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General Equipment Rental Services Market Set for Strong Growth as Construction, Events, and Industrial Outsourcing Expand Globally
General Equipment Rental Services Market
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Introduction
The global General Equipment Rental Services Market is experiencing rapid expansion as businesses increasingly shift from equipment ownership to rental-based models. Renting equipment-ranging from construction machinery and power tools to industrial lifts, generators, and event equipment-offers flexibility, reduces capital expenditure, and minimizes maintenance costs. This trend is accelerating across construction, manufacturing, logistics, mining, healthcare, and event management sectors.
As companies prioritize operational efficiency and asset-light strategies, rental services are becoming a core component of modern project planning and industrial workflows.
Key Takeaways
• Renting reduces upfront capital investment and supports flexible operations.
• Demand is rising sharply in construction, events, and industrial services.
• Equipment rental helps companies eliminate repair, maintenance, and storage costs.
• Digital rental platforms and app-based booking systems are increasing adoption.
• Small contractors and SMEs are the fastest-growing customer segment.
Market Story - Why the Market Is Growing
The shift from ownership to rental is driven by economic and operational advantages. Organizations prefer renting because it offers:
• Cost savings on purchase, insurance, repair, and depreciation.
• Quick access to a wide range of specialized machinery.
• Scalability, allowing companies to upgrade or downgrade equipment as needed.
• Zero maintenance responsibility, improving productivity.
• Flexibility for short-term projects, events, and seasonal work.
Growing infrastructure development in Asia-Pacific, rising home renovation trends, and global expansion of manufacturing are further strengthening the market.
Market Segmentation
By Equipment Type
• Construction Machinery (Excavators, Loaders, Cranes)
• Power & HVAC Equipment (Generators, Air Compressors, Chillers)
• Material Handling Equipment (Forklifts, Pallet Trucks)
• Industrial Tools & Machinery
• Event & Entertainment Equipment
• Landscaping & Agricultural Equipment
• Cleaning & Facility Management Equipment
Insight: Construction and material-handling equipment dominate due to heavy usage across global projects.
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By Rental Duration
• Short-Term Rental
• Long-Term Rental
• Project-Based Rental
• Seasonal Rental Agreements
By End User
• Construction & Infrastructure
• Manufacturing & Industrial Plants
• Logistics & Warehousing
• Oil & Gas, Mining
• Event Management Companies
• Commercial Facilities
• Residential Users (DIY, Home Renovation)
By Service Provider
• Direct Rental Companies
• Online/App-Based Rental Platforms
• Equipment Dealers Offering Rental Services
• Specialized Industrial Rental Firms
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Market Growth Rate
The General Equipment Rental Services Market is projected to grow at a CAGR of 6% to 9% from 2024 to 2034. Growth is powered by infrastructure development, rising construction activities, the global asset-light business model trend, and increasing adoption of digital rental platforms.
Recent Developments
• Launch of AI-enabled rental management platforms with real-time equipment tracking.
• Sustainability-focused rental options reducing waste and extending machine lifecycles.
• Expansion of hybrid and electric rental fleets for environmental compliance.
• Partnerships between OEMs and rental firms for bundled service offerings.
• Increasing investment from private equity in large rental companies.
Key Players
• United Rentals
• Ashtead Group (Sunbelt Rentals)
• Herc Rentals
• Loxam Group
• Nishio Rent All
• Kanamoto Co. Ltd.
• H&E Equipment Services
• Aggreko
• Caterpillar Rental Services
• Boels Rental
• Ahern Rentals
• BlueLine Rental
• Coates Hire
• Rental Solutions & Services
• Regional and local equipment rental companies worldwide
Key Market Drivers
• Increasing construction and infrastructure spending.
• Cost-efficiency and flexibility of rental over ownership.
• Digitalization of the rental ecosystem (apps, tracking, availability checks).
• Short-term project demand in events, repair, and maintenance activities.
• Growing preference among SMEs for asset-light operations.
Conclusion
The general equipment rental services market is set for steady long-term growth as industries prioritize operational flexibility, cost
savings, and access to high-performance machinery. Companies offering diverse fleets, strong service networks, competitive pricing, and digital rental solutions will dominate the market over the next decade.
This report is also available in the following languages : Japanese (一般機器レンタルサービス市場), Korean (일반 장비 임대 서비스 시장), Chinese (通用设备租赁服务市场), French (Marché des services de location de matériel général), German (Markt für allgemeine Gerätevermietungsdienste), and Italian (Mercato dei servizi di noleggio di attrezzature generali), etc.
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