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).

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.

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).

The Machinery Rental And Leasing Market report segments the industry into By Type (Mining, Oil And Gas, Forestry Machinery And Equipment Rental, Commercial Air, Rail, Water Transportation Equipment Rental, Heavy Construction Machinery Rental, and more), By Mode (Online, Offline), and By Region (North America, Europe, Asia-Pacific, South America, and more).

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

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.

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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.

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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 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.

The Construction Equipment Rental Market In ASEAN report segments the industry into By Vehicle Type (Earth Moving Equipment, Material Handling), By Propulsion (IC Engine, Hybrid Drive), and By Country (Indonesia, Thailand, Vietnam, Singapore, Malaysia, Philippines, Rest of the ASEAN). Five years of historical data and five-year forecasts are provided.

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.

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).

The global construction equipment rental market size reached USD 122.9 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 200.8 Billion by 2033, exhibiting a growth rate (CAGR) of 5.04% during 2025-2033. The market is experiencing steady growth driven by the growing demand for flexible rental agreements, rising focus on cost-efficiency in construction projects, and integration of advanced technologies to enable real-time monitoring of machinery while providing data on performance.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 122.9 Billion
Market Forecast in 2033	USD 200.8 Billion
Market Growth Rate 2025-2033	5.04%

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on equipment type, propulsion system, and application.

The Europe Construction Machinery Rental Market report segments the industry into Machinery Type (Cranes, Telescopic Handlers, Excavators, Loaders, Motor Graders, Road Construction Equipment, Other Machinery Types), Drive Type (Hydraulic, Hybrid), By Application (Building Construction, Road Construction, Other Applications), and By Country (Germany, United Kingdom, Italy, Spain, France, Rest of Europe).

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

The global construction equipment rental market is experiencing robust growth, driven by several key factors. The increasing preference for rental over outright purchase, particularly among small and medium-sized enterprises (SMEs), is a significant contributor. This trend is fueled by the flexibility and cost-effectiveness of renting, allowing businesses to access specialized equipment without significant capital investment. Furthermore, the burgeoning infrastructure development across emerging economies, coupled with the ongoing expansion of construction activities in developed nations, fuels market demand. Government initiatives promoting infrastructure projects and sustainable construction practices further enhance market growth. The market is segmented by application (building, infrastructure) and equipment type (earthmoving machinery, material handling and cranes, foundation working machinery, others). Earthmoving machinery, given its prevalence in large-scale projects, currently holds the largest segment share. However, increasing demand for specialized equipment in niche areas, like foundation work, is expected to drive growth in other segments over the forecast period. Competitive dynamics are characterized by the presence of both large multinational corporations and regional players, leading to a diverse landscape with varying equipment offerings and rental models. The market faces some restraints. Economic downturns can significantly impact rental demand, as construction activity slows. Fluctuations in raw material prices and the availability of skilled labor also pose challenges. Furthermore, technological advancements are leading to the introduction of sophisticated and environmentally friendly equipment, requiring rental companies to continuously upgrade their fleets to remain competitive. Despite these challenges, the market is projected to exhibit a healthy compound annual growth rate (CAGR) over the forecast period (2025-2033), primarily due to the enduring demand driven by infrastructure development and the ongoing preference for rental services across diverse construction projects globally. Specific growth rates will vary across regions based on prevailing economic conditions and infrastructure investments. North America and Europe are currently leading the market, but significant growth potential exists in Asia-Pacific and other developing regions.

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Compact Power Equipment Rental Market Size 2024-2028

The compact power equipment rental market size is forecast to increase by USD 2.09 billion at a CAGR of 6.3% between 2023 and 2028.

The market in North America is witnessing significant growth due to the expansion of the construction industry. The integration of advanced technologies such as telematics, fuel cells, batteries, and transformers in compact power equipment like pumps, generators, compressors, bulldozers, and power tools is driving the market growth. These technologies enhance equipment efficiency, reduce operational costs, and improve safety. However, operational challenges associated with compact power equipment rentals, including maintenance, transportation, and fuel management, continue to pose challenges for market growth. Influencers like HVAC, lighting, and HVACR industries are also adopting compact power equipment to meet their energy needs. The market is expected to witness further growth with the increasing demand for eco-friendly and cost-effective power solutions.

