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Construction Equipment Rental Market Size

  • Report ID: GMI773
  • Published Date: Jan 2023
  • Report Format: PDF

Construction Equipment Rental Market Size

Construction Equipment Rental Market size surpassed USD 130 billion in 2022 and is anticipated to register 4% CAGR from 2023 to 2032, resulting from the high purchasing cost of new construction equipment.


Renting is gaining popularity among contractors since on-site maintenance, repair, and replacement provisions are now included in rental agreements, which helps businesses reduce expenditures, maintenance expenses, and repair costs. Equipment rental firms are leveraging potential business opportunities by expanding their firms through acquisitions or partnerships to broaden their global reach and by strategically incorporating technical upgrades into their fleet.


Additionally, the emerging trend of mass migration of people from rural to urban areas in the Middle East region has accelerated the improvement of infrastructure amenities. The GCC's urbanization rate is set to rise from 85% in 2022 to 90% by 2050. Furthermore, renting equipment is found to lower carbon emissions by 30 to 60% during the life of the equipment compared to ownership. The advent of electrified and miniaturized machinery emphasizes the trend of sustainability, which is likely to boost market revenue by 2032.


Lack of skilled labor and operators to impede the industry growth

The boom in the construction sector is resulting in an immediate surge in the demand for highly trained labor, which may slow down the construction equipment rental market expansion. However, businesses are increasingly investing in advanced technologies, including AI and industrial robotics and are also implementing strategies to train their staff in order to promote productivity, which is likely to raise the number of skilled personnel in the business scenario.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The industry size of construction equipment rental was worth USD 130 billion in 2022 and is projected to register 4% CAGR during 2023 to 2032 owing to the high purchasing cost of new construction equipment.

The material handling & cranes segment amassed over USD 15 billion revenue in 2022 due to the rising need of material handling equipment for effectively handling bulk materials because of rapid industrialization.

The Europe market is anticipated to account for more than 25% of the overall industry revenue by 2032 attributed to the booming construction sector with large and small-scale commercial and residential activities.

Caterpillar Inc., Loxam Group, H&E Equipment Services, Al Faris Equipment Rental, Hinkel Equipment Rental Associates, Aktio Corporation, Boels Rental, Kanamoto Co. Ltd. and United Rentals, Inc., among others are the major players in the competitive industry landscape.

Construction Equipment Rental Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 20
  • Tables & Figures: 255
  • Countries covered: 16
  • Pages: 250
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