Global Construction Equipment Rental Market- Market Overview:

The global construction equipment rental market is expected to grow from USD 95 billion in 2022 to USD 150.2 billion by 2030, at a CAGR of 5.9% during the Projection period 2023-2030. The increase in construction and mining operations, mostly in emerging countries is driving the construction equipment rental market.

Equipment rental, also known as plant hire in some nations (such as the United Kingdom), is a service industry that rents out machinery, equipment, and tools of all types and sizes to final users, primarily construction contractors but also industry and individual consumers, for a predetermined period of time. These tools and equipment range from earthmoving to powered access, power generation to hand-held tools, and so forth. Renting can be defined as receiving equipment temporarily to help people who are unable to buy the equipment outright. For enterprises of all sizes throughout the world, leasing heavy gear construction equipment rather than purchasing it has shown to be beneficial. This has led to an explosion in the rental market for construction equipment. Large-scale investment-driven industries like power, housing, energy, and transportation have experienced tremendous expansion. Due to the significant degree of investment, construction companies prefer to hire equipment to reduce project costs. Given that it results in lower maintenance expenses and fewer technical fees, this technique is cost-effective. Construction equipment is expensive and challenging to maintain, thus renting or leasing it has grown in popularity. There are also additional benefits to renting construction equipment outside just the price. Rental companies include the use of the necessary machinery and qualified machine operators and drivers in the rent. Recession and other economic downturns have no impact on the construction industry.

Sample Request: - Global Construction Equipment Rental Market

Market Dynamics:

Drivers:                          

• Advancements in the Infrastructure Sectore

The demand for construction equipment rental services is expected to increase due to ongoing advancements in the infrastructure sector and a wide variety of cutting-edge construction equipment in rental fleets. In order to manage the growing demand from the real estate sector in residential and commercial sectors, companies in the construction equipment rental market are skilled at recognizing customers and moving construction equipment suitably to varied places. Additionally, strict regulations, the total cost of ownership, and financial constraints are some of the major factors promoting the expansion of the global market for construction equipment rentals. However, fluctuating fuel prices and the cost of shipping and picking up equipment, particularly if the contractor is working in inhospitable places, may reduce demand in the years to come.

Restraints:                                             

• High Cost

The length of time you want to rent heavy machinery will have a significant impact on the overall cost. You'd be better off renting the equipment if, for example, you only needed it for a month because the cost may be quite low. On the other hand, if you want to use the equipment for a number of years, the overall cost may exceed the equipment's real cost. For modest jobs or brief durations, renting is best.

Opportunities:

• Rising Features of Construction Equipment

Numerous cutting-edge features in the rental market for construction equipment have been brought about by technological advancements in the heavy machinery and automobile industries. Manufacturers of construction equipment are putting a lot of effort into integrating cutting-edge safety features like 360-degree video vision, lift help, and supplemental work lights. They are also aiming to provide solutions that boost operational productivity and require less maintenance. However, these advantages come at a high price that many small builders and contractors find to be unreasonable. Professionals are more likely to use rental construction equipment as a result of these variables.

Challenges:

• Less Variety

Prepare yourself to accept a different equipment model than the one you had in mind if you decide to rent. It is hard for rental firms to have all models, brands, and types of equipment, even though they occasionally refresh their inventory. Therefore, when renting, try to avoid thinking of a specific brand. Renting or purchasing heavy equipment can be challenging because each choice has advantages and disadvantages.

Segmentation Analysis:

The global construction equipment rental market has been segmented based on product, application, and region.

By Product

The product segment is concreter & construction machinery, material handling machinery, and earth machinery. The earth machinery segment led the largest share of the construction equipment rental market with a market share of around 45.8% in 2022. The mining, agricultural, and construction industries' expanding use of earthmoving excavators considerably contributes to segment growth. Backhoe loaders, crawler excavators, skid-steer loaders, and micro excavators are examples of various earthmoving machinery that have higher load capacities and superior engine performance. These characteristics of earthmoving machinery make them suited for usage in challenging working conditions. Furthermore, leasing earthmoving equipment has become more popular among construction firms and contractors due to the rise in the number of residential and significant commercial civil projects being built.

By Application

The application segment is industrial, commercial and residential. The residential segment led the largest share of the construction equipment rental market with a market share of around 40.9%in 2022. It is anticipated that residential building construction will increase demand for all types of construction equipment. Macroeconomic considerations also help homebuyers by bringing down mortgage rates and fostering steady employment. These elements are probably going to support the construction equipment rental industry's long-term growth.

Global Construction Equipment Rental Market - Sales Analysis.

The sale of the construction equipment rental market expanded at a CAGR of 3.8% from 2016 to 2022.

