Tool Rental Market

Tool Rental Market Analysis by Power Tools, Hand Tools, Construction Equipment, Garden & Landscaping Tools, Material Handling Equipment, Plumbing & Pipe Tools, and Others 2023 to 2033

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

Tool Rental Market Growth Outlook (2023 to 2033)

The global tool rental market is expected to be worth US$ 54.7 billion in 2023 up from US$ 52.5 billion in 2022 and the market is expected to grow at a rate of 4.2% during the forecast period.

The growing adoption of multiple equipment and tools across numerous end-use industries has a positive impact on the tool rental market growth. Industries often experience variations in demand for specific tools and equipment based on project requirements or seasonal fluctuations.

Renting tools enables businesses to be flexible and scalable, as they can easily adjust the rental inventory according to their immediate needs, saving on storage and maintenance costs for unused equipment, hence, creating immense growth opportunities for the tool rental service providers.

Report Attributes Details

Tool Rental Market Size (2022A)

US$ 52.5 Billion

Estimated Market Value (2023E)

US$ 54.7 Billion

Forecast Market Value (2033F)

US$ 82.5 Billion

Global Market Growth Rate (2023-2033)

4.2% CAGR

United States Market Share (2023)


Germany Market Growth Rate (2023-2033)

4.4% CAGR

China Market Growth Rate (2023-2033)

4.5% CAGR

Market Share of Top 3 Countries


Key Companies Profiled

  • Aggreko
  • A-Plant
  • BlueLine Rental
  • HSS Hire
  • Kennards Hire
  • Loxam Group
  • Sunstate Equipment
  • United Rentals

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Historic and Future Growth Outlook

The growing adoption of multiple equipment and tools across various industries creates a favorable environment for the tool rental market. As, owning a wide range of equipment and tools can be costly for businesses, especially smaller enterprises or those with fluctuating demand. Renting tools provides a cost-effective solution, allowing businesses to access the required equipment without the significant upfront investment.

By offering cost-effective, flexible, and technologically advanced solutions, rental companies are likely to meet the evolving needs of businesses across different sectors, driving market growth.

  • Short Term (2023-2026): Increasing popularity of do-it-yourself (DIY) due to the increasing cost of professionals and the high cost of tool ownership is driving the tool rental market.
  • Medium Term (2026-2029): Due to rapid development in the real estate sector, there is a growing need for advanced tools and equipment. As with upgradation in technology, affording every high-tech tool is difficult so the company will prefer tool rentals over having a tool ownership. This is likely to create immense growth opportunities for the market players.
  • Long Term (2029-2033): Many industries witness rapid technological advancements, and keeping up with the latest tools and equipment can be challenging for businesses. By opting for tool rentals, companies can access cutting-edge technology without the burden of purchasing and maintaining expensive equipment, thus, creating growth opportunities for market growth in coming years.

On the back of the aforementioned facts, the tool rental market is expected to grow at a CAGR of 4.2% during the forecast period from 2023-2033, According to the Fact.MR, a market research and competitive intelligence provider

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

Market share analysis of tool rental based on the product type and region is provided in a nutshell in the above image. Under the product type segment, the power tool sub-segment is expected to dominate with a 28.3% market share in 2023.

Market Dynamics Overview

“Growing Trend of DIY to Drive Tool Rental Market Growth”

The increase in popularity of Do-It-Yourself (DIY) projects is contributing to the rise in the market growth of tool rental. More and more people are choosing to do their own home improvement projects, rather than hiring a contractor. This is due to a number of factors, including the rising cost of labor, the availability of easy-to-follow DIY tutorials online, and the sense of accomplishment that comes from completing a project oneself.

Tool rental companies are benefiting from this trend by offering a convenient and affordable way for DIYers to get the tools they need. Tool rental companies typically have a wide variety of tools available, including power tools, hand tools, and safety equipment. They also offer delivery and pickup services, so DIYers can get the tools they need without having to worry about storing them. The growth of the DIY market is expected to continue in the coming years, which is likely to drive the tool rental market.

