Heavy Equipment Rental in the US - Industry Market Research Report

Heavy Equipment Rental in the US - Industry Market Research Report

Heavy Equipment Rental in the US

Companies in heavy equipment rental lease heavy construction and transportation equipment, ranging from excavators to airplanes. The industry's financial performance is subject to trends and activity in an array of downstream markets, including air, sea and rail transportation; highway, street and bridge construction; and oil exploration and drilling. In the years to 2023, increasing activity in downstream markets, particularly air and rail transportation, has supported revenue growth. In 2020, the COVID-19 outbreak caused a contraction in revenue, driven by a decline in industrial activity. Activity largely resumed in 2021 and 2022, caused by increased industrial output. In the years to 2023, revenue increased at a CAGR of 1.3% to $52.6 billion, including a decline of 2.5% in 2023

Industry operators rent or lease heavy construction, off-highway transportation, mining and forestry machinery and equipment without attached labor. Operators in this industry may rent or lease products including aircrafts, railcars, steamships, tugboats, bulldozers, earthmoving equipment, cranes or well-drilling machinery and equipment.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."