Renting heavy gear for use in concrete mixing, earthmoving, material handling, and other similar operations is known as renting construction equipment. The market primarily offers two different types of equipment rental models. The wet hiring concept entails renting construction machinery combined with workers to run and repair it. In contrast, under the dry hiring model, the enterprise's internal experts run and maintain the equipment. Renting is more economical because there are fewer maintenance fees and technical costs involved. In compared to buying used equipment, this technique helps the company avoid upfront costs, market fluctuations, depreciation, and storage problems.

One of the main drivers fueling the market's expansion is the flourishing construction industry around the world, together with rising investments in infrastructure development. The development of the residential and public infrastructure sectors has become urgently necessary due to the rapid population growth and rising consumer spending power. As a result, multiple private stakeholders and the governments of various nations are making large investments and starting projects for the general framework development of their individual economies. Another significant aspect that stimulates growth in the construction sector is the rising trend of automation. Artificial intelligence (AI)-equipped gear with expert drivers and operators is now available for rent from rental businesses.

Thus, owing to the aforementioned factors, the global construction equipment rental market is expected to grow at a CAGR of 5.9% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the construction equipment rental market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific region dominated the construction equipment rental market and held a 38.2% share of the market revenue in 2022.

• The Asia Pacific region witnessed a major share. Because of the increased focus by the governments on constructing infrastructure for a sustainable economy, Asia-Pacific is one of the main areas that has experienced a boom in infrastructure and construction development. In order to support high-level industrial operations, rising energy consumption, and improved connectivity, this region saw an increase in the number of Special Economic Zones (SEZs), hydroelectric projects, dams, highway building, metro construction, airports, etc. In order to meet the growing demand and seize the local market, various foreign businesses have started investing and are establishing manufacturing and distribution facilities in the area.
• North America is anticipated to experience significant growth during the Projection period. Due to the low cost of project-specific, cutting edge technological technology, the region's construction equipment businesses are expanding. Specialized machinery is chosen because it shortens operation times, eliminates idle time, and maximises overall mining or building activity. The demand for improved rental services and solutions has developed as a result of the popularity of the major construction equipment rental firms with U.S. bases, like United Rentals, Ahern Rentals, Ashtead Group, and others.

Global Construction Equipment Rental Market- Country Analysis:

• Germany

Germany's construction equipment rental market size was valued at USD 0.75 billion in 2022 and is expected to reach USD 1.19 billion by 2030, at a CAGR of 6% from 2023 to 2030. This region has seen an expansion in the number of motorways, metros, airports, Special Economic Zones (SEZs), hydroelectric projects, and dams to support increasing connectivity, high-level industrial activity, and growing energy demand. Because there are cutting-edge manufacturing facilities, labour is less expensive, and there is a big output capacity.

• China

China’s construction equipment rental market size was valued at USD 0.78 billion in 2022 and is expected to reach USD 1.26 billion by 2030, at a CAGR of 6.2% from 2023 to 2030. In Asian economies like China, the development of construction engineering is accelerating due to the expansion of infrastructure transformation initiatives across all industry sectors. Local construction equipment rental markets are expanding as a result of government initiatives to build public infrastructures such as malls, schools, and parks in urban areas as well as facilities for water supply, transportation, and sanitation in rural areas.

• India

India's construction equipment rental market size was valued at USD 0.60 billion in 2022 and is expected to reach USD 0.96 billion by 2030, at a CAGR of 6.1% from 2023 to 2030. The Indian government has launched a number of ground-breaking programmes, including the Smart Cities Mission, Make in India, Housing for All, and the Atal Mission for Urban Rejuvenation & Transformation (AMRUT), which is expected to support the demand for construction equipment rental services in this area. The Indian National Investment Promotion and Facilitation Agency estimates that by 2022, the construction sector will generate revenue of over USD 740 billion, providing exciting opportunities for market expansion.

Key Industry Players Analysis:

To increase their market position in the global construction equipment rental market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.         

• Ahern Rentals Inc.
• AKTIO Corporation
• Caterpillar Inc.
• Byrne Equipment Rental
• Cramo Plc
• Finning International Inc.
• Liebherr-International AG
• Kanamoto Co., Ltd.
• Maxim Crane Works, L.P.
• United Rentals, Inc.

Latest Development:

• In October 2021, Herc Holdings purchased the Toronto-based equipment rental company Rapid Equipment Rental Limited. Herc Holdings will be able to increase scale and density in a few urban markets across North America thanks to this acquisition.
• In June 2020, H&E Equipment Services Inc. moved its Georgetown branch to a larger facility in Temple, Texas.

