Press release
Construction Equipment Rental Market to Reach US$ 165.1 Billion by 2030 at 5.1% CAGR
Construction Equipment Rental Market
The global construction equipment rental market was valued at US$ 112.3 billion in 2022 and is projected to reach US$ 165.1 billion by 2030, registering a CAGR of 5.1% between 2024 and 2031, according to DataM Intelligence. Growing equipment purchase costs, the need for flexible project-based solutions, and advances in telematics, IoT integration, and online rental platforms are key factors driving market growth.
Rental companies are increasingly providing customized equipment configurations and tailored attachments to meet the specific needs of infrastructure projects, high-rise developments, and specialized industrial builds. By integrating IoT devices, telematics systems, and advanced sensors, rental fleets offer real-time tracking of usage, performance, location, fuel consumption, and operator safety, improving asset utilization and reducing downtime.
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Key Highlights from the Report
➤ Global market to grow at 5.1% CAGR, reaching US$ 165.1 billion by 2030
➤ Earthmoving machinery leads with 54.7% market share in 2024 due to strong demand in mining and infrastructure projects
➤ Concrete and road construction machinery projected to record highest growth rate during forecast period
➤ Internal combustion engine (ICE) equipment dominates market revenue, while electric equipment sees fastest growth from green regulation compliance
➤ Asia-Pacific leads with over 49% share, driven by urbanization and large-scale infrastructure projects in China and India
➤ Digital platforms enhance service visibility, streamline rentals, and support small-scale operators' market entry
Market Segmentation
By equipment type, earthmoving machinery-including excavators-holds the largest share. Demand is spurred by large-scale projects in mining, ports, road construction, and oil & gas sectors. ICE-powered equipment continues to lead due to global fuel availability and ease of operations across diverse infrastructure environments.
By power type, ICE machinery dominates the market in 2024, supported by widespread fueling infrastructure. However, electric-powered equipment is set for fastest growth, driven by stringent emissions standards and sustainability initiatives. California's 2035 mandate for half of heavy-duty trucks and mixers to be electric exemplifies this shift.
By application, concrete and road construction machinery is accelerating due to expanded road networks, urban redevelopment, and civil infrastructure projects such as India's Bharatmala highway scheme.
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Regional Insights
Asia-Pacific leads, holding a 49.7% share in 2024, fueled by rapid urbanization, major infrastructure investments, and cost-conscious construction firms favoring rentals over ownership. China's smart city initiatives and India's National Infrastructure Pipeline support robust growth for rental companies.
North America follows, with demand supported by U.S. infrastructure upgrades via the Bipartisan Infrastructure Law. Rental demand is strong across residential, commercial, and industrial construction projects, aided by digital transformation and emission-reducing rental fleets.
Europe is positioned as a lucrative rental market, especially in Germany, France, and the UK, where sustainability practices, high equipment uptime, and telematics adoption define competitive advantage. Green construction regulations further boost electric and hybrid rental fleet demand.
Market Dynamics
Market Drivers
Rising capital costs for new machinery, coupled with the adoption of telematics and IoT to enhance fleet efficiency, are driving rental growth. Demand for flexible, project-specific equipment solutions from varied construction sectors boosts market expansion.
Market Restraints
Regional disparities in infrastructure readiness for electric machinery and high maintenance costs for advanced rental equipment may slow adoption in some markets.
Market Opportunities
Rental companies can capitalize on customized fleet solutions, electric machinery offerings, and AI-driven predictive maintenance systems to differentiate their services. Expanding online and mobile rental marketplaces will widen accessibility and customer reach.
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Reasons to Buy the Report
✔ Comprehensive market forecasts by region, equipment type, and power source
✔ Insights into telematics adoption, fleet digitization, and IoT integration benefits
✔ Strategic analysis of opportunities in electric and low-emission rental fleets
✔ Competitive landscape covering global and regional rental industry leaders
✔ Regional deep-dive into infrastructure-led rental demand growth
Frequently Asked Questions (FAQs)
◆ How big is the construction equipment rental market in 2022 and projected in 2030?
◆ Who are the major players dominating the global rental industry?
◆ What is the projected CAGR for the market between 2024-2031?
◆ Which equipment type holds the largest share in the rental market?
◆ Which region leads the construction equipment rental market globally?
Company Insights
United Rentals Inc.
Kanmoto Co. Ltd.
Herc Rentals Inc.
Hitachi Construction Machinery Co., Ltd.
Caterpillar Inc.
Loxam Group
Liebherr
H&E Equipment Services, Inc.
Boels Rental
Ahern Rentals
Recent Developments:
Mar 2023 - American Rental Association forecasted U.S. rental market growth of 5.3% in 2023 driven by infrastructure investment and automation trends.
2023 - California approved mandate for 50% of heavy-duty industrial vehicles sold to be electric by 2035, boosting sustainable rental fleet demand.
Conclusion
The global construction equipment rental market is positioned for continued growth as companies shift from ownership to rental models to optimize costs, improve efficiency, and adopt greener technologies. With Asia-Pacific's infrastructure boom, North America's revitalization projects, and Europe's sustainability-led demand, rental firms embracing digital integration and specialized fleet services will see expanded opportunities and long-term market leadership.
Contact Us
Mr. Sai Kiran
DataM Intelligence 4market Research LLP Ground floor
DSL Abacus IT Park, Industrial Development Area
Uppal, Hyderabad, Telangana 500039
USA: +1 877-441-4866
Email: Sai.k@datamintelligence.com
Visit Our Website: https://www.datamintelligence.com
About Us
DataM Intelligence 4Market Research is a comprehensive market intelligence platform offering syndicated and customized reports along with expert consulting across multiple industries, including chemicals, healthcare, agriculture, food & beverages, and more. With extensive experience and a strategy-focused approach, DataM provides businesses and individuals with reliable market insights, statistical forecasts, and personalized research solutions to help them make informed decisions and successfully bring innovations to market.
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