Vertical: PCMBase Year: 202212 Sections
Market Size (2022)
—
Projected (2030)
—
CAGR (2018–2030)
N/A
Key Players
10+
The construction equipment rental market is a service industry that provides machinery and equipment to construction contractors and other businesses for a limited period of time. The construction equipment rental market is driven by several factors. Firstly, the increasing complexity and scale of construction projects, coupled with the need for specialized equipment, have led to a growing demand for rental services. Renting construction equipment offers flexibility, cost-effectiveness, and access to the latest technology without the need for significant upfront investments. The construction equipment rental market is also driven by the rise of infrastructure development and construction activities worldwide. Emerging economies, particularly in China and the Middle East, are witnessing rapid urbanization and infrastructure projects, fueling the demand for rental equipment. Furthermore, the increasing emphasis on sustainable construction practices and the need for specialized equipment for green building projects contribute to market growth. Moreover, Challenges in the construction equipment rental market include intense competition among rental companies and the need to ensure equipment safety and maintenance. Rental companies must differentiate themselves by providing excellent customer service, a wide range of equipment options, and timely delivery. The global construction equipment rental market is segmented by type, application and region.
Based on type, the global construction equipment rental market has been segmented into earth moving, material handling, heavy vehicles, and concrete & road construction. In 2022, the earth moving segment drove the global construction equipment rental market by holding a substantial market share with a market value of USD 45,049.7 million. It is projected to register a 4.4% CAGR during the projected timeframe.
Based on application, the global construction equipment rental market has been segmented into residential, infrastructure, oil and gas, mining, manufacturing, municipal and government projects, transportation and logistics, agriculture, forestry, entertainment sector, and commercial space. in 2022, transportation and logistics and residential segments led the market with a substantial market share. The target segments are projected to offer a total incremental opportunity of USD 17,333.7 Mn during the forecast period.
Based on region, the global construction equipment rental market has been segmented into North America, Europe, China, Middle East, Africa, and South America. The China and North America regions are anticipated to drive the global construction equipment rental market throughout the forecast period. The target region is anticipated to offer a total incremental opportunity of USD 22,564.6 Million by the end of 2030.
Construction Equipment Rental Market is a key focus area for market intelligence and strategic research.
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansThe construction equipment rental market pertains to the sector within the industry that offers temporary leasing services of construction machinery, equipment and vehicles to contractors, construction companies, builders, and individuals. It encompasses the business operations involved in providing a diverse range of construction equipment for rent, catering to the specific requirements of various construction projects and associated endeavours. Moreover, the construction equipment rental market serves a wide range of customers, including contractors, subcontractors, construction companies, infrastructure development firms, event management companies, and individuals undertaking home improvement projects. The rental services cater to different sectors including residential, commercial, industrial, infrastructure, mining, oil & gas, agriculture, entertainment, forestry and others.
Furthermore, the construction equipment rental market offers a practical and economically viable solution for stakeholders in the construction industry to obtain a diverse array of equipment for their projects. This enables them to streamline resource utilization, mitigate initial expenses, and concentrate on the efficient execution of their projects.
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2022
Historical Period
2018 – 2021
Forecast Period
2023 – 2030
Primary Interviews
150+
Historical data (2018–2022) and forecast period (2022–2030)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
The key players operating in the global construction equipment rental market include United Rentals, Inc., Herc Rentals Inc., Ashtead Group Plc, Aktio Corporation, Kanamoto Co., Ltd., Nishio Rent All Co., Ltd, H&E Equipment Services, Inc, Nikken Corporation, Cramo Group, Ramirent Plc, among others. Companies such as United Rentals, Inc., Ashtead Group Plc, H&E Equipment Services, Inc, Herc Rentals Inc., dominate the market due to brand reputation, product differentiation, financial stability, and diversified regional presence.