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The market encompasses a diverse range of machinery and tools, including engine-driven and electric power tools such as drills, polishers, woodwork routers, and screw drivers. This market plays a vital role in infrastructure development and maintenance by providing lightweight, efficient solutions for construction projects and various industries. The market's size is significant, with continuous growth driven by the increasing demand for specialized equipment that offers improved performance, lower emissions, and enhanced functionality. Rental services for generators, compressors, and other power equipment are increasingly popular due to their cost-effectiveness and convenience. Equipment tracking systems and online platforms, along with mobile applications, facilitate seamless rental processes and efficient inventory management.
The transition towards electric equipment, such as those powered by batteries, electricity, and fuel cells, is gaining momentum due to their environmental benefits and the advancements in electric motors, transformers, and battery technology. Overall, the market is a dynamic and evolving landscape that caters to the ever-changing needs of various industries and construction projects.

How is this Compact Power Equipment Rental Industry segmented and which is the largest segment?

The compact power equipment rental industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Product

  Electric power tools rental
  Engine-driven power tools rental
  Pneumatic power tools


Type

  Period rental
  Rent to own
  On-demand rental


Geography

  North America

    US


  Europe

    Germany
    France


  APAC

    China
    Japan


  Middle East and Africa



  South America

By Product Insights

The electric power tools rental segment is estimated to witness significant growth during the forecast period.

The market has experienced significant growth due to the increasing focus on environmental sustainability and the reduction of carbon emissions. Electric power tools, a key segment of this market, offer lower emissions and reduced noise levels compared to engine-driven alternatives. This makes them an attractive option for urban and noise-sensitive environments, driving demand, particularly in residential and commercial settings. Electric power tools are also lighter, easier to handle, and require less maintenance, making them suitable for a wide range of users, including DIY enthusiasts, contractors, and professionals. Rental services provide an accessible solution for end-users to utilize eco-friendly equipment without the long-term commitment of ownership.

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The electric power tools rental segment was valued at USD 2.24 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 31% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American market is driven by the growth In the construction industry, particularly In the US. Despite federal spending cuts, the industry is projected to expand due to low housing loan interest rates and a pipeline of infrastructure projects. In Canada and Mexico, similar positive trends are anticipated. Infrastructure development is a

The Asia-Pacific Construction Equipment Rental Market Report is segmented by Equipment type (Cranes, Telescopic Handling Equipment, Excavator, Loaders and Backhoe, Motor Grader, and Dump Trucks), Drive Type (IC Engine and Hybrid Drive), Rental Platform type (Online and Offline) and Country.

The Earthmoving segment encompasses excavators, bulldozers, and backhoes, predominantly used in construction, mining, and excavation operations. Material Handling covers forklifts, cranes, and telehandlers, catering to sectors such as manufacturing, warehousing, and logistics. Heavy Vehicles include trucks, trailers, and specialized vehicles used for transporting materials and equipment. Concrete & Road Construction equipment comprises pavers, concrete mixers, and road rollers, essential for road construction and maintenance projects. Notable trends are: Proliferating Construction Industry.

Event Equipment Rental Market Outlook

The global event equipment rental market size was valued at approximately USD 15 billion in 2023 and is projected to reach USD 25 billion by 2032, growing at a compound annual growth rate (CAGR) of 6% during the forecast period. This market growth is driven by the rising demand for professional-grade equipment across various types of events coupled with the increasing trend towards event outsourcing. The market is witnessing significant growth due to advancements in technology and the rising consumer preference for high-quality event production and management.

One of the primary growth factors contributing to this market is the burgeoning demand for audio-visual equipment. As businesses and individuals seek to create more engaging and memorable event experiences, the need for sophisticated audio-visual equipment has surged. This includes everything from projectors and sound systems to LED screens and virtual reality setups, all of which are now staples in modern event production. The increasing number of corporate events, product launches, and large-scale social gatherings has further intensified this demand, thereby propelling the market forward.

Another key growth driver is the growing trend of destination weddings and themed social events. As couples and event planners seek unique and memorable settings, the need for specialized event equipment, such as tents, tables, chairs, and decor, has grown substantially. Additionally, the rising disposable incomes and changing lifestyles, particularly in emerging economies, have led to an increase in lavish weddings and social gatherings, further boosting the demand for event equipment rentals.

Moreover, the proliferation of the event management industry is a significant growth factor. The increasing reliance on professional event planners and coordinators has driven the need for high-quality, reliable rental equipment. Event management companies are increasingly outsourcing equipment needs to specialized rental services to ensure seamless execution without the hassle of maintenance and storage. This trend is particularly pronounced in corporate events, where the quality and reliability of equipment can significantly impact the success of the event.

