The Construction Equipment Rental Report is Segmented by Equipment Type (Earthmoving Equipment (Backhoe Loaders and More), and More), Drive Type (IC Engine and More), Application (Residential Construction and More), Rental Channel (Offline and Online), Service Type (Short-Term Rental, and More), and Geography (North America and More). The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

Revenue from the global construction equipment rental market is estimated to reach US$ 131.2 billion in 2024. The market has been projected to climb to a value of US$ 201.81 billion by the end of 2034, expanding at a CAGR of 4.4% between 2024 and 2034.

Report Attribute	Detail
Construction Equipment Rental Market Size (2024E)	US$ 131.2 Billion
Forecasted Market Value (2034F)	US$ 201.81 Billion
Global Market Growth Rate (2024 to 2034)	4.4% CAGR
North America Market Share (2024E)	27.6%
East Asia Market Value (2024E)	US$ 26.63 Billion
Earth Moving Machinery Segment Value (2034F)	US$ 110.39 Billion
Residential Construction Segment Value (2034F)	US$ 73.66 Billion
Key Companies Profiled	Titan Machinery Inc.; Associated Equipment Rentals Pvt. Ltd.; HSS ProService Ltd.; Kanamoto Co. Ltd.; United Rentals Inc.; Finning International Inc.; Herc Holdings Inc.; Aktio Corp.; Komatsu Ltd.; Sunstate Equipment Co., LLC; Cramo; Texas First Rentals.

Country-wise Insights

Attribute	United States
Market Value (2024E)	US$ 28.57 Billion
Growth Rate (2024 to 2034)	4.4% CAGR
Projected Value (2034F)	US$ 43.98 Billion

Attribute	Japan
Market Value (2024E)	US$ 5.89 Billion
Growth Rate (2024 to 2034)	4.8% CAGR
Projected Value (2034F)	US$ 9.45 Billion

Category-wise Insights

Attribute	Earth-Moving Machinery
Segment Value (2024E)	US$ 71.64 Billion
Growth Rate (2024 to 2034)	4.4% CAGR
Projected Value (2034F)	US$ 110.39 Billion

Attribute	Commercial Construction
Segment Value (2024E)	US$ 48.41 Billion
Growth Rate (2024 to 2034)	4.3% CAGR
Projected Value (2034F)	US$ 73.66 Billion

The Heavy Equipment Rental industry has grown with rising demand from key downstream markets, including the construction and mining sectors. However, elevated interest rates and a slow-paced commercial construction recovery acted as dampeners. The market leans significantly on the construction industry, as evidenced by United Rentals, where 40.0% of its fleet comprised construction and industrial equipment, contributing 46.0% to its rental revenue. Government spending schemes like the CHIPS Act are expected to add over 100,000 jobs in construction and manufacturing, stimulating demand for heavy machinery and equipment. Rental companies are expanding to include a wider variety of specialized equipment. The aircraft leasing segment experienced a surge as airlines globally have begun switching from owning to leasing aircraft. The resurgence of air travel post-2020 has contributed to a renewed demand for aircraft lessors and the sector's growth. Overall industry revenue will climb at a CAGR of 2.8% to reach $55.5 billion in 2025, including a gain of 1.4% in 2025 alone. Elevated interest rates pose a challenge, but the Federal Reserve cut rates three times in 2024 and hints at further reductions in 2025. Lower interest rates will stimulate more construction activity, pushing growth in the equipment rental sector. This follows a steady recovery in the housing market, with plans to construct nearly 1.1 million homes in 2025, a 13.8% climb from the previous year. Profit has fallen to reach 15.1% of revenue in 2025, as high interest rates and cost pressures constrain profit. Within industry dynamics, acquisitions have been high on the agenda for rental providers as large-scale projects drive the need for rentals. Herc Rentals’ $5.3 billion acquisition of H&E Equipment Services and Sunbelt Rentals' acquisition of 26 rental businesses are examples. Technology upgrades and a regulatory environment that favors larger entities actively define the transformation in the sector. Against this backdrop, the industry stands to gain with a projected gain in crude oil production in 2025-2026, which is expected to strengthen demand for heavy equipment rentals. Industry revenue will climb through the end of 2030, driven by a rebound from vital downstream markets. The Federal Reserve will cut interest rates over the next five years, stimulating demand from the construction and manufacturing markets. Industry revenue will expand at a CAGR of 2.4% to reach $62.4 billion in 2030.

The report covers GCC Heavy Equipment Rental Companies and the market is segmented by vehicle type (earthmoving equipment and material handling), propulsion type (IC engine and hybrid drive), and Country (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates). The report offers the size and forecast for the GCC Construction Equipment/Machinery Rental Market in value (USD) for all the above segments.

