Forklift Rental Market to Reach USD 7.35 Billion by 2030, Driven by E-commerce Warehousing and Shift Toward Rental Models - Mordor Intelligence

Introduction
The Forklift Rental Market is witnessing strong and sustained growth, with the market size projected to reach USD 7.35 billion by 2030, up from USD 5.39 billion in 2025, registering a CAGR of 6.39% during the forecast period. Growth is primarily driven by the rapid expansion of e-commerce warehousing, rising demand for flexible material handling solutions, and a growing preference for operational expenditure models over capital-intensive equipment ownership. The increasing adoption of electric forklifts and digital fleet management solutions further supports market expansion. Asia-Pacific holds the largest market share, supported by industrial growth and expanding logistics infrastructure, while other regions continue to show stable demand across warehousing and industrial applications.

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Key Trends in the Forklift Rental Market

Expansion of E-commerce and Warehousing Operations: The rise in e-commerce activities has led to increased demand for short-term and flexible forklift rental solutions, particularly in large fulfillment centers and third-party logistics warehouses.

Shift from Ownership to Rental Models: Companies are increasingly opting for forklift rentals to reduce upfront capital investment, manage cash flow efficiently, and access modern equipment without long-term ownership risks.

Rising Adoption of Electric Forklifts: Electric forklifts account for a significant share of the rental fleet due to lower operating costs, compliance with emission regulations, and suitability for indoor warehouse operations.

Growth in Long-Term Rental Contracts: While short-term rentals dominate market revenue, long-term rental contracts are growing at a faster rate as customers seek predictable operating costs and dedicated fleet availability.

Integration of Digital Fleet Management: The use of telematics, fleet optimization software, and predictive maintenance tools is enhancing equipment utilization, reducing downtime, and improving rental service efficiency.

Market Segmentation

By Load Capacity
-Less than 3.5 Tons
-3.6 to 10 Tons
-More than 10 Tons

By Rental Duration
-Short-Term Rental (Less Than 12 Months)
-Long-Term Rental (More Than 12 Months)

By Power Source
-Electric
-Internal Combustion (Diesel/LPG)
-Hybrid and Hydrogen

By Truck Class
-Class III Electric Hand Trucks
-Class II Narrow Aisle Trucks
-Class I Electric Rider Trucks and Others

By End-Use Industry
-Warehousing and Logistics
-E-commerce
-Manufacturing
-Construction
-Food and Beverage
-Other Industries

By Geography
-Asia-Pacific
-North America
-Europe
-Rest of the World

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Major Players

The Forklift Rental Market is moderately fragmented, with the presence of global equipment manufacturers and specialized rental service providers. Key companies operating in the market include:

Caterpillar Inc.

Toyota Industries Corporation

Crown Equipment Corporation

Sunbelt Rentals, Inc.

Combilift Depot

These players compete based on fleet size, service coverage, rental flexibility, and integration of advanced fleet management technologies.

Conclusion

The Forklift Rental Market is positioned for steady growth through 2030, supported by increasing warehouse automation, expanding e-commerce logistics, and the growing preference for rental-based material handling solutions. Electric forklifts and long-term rental contracts are shaping future demand patterns, while Asia-Pacific continues to serve as the primary growth engine. Rental providers focusing on fleet electrification, digital fleet management, and scalable service offerings are expected to strengthen their competitive position in the evolving market landscape.

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Get More insights: https://www.mordorintelligence.com/industry-reports/global-automobile-rental-and-leasing-market?utm_source=openpr


Electric Car Rental Market: The Electric Car Rental Market report analyzes the industry across multiple segments, including vehicle type such as battery electric vehicles, plug-in hybrid electric vehicles, and other categories, along with body styles that include hatchbacks, sedans, and additional variants. The market is further segmented by customer type, covering leisure and tourism users among others, as well as by booking channel through online and offline platforms. Analysis also extends to rental duration, ranging from short-term rentals to longer periods, price tiers such as budget and economy segments, and end-use purposes including local commuting and other applications. Geographic segmentation is included to highlight regional trends, and market forecasts are presented in terms of value, measured in USD.

Get More insights: https://www.mordorintelligence.com/industry-reports/electric-car-rental-market?utm_source=openpr


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Get More insights: https://www.mordorintelligence.com/industry-reports/car-rental-market?utm_source=openpr

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