Construction and Industrial Equipment Rent Global Market Insights 2025, Analysis and Forecast to 2030, by Market Participants, Regions, Technology, Application, Product Type

Overview

The Construction and Industrial Equipment Rental Market is poised for significant growth, driven by the increasing demand for efficient equipment leasing in both residential and non-residential sectors. The global emphasis on sustainability and cost-effective operations is steering more companies towards renting rather than purchasing equipment outright.

Market Size

As of 2023, the Construction and Industrial Equipment Rental Market was valued at approximately $60 billion. It is projected to grow at a Compound Annual Growth Rate (CAGR) of around 7.5%, reaching an estimated size of $90 billion by 2030. This growth can be attributed to advancements in technology, increasing urbanization, and the need for temporary equipment during construction projects.

Share & Trends Analysis Report

By Product Type

• Aerial Work Platforms: This segment dominates the market with a share of about 25% in 2023 and is expected to grow significantly as safety regulations in construction increase.
• Earthmoving Equipment: Earthmoving machinery holds about 20% of the market. It is seeing consistent demand as infrastructure projects expand globally.
• General Equipment: This includes tools and machinery used across various construction sectors, contributing roughly 15% to the overall market.
• Material Handling: Representing around 10% of the market, material handling equipment is vital for efficient logistics in construction.
• Construction Equipment: Includes specialized equipment used for constructing buildings and other structures, contributing another 15%.
• Light Equipment: Accounts for about 10% of the market as lightweight tools become increasingly popular for smaller projects.
• Others: This includes niche products and accounts for 5% of the market share.

By Key Players

Major players in the construction and industrial equipment rental market include:

• Trane
• Carrier
• Daikin
• United Rentals
• Ashtead
• Aggreko
• Caterpillar
• Herc Rentals Inc.
• H&E Equipment Services
• Home Depot
• Ahern

By Process

The rental process in construction typically involves request-based rentals, contractual agreements, and onsite equipment management, ensuring adaptability to project demands. Companies are increasingly adopting blockchain and IoT technologies to streamline these processes.

By Application

• Residential Construction: This segment is anticipated to grow at a rate of 6%-8%, driven by new housing developments and renovations.
• Non-Residential Construction: Expected to witness the highest growth rate at around 8%-10%, fueled by commercial and infrastructure projects.
• Industrial: A stable sector, with growth projected at around 5%-7%, focusing on manufacturing and heavy industry.
• Others: Such as government projects, contributing to approximately 3% of the market.

By End-Use

Key end-use markets include construction, utilities, and infrastructure, with construction leading due to heightened urban development initiatives.

By Region

The regional analysis presents distinct trends:

• North America: The largest market, with a share of about 30%, is supported by extensive infrastructure projects and a strong rental culture.
• Europe: Holds around 25% of the market, with increasing focus on sustainability in construction driving rental demand.
• Asia-Pacific: Rapidly growing, accounting for about 28%, due to rising industrial activity and urbanization rates.
• Latin America: Faces moderate growth at around 6%, significantly from Brazil and Mexico.
• Middle East & Africa: Expected to see the fastest growth, at around 9% annually, driven by large-scale projects in the region.

Market News on Policy and Companies

Recent policies promoting infrastructure investment and renewable energy projects are set to enhance the construction equipment rental market. Significant investments made by players like United Rentals are aimed at expanding their fleet and adopting advanced rental management technologies. Moreover, ongoing efforts to reduce carbon emissions in construction have led to increased demand for electric and hybrid construction equipment.

Segment Forecasts: 2025 - 2030

Looking forward, the Construction and Industrial Equipment Rental Market is anticipated to expand across all segments as various trends unfold:

• Aerial Work Platforms: Expected to grow at a CAGR of 9%-11% due to cross-sector safety requirements.
• Earthmoving Equipment: Projected increase of 6%-8% in line with ongoing civil engineering projects.
• Material Handling: Anticipated growth rate of around 7% as e-commerce continues to drive logistic needs.
• Light Equipment: Expected growth of over 6% with demand rising for small-scale construction tools.
• Market Consolidation: An increase in mergers and acquisitions is predicted, improving fleet efficiency among leading companies.