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How is The Construction Equipment Rental Market Evolving And What Does the Future Hold?
The construction equipment rental market has shown robust growth in recent years, increasing from $105.1 billion in 2024 to $110.55 billion in 2025 at a compound annual growth rate (CAGR) of 5.2%. The historic market growth can be attributed to increased demand for construction projects, a growing need for cost optimization and efficiency in construction operations, increased competition among construction companies and equipment manufacturers, as well as the cyclical nature of the construction industry. Looking ahead, the construction equipment rental market size is anticipated to grow exponentially. The forecasted growth to $137.69 billion in 2029 is at a CAGR of 5.6%, attributed to increasing demand across various industries, sustainability trends, preference for operational flexibility, financial flexibility, and use of emerging technologies like telematics and IoT in construction equipment rental.
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What Factors Are Driving the Construction Equipment Rental Market?
The burgeoning construction industry is a major growth factor for the equipment rental market. Construction projects, spanning from urbanization initiatives to infrastructure development, heavily rely on equipment and machinery like tower cranes, bulk material handling, transit mixers, batching plants, and concrete pumps. Renting these pieces of equipment facilitates cost reduction on purchase and maintenance for contractors. Therefore, an upsurge in the construction industry invariably drives growth in the equipment rental market.
What Are Major Segments Within the Global Construction Equipment Rental Market?
• By Equipment: Earthmoving, Material Handling, Road Building And Concrete
• By Product: Backhoes, Excavators, Loaders, Crawler Dozers, Cranes, Concrete Pumps, Compactors, Transit Mixers, Concrete Mixers
• By Application: Residential, Commercial, Industrial
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Who are the Major Players In The Construction Equipment Rental Market?
Notable companies in the construction equipment rental market encompass 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 Emerging Trends Are Shaping the Construction Equipment Rental Market Landscape?
The integration of telematics into construction equipment holds a major trend. Telematics aids in GPS fleet tracking, maximizes fleet utilization, safeguards equipment from theft, improves billing and equipment utilization. An instance of this trend is the February 2022 launch of a telematics system by Hitachi Construction Machinery. This system focuses on mixed construction equipment fleets and is enabled to gather nearly real-time data.
Which is The Fastest Growing Region in The Construction Equipment Rental Market?
North America has been identified as the largest region in the construction equipment rental market in 2024. However, Asia-Pacific is forecasted to be the fastest-growing region.
What Does the Construction Equipment Rental Market Report 2025 Offer?
Construction equipment rental pertains to the service of outsourcing both small and large construction equipment required for the execution, completion, and maintenance of construction work. It saves contractors the cost of labor, new equipment, maintenance, and operational expenses. The Construction Equipment Rental Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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