Global Construction Equipment Rental Market is valued at approximately USD 112.2 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.16% over the forecast period 2023-2030. Construction equipment rental refers to the practice of leasing or renting construction machinery and equipment for a specified period, typically on a short-term basis, to contractors, construction companies, or individuals involved in construction projects. It offers a flexible and cost-effective solution, allowing users to access a wide range of equipment without the need for substantial upfront investments. Rental providers take care of equipment maintenance and service, while customers benefit from increased flexibility, scalability, reduced maintenance costs, and access to the latest technology and specialized machinery tailored to their project needs. The driving factors boosting the market growth are increasing infrastructure investment and the adoption of rental culture.
Increasing infrastructure investment is set to boost the construction rental equipment market, as more funds are allocated to infrastructure projects, driving the demand for construction equipment. Rental equipment providers will benefit from the growing need for flexible and cost-effective equipment solutions, supporting construction companies and contractors in their project requirements. According to Statista, global infrastructure spending is expected to reach USD 9 trillion per year by 2025, driving the demand for construction equipment rental services. The adoption of rental culture and changing attitudes towards equipment ownership have contributed to the growth of the construction equipment rental market. Contractors and construction companies are increasingly recognizing the benefits of renting equipment and are integrating rental solutions into their business strategies. Moreover, technological advancements in construction equipment and the growing trend for long-term rental contracts are expected to create abundant opportunities. However, the high cost of renting construction equipment and the shortage of skilled operators stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Construction Equipment Rental Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 due to developed infrastructure, large-scale construction projects, strong economy and construction sector and the presence of prominent construction equipment manufacturers. Asia Pacific is expected to become the fastest growing during the forecast period, owing to factors such as rapid urbanization and infrastructure development, emerging economies such as India and China that are investing heavily in infrastructure projects, and a growing focus on sustainable construction practices.
Major market player included in this report are:
- Herc Rentals, Inc.
- H&E Equipment Services Inc.
- United Rentals Inc.
- Ashtead Group PLC
- Sumitomo Corp.
- Hitachi Construction Machinery Co. Ltd. (Hitachi Group)
- Liebherr International AG
- Kanamoto Co. Ltd
- HSS Hire Group PLC
- Nishio Rent All Co. Ltd.
Recent Developments in the Market:
- In December 2022, Dubai-based online crane rental service, MyCrane, established its own operations in the United States instead of opting for franchisees, as it has done in other regions. This decision reflects the company's strategic approach to directly oversee its operations in the US market.
- In December 2022, Maxim Crane Works L.P., a leading rental giant in the US, introduced Maxim MarketplaceTM, an innovative online platform for selling used equipment. Developed in collaboration with Krank, the industry's first software developer, Maxim MarketplaceTM offers a user-friendly interface to showcase and sell the company's extensive fleet-owned cranes and support equipment, enabling the rental giant to efficiently refresh its fleet through this cutting-edge online sales platform.