From a regional standpoint, North America holds a significant share of the event equipment rental market. The region's strong economic conditions, high disposable incomes, and a robust corporate sector contribute to the demand for rental equipment. Additionally, the presence of numerous event management companies and frequent social gatherings further bolster market growth in this region. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period. The rapid urbanization, increasing disposable incomes, and the growing popularity of western-style corporate events and weddings are driving the market in this region.

An emerging trend in the event equipment rental market is the rise of Electronics Products Rentals. As events become more technologically advanced, the demand for cutting-edge electronic devices has surged. From interactive touch screens and digital kiosks to advanced lighting and sound systems, event organizers are increasingly turning to rental services to access the latest technology without the high costs of ownership. This trend is particularly prevalent in corporate events and large-scale social gatherings, where the integration of sophisticated electronics can significantly enhance the attendee experience. The flexibility and cost-effectiveness of renting electronics allow event planners to tailor their setups to specific event needs, ensuring a seamless and impactful execution.

Equipment Type Analysis

The event equipment rental market by equipment type is categorized into audio-visual equipment, tents, tables and chairs, linens, kitchen equipment, and others. The audio-visual equipment segment holds a substantial share of the market owing to the increasing demand for high-quality sound and visual display systems in both corporate and social events. Advancements in technology have made audio-visual equipment more sophisticated and capable, thus attracting more clients. Additionally, the rising trend of live streaming and virtual events has further fueled the demand for advanced audio-visual solutions, making this segment a pivotal part of the market.

The tents segment is also experiencing significa

IT Equipment Rental Market Outlook

The global IT equipment rental market size was estimated at USD 25 billion in 2023 and is projected to reach USD 45 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.5% during the forecast period. This growth is driven by several factors, including the increasing demand for cost-effective solutions in managing IT infrastructure and the rising trend of remote work and online education. The flexibility offered by rental services allows organizations to upgrade their technology without the high upfront costs of purchasing new equipment, thereby fostering market expansion.

The shift towards digital transformation across various industries is a significant growth factor for the IT equipment rental market. Companies are increasingly adopting advanced technologies to improve operational efficiency, enhance customer experience, and gain a competitive edge. However, the rapid pace of technological advancements often renders equipment obsolete quickly, making the option to rent rather than purchase more appealing. This trend is particularly noticeable in sectors such as healthcare, education, and corporate environments where the need for up-to-date technology is critical.

Another crucial growth factor is the surge in the number of start-ups and small to medium-sized enterprises (SMEs). These organizations often operate on limited budgets and may not have the financial capacity to invest in high-end IT equipment. Renting allows these businesses to access the latest technology without significant capital expenditure, enabling them to scale operations and compete with larger companies. Moreover, the flexibility of rental agreements, which can be tailored to specific business needs, adds to the appeal of IT equipment rental services.

The global trend towards remote work and distance learning has also fueled the demand for IT equipment rental. With more employees working from home and students attending virtual classes, the need for reliable and up-to-date technology has surged. Companies and educational institutions are increasingly turning to rental services to meet these demands efficiently. Additionally, the rental model supports sustainability by promoting the reuse and recycling of equipment, aligning with the growing emphasis on environmentally responsible practices.

Regionally, North America holds a significant share of the IT equipment rental market, driven by the presence of major technology hubs and a high adoption rate of advanced IT solutions. The Asia Pacific region is expected to witness the highest growth rate due to the booming IT industry in countries like India and China, coupled with the increasing number of start-ups and SMEs. Europe also presents substantial growth opportunities, supported by the region's focus on digital transformation and the presence of well-established corporate sectors. The Middle East & Africa and Latin America are gradually emerging as potential markets, with increasing investments in IT infrastructure and a growing number of educational institutions and healthcare facilities adopting rental services.

As the IT equipment rental market continues to expand, a parallel trend is emerging in the rental furniture industry. Companies and individuals are increasingly opting for rental furniture solutions to furnish their spaces without the long-term commitment of ownership. This trend is particularly evident in urban areas where mobility and flexibility are highly valued. Rental furniture offers a practical solution for temporary setups, such as pop-up shops, events, and short-term office spaces. It allows businesses to create a professional and appealing environment without the significant upfront costs associated with purchasing furniture. Additionally, rental furniture services often include delivery, setup, and maintenance, further enhancing their appeal to businesses and individuals seeking convenience and cost-effectiveness.

Equipment Type Analysis

The IT equipment rental market can be segmented by equipment type, including computers, laptops, tablets, servers, networking equipment, and others. Computers and laptops hold a significant market share, driven by their widespread use in corporate environments, educational institutions, and government agencies. The flexibility offered by renting computers and laptops allows organizations to meet their technology needs without large capital investments. Additionally, the frequent need to upgrade these devices