Dublin, Jan. 15, 2025 (GLOBE NEWSWIRE) — The “Construction Equipment Rental – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Construction Equipment Rental was estimated at US$129.2 Billion in 2023 and is projected to reach US$189.4 Billion by 2030, growing at a CAGR of 5.6% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the construction equipment rental market is driven by several factors, including the rising demand for flexible and cost-effective construction solutions, advancements in equipment technology, and economic pressures on construction companies. With the high cost of purchasing and maintaining heavy machinery, many construction firms prefer renting to manage budgets more effectively, especially on short-term or specialized projects. Technological advancements in telematics, GPS, and IoT have improved equipment management, enabling construction companies to monitor performance, reduce maintenance costs, and increase equipment efficiency, making rentals more attractive and easier to manage.
The push for sustainable construction practices has also increased demand for electric and hybrid equipment, which is often rented to reduce emissions and noise pollution, particularly in urban projects. Expanding urbanization and infrastructure development, particularly in emerging markets, have spurred demand for construction equipment rentals as governments and companies invest in large-scale projects that require temporary equipment solutions.
Furthermore, economic uncertainty and budget constraints have made rental options appealing, allowing companies to access the latest machinery without large capital investments. Together, these factors contribute to the robust growth of the construction equipment rental market, as the industry seeks efficient, sustainable, and scalable solutions to meet diverse project needs.
What Are the Key Applications of Construction Equipment Rental Across Project Types?
Construction equipment rental supports various applications across multiple types of construction projects, each benefiting from the flexibility and cost-effectiveness of rental models. In large infrastructure projects, such as roads, bridges, and airports, heavy machinery like excavators, loaders, and concrete mixers are essential for site preparation, grading, and materials handling. The rental model allows companies to scale their equipment needs as project phases progress, optimizing resource allocation without committing to large purchases. In commercial construction, cranes and aerial lifts are widely rented for high-rise construction and maintenance, providing reliable access solutions for different building heights and structures.
Residential construction projects commonly rent smaller equipment, such as backhoes, skid steer loaders, and compact excavators, which are ideal for limited spaces and quick on-site adjustments. For specialized projects, such as demolition or tunneling, companies rent specialized machinery like breakers, drilling rigs, and hydraulic excavators that provide the necessary power and precision for complex tasks. The rental model also supports landscaping, pipeline construction, and utility maintenance, where equipment needs vary seasonally. These applications demonstrate the adaptability of construction equipment rental, which enables efficient, cost-effective operations across diverse construction settings.
How Are Technological Advancements Impacting the Construction Equipment Rental Market?
Technological advancements are significantly shaping the construction equipment rental market, making rental options more efficient, versatile, and user-friendly. The introduction of IoT and telematics has enabled real-time tracking of rented equipment, allowing companies to monitor fuel usage, maintenance needs, and machine location, which improves fleet management and minimizes downtime. Advanced GPS and sensor technology also support predictive maintenance, alerting rental providers and users of potential mechanical issues before they lead to costly breakdowns. This preventive approach enhances productivity by reducing unexpected downtime and ensuring that equipment is in optimal condition during use.
The rise of electric and hybrid construction equipment is also impacting the rental market, as companies seek eco-friendly and fuel-efficient options for their projects. These machines offer lower emissions, reduced noise levels, and fuel savings, making them suitable for urban construction and sustainable projects.
Additionally, digital platforms and mobile apps are making equipment rental more accessible, allowing users to browse inventory, compare pricing, book rentals, and track usage in real time. Together, these technological advancements enhance the efficiency, transparency, and environmental friendliness of equipment rental, supporting the industry’s shift toward digital and sustainable solutions.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Construction Equipment Rental market such as Ahern Rentals, Inc., Aktio Corporation, Ashtead Group Plc, Boels Rental, Cramo Group and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 83 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $129.2 Billion |
| Forecasted Market Value (USD) by 2030 | $189.4 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Construction Equipment Rental – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Increasing Demand for Cost-Effective Solutions in Construction Expands Market for Rental Equipment Across Sectors
- Rising Trend of Renting over Owning in Capital-Intensive Industries Strengthens Business Case for Construction Equipment Rental
- Growth of Infrastructure Projects and Urban Development Creates Demand for Short-Term Equipment Rentals in Civil Construction
- Increasing Focus on Reducing Operational Costs Drives Adoption of Rental Equipment for Temporary and Project-Based Needs
- Expansion of Emergency and Backup Solutions Spurs Demand for Rental Equipment in Response to Equipment Downtime
- Rising Demand for Specialized Equipment in Heavy Construction Supports Market for Short-Term, Specialized Rentals
- Advancements in Telematics and IoT Propel Growth in Smart, Connected Equipment for Efficient Rental Management
- Growing Emphasis on Fuel Efficiency and Low-Emission Equipment Drives Demand for Eco-Friendly Rental Options
- Increasing Adoption of On-Demand and Subscription-Based Rental Models Expands Flexibility in Equipment Access
- Expansion of Renewable Energy Projects Drives Demand for Rental Equipment in Solar and Wind Farm Construction
- Increasing Use of Predictive Maintenance Technology in Rentals Supports Market for Low-Maintenance, Reliable Equipment
- Growing Construction of Modular and Prefabricated Buildings Expands Market for Compact and Specialized Rental Equipment
- Rising Interest in Heavy Machinery with Remote Monitoring Drives Demand for Rental Equipment with Telemetry Capabilities
FOCUS ON SELECT PLAYERS:Some of the 22 companies featured in this Construction Equipment Rental market report include
- Ahern Rentals, Inc.
- Aktio Corporation
- Ashtead Group Plc
- Boels Rental
- Cramo Group
- H&E Equipment Services, Inc.
- Herc Holdings Inc.
- Kanamoto Co., Ltd.
- Kiloutou
- Loxam Sas
For more information about this report visit https://www.researchandmarkets.com/r/np0pd6
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- Construction Equipment Rental Market