Global Construction Equipment Rental market size is expected to reach $136.02 billion by 2029 at 5.5%, booming construction industry fuels growth in equipment rental market

The Market Report Covers Construction Equipment Rental Companies in India and is Segmented by Vehicle Type (Earth Moving Equipment, Material Handling), and by Drive (IC Engine and Hybrid Drive). The Report Offers Market Size and Forecasts in Terms of Value (USD) for all the Above Segments.

The U.S. construction equipment rental market is expected to reach USD 54.17 billion by 2029, growing at a CAGR of 4.73%.

The North America Construction Equipment Rental Market Report is Segmented by Rental Channel (Offline and Online), Machinery Type (Cranes, Excavators, Loaders, Motor Graders, and More), Drive Type (Hydraulic / IC Engine, Hybrid, and More), Application (Building Construction and More), Service Type (Short-Term Rental and More), and Country. The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

Expert industry market research on the Heavy Equipment Rental in the US (2025-2030). Make better business decisions, faster with IBISWorld's industry market research reports, statistics, analysis, data, trends and forecasts.

Snapshot img

Construction Equipment Rental Market Size 2025-2029

The construction equipment rental market size is forecast to increase by USD 39.95 billion, at a CAGR of 5.9% between 2024 and 2029.

The market is experiencing significant growth, driven by increased investment in infrastructure projects worldwide. This trend is expected to continue as governments and private entities prioritize infrastructure development to boost economic growth and improve public services. Another key driver is the increasing adoption of automation in the construction industry. Automated equipment rental solutions offer numerous benefits, including increased efficiency, improved safety, and reduced labor costs. However, the market faces a notable challenge: the lack of a skilled workforce in the construction industry. As the demand for construction equipment rental services grows, ensuring a sufficient workforce to operate and maintain the equipment is becoming a significant concern for market players.
To capitalize on the market's opportunities and navigate these challenges effectively, companies must focus on workforce training and development programs, as well as explore partnerships and collaborations to address the labor shortage. Additionally, investing in research and development to create more automated and user-friendly equipment rental solutions can help companies stay competitive and meet the evolving needs of their customers.

What will be the Size of the Construction Equipment Rental Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free Sample

The market continues to evolve, with dynamic market activities unfolding across various sectors. Light equipment, telehandlers, backhoes, and excavators are in high demand for infrastructure projects, while generators and industrial equipment are essential for utility services and industrial applications. Safety standards, a critical aspect of the rental industry, are continually evolving, with civil engineering projects requiring operator certification, safety training, and adherence to OSHA regulations. Rental agreements come in various forms, including long-term and short-term, with operational costs including equipment availability, maintenance, cleaning, and fuel. Equipment damage and rental contract terms are significant considerations, with insurance coverage and liability insurance playing crucial roles in mitigating risks.

Bulldozers, skid steers, and rollers are integral to heavy construction projects, while cranes and forklifts are essential for commercial and residential construction. Fuel efficiency and environmental compliance are increasingly important factors, with digital platforms and mobile app integration streamlining equipment rental processes. Equipment financing, fleet management, and data analytics are also key areas of focus, with rental rates varying from daily to weekly to monthly. Delivery and pickup, equipment inspection, and customer service are essential components of a successful rental experience. Market trends include the growing popularity of online rental booking, equipment repair, and equipment tracking, as well as the integration of specialty equipment, such as boom and scissor lifts, into rental offerings.The market's continuous dynamism is driven by the evolving needs of various sectors, from infrastructure and industrial projects to commercial and residential construction, and disaster relief operations.

How is this Construction Equipment Rental Industry segmented?

The construction equipment rental industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  ECRCE
  MHE


Type

  ICE
  Electric


Product Type

  Backhoes
  Excavators
  Loaders
  Crawler dozers
  Others


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    The Netherlands
    UK


  APAC

    China
    India
    Japan


  Rest of World (ROW)

.

By Application Insights

The ecrce segment is estimated to witness significant growth during the forecast period.

The earthmoving concrete and road construction equipment (ECRCE) rental market encompasses power-propelled vehicles designed for carrying, digging, spreading, or moving materials. This segment includes excavators, loaders, dozers, and Motor Graders. The infrastructure industry's growing investments, driven by the public and private sectors, present significant expansion opportunities for earthmoving equipment rental companies. Urbanization's rapid expansion, particularly in developing countries, will result in an increase in megacities throughout the forecast period. Equipmen