“Factors Affecting Tool Rental Market Growth”

The market growth for tool rental is restrained by a number of factors, including the rise of the sharing economy, the economic downturn, and the availability of new tool kits. The rise of the sharing economy has made it easier and more convenient for people to rent tools from individuals, often for a lower price than tool rental companies.

Further, starting a rental tools business requires a significant initial investment in acquiring a diverse inventory of tools and equipment. The cost of purchasing and maintaining a range of tools is a barrier for entrepreneurs looking to enter the rental market, limiting competition and market growth.

Intense price competition among rental companies leads to compressed profit margins. As the number of rental providers increases, companies have to lower their rental rates to attract customers, resulting in reduced profitability for the overall market.

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Country-Wise Insights

What Factors are Driving Tool Rentals Market in the U.S.?

The demand for tool rental in the USA is increasing due to the growing demand across various industries and sectors. The demand for tool rental is increasing as it caters to the diverse needs of professionals, contractors, DIY enthusiasts, and businesses. From construction and renovation projects to event planning and landscaping, tool rental provides a convenient solution for accessing specialized equipment tailored to specific applications.

The United States tool rental market is expected to grow at a rate of 4.4% during the forecast period.

Why Chinese Tool Rental Market is Highly Lucrative?

China is undergoing significant urbanization and infrastructure development, leading to a high demand for construction and related tools. Rental tools provide a cost-effective solution for construction companies and contractors to access a wide range of equipment necessary for infrastructure projects, such as excavators, concrete mixers, scaffolding, and power tools.

Renting tools is often more cost-effective than purchasing them outright, especially for smaller businesses or individuals with limited budgets. By opting for rental tools, users can save on upfront costs, maintenance expenses, and storage costs, making it an attractive option for cost-conscious consumers and businesses, thus driving the tool rental market growth across China.

China is expected to continue to grow from 2023 to 2033 with a market size of US$ 16.4 billion and may witness a CAGR of 4.5%. It is expected that it will create an absolute dollar opportunity of US$ 5.8 billion.

Categories-wise Insights

How does Growing Demand for the Material Handling Equipment Drives Tool Rental Market Growth?

With the growing demand for material handling equipment, tool rental service providers witnessing high demand for various machinery and tools including forklifts.

Forklifts are expensive to purchase, operate, and maintain. By opting for forklift rentals, businesses avoid the high upfront costs of purchasing new equipment, as well as the ongoing expenses associated with maintenance, repairs, and storage. Renting forklifts offers a cost-effective solution, allowing businesses to allocate their resources more efficiently.

Forklift rental provides businesses with flexibility and scalability. Companies experience fluctuations in their material handling needs due to seasonal demands, project variations, or unexpected growth. Renting forklifts allows businesses to quickly adjust their equipment fleet to match the specific requirements, without the long-term commitment of ownership.

How Growing Oil and Gas, Mining, and Energy Drives Tool Rental Market Growth?

The oil and gas, mining, and energy industries require a wide range of specialized equipment and tools to carry out their operations efficiently and safely. These industries often require drilling equipment, pumps, generators, compressors, specialized tools for maintenance and repairs, and other machinery. Tool rental companies meet these specific equipment needs by providing a diverse inventory of tools and equipment tailored to these industries.

The oil and gas, mining, and energy sectors involve significant capital investments in infrastructure and equipment. By opting for tool rentals, companies reduce their upfront capital expenditures. Instead of purchasing expensive equipment, they rent the necessary tools on a project basis, allowing them to allocate capital resources more efficiently.

These industries often experience fluctuating demand based on project timelines, exploration activities, or market conditions. Renting tools offers operational flexibility, as companies easily scale their equipment inventory up or down to meet changing demands. They rent additional equipment during peak periods or return tools during downtime, optimizing their operational efficiency.

