PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1628020
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1628020
Construction Equipment Rental Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 - 2034
The Global Construction Equipment Rental Market was valued at USD 147.4 billion in 2024 and is projected to grow at a CAGR of 6.2% from 2025 to 2034. The high cost of purchasing construction machinery is driving contractors to opt for rental and hiring services as a more economical and practical solution. Equipment such as earth-moving, road-building, and material-handling machines come with significant price tags, making rentals an attractive alternative. This shift is further supported by operator training programs aimed at improving workplace safety, which many rental providers offer as part of their services.
Rising labor costs and workforce shortages in regions like the U.S. and Germany are adding to the financial burden of machinery ownership. Manufacturers have been increasing equipment prices to sustain profitability, making outright purchases less feasible for private construction firms. Innovations in machinery, including automated handling, telematics, and driving assistance, further escalate costs, leading firms to prioritize renting over buying.
Global demand for advanced construction equipment rentals is on the rise due to the benefits of improved performance and faster operations. Rental companies are increasingly integrating cutting-edge technologies like telematics, which combines telecommunications and informatics to enable real-time machine tracking. Features such as GPS integration and cloud-based connectivity enhance operational efficiency and safety, making these options highly appealing to contractors.
| Market Scope | |
|---|---|
| Start Year | 2024 |
| Forecast Year | 2025-2034 |
| Start Value | $147.4 Billion |
| Forecast Value | $264.5 Billion |
| CAGR | 6.2% |
In 2024, the backhoes segment accounted for 50% share and is projected to generate USD 76.3 billion by 2034. This growth is fueled by rapid developments in road construction and public infrastructure projects. The mechanization of infrastructure development to achieve higher quality is driving demand for earth-moving and road-building equipment rentals. Similarly, excavators are witnessing strong growth due to rising residential construction activities, offering significant opportunities within the rental market.
The material handling and cranes category includes storage and handling equipment, engineered systems, industrial trucks, and bulk material handling equipment. Bulk material handling equipment, which held a 45% share in 2024, is seeing increasing demand due to its role in expediting large-scale infrastructure projects. The trend toward constructing large commercial buildings and skyscrapers boosts the adoption of material handling rentals.
North America led the global market in 2024, with 35% of the share. The U.S. drives regional growth due to a surge in construction activities and the presence of major rental providers. Additionally, growing tourism-related infrastructure development in Canada further supports market expansion.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
- 1.2 Base estimates & calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimation
- 1.3 Forecast model
- 1.4 Primary research and validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
- 1.5 Market scope & definition
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021 - 2034
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Raw material suppliers
- 3.1.2 Component suppliers
- 3.1.3 Manufacturers
- 3.1.4 Technology providers
- 3.1.5 Distributors
- 3.1.6 End users
- 3.2 Supplier landscape
- 3.3 Profit margin analysis
- 3.4 Technology & innovation landscape
- 3.5 Patent analysis
- 3.6 Regulatory landscape
- 3.7 Pricing analysis
- 3.8 Buyer behavior and preferences
- 3.9 Impact forces
- 3.9.1 Growth drivers
- 3.9.1.1 High cost of new construction equipment
- 3.9.1.2 Rapidly growing equipment rental industry in North America
- 3.9.1.3 High demand for technologically advanced construction equipment
- 3.9.2 Industry pitfalls & challenges
- 3.9.2.1 Instability of application industries
- 3.9.2.2 Lack of skilled and qualified equipment operators
- 3.9.1 Growth drivers
- 3.10 Growth potential analysis
- 3.11 Porter's analysis
- 3.12 PESTEL analysis
Chapter 4 Competitive Landscape, 2024
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Product, 2021 - 2034 ($Bn, Units)
- 5.1 Key trends
- 5.2 Earthmoving & road building equipment
- 5.3 Material handling & cranes
- 5.4 Concrete equipment
Chapter 6 Market Estimates & Forecast, By Earthmoving & Road Building Equipment, 2021 - 2034 ($Bn, Units)
- 6.1 Key trends
- 6.2 Backhoes
- 6.3 Excavators
- 6.4 Loaders
- 6.5 Compaction equipment
- 6.6 Others
Chapter 7 Market Estimates & Forecast, By Material Handling and Cranes, 2021 - 2034 ($Bn, Units)
- 7.1 Key trends
- 7.2 Storage & handling equipment
- 7.3 Engineered systems
- 7.4 Industrial trucks
- 7.5 Bulk material handling equipment
Chapter 8 Market Estimates & Forecast, By Concrete Equipment, 2021 - 2034 ($Bn, Units)
- 8.1 Key trends
- 8.2 Concrete pumps
- 8.3 Crushers
- 8.4 Transit mixers
- 8.5 Asphalt pavers
- 8.6 Batching plants
Chapter 9 Market Estimates & Forecast, By Region, 2021 - 2034 ($Bn, Units)
- 9.1 Key trends
- 9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Russia
- 9.3.7 Nordics
- 9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 Australia
- 9.4.5 South Korea
- 9.4.6 Southeast Asia
- 9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.6 MEA
- 9.6.1 UAE
- 9.6.2 South Africa
- 9.6.3 Saudi Arabia
Chapter 10 Company Profiles
- 10.1 Aktio
- 10.2 Al Faris Equipment Rental
- 10.3 Ashtead
- 10.4 Boels Rental
- 10.5 Briggs Equipment
- 10.6 Byrne Equipment Rental
- 10.7 Caterpillar
- 10.8 Cramo
- 10.9 H&E Equipment Services
- 10.10 Herc Holdings (Herc Rentals)
- 10.11 Hinkel Equipment Rental
- 10.12 Kanamoto
- 10.13 Kiloutou SAS
- 10.14 Liebherr-International
- 10.15 Loxam
- 10.16 Maxim Crane Works
- 10.17 Mtandt Rentals
- 10.18 Pekkaniska
- 10.19 Sunstate Equipment (Sumitomo)
- 10.20 United Rentals
