Evolving Market Trends In The Construction Equipment Rental Industry

The Construction Equipment Rental Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Construction Equipment Rental Market Size During the Forecast Period?
The market for renting construction equipment has seen significant growth in the past few years. The sector is projected to expand from a size of $105.1 billion in 2024 to reach $110.55 billion in 2025, showing a compound annual growth rate (CAGR) of 5.2%. Factors contributing to this growth in the past include increased construction activities, a rising need for cost-effectiveness and efficiency in construction work, heightened competition among construction firms and equipment makers, and an increase in equipment rental demand due to the wavering nature of the construction industry.

Anticipating robust development in the upcoming years, the construction equipment rental market is poised to surge to a value of $137.69 billion by 2029, with a compound annual growth rate (CAGR) of 5.6%. The growth projected over the forecast period stems from heightened incorporation of rental equipment across various sectors, escalating demand for sustainable and environmentally friendly construction machinery, a growing penchant for operational and scalability flexibility, financial agility and businesses' capital conservation. Increasingly, the use of telematics and IoT in construction equipment rental is also seen. The projected period will also witness significant advancements in technology and logistics infrastructure, partnerships between rental entities and construction technology providers, the rise of advanced rental software for streamlined fleet handling, technological progression in construction equipment and the emergence of web-based platforms facilitating equipment rental transactions.

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What Are the High-Growth Segments in the Construction Equipment Rental Market?
The construction equipment rental market covered in this report is segmented -

1) By Equipment: Earthmoving, Material Handling, Road Building And Concrete
2) By Product: Backhoes, Excavators, Loaders, Crawler Dozers, Cranes, Concrete Pumps, Compactors, Transit Mixers, Concrete Mixers
3) By Application: Residential, Commercial, Industrial

Subsegments:
1) By Earthmoving: Excavators, Bulldozers, Backhoe Loaders, Skid Steer Loaders
2) By Material Handling: Forklifts, Telehandlers, Aerial Lifts, Cranes
3) By Road Building And Concrete: Asphalt Pavers, Concrete Mixers, Road Rollers, Concrete Pumps

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What Key Drivers Are Expected to Influence Future Construction Equipment Rental Market Growth?
The expansion of the construction industry is predicted to drive the growth of the construction equipment rental market. The rise in construction activities is due to ongoing urbanization, forthcoming infrastructure projects, and an increasing population. The construction sector utilizes various equipments like tower cranes, bulk material handling, transit mixers, batching plants, concrete pumps, and many more. Contractors can decrease the acquisition and maintenance cost by opting for renting these equipments. For instance, as per Eurostat, a government agency from Luxembourg, in February 2024, there was a slight rise of 0.1% and 0.2% in the average annual building production in EU and euro region respectively, in comparison to 2022. Moreover, in December 2021, the United States Census Bureau, a US government agency, reported that the construction activities' value rose from $1,626.4 billion in 2021 to $1,792.9 billion in 2022, marking a growth rate of 10.2 percent. Consequently, this burgeoning construction industry is fueling the growth of the equipment rental market.

Which Companies Hold the Largest Share Across Different Construction Equipment Rental Market Segments?
Major companies operating in the construction equipment rental market include H&E Equipment Services Inc., Maxim Crane Works LLP, Boels Rentals NV, United Rentals Inc., Ashtead Group plc, Loxam Group, Herc Holdings Inc., Aktio Corporation, Kanamoto Co Ltd., Taiyokenki Rental Co. Ltd., Cramo Group, Ramirent PLC, Kiloutou SAS, Speedy Hire plc, Nishio Rent All Co. Ltd., The Hertz Corporation, Ahern Rentals Inc., Nikken Corporation, Sunstate Equipment Co. LLC, Neff Rental LLC, BlueLine Rental Holdings Inc., BigRentz Inc., Sunbelt Rentals Inc., The Home Depot Inc., Rentals ProContractor, Herc Rentals Inc., Aggreko plc, NES Rentals Holdings Inc., Romco Equipment Co. LLC, Mobile Mini Inc.

What Trends Are Driving Growth in The Construction Equipment Rental Market?
The increasing replacement of traditional apparatus with machinery equipped with telematics is a growing trend observed in the construction machinery sector. Telematics, employed in construction equipment for various functions such as GPS fleet tracking, enhancing fleet usage, protecting equipment against theft, bettering bill systems, and equipment usage among others. An instance is seen in February 2022 when Hitachi Construction Machinery, a Japan-based construction equipment manufacturer, unveiled a telematics system designed specifically for various types of construction machines. The new CTFleet Link system allows its clientele to monitor the positioning and performance of their Hitachi and non-Hitachi equipment via real-time web-based access. The system uses a bespoke API developed by Hitachi Construction Machinery, together with the Hitachi Application Programming Interface(API) from Global E Service, for data collection in almost real-time through the CTFleet Link telematics system.

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What Are the Emerging Geographies for The Construction Equipment Rental Market Growth?
North America was the largest region in the construction equipment rental market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the construction equipment rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Construction Equipment Rental Market?
2. What is the CAGR expected in the Construction Equipment Rental Market?
3. What Are the Key Innovations Transforming the Construction Equipment Rental Industry?
4. Which Region Is Leading the Construction Equipment Rental Market?

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