The global construction equipment rental market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive, with all the players continually competing to gain a larger market share. High competition and rapid advancements in service offerings are some of the critical factors that could restrain the market growth. The vendors compete based on cost, service quality, and reliability. It is crucial for vendors to provide cost-effective and efficient Services to survive and succeed in a competitive market environment. The market is highly dynamic, fragmented, and competitive due to the presence of several international, regional, and local players that offer a comprehensive range of construction equipment rental machinery. The players are focused on investing in research and development and adopting strategic growth initiatives such as investments, mergers and acquisitions, product launches, and expansions to strengthen their market position and capture a large customer base.
Some key players are highly engaged in strategic mergers, acquisitions, and collaborative partnerships as a part of their inorganic growth strategy to increase sales and profit margins. Also, many companies are investing considerable resources in R&D activities to develop innovative Services. Strategic acquisitions continue to be an important competitive strategy for key players to expand their product offerings, access new technology, or expand their market share. Thus, vendors in the market are catering to the demand for construction equipment rental services, developing innovative services, reducing service costs, and expanding their customer base to ensure a sustainable presence in the market. Vendors are actively developing advance services to tap the tremendous growth potential in the market.
Threat Of New Entrants
New entrants that are trying to enter the market will be required to meet the high capital requirements in setting up a highly technologically advanced facility. The high cost of R&D due to the focus on manufacturing technologically advanced construction equipment also acts as an entry barrier for the new players in the market. In addition, the high cost of leasing the equipment from the service providers will also pose a threat for new entrants, as end-users rent the equipment from the global players who have a well-established brand name and huge distribution network. However, as operations extensively use construction equipment rental for various purposes including agriculture, residential, infrastructure, oil & gas, mining, manufacturing, forestry, entertainment sector, commercial space, municipal & government project, transportation & logistics, and others, the market is expected to witness significant growth. This leads to an increase in the number of players and easy entry for new market players. Additionally, the government regulations pertaining to the safety of the workers along with the need for skilled labor have further minimized the threat of new entrants in the market. Therefore, the threat of new entrants from the existing industry participants in the market is low.
Bargaining Power Of Suppliers
Suppliers included in the construction equipment rental market are the raw material, component, and equipment suppliers. The switching cost is moderate as large and medium-scale key players tend to enter long-term contracts with suppliers to ensure an uninterrupted supply of the required materials, components, and equipment. As suppliers offer high-quality equipment and components at reasonable prices, the cost of switching suppliers will be moderate due to the low differentiation of raw materials and components, consequently limiting the bargaining power of suppliers. The concentration of suppliers for construction equipment rental globally is high. The high concentration of raw material and component suppliers who make their products available to the construction equipment rental service providers is expected to increase further over the forecast period, lowering their bargaining power. In addition, the wide scope of application of these raw materials further increases the supplier power. Therefore, the bargaining power of suppliers in the construction equipment rental market is expected to be moderate during the forecast period.
Bargaining Power Of Buyers
The bargaining power of buyers in the construction equipment rental market is expected to be low. The market has a significant number of buyers, primarily from the construction, material handling, and mining industries. There are a high number of buyers in the region who rely on successful and established companies that provide construction equipment rental. Furthermore, brand recognition has a significant impact on the purchasing decisions of the buyers. The end-use applications of the construction equipment rental are expected to increase, making the buyer concentration high and lowering their bargaining power. The switching cost of these buyers is moderate.
Threat Of Substitutes
The treat of substitutes refers to the effect of substitute products on the construction equipment rental market. Currently, there are no direct substitutes for construction equipment rental in the market. Moreover, the price differentiation of products manufactured by different companies is moderate. Thus, the threat of substitutes in the market is expected to be low during the forecast period.
Rivalry
There is high competition among the existing players in the construction equipment rental market, with the vendors investing extensively in providing construction equipment rental. Almost every company in the market has been focusing on providing technologically advanced products at competitive prices. Moreover, due to the increase in the number of construction and mining projects globally, the rivalry for gaining a larger market share is expected to increase. The players adopt various strategies, such as product development and expansion, to strengthen their positions in the global construction equipment rental market. Hence, the intensity of rivalry in the construction equipment rental market is expected to be high during the forecast period.