Know thy Competitors

Competitive landscape highlights only certain players
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Competitive Landscape

Prominent tool rental service providers are Aggreko, A-Plant, BlueLine Rental, Boels Rental, Cramo, Europcar Group, Herc Rentals, HSS Hire, Kennards Hire, Loxam Group, Riwal, Speedy Hire, Sunbelt Rentals, Sunstate Equipment, and United Rentals.

Tool rental service providers in order to attract customers and meet their varied needs, tool rental service providers maintain a diverse inventory of tools and equipment. They ensure they have a wide range of options available, from basic hand tools to specialized machinery, to cater to different industries and applications. Additionally, they regularly update their inventory with the latest models and technologically advanced equipment to offer customers the most up-to-date tools.

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

Segmentation of Tool Rental Industry Research

  • By Type :

    • Power Tools
      • Drills
      • Saws (circular saws, reciprocating saws, jigsaws)
      • Sanders (orbital sanders, belt sanders)
      • Grinders (angle grinders, bench grinders)
      • Nail guns
      • Impact wrenches
      • Power screwdrivers
      • Heat guns
    • Hand Tools
      • Hammers
      • Screwdrivers
      • Wrenches (adjustable wrenches, socket wrenches)
      • Pliers (needle-nose pliers, locking pliers)
      • Chisels
      • Clamps
      • Levels
      • Measuring tapes
    • Construction Equipment
      • Excavators
      • Loaders
      • Bulldozers
      • Concrete mixers
      • Compactors
      • Trenchers
    • Garden and Landscaping Tool
      • Lawn mowers
      • Hedge trimmers
      • Chainsaws
      • Leaf blowers
      • Brush cutters
      • Tillers
      • Aerators
      • Sprayers
    • Material Handling Equipment
      • Forklifts
      • Pallet jacks
      • Hand trucks
      • Dollies
      • Lifting equipment
      • Hoists
    • Plumbing and Pipe Tools
      • Pipe cutters
      • Pipe threaders
      • Drain cleaners
      • Pipe wrenches
      • Pipe benders
      • Soldering equipment
    • Electrical Tools
      • Multimeters
      • Wire strippers
      • Cable pullers
      • Conduit benders
      • Voltage testers
      • Crimping tools
    • Others
  • By End User :

    • Construction and Infrastructure
    • Manufacturing and Industrial
    • Oil and Gas, Mining, and Energy
    • Landscaping and Outdoor Maintenance
    • Agriculture and Farming
    • Transportation and Logistics
    • Home Improvement and DIY
    • Municipal and Government Projects
    • Telecommunications and Network Infrastructure
    • Utilities and Power Generation
    • Others
  • By Rental Type :

    • Period Rental
    • Rent to Own
    • On-Demand Rental
  • By Sales Channel :

    • Rental Center (Stores)
    • Online Rentals
  • By Region :

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

- FAQs -

What is the Market Size of the Global Tool Rental Market?

The tool rental market is expected to grow from US$ 54.7 billion in 2023 to US$ 82.5 billion in 2033 at a rate of 4.2%.

Which Product Type Holds a Prominent Share in the Tool Rental Market?

By product type, power tool is estimated to hold a prominent share of the tool rental market accounting for 28.3% in 2023.

Which End Use has a Significant Share in the Tool Rental Market?

Construction and infrastructure end-use is expected to hold a significant position in the tool rental market accounting for 33.2% market share in 2023.

What is the Expected Growth Rate of the Chinese Tool Rental Market?

The Chinese tool rental market is expected to grow at a CAGR of 4.5% during the forecast period and reach a valuation of US$ 16.4 billion in 2033.

What is the valuation of the U.S. Tool Rental Market?

The U.S. tool rental market is likely to grow at a CAGR of 4.4% during the forecast period to reach a valuation of US$ 20.8 billion in 2033 from a valuation of US$ 13.5 billion in 2023.

- Also of Interest -

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Portable Tools Market Analysis Report By Category (Hand Tools, Power Tools, Garage Tools, Lighting Tools), By Sales Channel (Distributor, Retail, Online Sales), By End Use, By Region - Global Insights 2022-2032

Tool Rental Market

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