Report Metrics

Report Attribute	Details
Study Period	2022-2030
Base year	2022
CAGR (%)	5.9%
Market Size	95 billion in 2022
Projection period	2023-2030
Projection unit	Value (USD)
Segments covered	By Product, By Application, and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Ahern Rentals Inc., AKTIO Corporation, Caterpillar Inc., Byrne Equipment Rental, Cramo Plc, Finning International Inc., Liebherr-International AG, Kanamoto Co., Ltd., Maxim Crane Works, L.P., and United Rentals, Inc.
By Product	Concreter & Construction Machinery Material Handling Machinery Earth Machinery
By Application	Industrial Commercial Residential
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Construction Equipment Rental Market By Product:

• Concreter & Construction Machinery
• Material Handling Machinery
• Earth Machinery

Global Construction Equipment Rental Market By Application:

• Industrial
• Commercial
• Residential

Global Construction Equipment Rental Market By Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia

Political Factors- Democracy is the cornerstone of the existing system of government, which underpins the activities of the construction equipment rental  sector. The construction equipment rental  market can achieve financial independence through a democratic political framework that encourages initiative and unrestrained trade. Pressure groups can influence the workplace climate by gaining strong media partners. These groups, who have initiated marketing campaigns and demonstrations, are putting pressure on these organisations. These pressure groups need to be monitored by the construction equipment rental  market because they have the power to influence government policy, which could ultimately have an impact on the general business climate.

Economic Factors- It is made possible for capital to amass and for the production of goods and services by the efficiency of the financial market and the expansion of the overall economy, which have a strong positive association. To quickly grow financial and human resources, the construction equipment rental  industry must pick nations with very strong financial markets. The effectiveness of the financial system can help the market for construction equipment rental s stay one step ahead of its competitors. Before deciding whether to go global, the construction equipment rental  market should assess the rates of economic growth in the various nations. There are greater opportunities to pursue long-term growth goals in countries with high economic growth rates.

Social Factors- When the construction equipment rental  market primarily targets young consumers with its products/services, there are two favourable demographic indicators: rapid population growth and an increasing share of the young population group. The host country's perspective on immigration should be taken into account when analysing the market for construction equipment rental s because it indicates that diversity management strategies should be implemented when there is a welcoming attitude toward immigrants from various cultural backgrounds. To foster diversity and inclusion, the construction equipment rental  sector needs to alter its marketing tactics. An upbeat perspective on migration emphasises how simple it is for people of different racial and cultural backgrounds to find jobs in the market for construction equipment rental s.

Technological Factors- The industry's research and development trends show how forward-thinking businesses are at commercialising ground-breaking concepts. The market for construction equipment rental s needs to comprehend how new technological advancements can help the industry and benefit consumers. In markets where disruptive technology is widely used, a large investment in research and development would be required. The market for construction equipment rental s must, however, adopt a long-term perspective and refrain from hoping to see a speedy return on its R&D investments.

Environmental Factors- The use of the closed-loop, circular economy concept is starting to proliferate in numerous nations in a range of contexts and industries. Industries that benefit from promoting institutional structures can facilitate material recycling and reuse. Similar to this, recycling is a well-liked activity everywhere in the world. These sustainability trends may help the market for construction equipment rental s to advertise products and be used as a tool to achieve financial goals by lowering manufacturing costs and environmental expenses.

Legal Factors- Numerous federal and state legislation are in place in several nations to safeguard clients from potential financial exploitation. The laws governing consumer privacy have tightened in the era of digital technology. resources for an construction equipment rental  Businesses must strictly abide by the data privacy laws when making online transactions in order to prevent lawsuits. Market supply for construction equipment rental s must review local laws governing returns, discounts, credit terms, quality, deceptive advertising, and maximum price before entering new markets (particularly in the case of basic essential goods).

1. Introduction
   • 1. Objectives of the Study
   • 2. Market Definition
   • 3. Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
   • 1. Porter’s Five Forces Analysis
   • 2. Value Chain Analysis
   • 3. Top Investment Pockets
     • 3.1. Market Attractiveness Analysis By Product
     • 3.2. Market Attractiveness Analysis By Application
     • 3.3. Market Attractiveness Analysis By Region
   • 4. Industry Trends
5. Market Dynamics
   • 1. Market Evaluation
   • 2. Drivers
     • 2.1. Advancements in the Infrastructure Sectore
   • 3. Restraints
     • 3.1. High Cost
   • 4. Opportunities
     • 4.1. Rising Features of Construction Equipment
   • 5. Challenges
     • 5.1. Less Variety

