Construction Equipment Rental Market Size, Share, Trends, Companies | Industry Report (2018 - 2026)

Construction Equipment Rental Market Size ‚ Segmented by Vehicle Type (Earth Moving Equipment, Material Hnadling), Drive Type (IC, Hybrid Drive), and Geography ‚ Growth, Trends, and Forecast (2019 - 2024)

The global construction equipment rental market is expected to reach USD 155.17 billion by 2024, registering a CAGR of 4.67%, during the forecast period 2019-2024. The report is segmented by Vehicle type (Cranes, Backhoe, Loaders, Excavators, Dump Trucks), Drive type (IC Engine, Hybrid Drive), and Region.


Construction Equipment Rental Market - Market Summary

Study Period:


Base year:


Fastest growing market:

Asia Pacific

Largest market:

Asia Pacific

Key Players:


Market Overview

The global construction equipment rental market is expected to reach USD 155.17 billion by 2024, registering a CAGR of 4.67%, during the forecast period 2019-2024. Some of the major factors driving and restricting the growth of the market are as follows –

  • One of the major factor driving the growth of the market is the growing construction industry, especially in developing countries, owing to numerous growth opportunities in infrastructure, residential, and non-residential sectors. For instance, rise in construction of multi-family houses (with the growing trend of nuclear families); and increasing investments in construction of roads, highways, smart cities, metros, bridges, and expressways due to growing population and urbanization.
  • Growing trend towards automation is expected to drive the growth of the market
  • However, factor such as stringent emission regulations for construction machineries is expected to hinder the growth of the market.

Scope of the Report

By Vehicle Type

Earthmoving Equipment





Material Handling


Dump Trucks

By Drive Type

IC Engine


Hybrid Drive


By Region

North America

United States



Rest of Mexico



United Kingdom




Rest of Europe






Rest of Asia-Pacific (including ASEAN Countries)

South America



Rest of South America

Middle East and Africa

United Arab Emirates

South Africa

Rest of Middle East and Africa

Key Market Trends

Excavators dominated the Earthmoving Equipment Segment

  • The excavators' segment in the global construction equipment rental market was valued at USD 26.81 billion in 2017.
  • Excavators are typically of two types, namely wheeled excavators and crawler excavators. Among them, crawler excavators covered a major share of more than 70% of the global excavator rental market in 2017.
    • As most of the rental companies purchased a low-cost crawler excavator over high cost wheeled excavators, because former equipment offered high stability during digging operations on rough or uneven terrains, compared to that of wheeled excavators.
  • However, the operating cost of wheeled excavators have been less compared to that of crawler excavators, as worn out of crawler’s undercarriages and it's replacing or refurbishing are an expensive and time-consuming task. Thus, some regions have started adopted usage of wheeled excavators in the construction projects majorly since 2010.
    • Europe ranks top in the usage of wheeled excavators compared to the United States. As most of the work done in Europe takes place in urbanized areas while in the United States, work projects included majorly clearing land and digging.
    • While, in Asia-Pacific and Middle-East & Africa, the usage of excavators have been covering more than 55% of the total construction equipment rental demand during 2015-2017. In the above regions, the majority of the excavators used were crawler-type and very few operations in construction job site preferred wheeled excavators, especially compact wheeled excavators.
  • With growing infrastructure developments across the globe, the need of excavators identified in almost every construction projects. Thus, many rental companies across the globe, continuously invest in purchasing new excavators to keep the average age of its excavator fleet at a potential of 2 to 3 years, to capture the wide customers demand, who are looking for advanced and efficient excavators.
    • For instance, Theisen Baumaschinen Mietpark GmbH & Co KG, one of the leading construction equipment rental companies in Germany, has recently purchased 32 new wheeled (12 units) and crawler excavators (20 units) from Doosan in 2018, to strengthen its rental equipment fleet for regional Theisen centres across Germany and also in Vienna in Austria.
Excavators Rental Market (2017-2024)

Regional Trends

The Asia-Pacific construction equipment rental market dominated the global market, with a market share of 36.70% in 2018.

The Asia-Pacific is one of the largest markets that has witnessed boom in the construction and infrastructural development, because of the growing emphasis by the governments on developing infrastructure for a sustainable economy. This region has witnessed growth in number of Special Economic Zones (SEZs), airports, metro construction, highway constructions, dams, hydroelectric projects, etc., in order to sustain high-level industrial activities, better connectivity and growing energy demand. As a result, many international players are beginning to invest and are setting up manufacturing facilities and distribution centers in the region to meet the growing demand and to capture the regional market. Construction machinery manufacturers such as Liebherr, Caterpillar, Hitachi, Sumitomo Corporation offering rental services face intense competition from numerous domestic and regional players, owing to the competitive pricing and technologically advanced equipment availability.

Construction Equipment Rental Market - Market Size by Region (2018)

Competitive Landscape

The global construction machinery market is characterized by the presence of numerous domestic and regional players, resulting in a highly fragmented market environment. The eleven international and regional players in the market account for 13% of the market share and the remaining 87% of the market share is dominated by other players (Domestic or regional players). The market is highly driven by merger & acquisition and joint venture activities.

The rivalry among various machinery/equipment rental firms is high, as major players are trying to establish their footprint in developing countries, in order to grab a share in the growing market in APAC and South America regions. The industry is highly competitive, because of the similar services offered under construction equipment category.

Note - The complete report includes market share details of other companies not shown here.

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Table of Contents

    1. Study Deliverables
    2. Study Assumptions
    3. Scope of the Study
    1. Introduction to Market Drivers and Restraints
    2. Market Drivers
    3. Market Overview
    4. Market Restraints
    5. Porter's Five Force Analysis
      1. Threat of New Entrants
      2. Bargaining Power of Buyers/Consumers
      3. Bargaining Power of Suppliers
      4. Threat of Substitute Products
      5. Intensity of Competitive Rivalry
    6. Technology Trends (Including Autonomous and Connected Equipment Trends)
    1. By Vehicle Type
      1. Earthmoving Equipment
        1. Backhoe
        2. Loaders
        3. Excavators
        4. Other Earth Moving Equipment
      2. Material Handling
        1. Cranes
        2. Dump Trucks
    2. By Drive Type
      1. IC Engine
      2. Hybrid Type
    3. Geography
      1. North America
        1. US
        2. Canada
        3. Mexico
        4. Rest of North America
      2. Europe
        1. Germany
        2. UK
        3. France
        4. Spain
        5. Italy
        6. Rest of Europe
      3. Asia Pacific
        1. China
        2. Japan
        3. India
        4. Australia
        5. Rest of Asia-Pacific (including ASEAN Countries)
      4. South America
        1. Brazil
        2. Argentina
        3. Rest of South America
      5. Middle East and Africa
        1. UAE
        2. South Africa
        3. Rest of Middle East and Africa
    1. Companies Market Share Analysis
      1. Introduction
      2. Market Share
    2. Company Profiles
      1. Cramo plc
      2. HSS Hire Group plc
      3. Herc Rentals Inc.
      4. CNH Industrial
      5. Liebherr International AG
      6. Caterpillar
      7. Sumitomo Corp.
      8. Hitachi Construction Machinery (Hitachi Group)
      9. Ashtead Group plc
      10. Kanamoto Co. Ltd.
      11. H&E Equipment Services Inc.
      12. Ramirent plc
      13. Loxam
      14. United Rentals Inc.
  7. Price Variation Analysis of Construction Rental Equipment
  8. Analysis on Replacement Rate of Construction Rental Equipment
  9. Disclaimer