The construction, transportation, mining, forestry and agricultural markets that lease heavy machinery have weathered the tumult of the COVID-19 pandemic to push the Heavy Equipment Rental industry in Canada to growth. Growth in nonresidential construction activity, increased demand from air and rail transportation, alongside a rise in commodity prices have raised need for heavy equipment, even as the pandemic temporarily crippled economic activity in 2020. Consequently, industry revenue is expected to grow at a CAGR of 0.7% to $9.7 billion over the five years to 2023.While the industry has grown, volatility has been substantial. There was consistent demand for heavy equipment prior to the pandemic because of elevated commodity prices, which drove need from construction and transportation markets. However, the collapse in commodity prices because of the outbreak of COVID-19, as well as a temporary pause in most economic activity at the height of the pandemic, resulted in the largest single-year drop in industry revenue in decades. The rebound in commodity prices since has yielded growth in demand since, alongside strong, if uneven, growth in nonresidential and residential construction markets. With commodity prices tempering in 2023, industry revenue is forecast to rise at a more moderate 1.0% during the year. And while revenue has continued to grow, profit margins have not been spared by volatile demand swings, with profitability contracting over the current five-year period. The industry revenue is forecast to grow solidly as commodity prices remain high, despite the expectation that they will temper. The Bank of Canada, as well as other governments globally, have raised interest rates in an effort to curb inflation, dampening downstream demand. However, the Canadian economy has remained strong and construction activity is forecast to rise, despite the higher costs of borrowing. Perhaps most notably, demand from Canadian extraction markets is likely to remain elevated because of pressure from global turmoil, most notably the war in Ukraine. The industry is thus forecast to expand at an a CAGR of 2.1% to $10.8 billion over the five years to 2028.

Construction Equipment Rental Market size was valued at USD 187.46 Billion in 2023 and is poised to grow from USD 199.08 Billion in 2024 to USD 320.19 Billion by 2032, growing at a CAGR of 6.2% during the forecast period (2025-2032).

Over the upcoming decade, the size of the global construction equipment rental market is expected to increase to almost *** billion U.S. dollars by 2027. The European construction equipment rental market is forecasted to generate over ** billion U.S. dollars in that year.

The Saudi Arabia Construction Equipment Rental Market was valued at USD 2.1 billion in 2024 and is expected to reach USD 3.7 billion by 2030 with a CAGR of 9.56% during the forecast period.

Pages	85
Market Size	2024: USD 2.1 billion
Forecast Market Size	2030: USD 3.7 billion
CAGR	2025-2030: 9.56%
Fastest Growing Segment	Skid Steer Loader
Largest Market	Northern & Central
Key Players	1. Expertise Contracting Co Ltd 2. Mohammed Abdullah Al Areedh Company 3. Arab International Transport and Heavy Equipment Company Ltd 4. Fahad S. Al-Tamimi Group 5. Zahid Tractors and Heavy Equipment Company Ltd 6. Al Jaber Heavy Lift & Transport Co. Ltd 7. Bin Quraya Company Limited 8. Source Machinery for Trading & Contracting Company Ltd 9. SAQCO Arabia Limited Company 10. National Basics Company Limited

Global Construction Equipment Rental Market reached US$ 112.3 billion in 2022 and is expected to reach US$ 165.1 billion by 2030

Companies in the tool and equipment rental industry rent out various tools, from contractor equipment to home repair and gardening tools. Construction markets have experienced significant volatility over the past five years. In 2020, residential construction strengthened significantly, while commercial construction suffered amid the onset of COVID-19. Industry revenue has fallen as elevated interest rates have curbed construction activity recently. Overall, industry revenue dipped at a CAGR of 1.4% to $4.7 billion through the end of 2024, including an estimated 1.4% drop in 2024 alone. The consumer market has been a bright spot for lessors, as households have borrowed more small DIY (do-it-yourself) and gardening tools to touch up their homes. Most of these projects stemmed from excessive leisure time during the pandemic. While many consumers have gone back to work, the ease of renting a tool for short-term use remains more attractive than purchasing a product they might only use once or twice. For larger projects, contractors continue to rent tools for the same reason: it is more cost-effective. Industry profit has stagnated amid uneven demand from downstream markets. Construction activity is set to renew through the end of 2029 as economic uncertainty wanes and interest rates drop. More investors and businesses will start projects they had put off amid high interest rates. Homeowners will continue calling contractors or renting equipment to touch up their homes to strengthen their values. Overall, revenue for the tool and equipment rental industry is set to climb at a CAGR of 2.6% to $5.3 billion in 2029.

Graph and download economic data for Producer Price Index by Industry: Other Heavy Machinery Rental and Leasing: Construction Equipment Rental and Leasing (PCU5324125324121) from Dec 2003 to Jun 2025 about heavy weight, leases, machinery, rent, equipment, construction, PPI, industry, inflation, price index, indexes, price, and USA.

The Global Construction Equipment Rental Market size is estimated to grow at a CAGR of around 5.8% during the forecast period 2024-30. The shifting trend towards rental services is a key trend shaping the growth of the Construction Equipment Rental Market.

Discover the India Construction Equipment Rental Market size at USD USD 900 Bn in 2023, featuring Market Forecasts & Outlook, Executive Summary, and Strategic Insights.

Construction Equipment Rental Market size is growing with a CAGR of 5.1% in prediction period & it crosses USD 372.09 Bn by 2032 from USD 262.68 Bn in 2025.