Construction Equipment Rental Market Size, Share & Trends Analysis Report By Product (Earth Moving, Material Handling, Concrete & Road Construction), By Region, And Segment Forecasts, 2023 - 2030

Market Segmentation

• Construction Equipment Rental Product Outlook (Revenue, USD Billion, 2018 - 2030)
  • Earth Moving Machinery
  • Material Handling Machinery
  • Concrete and Road Construction Machinery
• Construction Equipment Rental Regional Outlook (Revenue, USD Billion, 2018 - 2030)
  • North America
    • North America Construction Equipment Rental market, by Product
      • Earth Moving Machinery
      • Material Handling Machinery
      • Concrete and Road Construction Machinery
    • U.S.
      • U.S. Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
    • Canada
      • Canada Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
  • Europe
    • Europe Construction Equipment Rental market, by Product
      • Earth Moving Machinery
      • Material Handling Machinery
      • Concrete and Road Construction Machinery
    • U.K.
      • U.K. Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
    • Germany
      • Germany Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
    • France
      • France Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
    • Italy
      • Italy Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
    • Spain
      • Spain Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
    • Russia
      • Russia Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
    • Rest of Europe
      • Rest of Europe Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
  • Asia Pacific
    • Asia Pacific Construction Equipment Rental market, by Product
      • Earth Moving Machinery
      • Material Handling Machinery
      • Concrete and Road Construction Machinery
    • China
      • China Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
    • India
      • India Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
    • Japan
      • Japan Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
    • Rest of Latin America
      • Rest of Latin America Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
  • Latin America
    • Latin America Construction Equipment Rental market, by Product
      • Earth Moving Machinery
      • Material Handling Machinery
      • Concrete and Road Construction Machinery
    • Brazil
      • Brazil Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
    • Mexico
      • Mexico Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
    • Rest of Latin America
      • Rest of Latin America Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
  • Middle East & Africa
    • Middle East & Africa Construction Equipment Rental market, by Product
      • Earth Moving Machinery
      • Material Handling Machinery
      • Concrete and Road Construction Machinery
    • South Africa
      • South Africa Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
    • Algeria
      • Algeria Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
    • Saudi Arabia
      • Saudi Arabia Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
    • Kenya
      • Kenya Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery
    • Rest of MEA
      • Rest of MEA Construction Equipment Rental market, by Product
        • Earth Moving Machinery
        • Material Handling Machinery
        • Concrete and Road Construction Machinery

Construction Equipment Rental Market Dynamics

Drivers: High Procurement Cost Of Construction Equipment

The initial procurement cost of construction equipment ranges from USD 5,000 for smaller lifting equipment to over USD 10,000,000 for larger cranes. The essential attachments and accessories further add to the overall cost of equipment. Moreover, once purchased, the owner has to spend heavily on maintaining the equipment as it undergoes severe wear and tear due to the rigorous nature of the work it has to undertake. Purchasing construction equipment can be beneficial for companies working on several long-term projects as well as for companies having a wider geographical reach. However, smaller contractors and individual customers prefer renting equipment based on the contracts they receive. On the contrary, renting the equipment allows contractors to avoid all the upfront costs incurred on procuring and maintaining the equipment. The lack of adequate capital required to own construction equipment is one of the most prominent reasons that has been driving the growth of the construction equipment rental market. At the same time, renting equipment is a preferred practice for operators looking to keep operational costs low while gaining access to construction equipment featuring the latest technology.

Technological Enhancements In Rental Equipment

Advances in technology, such as ADAS and infotainment, have contributed significantly toward enhancing the driving experience and ensuring safe and secure operations of the construction equipment. Rental companies, such as United Rentals and Herc Rentals, have upgraded their fleets with equipment featuring the latest telematics solutions for fleet management, productivity improvement, and proper utilization of the available equipment and manpower. Telematics systems connect the onboard sensors and onboard diagnostics with the GPS so that the equipment can be tracked, vital parameters regarding the performance of the equipment can be monitored and recorded, and valuable insights related to the health of the construction equipment can be obtained. This data can also be accessed through an online portal or via a mobile app whenever required. Telematics solutions can also help the users obtain the exact location of the rented equipment, trigger alerts for scheduled maintenance, track fuel consumption, protect the equipment against theft, set on/off timings of vehicles, and access the engines for running remote diagnostics.

Restraints: Construction Industry Prone To Unstable Demand

Various residential and non-residential construction activities are the major sources of revenue for the incumbents of the construction equipment rental market. It highly relies on the construction activities occurring in any particular region and remains vulnerable to the uncertainties associated with the demand for office buildings, institutional buildings, and other infrastructure. At the same time, legislative actions and regulatory changes also bring threats to the construction equipment rental market and can restrain the market growth over the forecast period. For instance, the Indian environmental laws, which prohibit utilizing agricultural and forest land for construction, may put several projects in jeopardy. Similarly, the Indian government has also imposed restrictions on extracting sand from riverbeds, thereby adversely affecting several projects, given that sand forms a vital raw material for any construction project.

What Does This Report Include?

This section will provide insights into the contents included in this construction equipment rental market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Construction equipment rental market qualitative analysis

• Industry overview

• Industry trends

• Market drivers and restraints

• Market size

• Growth prospects

• Porter’s analysis

• PESTEL analysis

• Key market opportunities prioritized

• Competitive landscape

  • Company overview

  • Financial performance

  • Product benchmarking

  • Latest strategic developments

Construction equipment rental market quantitative analysis

• Market size, estimates, and forecast from 2018 to 2030

• Market estimates and forecast for product segments up to 2030

• Regional market size and forecast for product segments up to 2030

• Market estimates and forecast for application segments up to 2030

• Regional market size and forecast for application segments up to 2030

• Company financial performance