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Construction Equipment Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

February 2023 | 143 pages | ID: CB4B8AB93393EN
IMARC Group

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The global construction equipment rental market size reached US$ 109.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 153.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.59% during 2023-2028.

Construction equipment rental refers to the practice of leasing heavy machinery for earthmoving, material handling, concrete mixing and performing related tasks. There are majorly two types of equipment rental models available in the market. The wet hiring model involves the rental of construction equipment along with personnel to operate and maintain the equipment. On the other hand, under the dry hiring model, the equipment is operated and maintained by in-house specialists of the enterprise. Renting is more cost-effective as it involves paying a lower maintenance fee and fewer technical charges. This practice also aids the organization in evading initial purchase costs, market fluctuations, depreciation and storage issues in comparison to purchasing first-hand equipment.

Construction Equipment Rental Market Trends:
The thriving construction industry across the globe, along with the increasing investments in infrastructural development, is one of the key factors driving the growth of the market. With rapid population expansion and growing consumer expenditure capacity, there has emerged an imminent need for the evolution of the residential and public infrastructural sectors. Consequently, governments of various countries, along with numerous private stakeholders, are investing significantly and undertaking projects for an overall framework development of their respective economies. Additionally, the emerging trend of automation in the construction industry is another major growth-inducing factor. Rental companies are now providing technologically advanced machinery that is equipped with artificial intelligence (AI), along with professional operators and drivers. This aids in reducing the overall costs for the lessee/organization, thus enhancing operational efficiency. Other factors, including rapid urbanization, the increasing trend of smart cities, and the development of advanced equipment with sustainable and eco-friendly features, are projected to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global construction equipment rental market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on equipment type, propulsion system and application.

Breakup by Equipment Type:

Earthmoving
Excavator
Loader
Backhoe
Motor Grader
Others
Material Handling
Crawler Crane
Trailer-Mounted Crane
Truck-Mounted Crane
Concrete and Road Construction

Breakup by Propulsion System:

Electric
ICE

Breakup by Application:

Residential
Commercial
Industrial

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Ahern Rentals Inc., Boels Rental, Caterpillar Inc., Finning International Inc., H&E Equipment Services Inc., Herc Rentals Inc., Hitachi Construction Machinery Co. Ltd. (Hitachi Ltd.), Liebherr-International AG, Nishio Rent All Vietnam Co. Ltd, Ramirent Oy, United Rentals Inc. and Kanamoto Co. Ltd.

Key Questions Answered in This Report

1. What was the size of the global construction equipment rental market in 2022?
2. We expect the global construction equipment rental market to exhibit a CAGR of 5.59% during 2023-2028?
3. What are the key factors driving the global construction equipment rental market?
4. What has been the impact of COVID-19 on the global construction equipment rental market?
5. What is the breakup of the global construction equipment rental market based on the equipment type?
6. What is the breakup of the global construction equipment rental market based on the propulsion system?
7. What are the key regions in the global construction equipment rental market?
8. Who are the key players/companies in the global construction equipment rental market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL CONSTRUCTION EQUIPMENT RENTAL MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY EQUIPMENT TYPE

6.1 Earthmoving
  6.1.1 Market Trends
  6.1.2 Key Segments
    6.1.2.1 Excavator
    6.1.2.2 Loader
    6.1.2.3 Backhoe
    6.1.2.4 Motor Grader
    6.1.2.5 Others
  6.1.3 Market Forecast
6.2 Material Handling
  6.2.1 Market Trends
  6.2.2 Key Segments
    6.2.2.1 Crawler Crane
    6.2.2.2 Trailer-Mounted Crane
    6.2.2.3 Truck-Mounted Crane
  6.2.3 Market Forecast
6.3 Concrete and Road Construction
  6.3.1 Market Trends
  6.3.2 Market Forecast

7 MARKET BREAKUP BY PROPULSION SYSTEM

7.1 Electric
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 ICE
  7.2.1 Market Trends
  7.2.2 Market Forecast

8 MARKET BREAKUP BY APPLICATION

8.1 Residential
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Commercial
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 Industrial
  8.3.1 Market Trends
  8.3.2 Market Forecast

9 MARKET BREAKUP BY REGION

9.1 North America
  9.1.1 United States
    9.1.1.1 Market Trends
    9.1.1.2 Market Forecast
  9.1.2 Canada
    9.1.2.1 Market Trends
    9.1.2.2 Market Forecast
9.2 Asia-Pacific
  9.2.1 China
    9.2.1.1 Market Trends
    9.2.1.2 Market Forecast
  9.2.2 Japan
    9.2.2.1 Market Trends
    9.2.2.2 Market Forecast
  9.2.3 India
    9.2.3.1 Market Trends
    9.2.3.2 Market Forecast
  9.2.4 South Korea
    9.2.4.1 Market Trends
    9.2.4.2 Market Forecast
  9.2.5 Australia
    9.2.5.1 Market Trends
    9.2.5.2 Market Forecast
  9.2.6 Indonesia
    9.2.6.1 Market Trends
    9.2.6.2 Market Forecast
  9.2.7 Others
    9.2.7.1 Market Trends
    9.2.7.2 Market Forecast
9.3 Europe
  9.3.1 Germany
    9.3.1.1 Market Trends
    9.3.1.2 Market Forecast
  9.3.2 France
    9.3.2.1 Market Trends
    9.3.2.2 Market Forecast
  9.3.3 United Kingdom
    9.3.3.1 Market Trends
    9.3.3.2 Market Forecast
  9.3.4 Italy
    9.3.4.1 Market Trends
    9.3.4.2 Market Forecast
  9.3.5 Spain
    9.3.5.1 Market Trends
    9.3.5.2 Market Forecast
  9.3.6 Russia
    9.3.6.1 Market Trends
    9.3.6.2 Market Forecast
  9.3.7 Others
    9.3.7.1 Market Trends
    9.3.7.2 Market Forecast
9.4 Latin America
  9.4.1 Brazil
    9.4.1.1 Market Trends
    9.4.1.2 Market Forecast
  9.4.2 Mexico
    9.4.2.1 Market Trends
    9.4.2.2 Market Forecast
  9.4.3 Others
    9.4.3.1 Market Trends
    9.4.3.2 Market Forecast
9.5 Middle East and Africa
  9.5.1 Market Trends
  9.5.2 Market Breakup by Country
  9.5.3 Market Forecast