See plans for professionals or small and medium businesses.
Analytical insights on Construction Equipment Rental Market covering market dynamics, competitive landscape, and strategic outlook.
Construction Equipment Rental Market represents a significant market opportunity with multiple growth drivers across regions and segments.
The construction equipment rental market growth is expected to be driven by key factors such as proliferating construction industry and shifting trend towards rental services. However, factors such as the high vulnerability of the construction sector to economic recession are expected to restrict the market growth. On the other hand, factors such as Increasing government spending in construction industry and rising number of infrastructure projects worldwide poses lucrative opportunities for the construction equipment rental market during the forecast period.
The increasing construction industry globally will rise the market demand for construction equipment rental during the forecast period. According to the recent report published by Construction Products Association (CPA) in May 2022, the construction output rises by 2.8% in 2022 and expected to rise by 2.2% in 2023 and Infrastructure output has increased by 8.8% in 2022 and is expected to rise by 4.6% in 2023. This will increase the demand for more construction equipment in the industry. Hence, increase the need for rental equipment over the projected timeline. Modern Construction equipment plays a vital role in the construction industry where business objectives are strictly time and margin driven. The modern construction equipment is very swift and reliable with high-quality control measures embedded into them as they have evolved over the years. One of the main reasons construction companies rent construction equipment is to keep expenses low. Renting a piece of heavy equipment costs significantly less than buying that equipment outright. The reduced cost of equipment rental means companies can get the machinery they need without compromising on the features that matter. In addition, new construction equipment often features built-in technology to improve safety, performance, and efficiency.
This technology helps operators’ complete tasks faster and with less effort. The high price of new machinery pushes these improvements out of reach for many construction teams and contractors. However, rental companies increase the accessibility of the latest construction technology by making it available on a temporary, affordable basis. Such factors will further boost the adoption of rental equipment over the forecast period.
In line with this, the increasing government investments and spending for their regional construction sector will further boost the market growth. For instance, in 2022, the Italian government is expected to undertake several infrastructure construction projects across different areas, including roads, ports, railways, and water projects. In H1 2022, the country also commenced construction activities on some of the projects. In addition, in February 2021 the South Korean government unveiled a plan to build approximately 830,000 houses over the next four years, with 323,000 new houses being built in Seoul and 293,000 in nearby Gyeonggi Province and Incheon. Additionally, the ministry also announced a plan to add over 220,000 new houses by 2025 in major cities such as Busan, Daegu, and Daejeon, where housing affordability continues to deteriorate. This will rise the demand for more construction equipment rental during the forecast period.
The increasing government spending on construction projects in developing and developed countries will bring new opportunities for the construction equipment rental market growth over the forecasted timeline. For instance, in 2022, the European government announced to invest around EUR 460 million in its regional construction industry. The government spend 53% more in 2022 as compared to 2021. This funding will help to construct various residential and commercial buildings, flyovers, bridges, and roads. In addition, authorities in the regions such as North America, have observed increased spending on private construction activities, especially in the US. According to the Federal Reserve Bank of St. Louis, the total construction spending in the US increased by approximately 7.8% in January 2020 as compared to that of January 2019. Furthermore, in December 2022, the Indian government also announced a funding of approximately USD 1.6 trillion in the regional construction projects. Such factors will help the construction equipment rental market to grow exponentially during the forecast period.
Moreover, several government authorities are also doing various partnership projects to increase their investment in the construction sector. For instance, in February 2022, government of France announced a partnership with China to build several seven key infrastructure projects globally. France and China will jointly build USD 1.7 billion worth of seven key infrastructure projects across Southeast Asia, Africa, and Eastern Europe. Thus, the support from the government for construction has led to the increased demand for construction equipment rental globally.