Global Construction Equipment Rental Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Vehicle Type, Drive Type, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Vehicle Type:
- Earth Moving Equipment
- Material Handling Equipment
By Drive Type:
By Region:
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Construction Equipment Rental Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Construction Equipment Rental Market, by Vehicle Type, 2020-2030 (USD Billion)
- 1.2.3. Construction Equipment Rental Market, by Drive Type, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Construction Equipment Rental Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Construction Equipment Rental Market Dynamics
- 3.1. Construction Equipment Rental Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing infrastructure investment
- 3.1.1.2. Adoption of Rental Culture
- 3.1.2. Market Challenges
- 3.1.2.1. High Cost of renting construction equipment
- 3.1.2.2. Shortage of Skilled Operators
- 3.1.3. Market Opportunities
- 3.1.3.1. Technological advancements in construction equipment
- 3.1.3.2. Growing trend for long-term rental contracts
Chapter 4. Global Construction Equipment Rental Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Construction Equipment Rental Market, by Vehicle Type
- 5.1. Market Snapshot
- 5.2. Global Construction Equipment Rental Market by Vehicle Type, Performance - Potential Analysis
- 5.3. Global Construction Equipment Rental Market Estimates & Forecasts by Vehicle Type 2020-2030 (USD Billion)
- 5.4. Construction Equipment Rental Market, Sub Segment Analysis
- 5.4.1. Earth Moving Equipment
- 5.4.2. Material Handling Equipment
Chapter 6. Global Construction Equipment Rental Market, by Drive Type
- 6.1. Market Snapshot
- 6.2. Global Construction Equipment Rental Market by Drive Type, Performance - Potential Analysis
- 6.3. Global Construction Equipment Rental Market Estimates & Forecasts by Drive Type 2020-2030 (USD Billion)
- 6.4. Construction Equipment Rental Market, Sub Segment Analysis
- 6.4.1. IC Engine
- 6.4.2. Hybrid Drive
Chapter 7. Global Construction Equipment Rental Market, Regional Analysis
- 7.1. Top Leading Countries
- 7.2. Top Emerging Countries
- 7.3. Construction Equipment Rental Market, Regional Market Snapshot
- 7.4. North America Construction Equipment Rental Market
- 7.4.1. U.S. Construction Equipment Rental Market
- 7.4.1.1. Vehicle Type breakdown estimates & forecasts, 2020-2030
- 7.4.1.2. Drive Type breakdown estimates & forecasts, 2020-2030
- 7.4.2. Canada Construction Equipment Rental Market
- 7.5. Europe Construction Equipment Rental Market Snapshot
- 7.5.1. U.K. Construction Equipment Rental Market
- 7.5.2. Germany Construction Equipment Rental Market
- 7.5.3. France Construction Equipment Rental Market
- 7.5.4. Spain Construction Equipment Rental Market
- 7.5.5. Italy Construction Equipment Rental Market
- 7.5.6. Rest of Europe Construction Equipment Rental Market
- 7.6. Asia-Pacific Construction Equipment Rental Market Snapshot
- 7.6.1. China Construction Equipment Rental Market
- 7.6.2. India Construction Equipment Rental Market
- 7.6.3. Japan Construction Equipment Rental Market
- 7.6.4. Australia Construction Equipment Rental Market
- 7.6.5. South Korea Construction Equipment Rental Market
- 7.6.6. Rest of Asia Pacific Construction Equipment Rental Market
- 7.7. Latin America Construction Equipment Rental Market Snapshot
- 7.7.1. Brazil Construction Equipment Rental Market
- 7.7.2. Mexico Construction Equipment Rental Market
- 7.8. Middle East & Africa Construction Equipment Rental Market
- 7.8.1. Saudi Arabia Construction Equipment Rental Market
- 7.8.2. South Africa Construction Equipment Rental Market
- 7.8.3. Rest of Middle East & Africa Construction Equipment Rental Market
Chapter 8. Competitive Intelligence
- 8.1. Key Company SWOT Analysis
- 8.1.1. Company 1
- 8.1.2. Company 2
- 8.1.3. Company 3
- 8.2. Top Market Strategies
- 8.3. Company Profiles
- 8.3.1. Herc Rentals Inc.
- 8.3.1.1. Key Information
- 8.3.1.2. Overview
- 8.3.1.3. Financial (Subject to Data Availability)
- 8.3.1.4. Product Summary
- 8.3.1.5. Recent Developments
- 8.3.2. H&E Equipment Services Inc.
- 8.3.3. United Rentals Inc.
- 8.3.4. Ashtead Group PLC
- 8.3.5. Sumitomo Corp.
- 8.3.6. Hitachi Construction Machinery Co. Ltd.(Hitachi Group)
- 8.3.7. Liebherr International AG
- 8.3.8. Kanamoto Co. Ltd
- 8.3.9. HSS Hire Group PLC
- 8.3.10. Nishio Rent All Co. Ltd.
Chapter 9. Research Process
- 9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
- 9.2. Research Attributes
- 9.3. Research Assumption