Construction Equipment Rental Market Anticipated to Grow at 5.5 CAGR Through 2029: Industry Report

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The Business Research Company’s Construction Equipment Rental Global Market Report 2025 - Market Size, Trends, And Global Forecast 2025-2034

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How Big Is The Construction Equipment Rental Market In 2025?
There has been a consistent expansion in the construction equipment rental market over the past few years. The market size, which was at $105.1 billion in 2024, is projected to increase to $109.81 billion in 2025 with a compound annual growth rate (CAGR) of 4.5%. The growth during the historic period resulted from a rise in demand for construction projects, a heightened need for cost optimization and efficiency in construction tasks, tougher competition among construction firms and equipment producers, along with an increasing demand for rental equipment due to the cyclical pattern of the construction sector.

Expectations are high for a substantial surge in the construction equipment rental market size in the coming years, with a projected increase to $136.02 billion in 2029 and a compound annual growth rate (CAGR) of 5.5%. Growth predictors for this period include increased reliance on rental equipment across diverse industries, surging demand for eco-friendly and sustainable construction equipment, and a rising preference for operational and financial flexibility. Businesses are also recognising the value of conserving capital, and there's an upswing in the use of IoT and telematics in construction equipment rental. Upcoming trends for the forecast period encompass technological and logistic infrastructure advancements, strategic alliances between rental companies and technology providers in construction, use of cutting-edge rental software for effective fleet management, technological improvements in construction equipment, and the rise of digital platforms facilitating equipment rental transactions.

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What Are The Key Driving Factors For The Growth Of The Construction Equipment Rental Market?
The uptrend in the construction industry is perceived to be a significant booster for the expansion of the construction equipment rental market. Urbanization, oncoming infrastructural tasks, and an expanding population base are a few reasons contributing to the growth of the construction industry. Assorted construction tools such as tower cranes, bulk material handling, transit mixers, batching plants, concrete pumps, etc., are often hired instead of being bought to decrease acquisition and maintenance fees. For instance, Eurostat, a government organization based in Luxembourg, reported in February 2024 that the average annual building production in the EU and the euro region underwent a 0.1% and 0.2% increase respectively in comparison to 2022. Furthermore, data from the United States Census Bureau, a US government agency, in December 2021 shows that the cost of construction activities has seen a surge, moving from $1,626.4 billion in 2021 to $1,792.9 billion in 2022, marking a 10.2% rise. Hence, the thriving construction sector is fueling the growth in the construction equipment rental market.

Who Are The Key Players In The Construction Equipment Rental Industry?
Major players in the Construction Equipment Rental include:
• H&E Equipment Services Inc.
• Maxim Crane Works LLP
• Boels Rentals NV
• United Rentals Inc.
• Ashtead Group plc
• Loxam Group
• Herc Holdings Inc.
• Aktio Corporation
• Kanamoto Co Ltd.
• Taiyokenki Rental Co. Ltd.

What Are The Upcoming Trends Of Construction Equipment Rental Market In The Globe?
The trend of substituting traditional apparatus with machines enhanced with telematics is gaining traction in the construction equipment industry. These telematics are incorporated into the machinery to aid in GPS fleet monitoring, optimizing fleet usage, protection against theft, enhancing billing processes, and effective resource utilization, among other things. For instance, in February 2022, Hitachi Construction Machinery, a Japanese construction equipment manufacturer, introduced a telematics system specifically crafted for mixed construction equipment fleets. This system, named CTFleet Link, allows customers to monitor the whereabouts and performance of their Hitachi and other non-Hitachi machines through real-time web access. The CTFleet Link system employs a tailored API from Hitachi Construction Machinery along with the Hitachi Application Programming Interface (API) from Global E Service, facilitating almost real-time data collection.

What Segments Are Covered In The Construction Equipment Rental Market Report?
The construction equipment rentalmarket covered in this report is segmented –

1) By Equipment: Earthmoving, Material Handling, Road Building And Concrete
2) By Product: Backhoes, Excavators, Loaders, Crawler Dozers, Cranes, Concrete Pumps, Compactors, Transit Mixers, Concrete Mixers
3) By Application: Residential, Commercial, Industrial

Subsegments:
1) By Earthmoving: Excavators, Bulldozers, Backhoe Loaders, Skid Steer Loaders
2) By Material Handling: Forklifts, Telehandlers, Aerial Lifts, Cranes
3) By Road Building And Concrete: Asphalt Pavers, Concrete Mixers, Road Rollers, Concrete Pumps

View the full construction equipment rental market report:
https://www.thebusinessresearchcompany.com/report/construction-equipment-rental-global-market-report

Which Region Is Expected To Lead The Construction Equipment Rental Market By 2025?
In 2024, North America held the leading position in the Construction Equipment Rental market. The region predicted to experience the most rapid growth is Asia-Pacific. The report addressing this market encompasses several regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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