The current financial and economic crisis has affected many sectors, and the construction sector. The construction industry is an essential component of the global economy, providing employment and infrastructure for societies around the world. However, like many other sectors, it has been hit hard by the economic recession that began early in 2022 and by the ongoing political tensions and conflicts around the world. The recession that began in 2022 has had a profound effect on the construction industry, with many projects canceled or delayed because of reduced demand and financing difficulties. As the global economy struggles to recover, the construction industry also faces increased competition from emerging markets and a shift towards more sustainable building practices. While the industry has shown signs of recovery since the pandemic, it continues to face challenges such as rising material costs and a shortage of skilled labor. These factors will negatively affect the construction equipment rental market growth during the forecast period. However, despite these challenges, the construction industry has shown resilience and adaptability in the face of adversity. Companies have sought to diversify their operations, explore new markets, and embrace new technologies to remain competitive.
In addition, the industry has recognized the importance of sustainability. It has begun to embrace more eco-friendly practices, such as the use of renewable energy sources and the adoption of green building standards. This will somehow positively affect the construction equipment rental market growth in the next coming years.
Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.
Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.
Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.
Profiles of 100 companies operating in the Construction Equipment Rental Market market, including revenue, employee count, and market positioning where available.
Showing 100 of 100 companies
Company Headquarters: Los Angeles, United States Founded: 1961 Workforce: ~ 2,157 Company Working: H&E Equipment Services Inc (H&E Equipment) is an integrated equipment company that provides rentals and sales services. The company rents, sells and provides parts and service support for new and used earthmoving equipment, material handling, forestry, concrete, industrial and heavy equipment. It offers rental equipment such as hi-lift and aerial platform equipment, cranes, light towers, industrial and material lifts, bulldozers and cement mixers generators, among others. H&E Equipment offers services such as fleet maintenance, remanufacturing, structural repair and operator and safety training, among others. The Equipment Rentals segment rents construction and industrial equipment. The New Equipment Sales segment sells new equipment in product categories. The Used Equipment Sales segment offers rental fleet and inventoried equipment that are acquired through trade-ins with its equipment customers and through purchases of high quality used equipment. The company operates through its offices in Alabama, Arizona, Arkansas, California, Colorado, Florida and other states in the US. H&E Equipment is headquartered in Baton Rouge, Louisiana, the US.
Company Headquarters: Osaka, Japan Founded: 1959 Workforce: ~ 4,463 Company Working: Nishio Rent All Co Ltd (Nishio) is a provider of equipment rental services. It offers rentals and uses sales equipment for civil and road construction, civil work, and large scale projects; plant maintenance and building works; and events and exhibitions. The company designs, fabricates, installs, and operates muddy wastewater treatment equipment and contaminated soil remediation systems. Nishio manufactures, rents, and sells battery motorized vehicles for tunnel and inside premises works. The company offers different forklifts, aerial platforms, work platforms, tower cranes, and maintenance equipment. It also rents equipment for exhibitions and equipment & materials for outdoor events. Furthermore, it also sells various parts and equipment; and provides inspection and onsite repair services for large-scale projects. The company also sells, rents, and installs sports flooring material produced by Connor Sport Court. The company offers its solutions and services through 416 rental operation divisions and 55 franchise operation chain stores in Japan. The company has a presence in Australia, China, Indonesia, Malaysia, Philippines, Vietnam, Singapore, Thailand, and Other countries. Nishio is headquartered in Osaka, Osaka, Japan.
Company Headquarters: London, United Kingdom Founded: 1947 Workforce: ~ 22,807 Company Working: Ashtead Group plc is a U.K.-based provider of equipment rental services. The company rents an entire range of industrial and construction equipment to a diverse customer base for numerous applications. It offers rental industrial equipment to clients such as construction firms, government agencies, homeowners, broadcasters, and railroads. Ashtead Group PLC engages in equipment rental services. It offers a full range of construction and industrial equipment used in lift, power, generate, move, dig, compact, drill, support, scrub, pump, direct, heat, and ventilated operations. It operates through the following segments: Sunbelt, A-Plant, and Corporate Items. The company also offers equipment tracking with the help of mobile tracking systems. Ashtead Group plc primarily operates in the U.S., Canada, and U.K. It operates under brands Sunbelt Rentals in North America, which includes 811 stores in 46 states and Canada, and A-Plant in the U.K., which includes 197 stores across England, Scotland, and Wales. The U.S. continues to be the biggest and fastest growing market as it is potentially five times bigger than the U.K. market. The company operates through three business segments: Sunbelt US, Sunbelt UK, and Sunbelt Canada. As of April 2022, the company had 1,233 rental stores, more than 900,000 rental assets and 800,000 customers.
