Construction Equipment Rental Market is predicted to reach USD 144.5 billion at a CAGR of 4.9% during the forecast period

Market Research Future (MRFR) has published on the “Global Construction Equipment Rental Market”.

MRFR recognizes the following companies as the key players in the global Construction Equipment Rental market— 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., among others.

Market Highlights

The global Construction Equipment Rental market is accounted for to register a CAGR of 4.9% during the forecast period and is estimated to reach USD 144.5 Billion by 2032.

The construction equipment rental market is a service industry that provides machinery and equipment to construction contractors and other businesses for a limited period. 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.

Segment Analysis

The global Construction Equipment Rental market has been segmented based on type and application.

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 45.0 billion. 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 17.3 Billion during the forecast period.

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Regional Analysis

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 22.5 Billion by the end of 2032. 

The construction equipment rental market in North America has witnessed significant growth in recent years. The market is driven by several factors, including the increasing demand for construction equipment, cost-effective rental options, and the rising trend of outsourcing equipment needs. The region's robust construction industry, particularly in the United States and Canada, has created a favorable environment for equipment rental services. For instance, in 2021, the United States dominated the North American equipment rental market. Moreover, the growing adoption of advanced construction equipment and technologies has further fueled market growth.

The construction equipment rental market in South America has observed substantial growth in modern years. The region's expanding construction industry, coupled with the advantages of renting equipment over purchasing, has fueled the demand for rental services. Infrastructure development projects, urbanization, and a growing focus on renewable energy have been key drivers of the market. South American countries, such as Brazil, Argentina, and Chile, have been at the forefront of this market growth, with a rising number of construction projects and investments. Rental companies have capitalized on this opportunity by offering a wide range of equipment.

The construction equipment rental market in Europe is a dynamic and thriving sector that caters to the diverse needs of the construction industry. Factors such as increasing infrastructure development, urbanization, and the need for cost-effective solutions have contributed to the expansion of the rental market. Europe is witnessing a surge in construction activities, including residential, commercial, and industrial projects. This has created a demand for various construction equipment such as excavators, loaders, cranes, and concrete pumps.

The construction equipment rental market in the Middle East has been experiencing notable growth. With the region witnessing a surge in construction and infrastructure development projects, the demand for construction equipment has soared. The rental market has emerged as a viable solution for contractors and construction companies, offering flexibility, cost-effectiveness, and access to a wide range of equipment. The Middle East's rapid urbanization, expanding transportation networks, and ambitious mega-projects, such as Expo 2020 Dubai and FIFA World Cup 2022 in Qatar, have stimulated the demand for construction equipment.

Several factors contribute to the growth of the construction equipment rental market in Africa. The market is witnessing the emergence of both local and international rental companies, providing a wide range of equipment such as excavators, loaders, bulldozers, cranes, dumpers, and concrete pumps. Furthermore, technological advancements and the availability of modern equipment have increased the attractiveness of the rental market.

The construction equipment rental market in China has experienced significant growth in recent years. The country's rapid urbanization, infrastructure development, and increasing construction activities have contributed to the rising demand for construction equipment. The market is characterized by a wide range of rental equipment, including excavators, loaders, cranes, bulldozers, and more. Furthermore, China has the world's largest construction market. China's construction sector was worth more than billion US dollars in 2020. Because the government intends to focus on building infrastructure in small and medium-sized cities, the construction industry is expected to increase steadily, which will also drive the expansion of the equipment rental market throughout the projection period.

Key Findings of the Study

• The global Construction Equipment Rental market is expected to reach USD 144.5 Billion by 2032, at a CAGR of 4.9% during the forecast period.


• 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 22.5 billion by the end of 2032.


• Based on type, the earth moving segment drove the global construction equipment rental market by holding a substantial market share with a market value of USD 45.0 billion in 2022.


• Based on application, transportation and logistics and residential segments led the market in 2022 with a substantial market share. The target segments are projected to offer a total incremental opportunity of USD 17.3 Billion during the forecast period.


• 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, and Herc Rentals Inc., are key market players.