioritizing infrastructure development as a means to stimulate economies, leading to a sustained need for skid steers in construction and infrastructure projects. These machines play a crucial role in tasks such as debris removal, digging trenches, laying underground utilities, and more.

The growing preference for renting equipment instead of purchasing is a significant boon for the skid steer rental market. Renting offers several advantages, including flexibility, cost-effectiveness, and access to the latest models without long-term commitments. Rental companies are recognizing this trend and expanding their offerings to meet customer demands. They are providing additional services such as maintenance, training, and flexible rental terms to attract customers and retain their loyalty.

• Short Term (2023-2026): Urbanization trends fuel the demand for urban landscaping, where skid steers play a vital role in land clearing, grading, and material transport. This is likely to drive significant growth in the skid steer rental market during the projected period (2023-2026).
• Medium Term (2026-2029): Ongoing advancements in skid steer technology, including advanced features, attachments, and automation, enhance productivity, safety, and versatility, further driving the growth of the rental market in the medium term.
• Long Term (2029-2033): Increasing emphasis on sustainability and stricter environmental regulations will drive the adoption of electric and low-emission skid steers, leading to substantial long-term growth in the market.

On the back of the aforementioned facts, the skid steer rental market is expected to grow at a CAGR of 3.2% during the forecast period from 2023-2033, According to the Fact.MR, a market research and competitive intelligence provider.

Market share analysis of skid steer rental based on engine power and region is provided in a nutshell in the above image. Under the engine power segment, the up-to-60 HP sub-segment is expected to dominates with a 46.0% market share in 2023.

Market Dynamics Outlook

“Growing Preference for Equipment Rental: Boosting the Skid Steer Rental Market”

The growing preference for equipment rental has transformed the business landscape, redefining how companies access and utilize machinery. This shift from equipment ownership to rental services has had a profound impact on the skid steer rental market.

Businesses across industries have embraced skid steer rentals as a strategic approach to mitigate operational, financial, and logistical risks. By transferring the burden of equipment ownership and associated risks to rental companies, businesses are enhancing their operational flexibility, reducing financial exposure, and ensuring smoother project execution. This increased focus on risk mitigation has become a critical driver fuelling the demand for skid steer rental services.

As more businesses recognize the advantages of renting equipment rather than owning it, the skid steer rental market is poised for continued growth and expansion in the foreseeable future. This trend reflects a fundamental shift in how businesses approach equipment procurement, emphasizing the benefits of flexibility, cost-effectiveness, and risk mitigation associated with rental services. The skid steer rental market is well-positioned to meet the evolving needs of businesses, driving its sustained growth in the coming years.

“Factors Restricting the Growth of the Skid Steer Rental Market”

The maintenance and repair of skid steers pose significant challenges for rental companies. The wear and tear endured during rental periods necessitate regular upkeep and occasional repairs, leading to costs and downtime that affect profitability and equipment availability.

Understanding and addressing these factors is crucial for rental companies to navigate challenges and unlock growth opportunities. Strategies such as offering competitive pricing, expanding equipment availability, providing comprehensive maintenance services, and investing in operator training to help mitigate these restrictions.

Country-wise Insights

What Factors Drive Skid Steer Rental Market in the US?

Modernizing U.S. infrastructure is a critical government priority, creating a significant opportunity for industries like the skid steer rental market. The aging infrastructure and the need for upgrades in areas such as roads, bridges, airports, and water systems have highlighted the importance of modernization. This endeavor aims to improve infrastructure quality, efficiency, and sustainability, fostering economic growth and ensuring public safety.

The modernization of U.S. infrastructure is expected to involve significant investments from federal, state, and local governments, as well as public-private partnerships. The proposed infrastructure bill aims to allocate substantial funding to upgrade and expand various infrastructure sectors, providing a favorable environment for the skid steer rental market to thrive.

Why India Skid Steer Rental Market is Flourishing?

India has been witnessing significant infrastructure development in recent years. The government's focus on initiatives such as "Make in India," "Smart Cities," and "Housing for All" has led to a surge in construction projects, including roads, bridges, residential complexes, and commercial buildings. Skid steers are widely used in these projects for tasks like excavation, earthmoving, and material handling, creating a strong demand for rental services in the country.
Rapid urbanization and the growth of the real estate sector in India have fueled the demand for skid steer rentals. As cities expand and new urban areas emerge, there is a need for land clearing, leveling, and site preparation. Skid steers are versatile and compact, making them ideal for navigating tight spaces in urban environments, making them a popular choice for rental.

Category-wise Insights

Why Do Vertical Lifts are Gaining Traction in the Skid Steer Rental Market?

Vertical lift skid steers excel in applications that require extended reach and lifting capacity. Their design allows for increased lift heights, enabling operators to efficiently work in construction, material handling, and landscaping projects that demand higher reach capabilities. This advantage makes them versatile and well-suited for a wide range of tasks, making them highly sought after in the rental market.

The design of vertical lift skid steers prioritizes operator comfort and visibility. With an elevated operator station and improved visibility to the work area, operators can maneuver with greater precision and confidence. This design also provides a comfortable working environment, reducing operator fatigue and increasing productivity during long hours of operation.

Which End-use Sector is Expected to Provide the Most Revenue for the Market?

The construction and infrastructure sector has established itself as a dominant revenue generator in the skid steer rental market. Skid steers have become indispensable assets on construction sites, performing crucial tasks such as site preparation, material handling, excavation, grading, and demolition. Their compact size and agile maneuverability grant them an advantage in navigating tight spaces and confined job sites that larger machinery often struggle with.

With a diverse range of attachments available, skid steers offer versatility and adaptability, maximizing their utility and value in various construction applications. Rental services play a vital role in meeting the sector's demand for flexible equipment solutions, enabling construction companies to access reliable machinery without the burdens of ownership and maintenance costs.

Hence, as the construction and infrastructure sector continues to grow, fueled by urbanization and infrastructure development projects, the demand for skid steer rentals is expected to remain strong.

Eminent Player’s Key Stratagems

Eminent skid steer rental service providers are BigRentz, BlueLine Rental, Compact Power Equipment Rental, Herc Rentals, Sunbelt Rentals, The Home Depot Rental, and United Rentals.

Leading players in the skid steer rental market prioritize having a diverse and well-maintained equipment fleet. They invest in a wide range of skid steer models and attachments to cater to different customer needs and project requirements.

Regular maintenance and inspection programs are implemented to ensure that their equipment is in optimal condition, minimizing downtime and enhancing customer satisfaction. Also, companies are investing in strategic marketing and branding efforts to position themselves as trusted and reputable providers in the skid steer rental market.

• In September 2022, With the acquisition of rental company GSV, French rental company Kiloutou entered the Denmark market.
• In January 2022, Boels Rental finalized the acquisition of the rental company Eekels Pompen. It was the most recent addition to Boels Rentals' speciality rental company, which was founded ten years ago.

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

Segmentation of Skid Steer Rental Industry Research

• By Lift Type :

  • Radial
  • Vertical

• By Engine Power :

  • Upto 60 HPC
  • 60-80 HP
  • Above 80 HP

• By Operation Capacity :

  • Upto 2,000 lbs
  • 2,000-2,200 lbs
  • 2,200-3,000 lbs
  • 3,000-4,000 lbs
  • Above 4000 lbs

• By End Use :

  • Construction
  • Landscaping & Maintenance
  • Agriculture & Forestry
  • Mining
  • Others

• By Region :

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