Company Headquarters: Florida, United States Founded: 1965 Workforce: ~ 4,800 Company Working: Herc Rentals Inc. is a premier, full-service equipment rental firm that provides their customers the equipment, services and solutions they need to achieve optimal performance safely, efficiently and effectively. The company has than 50 years of equipment rental expertise, approximately 4,800 employees and approximately 275 company-operated locations primarily in the United States and Canada. The company offers rental equipment such as aerial equipment, concrete and masonry equipment, air equipment, electrical tools and equipment, earthmoving equipment, lawn and garden equipment, safety equipment, material handling equipment, general equipment, and specialty equipment. Herc Rentals serves a broad range of customer markets, including large and small companies in construction; industrial customers such as large industrial manufacturing plants, refineries and petrochemical operations; and other customers such as governmental entities and government contractors, disaster recovery and remediation firms, infrastructure, railroads , utility operators, individual homeowners, entertainment production companies, agricultural producers, special event management and facility management firms. The company is also engaged in the sales of new as well as used equipment. It operates in the U.S., Canada, and other countries globally. Market presence in 39 states in the United States and 8 provinces in Canada. Herc Rentals Inc. officially separated from Hertz Global Holdings in July 2016.
Company Headquarters: Helsinki, Finland Founded: 1955 Workforce: ~ 3,700 Company Working: Ramirent is one of the leading service companies offering equipment on a rental basis for construction and other industries. It is engaged in the business of renting construction machinery and equipment in Sweden, Finland, Denmark, Norway, Estonia, Latvia, Poland, the Czech Republic, Lithuania, and Slovakia. The company offers light machinery, including painting and drilling, concrete mixing, and power & heating systems. It is also engaged in providing planning, electricity, installation, and maintenance services. It offers support equipment, along with weather covers, fences and gates, guard rails, fall safety systems, fall protection, and other traffic safety equipment. Moreover, the company also provides heavy equipment and machinery such as loaders, excavators, rollers and compaction equipment, and pumping equipment. It also offers lifts, climbing platforms, tower cranes, and personnel hoists, among others. Additionally, the company provides worksite planning, on-site support, condition monitoring, logistics, safety planning, fuel services, and training services. In addition to the construction industry, it serves shipyards, public sector, entrepreneurs, and households. The company specializes in offering machine rental, equipment rental, and dynamic rental solutions.
Company Headquarters: Vantaa, Finland Founded: 1953 Workforce: ~ 2,589 Company Working: Cramo Plc (Cramo), is a construction equipment rental service provider. The company offers construction machinery and equipment, hoist, transmission and rack equipment, warehouse and pallet trucks, excavation machinery, loaders, and safety products. It provides work platforms, forklift trucks, scaffolding, modular space, dumpers, demolition robots, rollers for soil and asphalt compaction, generators, and drill rigs, among others. Cramo positions itself as a full-service provider, offering not only equipment rental but also related services. These services include equipment delivery and pickup, maintenance and repairs, on-site training, and logistics support. By providing comprehensive services, Cramo aims to offer a hassle-free rental experience for its customers. Cramo offers services such as construction site services, business support, modular space customer support, and modular space facilities management. Cramo Group operates across multiple countries, primarily in Northern and Eastern Europe. The company has a strong presence in Finland, Sweden, Norway, Denmark, Estonia, Lithuania, Poland, and the Czech Republic. Cramo has an extensive network of rental depots and branches to serve its customers' equipment needs in these regions.
Powering the world's best teams.
From next-gen startups to established enterprises.
Trusted by forward-thinking businesses
for data-driven intelligence
Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Historical performance and future projections (2020–2030, USD Billion)