6. Global Construction Equipment Rental Market Analysis and Projection, By Product
   • 1. Segment Overview
   • 2. Concreter & Construction Machinery
   • 3. Material Handling Machinery
   • 4. Earth Machinery
7. Global Construction Equipment Rental Market Analysis and Projection, By Application
   • 1. Segment Overview
   • 2. Industrial
   • 3. Commercial
   • 4. Residential
8. Global Construction Equipment Rental Market Analysis and Projection, By Regional Analysis
   • 1. Segment Overview
   • 2. North America
     • 2.1. U.S.
     • 2.2. Canada
     • 2.3. Mexico
   • 3. Europe
     • 3.1. Germany
     • 3.2. France
     • 3.3. U.K.
     • 3.4. Italy
     • 3.5. Spain
   • 4. Asia-Pacific
     • 4.1. Japan
     • 4.2. China
     • 4.3. India
   • 5. South America
     • 5.1. Brazil
   • 6. Middle East and Africa
     • 6.1. UAE
     • 6.2. South Africa

9. Global Construction Equipment Rental Market-Competitive Landscape
   • 1. Overview
   • 2. Market Share of Key Players in the Construction Equipment Rental Market
     • 2.1. Global Company Market Share
     • 2.2. North America Company Market Share
     • 2.3. Europe Company Market Share
     • 2.4. APAC Company Market Share
   • 3. Competitive Situations and Trends
     • 3.1. Technology Launches and Developments
     • 3.2. Partnerships, Collaborations, and Agreements
     • 3.3. Mergers & Acquisitions
     • 3.4. Expansions

10. Company Profiles
    • Ahern Rentals Inc.
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Technology Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • AKTIO Corporation
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Technology Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • Caterpillar Inc.
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Technology Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • Byrne Equipment Rental
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Technology Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • Cramo Plc
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Technology Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Finning International Inc.
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Technology Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis
    • Liebherr-International AG
      • 7.1. Business Overview
      • 7.2. Company Snapshot
      • 7.3. Company Market Share Analysis
      • 7.4. Company Technology Portfolio
      • 7.5. Recent Developments
      • 7.6. SWOT Analysis
    • Kanamoto Co., Ltd.
      • 8.1. Business Overview
      • 8.2. Company Snapshot
      • 8.3. Company Market Share Analysis
      • 8.4. Company Technology Portfolio
      • 8.5. Recent Developments
      • 8.6. SWOT Analysis
    • Maxim Crane Works, L.P.
      • 9.1. Business Overview
      • 9.2. Company Snapshot
      • 9.3. Company Market Share Analysis
      • 9.4. Company Technology Portfolio
      • 9.5. Recent Developments
      • 9.6. SWOT Analysis
    • United Rentals, Inc.
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis

List of Table

1. Global Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
2. Global Concreter & Construction Machinery, Construction Equipment Rental Market, By Region, 2023–2030 (USD Billion)
3. Global Material Handling Machinery, Construction Equipment Rental Market, By Region, 2023–2030 (USD Billion)
4. Global Earth Machinery, Construction Equipment Rental Market, By Region, 2023–2030 (USD Billion)
5. Global Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
6. Global Industrial, Construction Equipment Rental Market, By Region, 2023–2030 (USD Billion)
7. Global Commercial, Construction Equipment Rental Market, By Region, 2023–2030 (USD Billion)
8. Global Residential, Construction Equipment Rental Market, By Region, 2023–2030 (USD Billion)
9. Global Construction Equipment Rental Market, By Region, 2023–2030 (USD Billion)
10. North America Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
11. North America Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
12. USA Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
13. USA Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
14. Canada Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
15. Canada Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
16. Mexico Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
17. Mexico Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
18. Europe Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
19. Europe Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
20. Germany Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
21. Germany Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
22. France Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
23. France Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
24. UK Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
25. UK Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
26. Italy Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
27. Italy Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
28. Spain Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
29. Spain Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
30. Asia Pacific Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
31. Asia Pacific Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
32. Japan Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
33. Japan Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
34. China Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
35. China Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
36. India Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
37. India Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
38. South America Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
39. South America Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
40. Brazil Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
41. Brazil Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
42. Middle East and Africa Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
43. Middle East and Africa Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
44. UAE Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
45. UAE Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)
46. South Africa Construction Equipment Rental Market, By Product, 2023–2030 (USD Billion)
47. South Africa Construction Equipment Rental Market, By Application, 2023–2030 (USD Billion)

List of Figures 

1. Global Construction Equipment Rental Market Segmentation
2. Construction Equipment Rental Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Construction Equipment Rental Market Attractiveness Analysis By Product
9. Global Construction Equipment Rental Market Attractiveness Analysis By Application
10. Global Construction Equipment Rental Market Attractiveness Analysis By Region
11. Global Construction Equipment Rental Market: Dynamics
12. Global Construction Equipment Rental Market Share By Product (2023 & 2030)
13. Global Construction Equipment Rental Market Share By Application (2023 & 2030)
14. Global Construction Equipment Rental Market Share by Regions (2023 & 2030)
15. Global Construction Equipment Rental Market Share by Company (2021)