10 SWOT ANALYSIS

10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats

11 VALUE CHAIN ANALYSIS

12 PORTERS FIVE FORCES ANALYSIS

12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes

13 PRICE ANALYSIS

14 COMPETITIVE LANDSCAPE

14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
  14.3.1 Ahern Rentals Inc.
    14.3.1.1 Company Overview
    14.3.1.2 Product Portfolio
  14.3.2 Boels Rental
    14.3.2.1 Company Overview
    14.3.2.2 Product Portfolio
  14.3.3 Caterpillar Inc.
    14.3.3.1 Company Overview
    14.3.3.2 Product Portfolio
    14.3.3.3 Financials
    14.3.3.4 SWOT Analysis
  14.3.4 Finning International Inc.
    14.3.4.1 Company Overview
    14.3.4.2 Product Portfolio
    14.3.4.3 Financials
    14.3.4.4 SWOT Analysis
  14.3.5 H&E Equipment Services Inc.
    14.3.5.1 Company Overview
    14.3.5.2 Product Portfolio
    14.3.5.3 Financials
  14.3.6 Herc Rentals Inc.
    14.3.6.1 Company Overview
    14.3.6.2 Product Portfolio
  14.3.7 Hitachi Construction Machinery Co. Ltd. (Hitachi Ltd.)
    14.3.7.1 Company Overview
    14.3.7.2 Product Portfolio
    14.3.7.3 Financials
    14.3.7.4 SWOT Analysis
  14.3.8 Liebherr-International AG
    14.3.8.1 Company Overview
    14.3.8.2 Product Portfolio
    14.3.8.3 SWOT Analysis
  14.3.9 Nishio Rent All Vietnam Co. Ltd
    14.3.9.1 Company Overview
    14.3.9.2 Product Portfolio
  14.3.10 Ramirent Oy
    14.3.10.1 Company Overview
    14.3.10.2 Product Portfolio
  14.3.11 United Rentals Inc.
    14.3.11.1 Company Overview
    14.3.11.2 Product Portfolio
    14.3.11.3 Financials
    14.3.11.4 SWOT Analysis
  14.3.12 Kanamoto Co. Ltd.
    14.3.12.1 Company Overview
    14.3.12.2 Product Portfolio
    14.3.12.3 Financials

LIST OF TABLES

Table 1: Global: Construction Equipment Rental Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Construction Equipment Rental Market Forecast: Breakup by Equipment Type (in Million US$), 2023-2028
Table 3: Global: Construction Equipment Rental Market Forecast: Breakup by Propulsion System (in Million US$), 2023-2028
Table 4: Global: Construction Equipment Rental Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 5: Global: Construction Equipment Rental Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Construction Equipment Rental Market: Competitive Structure
Table 7: Global: Construction Equipment Rental Market: Key Players

LIST OF FIGURES

Figure 1: Global: Construction Equipment Rental Market: Major Drivers and Challenges
Figure 2: Global: Construction Equipment Rental Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Construction Equipment Rental Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Construction Equipment Rental Market: Breakup by Equipment Type (in %), 2022
Figure 5: Global: Construction Equipment Rental Market: Breakup by Propulsion System (in %), 2022
Figure 6: Global: Construction Equipment Rental Market: Breakup by Application (in %), 2022
Figure 7: Global: Construction Equipment Rental Market: Breakup by Region (in %), 2022
Figure 8: Global: Construction Equipment Rental (Earthmoving) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Construction Equipment Rental (Earthmoving) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Construction Equipment Rental (Material Handling) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Construction Equipment Rental (Material Handling) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Construction Equipment Rental (Concrete and Road Construction) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Construction Equipment Rental (Concrete and Road Construction) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Construction Equipment Rental (Electric) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Construction Equipment Rental (Electric) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Construction Equipment Rental (ICE) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Construction Equipment Rental (ICE) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Construction Equipment Rental (Residential) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Construction Equipment Rental (Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Construction Equipment Rental (Commercial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Construction Equipment Rental (Commercial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Construction Equipment Rental (Industrial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Construction Equipment Rental (Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: North America: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: North America: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: United States: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: United States: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Canada: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Canada: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Asia-Pacific: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Asia-Pacific: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: China: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: China: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Japan: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Japan: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: India: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: India: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: South Korea: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: South Korea: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Australia: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Australia: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Indonesia: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Indonesia: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Others: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Others: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Europe: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Europe: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Germany: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Germany: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: France: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: France: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: United Kingdom: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: United Kingdom: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Italy: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Italy: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Spain: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Spain: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Russia: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Russia: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Others: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Others: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Latin America: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Latin America: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Brazil: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Brazil: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Mexico: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Mexico: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Others: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Others: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Middle East and Africa: Construction Equipment Rental Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Middle East and Africa: Construction Equipment Rental Market: Breakup by Country (in %), 2022
Figure 72: Middle East and Africa: Construction Equipment Rental Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Global: Construction Equipment Rental Industry: SWOT Analysis
Figure 74: Global: Construction Equipment Rental Industry: Value Chain Analysis
Figure 75: Global: Construction Equipment Rental Industry: Porter's Five Forces Analysis


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