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Construction Equipment Rental Market Analysis Report By Product, By Region And Segment Forecasts From 2020 To 2027

Report ID: MN17617436  |  Published: July 2020  |  No of Pages: 100
Format: Electronic (PDF)  |  Industry: Construction

Industry Insights

The global construction equipment rental market size was worth USD 92.9 billion in 2019. It is estimated to exhibit a CAGR of 4.9% from 2020 to 2027. Increasing mining and construction activities in emerging countries are attributing to the growth of the market. The advent of innovative technologies for mapping features, equipment service tracking, and the improvement of automated services are the latest trend in the market. OEMs offer technically advanced constructions at a moderate cost, which otherwise would be expensive to procure. This factor, in turn, is supplementing the growth of the rental services for construction equipment.

Technical advancements in the heavy machinery and automotive industry have led to the emergence of various new features in the construction equipment renting market. The market players are emphasizing introducing innovative solutions aimed at enhancing safety and increased performance. Further, they are focusing on developing equipment that requires less time in maintenance. Procurement of such advanced equipment incurs an exorbitant cost for small contractors and builders, thus, they prefer to rent them.

U.S construction equipment rental market

Renting of construction equipment saves overall cost as well as labor cost, operational cost, and maintenance cost. Further, it eliminates the cost of repair, checking, and periodic maintenance. Renting firms provide all these services as they aim to keep their equipment free from any defects. In addition, renting firms also offer support on-site, thereby, offering enhanced consumer experience. Major market players like Caterpillar Inc. provide quick responses even at a remote location by mobile vans.

Procuring new equipment in construction requires significantly high expenses. Various costs such as insurance, interests on loan, storage cost, licensing cost, and others are incurred during post-purchasing of equipment. Additional, equipment owners are responsible for transporting these pieces of equipment from one construction site to another. While renting services require significantly less expenditure, thereby, gaining traction among end-users.

Product Insights

Based on product, the market is categorized into material handling, concrete & road construction machinery, and earthmoving machinery. Among them, in 2019, the earthmoving machinery held the largest share in the market, while the concrete & road construction machinery category is anticipated to grow at the highest CAGR of over 6.0% over the forecast duration.

Earthmovers are widely used in various applications such as mining, construction, and agriculture. Some of the other equipment in this category are backhoe loaders, mini excavators, skid-steer loaders, and others. These products are also expected to be in demand over the forecast duration. These types of equipment are capable of working under extreme condition owing to their greater engine power and high load-carrying capacity.

The equipment for material handling is trailer-mounted cranes, crawler cranes, truck-mounted cranes, and others. Emerging countries are witnessing a significant demand for these pieces of equipment owing to the rise in the number of construction of skyscrapers and mega projects. Truck-mounted cranes acquire major share in the market owing to their easy mobility.

Further, concrete & road construction equipment is also anticipated to witness significant growth over the forecast period. Roads play a vital part in the development of a country by enabling better connectivity. Countries such as India and China are witnessing huge development of road construction activities. For example, the “One Belt, One Road” project will connect China with various European countries. Similarly, the Indian government initiatives “Bharatmala” is aimed at connecting major Indian cities through a single road. Such ongoing projects are estimated to create huge demand for construction equipment rental market in the next few years.

Regional Insights

APAC is estimated to register a CAGR of over 6% over the forecast duration and is likely to be a dominant region in the market over the forecast years. The region is witnessing rapid growth in the construction of metros, Special Economic Zones (SEZs), dams, highway constructions, airports, and hydroelectric projects, thereby, supplementing the growth of the market. China is a hub for manufacturing of construction equipment, primarily because of the easy availability of labor at low cost and advanced manufacturing capabilities. The country exports its pieces of machinery to various countries in Asia and Europe.

Global construction equipment rental market

In 2019, North America held the largest share with more than 48%. The regional growth is attributed to the presence of numerous players in the region. On the other hand, the growing residential and infrastructural construction activities are driving growth in the European region. While Middle East is witnessing increasing demand for excavators and loaders owing to increasing construction activities, which is further boosted by projects such as FIFA World Cup 2022, Vision 2030, Jeddah Metro, and King Abdullah Economic City.

Impact of COVID-19

Owing to the lockdown imposed following the COVID-19 outbreaks, several construction projects have been halted. The delay in the construction projects has adversely affected the construction equipment rental market. In addition, pandemic outbreaks have resulted in labor shortage as laborers across several countries started migrating to their native. Labor shortage adversely affected the ongoing construction activities, thereby, hampering the market growth. However, with relaxation in lockdown norms, various construction projects have resumed, albeit at a slow pace, this, in turn, is anticipated to supplement the market growth.

Construction Equipment Rental Market Share Insights

The market is concentrated and competitive with the major five players occupying maximum share in 2019. Players such as Herc Rentals Inc., Aktio Corp, United Rental, Ashtead Group, and Aggreko hold a significant share in the market. Companies are focusing on adding new equipment to their existing fleet and merger & acquisition to strengthen their position in the market. Introduction of technically advanced products that are fuel-efficient will play a key role in market development.

Cooper Equipment Rental Ltd in March 2019 acquired Prime Rentals Ltd while United Rentals acquired BlueLine Rental in September 2018. Frequent mergers & acquisitions are taking place as companies are aiming to acquire a larger customer base in the market.

Report Scope



The base year for estimation


Actual estimates/Historical data

2016 - 2018

Forecast period

2020 - 2027

Market representation

Revenue in USD Billion and CAGR from 2020 to 2027

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Country scope

U.S., Canada, U.K., Germany, France, Italy, Spain, China, India, Japan, Brazil, Mexico

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analysts working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as part of the customization.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Million Insights has segmented the global construction equipment rental market report on the basis of product and region:

• Product Outlook (Revenue, USD Billion, 2016 - 2027)
     • Earth Moving Machinery
     • Material Handling Machinery
     • Concrete & Road Construction Machinery

• Regional Outlook (Revenue, USD Billion, 2016 - 2027)
     • North America
         • The U.S.
         • Canada
     • Europe
         • The U.K.
         • Germany
         • France
         • Italy
         • Spain
     • The Asia Pacific
         • China
         • India
         • Japan
     • Latin America
         • Brazil
         • Mexico
     • Middle East & Africa

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